Slow Govt processes hinder investment flow: Mirza Fakhrul

Local Government Minister Mirza Fakhrul Islam Alamgir has said that slow operations of various government agencies are becoming a major obstacle to attracting foreign investment in the country.

He made the remarks while speaking to journalists after a dialogue titled “The Compass Dialogue” held at a hotel in Banani, Dhaka. The event was organised by the Institute of Strategy and Tactics Research (ISTR) and attended by representatives of foreign organisations, diplomats, and business leaders on Wednesday morning (May 6).

Fakhrul said foreign investors have expressed concerns that government institutions in Bangladesh operate at a slow pace, which prevents timely resolution of issues. “Investors expect quick decisions, but they do not get that speed, which creates frustration and a negative impression,” he said.

He added that the overall business and investment environment in the country is not yet favourable, which often leads to disappointment among investors. The government, however, is trying to address these issues by reforming bureaucracy and improving the investment climate.

“The Prime Minister is personally monitoring these matters and giving instructions to various ministries to take quick action,” he said.

The minister further said the government is working to improve the macroeconomic situation and implement commitments made in the BNP’s election manifesto, including initiatives such as family cards, farmer cards, and agriculture-based programmes aimed at supporting citizens.

He also noted that the government is focusing on renewable energy, expanding the use of solar power, and initiating offshore and onshore oil and gas exploration. Tender processes in this sector are expected to begin within the next three months.

Commenting on the political situation, Fakhrul said that while past political issues have not been fully resolved, the current situation is more positive than before. He said that establishing stability would help achieve economic growth, increased investment, and job creation.

He also stressed the importance of maintaining stable relations with neighbouring and friendly countries, as well as ensuring security in the Bay of Bengal. He added that the Rohingya crisis remains a major challenge for Bangladesh, and the government is working toward resolving it.