Mon, 15 Aug 2022

U.S. says corruption major barrier to FDI in Bangladesh

Khalid Umar Malik
01 Aug 2022, 17:37 GMT+10

WASHINGTON DC, USA - According to a recent U.S. Department of State report, corruption remains a significant barrier to attracting foreign investment in Bangladesh, despite gradual progress in reducing some constraints.

According to the report, slow adoption of dispute resolution methods and sluggish judicial processes hamper contract enforcement and business dispute resolution. The report also said that scarcity of land, depleting natural gas reserves, and insufficient power distribution remained major impediments to investment.

Bangladesh has made incremental progress in reducing some investment constraints, such as taking steps to improve the reliability of electricity. Still, inadequate infrastructure, limited financing instruments, bureaucratic delays, poorly enforced labor laws, and corruption continue to thwart foreign investment, according to "The 2022 Investment Climate Statement," released Thursday.

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