Editorial
Japanese investors' distress
Are we still going to remain blind about internal corruption?
The Japanese investors in Bangladesh have made it known that their discomfiture with the situation prevailing at the field level is based on some specific instances of irregularities and corruption in government offices. The Japanese ambassador handed over a report of 'the investors' distress' to the planning and finance minister which contained the details of problems they were facing. So, it is not a notional, subjective or general type of criticism. The complaints deserve a closer look. The decision-makers have to realise that liberalisation of policies and offering an incentive package to the prospective investors alone cannot ensure success. Even a cursory glance at the list of the investors' complaints would reveal that most of them are basically linked to lack of supervision and monitoring at the government offices. We urge the government to go for a thorough probe into the matter; for, it has a bearing on the overall investment prospects for the country. Obviously, foreign investors cannot work if they have to bribe officials for issuance of multiple visa and work permit, and have to incur losses owing to organised pilferage at the sites of their projects. It is not the first time that representatives of a foreign country have expressed serious reservations. The shipping ministry got embroiled in a controversy not very long ago when the Danish government raised some questions about the way it handled a certain case. Then there has been a World Bank critique on corruption in the government offices. And our high position in the list of corrupt countries in the world is something that cannot be dismissed lightly. Now, the first thing that we must do is to address the problems of those who have already invested in the country -- a point that the Japanese investors have raised. We must also take note of the fact that despite all the assurances and framing of rules of business, the decision-making process is still considered slow by the investors. Finally, the corrupt practices for which the investors suffer must be dealt with effectively. Japan is a major development partner and a sizable investor and is keen to play a role in our economic progress. The need, therefore, is to take the steps that will clear the way for the investors to make the best use of the facilities and services offered by Bangladesh.
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