Bangladesh does not want foreign direct investment (FDI) only in the form of funds, but also in the form of minds, thoughts, intelligence and individuals, the foreign ministry told US global investment management firm T. Rowe Price Group Thursday. Syed Muntasir Mamun, director general (international trade, investment and ICT) at the foreign ministry, and officers of the International Trade, Investment and Technology Wing and ICT wings had a meeting with the representatives of the US firm. The delegates suggested that for successful utilisation of the special economic zones and attracting foreign companies there, Bangladesh would need to highlight shining examples of companies that achieved great success after setting up business here. Founded in 1937, T. Rowe Price manages a portfolio of nearly 1.5 trillion $ funds. Johannes Loefstrand, portfolio manager of the frontier markets equity fund, Sebastian Murphy, investment analyst, and Rainbow Moore, investment analyst from T. Rowe Price, participated in the meeting. Read: Global FDI recovered to pre-pandemic levels in 2021 but uncertainty looms in 2022: UNCTAD They enquired about the actions taken for attracting more foreign direct investment, changes taking place in Bangladesh, initiatives for increasing export volume to strengthen the export-led economy of Bangladesh, activities and success of special economic zones and the digitalisation process. Muntasir mentioned the strength and technical excellence of human resources in Bangladesh, the size and texture of the domestic market, strong connectivity to northeastern India and South and East Asia in general, increased participation of women in the workforce and also in the leadership roles, booming local businesses, digitalisation, infrastructure in terms of connectivity and investment options that available here. Agencies like the Bangladesh Economic Zones Authority (BEZA), Bangladesh Export Processing Zones Authority (BEPZA), Public Private Partnership Authority, Bangladesh Investment Development Authority, Bangladesh Securities and Exchange Commission (BSEC), and the Ministry of Commerce are working very hard to improve the ease of doing business and the Ministry of Foreign Affairs (MoFA) is work as a bridge to give the foreign investors full support 24x7, the DG said. MoFA has set up the International Trade, Investment and Technology Wing to facilitate and support foreign investors in every step of the process, he added. Muntasir also shared the ministry's plan to build a neural network for facilitating connections among markets and facilitating the flow of funds and technology. MoFA is also working on deploying a blockchain solution to entrench a data authentication protocol into the existing paper-based system, the DG said.
As the worst floods in two decades hit northeastern Bangladesh, Bangladeshi-origin British MP Rushanara Ali has said it is vital to raise much-needed funds to support those most affected and who need assistance. "Bangladesh is one of the most climate-vulnerable countries in the world. Heavy monsoon downpours mean hundreds of thousands stranded. Sylhet, where I and many of my constituents have family, has been hit extremely hard. My thoughts are with all those affected," Rushanara said, sharing UK-based Charity organisation Penny Appeal's request for donation. Penny Appeal launched the appeal to help people hit hard by floods, as thousands face shortages of food and essentials. The organisation is working with partners on the ground to provide life-saving support to those whose lives have been torn apart this monsoon season. Read: Flood situation turns grim: Power supply to Sylhet, Sunamganj suspended To help flood-hit people it has requested people to donate £50 for a monsoon food pack (which could provide a family with food for a month), £300 for monsoon shelter (which could provide emergency shelter for a family), £500 for 10 food packs (which could provide 10 families with food for a month), and £3,000 for 10 emergency shelters (which could provide emergency shelter for 10 families). Each year, heavy monsoon rains threaten millions of lives across South Asia. This year's monsoon season is getting worse, causing widespread damage across Bangladesh. Hundreds have already lost their homes, livelihoods and lack access to essential food, water, and even basic medical assistance. Moreover, the strong winds and heavy rains put lives and property at risk. Entire livelihoods, cattle and farmland are destroyed, leaving people with nothing and no form of income.
The government will provide Tk. 44.75 lakh to the Hindu community to help rebuild the temples, puja mandaps and shops which were damaged in attacks during last year’s Durga Puja festival in Noakhali, Cumilla and Cox's Bazar districts, an official said on Thursday."We are going to hand over cheques of Tk 44.75 lakh soon among 31 temples and business houses of the Hindu community from the Prime Minister's Relief and Welfare Fund at the directives of Prime Minister Sheikh Hasina," PMO Secretary Md Tofazzel Hossain Miah said. Read: Temples, Hindu households vandalised in Khulna: Puja Udjapan ParishadIn a separate press release signed by PM's Assistant Press Secretary M Ashraf Siddique Bitu, also said that the Religious Affairs Ministry is also providing similar kind of assistances to the damaged temples and business houses.
Chinese enterprises have contributed materials and funds to the government of Rwanda to support the latter's efforts against the COVID-19, sources told Xinhua on Sunday.