Bangladesh lags behind competing countries in attracting foreign direct investment (FDI). The situation has worsened further since the political transition.

The interim government created a stir by flying in young banker Ashik Chowdhury from Singapore to appoint him to the top post at the Bangladesh Investment Development Authority (BIDA).

However, despite generating attention in other areas, Ashik Chowdhury has failed to make an impact in attracting foreign investment over the past 16 months.

The interim government has restored a degree of stability to the financial sector, which had reached the brink during the tenure of the ousted Awami League government. The decline in foreign currency reserves has also been checked.

However, the investment climate has not improved to a satisfactory level. Instead, new foreign investment has declined. The rate of registration of domestic and foreign investment proposals has also fallen. Many small, medium and large factories have shut down, resulting in millions of people losing their jobs.