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UNCTAD did not project the real scenario: BOI |
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October 6, 2000
Dhaka (UNB) – Board of Investment (BOI) has claimed the World Investment Report of the UNCTAD did not project the actual investment scenario of the country. The report published on Tuesday revealed that the volume of FDI in 1999 declined by more than 50 percent to 150 million US dollars from 308 million in the previous year. “Volume of investment increased remarkably in last four years compared to the previous five years,” BOI Executive Chairman M Mokammel Haque told a press briefing here yesterday (Thursday). He said the statistics provided by UNCTAD report is based on the account of balance of payment, collected from the Bangladesh Bank, shown as the actual flow of invested capital. “It only shows the transfer of cash, not the machinery and others. Besides, the report of UNCTAD is based on calendar year whereas BOI always follow the account of fiscal year.” According to the BOI statistics, investment proposals of 2162 million dollars were registered in 1996-97, 4577 million in 1997-98, 3109 million in 1998-99 and 3443 million in 1999-2000. It shows that the volume of registered investment was 3274 million US dollars in 1998 and 1770 million in 1999. Besides, investment proposals of 2551 million dollars were registered so far this year. “In fact, investment, both local and foreign, is increasing,” Mokammel Haque said. Since July 1991, the BOI registered a total of 10412 proposals involving 19074 million US dollars, of which 6232 proposals involving 13291 million dollars were registered in last four years. A survey shows that the rate of implementation is 80 percent for local investment proposals and 50 percent in case of the foreign proposals, the BOI Chief said. |