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World Bank Marks the Economic Impediments

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By A Pro-Bangladeshi

World Bank has highlighted four major hindrances in the economic growth of any nation. They have said that the chaotic situation in Middle-East, shortage of Euro, ever increasing price of oil in the international market and local energy crisis are the main issues behind the sloth speed economic development of a nation. The government of Bangladesh has to put their focus on these issues to attract more foreign direct investment in the country.

The energy crisis of Bangladesh is now worse than ever. The already established factories in the country are suffering from production loss due to heavy load shedding. This situation is repelling new investors from establishing industries in Bangladesh. The new power plants set up by the current government are all oil run. This is also a major problem for foreign investors as the price of oil is continuously increasing in the international market. The price hike of oil is causing the production cost to go up. The prospect of a low profit is making the foreign investors have second thoughts about investing in Bangladesh.

The internal conflicts in the Middle Eastern countries are also having a negative impact on the economy of Bangladesh. The Bangladeshi emigrants working on those countries used to send approximately US$12 billion in remittance per year to Bangladesh. The conflicts have stopped their work and sharply reduced the annual remittance Bangladesh used to get from that sector. Therefore, the government is facing trouble importing a lot of raw materials needed for the industries and also they are being unable to develop the infrastructure of the already established industries.

Therefore the overall situation in Bangladesh is not so appealing for the foreign investors right now. The government cannot do anything about the international situation but the internal crisis such as the shortage of electricity can be resolved to attract more FDI in Bangladesh.
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