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BOI pessimistic to achieve FDI of $1bn

25 Jul '06
1 min read

Hartal and Bandh are common words for the country's garment industry and due to repeated closures, garment industry is losing its colours and foreign investors are unwilling to invest in country.

The present scenario has shattered the dreams of Board of Investment (BOI) to achieve US$1 billion Foreign Direct Investment (FDI) in this fiscal.

During July - December 2005, total FDI was $845.3 million against the BOI's target of $800 million.

As per statistics of the Bangladesh Bank, FDI registered 84 percent rise last year.

Among the major foreign investors, UK holds first place, followed by the USA and Singapore respectively.

Investments from Middle East countries in tandem with initiatives and proper marketing would be helpful to achieve FDI target, experts suggested.

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