The New Nation - Internet Edition

IN many developing countries, the non-residents who work abroad, are attracted for their resources. The expatriates are sought after as sources of foreign currencies to undertake economic activities in their countries of origin. Bangladesh has not been able to tap this source of finance, expertise and investment from non-resident Bangladeshis (NRBs) to give a boost to its economy although compared to many developing countries Bangladesh has more of its people living and working abroad. There is also no mechanism, yet, to tap other NRB resources such as their knowledge, knowhow and expertise for fast development of different economic sectors.

Understandably, none will want to invest in a situation where the minimum returns on investments is not assured. Creation of the investment environment is the responsibility of the government. The law and order conditions and corruption are disincentives to investment in Bangladesh by NRBs. Investments from outside flow to places where infrastructural supports are good. There are specific fields where the NRBs might want to invest. Information technology (IT) is a highly prospective area. NRBs in many cases have good expertise in IT and they want to invest and work in the IT sector to export IT products. But they are discouraged by the telecommunications capacities.

If the government can put its act together by fulfilling the minimum conditions for NRBs to invest, then such investments would be forthcoming. A conference participated well by the NRBs was organised last year. It was sponsored by the caretaker government of Bangladesh. Many useful ideas were floated by the participants in the conference. The incumbent government may examine the merit of each of them and then form strategies based on them to form a proper policy framework to attract NRB funds and expertise.