Muhith discourages expats to invest in country

AMA Muhith

Finance Minister AMA Muhith on Friday asked expatriate entrepreneurs not to invest in Bangladesh. File photo: Prothom Alo

“We’ve problems of bureaucracy and we often have to impose tough rules and regulations to prevent the cheats and deceivers… If you invest in Bangladesh you may not get back your capital,” said Finance Minister AMA Muhith at an exchange of views with expatriate businesspersons in New York on Friday.

He said, “We’re not inviting expatriates to invest in the county as the scope of investment for expatriates has already been shrunk.”

Big states like Japan, China and India are now interested in investing in Bangladesh and competition for investment has started as this country witnesses a rapid economic growth, said the finance minister.

He said Bangladesh has successfully grabbed the opportunities of globalisation and eventually became one of the Asian countries that achieved rapid economic emancipation.

Expatriate businesspersons asked the government to launch “one-stop services” to attract investments.

They also urged the minister to bring an end to investors’ hassle and bureaucratic difficulties and to develop the country’s communication system.

Source: Prothom Alo