The New Nation - Internet Edition

This was said by David Fernandez of JP Morgan, an Investment Firm in Wall Street, at an Investment Seminar titled "Untapped Investment Opportunities in Bangladesh: Investment climate, capital market and growth in Bangladesh" at the Asia Society in New York on Thursday, according to a message received here on Saturday.

With a view to attracting attention of the global investors, Dr Ahsan Mansur of the IMF highlighted microeconomic stability in Bangladesh, which could be a major attraction for foreign investment. Peter Berezin of Goldman Sachs expressed confidence that with correct policies and investment knowledge and physical infrastructure, Bangladesh can attract investment significantly in the near future.

Mamun Rashid of Citybank in Dhaka called Bangladesh a new frontier for investment and urged more policy flexibility and the need for Bangladesh to get connected to the global network.

Arif Dowla of ACI in Bangladesh, Munawar M Moin, Rahim Afroz Group of Bangladesh and Iftekharul Islam of Asian Tiger Capital Partners, Dhaka noted the disconnect between the global capital market and the opportunities available in Bangladesh and suggested for quick learning which could help Bangladesh to benefit from the huge capital available in the global market.

They also highlighted the new found confidence in the business community in Bangladesh and invited the global investors to capitalize the investment opportunities currently unfolding in Bangladesh.

They also underscored the value opportunity and growing market and other connectivity that Bangladesh offers.

The Panelists, however, stressed the need for policy dynamism and transparency and development of infrastructure, knowledge network and education to persuade the global investors about the economic strength of Bangladesh and its readiness to accept best practices.

They also suggested that Bangladesh should work with the global rating agencies so that they could evaluate the investment competitiveness in Bangladesh vis-à-vis other emerging markets.

They urged strongly for strengthening marketing efforts to familiarize Bangladesh in the global economic and financial landscape.

Earlier, Bangladesh Ambassador to the United States, M Humayun Kabir in his keynote address underscored the fundamental strength of Bangladesh economy and described how it has been moving in the positive direction over the years.

He also catalogued reform initiative and the benefit that are emerging from better economic governance implemented by the present government.

He suggested that the articulation of a consistent, coherent and credible message about brand Bangladesh by forming a compact among government, business and diplomacy so that Bangladesh could be presented as a new and attractive investment destination.

He also noted that diplomacy can play the role of vanguard in attracting foreign investment.

The prestigious seminar was sponsored by the Asia Society and network of Bangladesh American professionals in the US.

It was indeed a befitting arrangement as a follow up to the Chief Advisor's entreaty during his visit to New York in September last year attended by about 150 investors, economic experts, financial analysts and economists.