Political expediency a hurdle to investment in Bangladesh

Asian Economic News, Jan 22, 2001

DHAKA, Jan. 15 Kyodo

A Japanese business delegation conveyed their disappointment Sunday regarding political interference in economic decision-making in Bangladesh.

Mission members said it hinders Bangladesh's prospects for new foreign investment.

During a meeting with the members of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka, they also said economic issues should be decided on purely economic grounds.

Led by Koji Nojima, chairman of the Japan-Bangladesh Joint Committee for Commerce and Economic Cooperation, 22 members of the business mission are in the Bangladeshi capital to explore the country's investment environment.

The joint committee of the Japan Chamber of Commerce and Industry and the Bangladeshi chamber was established in 1980 to foster trade, investment and economic cooperation between the two countries.

Commenting on possibilities of Japanese investment in Bangladesh, Nojima said Bangladesh is a little known place in Japan and the mission is to get first-hand experience about investment opportunities and the business atmosphere in the country.

He also said a high-level team will visit Bangladesh soon to explore the opportunity of investment in information technology and agriculture-based industries.