Bangladesh News Bangladesh - U.S.A Relation

yf120

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It just did and what I said was not a speculation.

Only one part of the picture+ also France is more positive on helping in our aviation sector.

Obviously this decision will have consequences and Biman will go through a tough time.It is to show that BD is willing to make drastic decisions if pushed too far and from which US can potentially loose billions.In the bigger picture, Govt wont go in the China camp and will contenue to have good relations with USA but the relations will never reach to the point where US is trying to take it.

Speaking of defence, at this moment major defence procurements are likely to happen from US including big purchases like BAFs MRSAM,F-16s,drones,attack helos+They also want to sell maritime strike fighters,trainers And numerus big and small products BA,BN.If these are cancelled then BD can easily source many of these from European suppliers and countries like Turkey,S.Korea or even China if needed.And AFD WON'T face the problems biman is going to face if it chooses to ditch US suppliers for the procurements I have mentioned.Only problem would be that they may not find suitable replacements for some US made items from other countries and in the worst case senario, some programs may face long delays But as we all already know, defence is not a main priority for BD right now and so they won't take issues like this seriusly.Delays in defence purchase is not a new thing in BD.

Selling defence equipments will not only add dollars to US suppliers It will also make BD greatly reliant on US(something US has succesfully done with Biman) and give US a certain level of indirect control over BD armed forces(this will depend on how much we buy and in what conditions) even in if we can get a favorable deal from them.US will definetly not want to loose these at this point. and same might happen to some non military programs as well.

You can easily see that the RAB sanctions are not the only issue here.If we buy their kit in deals made completely in their terms, we will more or less become their political hostage and then there's the China issue.There is no point in having a strong armed forces if we can't use them at our will at least when we need and makes zero sense in spending billions.Its my sincere hope that we find a middle ground based on which both countries can move forward if no then we are better of with what we can get.
What? Biman has been going through a tough time probably since the beginning. It just needed to stop, but nope. :


There are hundreds more similar reports like this, and could you believe they have been using the reserve dollar money to run it?

major defence procurements are likely to happen from US including big purchases like BAFs MRSAM,F-16s,drones,attack helos+They also want to sell maritime strike fighters,trainers And numerus big and small products BA,BN
REALLY?
The US already has the leverage over army since military ruled dictatorship of the country. The UN missions, the trainings, giving arms for free etc are just the basic proofs. The RAB that you mentioned sanctioning for killing a few anti-state Islamists was not the main reason, you know that very well. The US themselves created RAB in their 'War on Terror" campaign, so they do have the right to sanction them in many ways, especially when there are valid reasons to do so. Not just poof-puff! Anyways, I don't believe the US vs. China is the main issue in BD, meaning China and the USA won't mind the balancing act, but the other third country will make the mess because there are several examples and also it has been proven multiple times of their influence and manipulation in the country's many sectors.

Look man, I'm not biased or defending or bashing anyone. I just wanted to look at things factually. No hard feelings
 

PutinBro

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REALLY?
The US already has the leverage over army since military ruled dictatorship of the country. The UN missions, the trainings, giving arms for free etc are just the basic proofs. The RAB that you mentioned sanctioning for killing a few anti-state Islamists was not the main reason, you know that very well. The US themselves created RAB in their 'War on Terror" campaign, so they do have the right to sanction them in many ways, especially when there are valid reasons to do so. Not just poof-puff! Anyways, I don't believe the US vs. China is the main issue in BD, meaning China and the USA won't mind the balancing act, but the other third country will make the mess because there are several examples and also it has been proven multiple times of their influence and manipulation in the country's many sectors.

Look man, I'm not biased or defending or bashing anyone. I just wanted to look at things factually. No hard feelings
The info regarding purchase of equipments I had mentioned was not based on any speculative theory of mine.Also the decision to ban major products from US is official now....


Sheikh Hasina has ordered officials not to buy products from countries that have clamped sanctions on Bangladesh.

Hasina hinted at changing the policy on Saturday and confirmed it at a press briefing over her recent trip to Japan, the United States and the United Kingdom on Monday. She said she had asked for the inclusion of a new clause in the government procurement policy to ban the purchase of products from these countries.

The prime minister said she would speak to the finance ministry and had given instructions to the planning ministry about the matter.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://bdnews24.com/amp/story/business%2F0xm380j2hv&ved=2ahUKEwjk7rrrzfj-AhUibGwGHRA4CrEQFnoECBQQAQ&usg=AOvVaw34iWlXVye01hq71yH_5euW

@yf120 Satisfied now??
 
