Investment proposals rise by 36 pc

Investment proposals both from local and foreign entrepreneurs surged by 36.85 percent during October-December quarter of 2016, according to the latest data of the Bangladesh Investment Development Authority (BIDA).

During the three months, BIDA received proposals for investing a total of Taka 68 thousand 767 crore 61 lakh from the local and the foreign entrepreneurs for investing in 487 industrial units, which in term of value was Taka 18 thousand 516 crore 54 lakh higher than the proposed amount in the previous July-September period in 2016.

In July-September period, BIDA received proposals for investing a total of Taka 50 thousand 251 crore 06 lakh from the local and the foreign entrepreneurs for investing in 305 industrial units.

From October to December in 2016, BIDA received proposals from overseas investors for investing a total of Taka 45 thousand 723 crore 47 lakh in some fully foreign owned and joint venture units with local entrepreneurs. The proposed amount was 48.74 percent higher over the previous quarter`s figure for the July to September period. In July-September in 2016, BIDA received investment proposal of Taka 30 thousand 740 crore 89 lakh.

Like the foreign investors, local entrepreneurs also showed more enthusiasm during October-December period, with proposing substantial amount from investment, which in term of value was 18.11 percent higher than the proposed amount of the previous July-September quarter.

A total of 444 industrial units got registered with BIDA in October to December period with an investment proposal of Taka 23 thousand 44 crore 13 lakh, which was Taka 19 thousand 510 crore 17 lakh in the July-September quarter.

According to BIDA, the highest number of proposals came for the miscellaneous industries, which was 68.94 percent of the total proposed amount. The chemical sector came next with 8.18 percent followed by textile with 4.06 percent, service with 8.38 percent, agriculture with 0.11 percent and others 10.33 percent.

The BIDA said that the investment proposal from local and foreign entrepreneurs would create a total of 86 thousand 550 jobs in the newly 487 registered industrial units.

Source: BSS