In all these attempts it is evident that, for whatever reasons, a fact of the real life and real world is completely ignored: i.e. FDI has become the engine of development and economic progress around the world---irrespective of political and social systems existing in the respective countries. China, Vietnam, India, among many, are prime instances.

But for causes that are either quaint or outdated or perhaps because of misinformation everytime there is talk of FDI in Bangladesh certain by-now-well-known quarters begin a well-coordinated campaign against FDI in Bangladesh in spite of the positive impact it has been seen to have on the lives of the people of the countries which have benefited from such foreign investments.

And there is no dearth of disinformation either. Recently a commentator wrote, "Earlier it was strongly indicated that this government would not take a decision on this (FDI proposals) controversial issue involving vital national interests and would reserve it for the next elected government to decide." This is, as any fairly informed person should know, is quite fanciful because this government never said any such thing.

What is more, why should not this government be able to make decisions on these issues? Is it not taking decisions on many other "vital national interests" with the overwhelming support of the people? What could be the reason for anyone to contemplate that this government is not qualified to make decisions on these matters---unless some lobby is against such investments for reasons best known to it?

Additionally, there already exist and operate in this country entities which are the result of foreign investment. Consequently, the question that arises is, if there are already functioning FDI companies why should some others be barred? Why should there be any fears about foreign investments if they benefit the nation especially when countries all across the globe are frantically chasing similar investments?

At other times opponents of FDI claim that such investments will kill local industries even when the proposals clearly spell out that the industries to be set up will, in fact, substitute imports of products that are not produced in the country and will moreover assist local industries to access production materials that they now have to import. Surely, reduction of import dependence cannot be against the national interest!

Asking for security of feedstock is not an unknown phenomenon is business and industry; but in reality it in no way risks complete depletion of Bangladesh's gas reserve and certainly does not create any ground for apprehending that we will have to "import" gas. It's a preposterous notion given that, for example in Tata's case, a mere six percent of today's proven gas reserve will be consumed in the lifetime of the project and evidently much less during the secured period asked for. Equally significantly, gas will not have to be supplied at a subsidized price ever.

Yet despite the facts to the contrary opposition on imagined and/or ill-informed ideas continues against much-needed FDI. Furthermore, opposition to the utilization and enhancement of our energy resources also persists in some easily identifiable quarters even though power requirement of the nation, both for household use and industrial needs, is not merely urgent but demands immediate solutions if we are to develop economically and societally.

Obviously the saner route to take at this point in our economic progress is to judge investment proposals, not on emotional or partisan responses, but on the basis of clearheaded economic criteria keeping the national interest above everything else. Otherwise the consequence is self-evident: this country will continue to debate and argue endlessly but the faster development and the subsequent industrialization required will not come our way.

Habibul Islam is an expatriate Bangladeshi now residing in New Zealand.