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Launching of UNCTAD’s LDC Countries Report

20 July 2006

Bangladesh lined up behind some of the war-torn and vulnerable countries to become the ninth largest foreign direct investment (FDI) recipient among the least developed countries (LDC) in 2004.

Dr Debapriya Bhattacharya, executive director of CPD said Bangladesh might even be at the bottom of 20 such countries when it comes to per capita FDI inflow because "per capita FDI inflow in Bangladesh was only $3.3".

According to a United Nations Conference on Trade and Development (Unctad) report released yesterday, net FDI inflow in the LDC countries was $10.7 billion in 2004 while Bangladesh received $ 460.4 million, which was only four percent of the total FDI inflow. Angola was the highest recipient of net FDI inflow with $2,047 million in 2004, followed by Equatorial Guinea with $1,664 million, Sudan $1,511 million, D.R.Congo $900 million, Myanmar $556 million, Ethiopia $545 million, Chad $478 million, and Tanzania $470 million, the report said.

'Unctad's LDC Report 2006: Developing Productive Capacity' was simultaneously released across the globe. Centre for Policy Dialogue, a civil society think-tank, made the report available at CPD office in Dhaka on behalf of Unctad. CPD prepared an analysis based on the Unctad's report titled: 'Where does Bangladesh stand among LDCs?'

Releasing the report, Debapriya said there is nothing to be excited in attracting FDI in the country as Bangladesh remained behind Sudan, D.R.Congo, Myanmar, Ethiopia, Chad and Tanzania. Those who feel that FDI inflow has increased substantially in the country are ignorant about the global perspective, he said noting that these people are trying to highlight their success instead of portraying the real picture.

Apart from per capita FDI inflow, Bangladesh remains below the LDC per capita average in labour productivity in non-agricultural sector, adult literacy, electricity capacity and ICT infrastructure, mentioned Debapriya."These are very important areas in the economic development and many of our successes in other sectors may be faded due to the weaknesses in these areas," Debapriya explained.