Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Bangladesh managed to quickly recover lost image, opines GFF-B Gen Sec

The general secretary of Global Economist Forum-Bangladesh (GEF-B) Mamun-Ur-Rashid believes the recent terrorist attacks may erode investors’ confidence in the country. This could cast an adverse effect on the country’s ability to attract Foreign Direct Investment (FDI). He however, claims the government has been able to recover lost image by virtue of the strong action which will help foreigners keep confidence on the country. Rashid, who is also the Additional Managing Director of Standard Bank feels it is the most damaging of a series of attacks targeting foreigners and minorities in the past year and highlighted political risks that are factored into the government bond rating, through assessment that Bangladesh’s vulnerability to political event risks is moderate. Besides, prolonged political or geopolitical instability could erode investors’ confidence and a worsening of the external payments position, he said.

He pointed out that adverse trends in foreign investment would be particularly detrimental to garment exports, a predominant growth driver. Exports comprise 16.3 per cent of Bangladesh’s GDP and sustaining foreign investment in the textile sector which accounts for 80 per cent of the total export basket is crucial for growth. Moreover, Bangladesh is one of the few countries in Asia Pacific that has continued to record exports growth as global demand has weakened.

He also informed that between July 2015 and April 2016, Bangladesh’s total exports increased by 9.2 per cent year-on-year. Among the ones that powered the increase were pharmaceuticals, raw jute, knitwear and woven garments and engineering goods exports.

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo