It is not possible for Bangladesh to become a developed nation by 2041 without foreign investments, Professor Shibli Rubayat Ul Islam, the chairman of the Bangladesh Securities and Exchange Commission (BSEC), has stated.
"Therefore, inflow of foreign investment is now the most crucial factor for the development of Bangladesh," he said.
The BSEC chief made the observation while presiding over the inaugural function of the seventh annual World Investor Week at its headquarters in Dhaka on Monday. The programme will continue till 12 October. The International Organization of Securities Commissions launched the programme.
Foreign investment is, he said, now very crucial for Bangladesh. "There are many areas in our country where investment opportunities exist. Through investment, we can further accelerate development in all sectors including agriculture, healthcare and technology. For this, our country needs branding, which we are currently working with."
Highlighting the importance of branding Prof Shibli said, "How will foreign investors come? They think we are poor, foolish, hit by cyclones, and barbaric. So why would foreigners invest in this country? It is to dispel this misconception that we have engaged in country branding."
The BSEC chairman emphasised that the people of the country need to be smarter. "We have to believe that to take our country forward, we need to be smarter. The Prime Minister [Sheikh Hasina] always emphasises being smart. In every aspect, including investment, if we don't act smart, we won't progress."
Former chairman of the University Grants Commission Professor Nazrul Islam was chief guest at the opening ceremony. BSEC Commissioner Shaikh Shamsuddin Ahmed, Abdul Halim, and other stakeholders were also present at the event.