GSP
Favourable environment necessary to attract foreign investment
Economic development at the desired level is not possible in any way without investment. Even if a country is rich in natural resources, investment is needed to achieve prosperity through the use of those resources. Natural resources must be transformed and continuously modified to enhance economic utility. There are many countries in the world that are rich in natural resources, but due to lack of financial capacity to use those resources, they have to lease them to foreign companies. Foreign companies loot the natural resources of the country. Such situations have been observed in many African countries. Therefore, no dignified country wants to hand over its natural resources to the custody of another country.
Financial incentives for intermediaries cannot attract foreign investment
The Bangladesh Investment Development Authority (BIDA) has taken several initiatives to attract foreign investment. One such initiative is to offer financial incentives to expatriate Bangladeshis who act as intermediaries in attracting foreign investment. Any expatriate Bangladeshi who facilitates foreign investment will be provided with a financial incentive amounting to 1 percent of the investment they help secure. This investment must be new and amount to at least USD 5 million. Many expatriate Bangladeshis attempt to attract foreign investment by leveraging their personal image and relationships. The provision of financial incentives will undoubtedly encourage them.
Before signing an agreement with China, its preconditions must be verified
The Chief Adviser of the Interim Government, Dr. Mohammad Yunus, is scheduled to visit China on a four-day state visit on March 26. This will be Dr. Mohammad Yunus' first bilateral state visit to China since taking over the responsibility of state administration. While there are various reasons why Dr. Yunus' visit to China is significant, the most important aspect is strengthening bilateral economic relations. The visit is also politically significant, but it is expected that economic issues will take precedence. China's economic influence worldwide cannot be denied. At present, China is one of the largest financial aid providers globally. China has been generously providing financial assistance to various countries, including Sri Lanka and Bangladesh.
Curbing inflation is priority over high growth now
cently, Bangladesh Bank announced a new monetary policy. This was the second monetary policy for the current fiscal year (2024-25) and the first one formulated under the present interim government. For quite some time, economists had been discussing the proposed monetary policy. Given the ongoing trend of high inflation in the country for nearly three years, there was significant interest in what kind of monetary policy would be adopted
BB withdraws policy interest rate hike initiative
BB withdraws policy interest rate hike initiative
PM seeks Irish support to enjoy GSP in EU till 2032
Prime Minister Sheikh Hasina today (March 18) sought Ireland's support to extend transition period of GSP for Bangladesh in the European Union (EU) market till 2032 instead of 2029 to consolidate its economic growth momentum during the LDC post-graduation period.