Rivals need to be outshone to woo FDIs in Bangladesh: Zakir Hossain

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Bangladesh needs to enhance its infrastructure, bolster social safety and security measures, and effectively harness its substantial workforce to attract more foreign investors and Foreign Direct Investment (FDI) in the economic zones, said M Zakir Hossain, chief executive of Young Consultants, a pioneer in consulting and conducting feasibility studies for economic zones development in Bangladesh. An experienced consultant in the field of economic zones, Zakir, a certified management consultant, who has dedicated a significant portion of his career to the field, underscored the imperative need for the government to adopt comprehensive and well-conceived strategies to foster this sector’s growth.
Reflecting on the current economic scenario within Bangladesh’s economic zones, Zakir remarked, ‘From my observations, Bangladesh has already created a conducive environment for investors and FDI, with tangible investments already flowing into these economic zones, but the country needs to do more.’
Zakir, who also serves as the chairman of the Institute of Management Consultants Bangladesh (IMCB), emphasised the importance of understanding and competing with rival nations.
He stated, ‘FDI won’t come knocking at our door. We must actively attract it to our country by positioning ourselves favourably to foreign investors and offering superior facilities compared to our competitors.’
Although some private entities have achieved success in attracting foreign investors from countries such as Australia, Hong Kong, China, Turkey, Japan, India and Germany, Zakir believed ‘There’s much work yet to be done’.
Beginning with a focus on infrastructural improvements in the country’s economic zones, Zakir pointed out that these zones required a range of essential facilities, including utility connections such as gas, electricity, and water, internal road networks, drainage systems, Central Effluent Treatment Plants (CETPs), solid waste treatment facilities, and warehouses.
Link for the full interview:


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