Bangladesh Government urged to utilise diaspora to lure FDI

“We urge the government to take measures to attract more FDI to develop the country's infrastructure, including the energy sector. At present, the industrial growth is seriously hurt by energy shortage,” Ifty Islam told the launch of a journal in Dhaka yesterday.

Islam is the founder and managing partner of investment firm Asian Tiger Capital Partners (AT Capital).

Bangladesh Enterprise Institute (BEI) and AT Capital jointly organised the launch of NRB Voice, a bi-monthly e-newsletter, at the BEI office.

Ifty Islam hoped that the newsletter would help bridge the gap between local innovative businesses and non-resident Bangladeshis in the interest of more investments in Bangladesh.

Citing the examples of Chinese and Indian diaspora, he said, “ More than 50 percent of FDI comes from Chinese diaspora, while Indian and Vietnamese expatriates are playing pivotal roles in transferring technology and sharing knowledge.”

The publication of the newsletter is part of a yearlong project on establishing an effective Bangladeshi diaspora network for the economic transformation of Bangladesh, undertaken by BEI in partnership with AT Capital.

Farooq Sobhan, president of BEI, said the purpose of the project is to utilise the potentials of economic transformation of Bangladesh through leveraging its diaspora, in terms of transferring knowledge and skills and improving its global commercial interface.

“The project will also promote the establishment of an effective Diaspora Knowledge Network (DKN) of British citizens of Bangladeshi origin, organisations and individuals in Bangladesh,” he said.

Chris Austin, head of DFID Bangladesh, also spoke.

Source: Star Business