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PutinBro

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REALLY?
The US already has the leverage over army since military ruled dictatorship of the country. The UN missions, the trainings, giving arms for free etc are just the basic proofs.
Btw,, you "REALLY" believe these things gives them the same leverage as being the main supplier of the capital assets of BAF and BN??😑😑

Look man, I'm not biased or defending or bashing anyone. I just wanted to look at things factually. No hard feelings
Yeah...
 
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yf120

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The info regarding purchase of equipments I had mentioned was not based on any speculative theory of mine.Also the decision to ban major products from US is official now....


Sheikh Hasina has ordered officials not to buy products from countries that have clamped sanctions on Bangladesh.

Hasina hinted at changing the policy on Saturday and confirmed it at a press briefing over her recent trip to Japan, the United States and the United Kingdom on Monday. She said she had asked for the inclusion of a new clause in the government procurement policy to ban the purchase of products from these countries.

The prime minister said she would speak to the finance ministry and had given instructions to the planning ministry about the matter.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://bdnews24.com/amp/story/business%2F0xm380j2hv&ved=2ahUKEwjk7rrrzfj-AhUibGwGHRA4CrEQFnoECBQQAQ&usg=AOvVaw34iWlXVye01hq71yH_5euW

@yf120 Satisfied now??
I'm sorry, what's the satisfaction here? and I was genuinely asking about the speculation information because of the GSMOIA and ACSA contracts? The PM's order not to buy products from the USA looks like one of those usual political dialogues for the local politicians. What do you mean it's official? Where do you see the documents? If this happens, then how are defense procurements likely to happen from the US, just like you said? Contradictions are all over the place. Do you even see the reality and consequences if something like this happens? You're sounding like BD holds power over the US


Btw,, you "REALLY" believe these things gives them the same leverage as being the main supplier of the capital assets of BAF and BN??😑😑


Yeah...
It looks like you've heard about this leverage thing for the first time and are also pretty pissed off at me. That's not how it works. There are many cases where BA is using the budget money that's been allocated for BAF and BN, though after the 2008 naval standoff, BA didn't do anything significant like this to BN. That's a surface level example of how much power BA has.
Let me get you triggered more at me, probably many of the members will agree, as most of your discussions here in the forum seem like partial comments from the government representative, politically motivated rather than personal opinions based on what will actually happen
 

PutinBro

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I'm sorry, what's the satisfaction here? and I was genuinely asking about the speculation information because of the GSMOIA and ACSA contracts?
BD won't sign ACSA anytime soon.GSOMIA* will be signed within few months, likely at the BD-US security dialogue which is supposed to happen in Dhaka this year.

Also as things stand, GSOMIA is not going to result in mega purchases unless relations with US improves.You don't need to believe me.Wait and see.
Do you even see the reality and consequences if something like this happens? You're sounding like BD holds power over the US
Guess what? Things may actually improve as you can see, যুক্তরাষ্ট্র আর কোন নিষেধাজ্ঞা দেবে না: বেদান্ত প্যাটেল.Moodswing issues I guess...
I'm sorry, what's the satisfaction here? and I was genuinely asking about the speculation information because of the GSMOIA and ACSA contracts? The PM's order not to buy products from the USA looks like one of those usual political dialogues for the local politicians. What do you mean it's official? Where do you see the documents? If this happens, then how are defense procurements likely to happen from the US, just like you said? Contradictions are all over the place.
Contradictions!!? A purchase ban on major US military products was the main topic of my 1st reply to you and thats why I even brought the topic of F-16 and stuffs to discussion to explain what might happen if we chose to ditch US suppliers for the contracts.Now exactly that has happened.Yes, I did speak about defence purchases in my previous reply but those are almost 2-3 year old info and months have passed since I first spoke about F-16 in this forum.You can ask other active members if you want.

Did you for ... sake even bother to read through my 1st reply?
 

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The government will import 12,500 metric tons (MT) of sugar and 220,000 MT of fertliser to meet the domestic requirements.

Cabinet Committee on Government Purchase (CCGP) in a meeting on Wednesday (17 May) approved a number of proposals in this regard. Finance Minister AHM Mustafa Kamal presided over the meeting held virtually.

According to a proposal of the Commerce Ministry, its subordinate body Trading Corporation of Bangladesh (TCB) will import the sugar from Accentuate Technology Inc, USA (Local Agent: OMC Ltd, Dhaka) through an international open tender system at total cost of Tk66.27 crore with per kilogram (kg) cost at Tk82.85.

Additional secretary to the Cabinet Division Sayeed Mahbub Khan, who briefed reporters about the Cabinet body meeting, said while approving the proposal the issue of the Prime Minister's instruction not to import any goods from any country which imposed sanction on Bangladesh was not discussed in the meeting.

