Muhith Urges NRB Investment under PPP
Sunday, 19 September 2010

Finance minister AMA Muhith has urged the expatriates to invest in different sectors of Bangladesh under his much vaunted Public Private Partnership (PPP) scheme.

Muhith was addressing a meeting with the expatriates in London, England on Saturday.

"We are currently stressing on PPP for the country's development," the finance minister said.

Outlining the various steps taken by the government to boost investment, the influential cabinet member said, "Investment was very poor in Bangladesh previously. Foreign investors were not interested mainly because of the nationalisation of industries, weak implementation of law and high incidence of corruption."

He, however, claimed that things were now being changed. "Earlier, we had response from one or two companies in tenders, when this year 21 international companies took part, including General Electronics."

The minister also urged the expatriates to invest in health and education.

"The domestic market has expanded and scope for trade and investment has risen too. Moreover, the proportion of rich people has increased to 26-30 percent, which was 14 percent in the '90s," Muhith claimed.

When the expatriates cited traffic jam in the capital as obstruction to investment, he portrayed different steps to ease the nagging problem.

"There had been no initiative despite much research under the strategic transport plan of the World Bank. The government has no funds dedicated to tackle the problem. We had some responses from India and China."

Citing that he did not know the way out from bureaucratic complications and nepotism, Muhith blamed the BNP-Jamaat government for nepotism. "[Khaleda Zia] started nepotism through police recruitment."

"I don't know how I can get rid of it. It's very tough."

He also stressed on decentralisation of administration to expedite government activities.

Source: bdnews24.com

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