Minimise graft, refrain from disruption: Urges UK

Minimise graft, refrain from disruption: Urges UK

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The United Kingdom wants to take part in Bangladesh’s development process with more investment urging the government to minimise corruptions and refrain from disruptions like blockade and hartal.
“Corruption – of course; corruption discourages international investment. I urge the government to minimise and reduce corruption to ensure companies can invest here with confidence in the future,” British High Commissioner in Dhaka Robert W Gibson said responding to a question from UNB at DCAB Talk at the Jatiya Press Club on Thursday.He also said disruptions — blockade and hartal — that discourage international investment and barriers to international investments in Bangladesh.
The diplomat said the UK is traditionally one of the largest investors in Bangladesh, and they hope to continue investing in Bangladesh in the coming days, too.
He said there are huge infrastructure projects that are in the pipelines and the UK certainly wants to be part of this development. “Our companies are very interested to invest and to look at the possibilities.”
Diplomatic Correspondents Association, Bangladesh (DCAB) President Masud Karim and General Secretary Bashir Ahmed also spoke at the programme.
The United States has recently said Bangladesh offers opportunities for investment but corruption remains a serious impediment to its investment and economic growth.
Bangladesh has made gradual progress in reducing some constraints on investment, but inadequate infrastructure, financial constraints, bureaucratic delays, and corruption continue to hinder foreign investment.
The US made the observation in its Investment Climate Statement 2015 on Bangladesh mentioning that Bangladesh witnessed over 6 percent annual growth sustained over the past two and a half decades having a large, young and hard-working workforce, and vibrant private sector.
The Department issued the first of its 2015 Investment Climate Statements, providing country-specific information and assessments on investment-related laws and other important factors for doing business abroad.
US embassies and consulates prepare these public documents, which cover more than 175 foreign markets, to assist US companies to make informed decisions regarding investment in foreign markets.- UNB

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