The committee approved two separate proposals of the Industries Ministry to import a total of 60,000 MT of urea fertilizer and 10,000 MT of phosphoric acid by its subordinate body Bangladesh Chemical Industries Corporation (BCIC).

Of these, 30,000 MT of bagged granular urea will be procured from Karnaphuli Fertilizer Company Limited (Kafco) at cost of Tk120.03 crore with per MT price at $371.25 while another 30,000 MT bulk granular urea fertiliser will be imported from SABIC Agri-nutrients Company of Saudi Arabia at a cost of Tk106.25 crore with per MT price at $327.33.

The BCI will import 10,000 MT of phosphoric acid at Tk60.95 crore from Sun International FZE, UAE (Local Agent: M/s Agro Industrial Input, Dhaka) for TSP Complex Limited, Chittagong. Each MT of acid will cost $566.50.

The CCGP approved a total of six proposals of Bangladesh Agriculture Development Corporation (BADC), placed by the Agriculture Ministry, for importing a total of 160,000 MT of different types of fertilizers.

Of these, the BADC will import 40,000 MT of DAP fertilizer from MA'ADEN, Saudi Arabia at a cost Tk229.33 crore, $532 under the state level contract.

It will import 30,000 MT of TSP fertiliser from OCP, S.A. of Morocco at a cost Tk126.57 crore, with each MT price at $391.50, under the state level contract while 40,000 MT of DAP fertilizer will be imported from the same company of Morocco at a cost of Tk233.42 crore with per MT price at $541.5.

The BADC will import 50,000 MT of Muriate of Potash (MOP) fertiliser from the Canadian Commercial Corporation under the state-level contract at a cost of Tk225.23crore, with per MT price at $418.

The CCGP approved a proposal of the Local Government Division to extend the cost of the consultant by Tk11.1 crore for its project "Water Supply and Sanitation in 23 Municipalities of Bangladesh (1st Revised)" being implemented by the Department of Public Health Engineering.

Joint Venture of (1) Ranhill, (2) Farhat and (3) DDC had been appointed as consultant for the project.

 

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Congratulations to Bangladeshi cadets Md. Mehedi Hasan Sihab, Afnan Al Ammar, and Nafiz Uddin Ahmed Sirajee on their official appointments to attend the U.S. Military Academy at West Point and United States Naval Academy at Annapolis.

On May 16th, Ambassador Haas welcomed them to the U.S. Embassy to hand them their certificates of scholarship. The three cadets are currently attending the Bangladesh Military Academy and Bangladesh Naval Academy in Chattogram. They will travel to the United States soon to begin their four-year program of education and training.

1684410012129.png
 

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It looks like you've heard about this leverage thing for the first time and are also pretty pissed off at me. That's not how it works. There are many cases where BA is using the budget money that's been allocated for BAF and BN, though after the 2008 naval standoff, BA didn't do anything significant like this to BN. That's a surface level example of how much power BA has.
Why bring BA here time to time?It seems you lack basic knowledge about how things work.

BA doesn't have much US made weapons in inventory and ground forces are by nature, a manpower based organisation.Same is not true for Navy and Air force.I won't go into details but let me tell you this, pilots can't FLY if their jets are grounded and sailors can't become BIOLOGICAL suicide MISSILES by entering VLS in case we are having problems with our munitions MRO.

You can ask in the Turkish defence forum about what can happen if USA blocks spare parts and necessary munitions.For which BD will be more dependent on US than Turkey.At this moment there's not even guarantee that we we'll receive full weapons package+ there's the old issue of restrictions with their products.In short the leverage they will get from such deals is much greater than what they currently have with BD armed forces.

You expressed concerns about a certain third country in your previous reply.Can you guarantee that US will not question BD if it ever had to intercept that countrys jet?It did with it's old fella Pakistan.
Let me get you triggered more at me, probably many of the members will agree, as most of your discussions here in the forum seem like partial comments from the government representative, politically motivated rather than personal opinions based on what will actually happen
Alright.I'm a member for nearly a year and have more than 90 messages posted in this forum.I will be glad if you show me 20 political messages I've made about BD politics excluding this discussion.(As most of my discussions are political)You can directly access messages from my account.
 
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yf120

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You are twisting your own comments and narratives left and right, as well as got some wrong reading comprehension. NOT a political message, but political leaning biased comments that tend to push certain narratives rather than posting objective information. The recent "official remark" or "BD doesn't have the luxury or power" reply is one of the latest tiny examples here in this section, and I'm not that childish to point out your messages. If you are mature enough, then you will figure those out. Especially when the frustration is easily visible in the back-to-back comments full of emojis and reactions, I don't dare to continue this kind of debate. Take those as constructive criticism, and if you are really that concerned, then ask someone else.

