Banks asked to open help desks to boost FDI

Posted by BankInfo on Thu, Jul 20 2017 12:19 pm

Bangladesh Bank yesterday asked all banks dealing in foreign currencies to set up at least one dedicated help desk in their Dhaka and Chittagong head offices with competent officials to help potential foreigners in making productive investment.

The banks were given 30 days beginning yesterday and asked to inform the foreign exchange investment department of the central bank.

The banks can play a vital role with their proactive guidance and the regulatory framework was adopted in line with the government placing high priority on attracting and boosting foreign direct investment (FDI). FDI inflow stood at $652.59 million during January-March this year, according to the central bank data.

It includes contributions from economic zones, areas designated for industrial units and with special economic regulations providing entrepreneurs various benefits.

The government plans to develop 100 such zones by 2030 on 75,000 acres of land to create jobs for one crore people and produce goods and services worth $40 billion.

Bangladesh Economic Zones Authority has so far awarded licences to eight local private companies to set up 10 economic zones.

AK Khan and Company, Abdul Monem Ltd, Bay Group, Aman Group, Maisha Group and United Group were each awarded one licence while Meghna Group and Bashundhara Group two.

The government itself is also setting up four economic zones -- Mirsarai economic zone in Chittagong, Mongla economic zone in Bagerhat, Srihatta economic zone in Moulvibazar and Sabrang tourism park in Cox's Bazar.

News:Daily star/20-jul-2017
Posted in News, Banking