The New Nation - Internet Edition

Staff Reporter

Head of European Commission Delegation Ambassador Dr Stefan Frowein said Bangladesh needs remove sense of uncertainty in business arena, arising out of the anti-corruption drive, which has made foreign direct investment or predictability of economic activities difficult.

He said this yesterday at a seminar on EC Information Day about how EU visualizes the country's trade and investment scenario over the next one year against the backdrop of anti-corruption drive and political syndrome on the ground. Dr Frowein observed that the anti-corruption drive, being carried out by the present interim regime, is good but it has to go for a situation where things are more confident and people can look forward.

"Anti-corruption drive is good, but it has to be done and implemented through respecting due process," he said adding, "It is clear from the business community that they do not know how far it goes and how long it goes; it contributes to the feeling of uncertainty and uncertainty is the worst thing for businessmen."

The EC Ambassador stressed smooth functioning of the private sector and foreign investment to ensure pro-poor growth and employment generation. "Without private sector and foreign direct investment, this country cannot get further--it is so much desperately needed" he said.

He said the Bangladesh business community are concern because overseas import orders of their products are going down. "Maybe, orders are shifting away from this country due to political situation or perception of the situation," he said.

Dr Frowein presented a paper at the seminar on the role of the European Commission and its place in the EU's architecture. First Counselor Ms Francoise Collet presented an overview on the EC and Development Cooperation in Bangladesh. Charles Whitley gave a resume on the EU's Trade Policy while Zillul Hye Razi presented Challenges in EU-Bangladesh Trade and Jenni Christensen presented a paper on Trade-related Technical Assistance in Bangladesh.

The Ambassador said Bangladeshi media is unfortunately producing all bad news like floods and natural calamities and deaths. But he encourages foreigners to come to Bangladesh, as what they hear from outside about Bangladesh is not always the reality.

Underscoring the need for improving the image and perception about Bangladesh, he said foreign companies with millions and billions of dollars are simply looking for the best opportunity to put their money in. But, if there is uncertainty and no clear-cut information about the country, people from outside would hesitate to come.