You seem to be giving back my own how it works message. Inventory and weapons have very little to do with the "leverage" thing, and that's why I said that's not how it works. Why do you think I mentioned the country's military dictatorship period? I know what I'm saying and BA has been brought up multiple times in the discussion because they're the largest force and historically have had influence in the whole armed forces as well as in politics. It looks like it's the other way around about knowledge. Study more, especially regarding our political history where our army is also intertwined

You can ask in the Turkish defence forum about what can happen if USA blocks spare parts and necessary munitions.For which BD will be more dependent on US than Turkey.At this moment there's not even guarantee that we we'll receive full weapons package+ there's the old issue of restrictions with their products.In short the leverage they will get from such deals is much greater than what they currently have with BD armed forces.
Yes, agreed, but this has to do with which part of my discussion? And you definitely think I support US weapons buying, what makes you think that? My rab sanction remark? what else?

You expressed concerns about a certain third country in your previous reply.Can you guarantee that US will not question BD if it ever had to intercept that countrys jet?It did with it's old fella Pakistan.
Again, completely wrong reading comprehension or only aware of the one sided narrative. I mentioned that because, for example, if we acquire the J-10C, the US won't mind, and vice versa for China. We wouldn't have seen this much Chinese investment and military inventory if the US had minded, and all would have stopped 10/20/30 years ago. This also somehow has to do with ping-pong diplomacy. But that third country will mind and will try hard politically to stop the acquisition, which has happened before and will happen more in the future. Revelation of our weak foreign policy. Hashailen bhai, forget any interception, for the sake of argument lets say if that country invades us, then I doubt we would even get probably 1% support from the US, as that will probably go against their interests and bigger stake. That's how geopolitics work, there's nothing wrong with it, and that's why we will always need China. Turkey is also becoming a great alternative, hopefully they will not betray us in the distant future. BTW I always preferred the J-10C over the F-16 in our single engine inventory. I already expected the J-10 back in the 2012–2014 pre-election timeline but as usual, damn that dirty regional politics ruined it






The government will import 12,500 metric tons (MT) of sugar and 220,000 MT of fertliser to meet the domestic requirements.

Cabinet Committee on Government Purchase (CCGP) in a meeting on Wednesday (17 May) approved a number of proposals in this regard. Finance Minister AHM Mustafa Kamal presided over the meeting held virtually.

According to a proposal of the Commerce Ministry, its subordinate body Trading Corporation of Bangladesh (TCB) will import the sugar from Accentuate Technology Inc, USA (Local Agent: OMC Ltd, Dhaka) through an international open tender system at total cost of Tk66.27 crore with per kilogram (kg) cost at Tk82.85.

Additional secretary to the Cabinet Division Sayeed Mahbub Khan, who briefed reporters about the Cabinet body meeting, said while approving the proposal the issue of the Prime Minister's instruction not to import any goods from any country which imposed sanction on Bangladesh was not discussed in the meeting.

The committee approved two separate proposals of the Industries Ministry to import a total of 60,000 MT of urea fertilizer and 10,000 MT of phosphoric acid by its subordinate body Bangladesh Chemical Industries Corporation (BCIC).

Of these, 30,000 MT of bagged granular urea will be procured from Karnaphuli Fertilizer Company Limited (Kafco) at cost of Tk120.03 crore with per MT price at $371.25 while another 30,000 MT bulk granular urea fertiliser will be imported from SABIC Agri-nutrients Company of Saudi Arabia at a cost of Tk106.25 crore with per MT price at $327.33.

The BCI will import 10,000 MT of phosphoric acid at Tk60.95 crore from Sun International FZE, UAE (Local Agent: M/s Agro Industrial Input, Dhaka) for TSP Complex Limited, Chittagong. Each MT of acid will cost $566.50.

The CCGP approved a total of six proposals of Bangladesh Agriculture Development Corporation (BADC), placed by the Agriculture Ministry, for importing a total of 160,000 MT of different types of fertilizers.

Of these, the BADC will import 40,000 MT of DAP fertilizer from MA'ADEN, Saudi Arabia at a cost Tk229.33 crore, $532 under the state level contract.

It will import 30,000 MT of TSP fertiliser from OCP, S.A. of Morocco at a cost Tk126.57 crore, with each MT price at $391.50, under the state level contract while 40,000 MT of DAP fertilizer will be imported from the same company of Morocco at a cost of Tk233.42 crore with per MT price at $541.5.

