Sharp fall in foreign investment proposals
Foreign investment proposals fell 73.53 percent in the first quarter of the year from the previous quarter, mainly due to a volatile political environment.
Commitments by foreign investors stood at Tk 1,046.66 crore during January-March, down from Tk 3,954.78 crore in October-December last year, according to the Board of Investment.
The number of investment projects from foreign investors or joint ventures also dropped in the first quarter; only 24 investment proposals including eight fully-foreign investment proposals were registered at BoI. The number was 30 in the previous quarter.
But local investment proposals rose 48.13 percent in the same period.
Local entrepreneurs proposed to invest Tk 24,598.58 crore in 336 projects in the first quarter, while 291 projects worth Tk 16,605.60 crore were proposed in the immediate past quarter.
Of the investment proposals, agro-based projects were the highest at 51.89 percent, followed by 10.46 percent in the chemicals sector, 8.94 percent in engineering and 8.52 percent in textiles.
Industrial projects from local entrepreneurs, joint ventures and foreign investments are supposed to generate jobs for 53,744 people, according to BoI.
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