Kamal hopes $7 to $8 billion FDI in current fiscal


DHAKA, Aug 13, 2018 (BSS) – Planning Minister AHM Mustafa Kamal today hoped that the country is expected to witness a record $7 to $8 billion Foreign Direct Investment (FDI) in the current fiscal year due to favorable conditions.

“We are expecting much more FDI in the current year as we have already received a good number of proposals. We expect to receive around $7 to $8 billion actual FDI in the current fiscal year which usually touches $2 billion a year. Besides, there is no crisis of power at the moment,” he said.

The Planning Minister briefed reporters after chairing an inter-ministerial meeting on ADP implementation for the current fiscal year held at the NEC Conference Room in the city’s Sher-e-Bangla Nagar area. Secretaries concerned of the Ministries and Divisions attended the meeting.

AHM Mustafa Kamal, commonly known as Lotus Kamal, said that he had suggested the line ministries and divisions to give more efforts to attract more FDI.

He also opined that considering the global debt scenario as well as the debt scenario of the country alongside the developments in the global trade situations, Bangladesh has a unique chance to attract more FDI.

Turning to the meeting outcomes, Kamal said he has directed the secretaries concerned so that the development is sustainable and the current momentum of growth continues.

Noting that the development activities usually witness a slow trend in the election year, the minister said he has also directed the secretaries concerned so that the development activities continues with a speedy trend and there is no sloth in growth momentum.

Mentioning that a short polls-time government will be formed in October this year headed by the Prime Minister ahead of the ensuing national election, Kamal said the ministries and divisions concerned have been suggested to bring the people’s welfare oriented development projects soon before the Planning Commission as the polls-time government usually does routine works and does not take any policy decision.

He also said that the authorities concerned have also been asked to hold the pre-ECNEC meetings on the proposed projects soon to place those before the ECNEC.

Besides, he underscored the need for maintaining the qualitative standard during the framing of any project.