PM announces 1.5% incentive for bringing FDI

Prime Minister Tarique Rahman on Wednesday announced a new incentive package aimed at attracting foreign direct investment (FDI), offering a 1.5 percent commission on investments brought into Bangladesh by any local or foreign individual.

The announcement came during the question-answer session of the National Parliament in response to a supplementary question from reserved-seat lawmaker Begum Johorat Adib Chowdhury.

The Prime Minister said the incentive would be available to any Bangladeshi or foreign citizen who facilitates foreign investment in the country. The initiative is part of the government's efforts to increase FDI by utilizing the expertise, networks and influence of skilled members of the Bangladeshi diaspora living abroad.

He expressed hope that expatriate Bangladeshis would play a more active role in encouraging foreign investors to invest in the country's growing economy.

The Prime Minister noted that the current economy is still dealing with the adverse effects of policies and corruption inherited from the previous regime. However, he said the government has taken timely and effective measures to address those challenges and improve the overall investment climate.

He informed Parliament that the government has already resolved long-standing complexities related to the repatriation of profits by foreign investors through legal and policy reforms, allowing them to transfer earnings abroad more easily. The move, he said, is expected to restore investor confidence and help Bangladesh compete more effectively with neighboring countries in attracting foreign investment.

The Prime Minister urged lawmakers to consider the government's latest economic initiatives rather than relying on outdated information. He reiterated that the administration is working to simplify regulations and create a more business-friendly environment for both local and foreign investors while generating employment opportunities.

TZ