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Bangladesh: Textile Industry Attracts Major Chunk of FDI

Bangladesh: Textile Industry Attracts Major Chunk of FDI

Write: Absalom [2011-05-20]

FDI proposals registered were worth about $659.56 million in the January-June-2005 and they increased to $ 3137.60 million in July-December 2005 period. The Board of Investment recorded $ 1143.79 million FDI proposal in December last.

Sources reported that energy sector attracted the largest FDI that remained on top during the last five to six years in the country.

In FDI list, the telecom and apparel segments bagged the second and third place.

The macro-economic stability, investment friendly environment and profit repatriation facilities prevailing in the country encouraged foreign investors to invest in the country.

Country attracted about Tk 68.48 crore as domestic and foreign direct investments (FDI) during the July-November period last year, which was over 120 percent higher than that of corresponding previous year.

Meanwhile, it was reported that textiles sector obtained maximum local investment during the last year. It was followed by chemical, light engineering and agro-based industries.