‘Go for regulatory reforms to attract more EU investment’

Bangladesh should go for regulatory and taxation reforms along with building level playing fields for local and foreign firms to attract more foreign direct investment from the European Union, EU Ambassador Charles Whiteley said today.

Sky is the limit for EU's investment for Bangladesh, but for that regulatory reforms are needed to attract investment from the European nations, the ambassador said.

The general inflow of FDI from the EU to Bangladesh was good over the last five years when the country received $3.5 billion from the EU nations, he said.

Bangladesh has the potential to attract more EU FDI, he said. For instance, Vietnam received over $6 billion FDI from EU nations and Vietnam has a population of less than 100 million.

"Bangladesh received $3.5 billion EU FDI having more than 160 million population. So, there is a room for attracting more EU FDI if the proportion of population of Bangladesh is compared with Vietnam."

Whiteley spoke at the 16th annual general meeting of the International Business Forum of Bangladesh at Sonargaon hotel in Dhaka.