Japanese investors facing 6 types of difficulties in Bangladesh: CPD
Japanese investors are facing six issues, including complicated procedures in customs during export and import activities, in Bangladesh, according to the Centre for Policy Dialogue (CPD).
Now over 310 Japanese companies are running their business with an investment of around $400 million in the country.
"The Japanese investors are facing complex repatriation process of dividend, complicated procedures in customs, delayed shipment in export and import, lack of skilled IT professionals, inadequate internet connectivity, and complicated foreign exchange regulations," said Syed Yusuf Saadat, a research fellow at the CPD.
Saadat was presenting a paper at a discussion on "Bangladesh-Japan partnership for the next development journey" organised by the CPD at the Westin Dhaka today.
The CPD suggested ensuring a simple process for foreign investors to access working capital loans at a low-interest rate from domestic lenders and making it easier for enterprises to get international loans approved.
According to the civil society think tank, an adequate number of officials should be employed in customs for handling freight, and the customs procedures should be digitised.
However, the CPD said following graduation from the least developed country list, Bangladesh will need to increase economic diversification, skills and productivity.
Addressing the event, Planning Minister MA Mannan alleged that corruption increased in line with the increase of development activities. He also termed corruption as cancer.
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