Mr. Arun Panchariya, who also serves as the Consul General of the Republic of Liberia to Dubai, UAE, travelled to Bangladesh for business and says he was impressed with the way the country is planning its future. He also met with the country’s Honorable Finance Minister Abul Maal Abdul Muhith, whose vision is to introduce changes in policies to attract foreign investors and stabilize the country’s financial foundation.
Such vision and the success thereof is reflected in the fact that Bangladesh’s foreign reserve and currency remained unaffected after the 2008-2009 crisis. The Honourable Finance Minister is committed to bringing in more foreign investors by putting in place new policies, circulars, and strategies on a daily basis.
Mr. Panchariya also met the respected governor Atiur Rahman and was impressed with the day-to-day policies being implemented to attract FDI investors.
While in Bangladesh, Mr. Panchariya had the chance to meet the president of the stock exchange. He was also able to speak with one of the officials of the Investment Corporation of Bangladesh, a government body which actively supports the market, as well as brokers. The official explained that Bangladesh is a good prospective destination for foreign investors, since the market has been demutualized. Moreover, the stock exchange has established new rules, regulations, and framework which are more accommodating to new investors. In fact, Mr. Panchariya also reported that with the market demutualization having been approved by the parliament, the market has become very stable. In addition, new windows are expected to be opened with the establishment of new regulations and frameworks in accordance with international market standards.
Mr. Panchariya states that while the Bangladesh market currently does not have as much liquidity as those of other South Asian markets, his visit has made him very hopeful and confident that the market will catch up and be at par with the other markets in the region very soon.
Arun Panchariya concludes his statement by saying that his visit has given him a “positive vibe to invest in Bangladesh”, keeping in mind the individual and corporate risk parameters.