Dhaka: Former Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president AK Azad said, ‘Foreigners are not interested to invest in Bangladesh due to political unrest and insufficient power and gas supply. Buyers ask Bangladeshi entrepreneurs to set up factories in Kenya, Vietnam and other third world countries.’

The former FBCCI chief came up with the remark after a meeting between the Commerce Ministry and the Advisory Committee for Business Support Advisory Committee at Secretariat on Thursday.

AK Azad, also Ha-Meem Group managing director, said, ‘Foreign buyers suggest Bangladesh to invest in Kenya, Vietnam and other countries setting up factories there. They will take over the imported goods from there. This isn’t good sign for Bangladesh.’

Citing his own experience, AK Azad also said he has recently invited a buyer in Bangladesh but he turned down the proposal.

The buyer told Azad, ‘There are IS and militants in Bangladesh and we don’t consider Bangladesh’s business environment is safe for us.’

Commerce Minister Tofail Ahmed chaired the meeting and representatives of FBCCI, BJMEA, BKMEA and other business organisations were also joined the meeting.  

FBCCE president Matlub Ahmad said, ‘Trade license fee has to be reduced and congenial business environment to be created.’

Selima Ahmed, on behalf of women entrepreneurs, said, ‘Political negotiations is very important for smooth business environment.’