BOI response to Japanese allegations
Zubair Sadeque, Duquesne University, Forbes Avenue, Pittsburgh, USA
The sorry state of the investment climate in Bangladesh, as was depicted in a survey by the Japanese trade body in Dhaka, calls for greater scrutiny and soul-searching on our part. No matter how hard we try increasing foreign investment in the country, we are not going to achieve it unless we are serious in providing an investment-friendly environment in the country. And when the very investors speak out about the environment, it is in our best interests to listen to them.It was not wise on the part of BOI to challenge the observations of the Japanese investors when everyone of us knows that the allegations were nothing but facts. Don't we know that almost no service from the government can be obtained without paying something to the concerned officials? BOI could have given extra efforts in reaching out to the investors and in publicising its services like the one-stop desk at ZIA instead of writing to the Japanese Embassy rejecting the allegations. It does not help in our efforts to attract foreign investment when the trade union demands money from foreign investors in the middle of their meeting with senior management of a public entity ('Petrobangla union leaders demand toll from Unocal', DS Sept 5). What does it speak of our investment climate? Our investment policies in paper may be one of the most investment-friendly in the region, but their implementation on the ground is anybody's guess. If we are really serious about inviting foreign investment in the country, we should think rationally, find out the problems that the investors are facing, and do our best to rectify those problems. Otherwise, foreign investment will remain as elusive as it is today.
|
|
