“Permissions from 43 organisations are needed for making investments. Attesting a copy of a document costs money. They [bureaucrats] forget about facilitating trade when they become secretaries,” The country’s foreign minister AK Abdul Momen was quoted as saying by a domestic media outlet.
FDI in Bangladesh has not been rising due to the attitude of policymakers, an event organised by the Policy Research Institute was told. “Policymakers seem to be anti-FDI,” said AKM Abdullah, senior financial sector specialist of the World Bank. Bureaucrats forget about facilitating trade when they turn secretaries, foreign minister AK Abdul Momen said.
While cent per cent investment proposals in the United States are cleared, only three out of 100 proposals are approved in Bangladesh, he noted.
The event was organised to launch four books.
Fibre2Fashion News Desk (DS)