Investment proposals soar 50pc despite pandemic

The current financial year's first three months recorded 46 per cent higher investment proposals, both domestic and foreign, year-on-year in spite of the pandemic, said Bangladesh Investment Development Authority (Bida) yesterday.

Proposals of about Tk 20,464 crore in investments have been registered during this period of 2021-22.

Between July and September of financial year 2020-21, it was Tk 13,964 crore.

If the latest proposals are implemented, about 29,000 new jobs will be created, said Bida in a press release on its quarterly statistics made public last Thursday.

The latest offers came from 189 industries, of which 177 are local. They plan on putting to use around Tk 18,587 crore, which is Tk 5,887 crore higher than that last year.

The chemical industry accounts for most of the locals' investment proposals. In addition, significant investment proposals came from the services, engineering and textile sectors.

Of the remaining companies, seven are wholly foreign while five joint ventures with locals. They proposed investing Tk 1,877 crore.

During the same three months last financial year, 20 non-local industries had come up proposing to invest Tk 1,285 crore.