"We want the next election to be free and fair, with an outcome accepted by all as in the previous elections," said Deputy Chief of Mission Geeta Pasi.

She said the image of Bangladesh abroad matters to the country's economic growth. "That is never more true than during an election cycle."

Geeta Pasi was speaking at a discussion on 'The role of the US in Bangladesh development' organised by Bangladesh Chamber of Industries (BCI) at its boardroom in the city. BCI President AK Azad chaired the programme.

"Bangladesh's recent economic success reflects its reputation as a democracy -- a reputation it has earned through three elections generally acknowledged to have been free and fair," said Geeta, who attended the meeting on behalf of the US ambassador.

She said Bangladesh should be proud of its democratic tradition. "We want the tradition to continue."

Responding to the demand for more US investment, Geeta said the US investors are ready, willing and able to play an even larger role in Bangladesh.

But they are frustrated at inexplicable delays, arbitrary decisions and an opaque decision-making process, she added.

"The investors are concerned at the lack of transparency in many government and regulatory decisions. They find it difficult to deal with extended delays for project approvals -- or just getting basic licences and customs clearances."

"They want predictability and are dismayed when decisions are arbitrarily revised or reversed, seemingly due to political pressure or pressure from so-called vested interests. They worry about corruption and political unrest," said the US Embassy official.

She said Bangladesh must create the regulatory and investment climate to support private infrastructure.

"The current debate over national policies on mineral resources is a case in point. These policies must be structured to reflect global economic realities and to balance fairly the interests of both Bangladesh and the domestic and international investors," she added.

In his welcome speech, BCI President AK Azad urged the US government to include Bangladesh in the Millennium Challenge Account, a special package for selected developing and least developed countries to facilitate poverty reduction programme.

For the last three years, Bangladesh was on the preliminary list but was excluded during the final selection, he said.

Bangladesh is again on the primary list for the fourth time and the final selection will be made in November, he said.

Azad also sought assistance from the US government in developing the existing infrastructure, especially in the sectors of power and ports.