The BADC will import 50,000 MT of Muriate of Potash (MOP) fertiliser from the Canadian Commercial Corporation under the state-level contract at a cost of Tk225.23crore, with per MT price at $418.

The CCGP approved a proposal of the Local Government Division to extend the cost of the consultant by Tk11.1 crore for its project "Water Supply and Sanitation in 23 Municipalities of Bangladesh (1st Revised)" being implemented by the Department of Public Health Engineering.

Joint Venture of (1) Ranhill, (2) Farhat and (3) DDC had been appointed as consultant for the project.

In before Putin Bae says it's because of the result of the PM's recent threat


 
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Afif

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good decision

I have a feeling this is just beginning.

They may introduce economic sanctions against said 'individuals' gradually if state department feels it will serve their objective.
 

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State Minister for Foreign Affairs Md Shahriar Alam said yesterday that the new visa policy announced by the US government "does not bother" the government of Bangladesh as authorities are "committed" to holding a free and fair election.

"It's not a sanction. BNP should be worried as violence before or during election is another criterion that will trigger visa restriction," he told UNB in a quick response when his reaction was sought.

The state minister said they will give official reaction in detail once they know details about the policy today.


The Counter Terrorism Unit of Chattogram Metropolitan Police for the first time got two bomb disposal robots from the United States of America on Sunday.

The robots handed over on Sunday to the bomb disposal unit for free as part of the US Embassy’s anti-terrorist support programme, said CMP’s Counter Terrorism Unit assistant deputy commissioner Asif Mohiuddin.

He said that the robots are scheduled to be handed over to the CMP commissioner on Sunday at city’s Dampara Police Lines.

US Embassy in Dhaka senior counter-terrorism adviser Ricky B Chambers will hand over two Explosive Ordnance Disposal robots with complete setup.

He said that bomb disposal experts will be given two-week training by EOD technicians to operate the robots.

The remotely controlled robots are capable of defuse explosives on the spot or move them to a safer place without physical touch, said the CMP sources.

 

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State Minister for Foreign Affairs Md Shahriar Alam said yesterday that the new visa policy announced by the US government "does not bother" the government of Bangladesh as authorities are "committed" to holding a free and fair election.

"It's not a sanction. BNP should be worried as violence before or during election is another criterion that will trigger visa restriction," he told UNB in a quick response when his reaction was sought.

The state minister said they will give official reaction in detail once they know details about the policy today.

Foreign Minister Dr A K Abdul Momen has reassured that the recent visa policy introduced by the US in light of the elections is not causing additional pressure on the country.

Addressing a press briefing at the ministry in Dhaka today (Thursday, 25), Momen responded to reporters' queries, saying, "They [the US] have done their job, now we will do ours."

Moreover, the minister emphasised that the visa policy aligns with the government's dedication and efforts in organising transparent and impartial polls.

He further highlighted that the new visa policy does not strain the relationship between Bangladesh and the US; instead, it signifies a strong and positive bilateral bond.

"The current state of our relationship with them [the US] is not strained; in fact, it remains highly favourable," Minister Momen affirmed.



The US has said it supports Prime Minister Sheikh Hasina's commitment to free and fair elections, expressing concerns over "actions that undermine democracy and human rights in Bangladesh".

"I think what we will say is Prime Minister Hasina has committed to supporting free and fair elections. We and the policy that we announced today is designed to support those efforts, as well as the efforts of the Bangladeshi people to having elections where the Bangladeshi people can choose their leaders," US State Department Spokesperson Matthew Miller said on Wednesday (24 May).

"And I will say lastly, as friends, we have expressed our concerns where we see actions that undermine democracy and human rights in Bangladesh," he added.

 

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The Centre for Policy Dialogue (CPD) yesterday raised the flag over the US replacing Saudi Arabia to become Bangladesh's foremost source of remittance in the July-April period of the current fiscal year.

A vested quarter might be sending back black money, which they had earlier illegally taken out of the country, in the form of remittance availing an existing 2.5 per cent government incentive, said the think-tank.

A total of 9.22 lakh people went abroad for work during the first 10 months of the current fiscal year of 2022-23, which is significantly high, said Fahmida Khatun, executive director of the CPD.

A majority of these people went to the Gulf countries but the remittance flows from this region did not match this rising number, she said.

During this period, remittance coming from Saudi Arabia came down to $3.04 billion from $3.86 billion in the same period of fiscal year 2021-22, said the CPD's study.

Meanwhile, remittance from the US increased to $3.05 billion from $2.87 billion in the corresponding period of the previous year, said the CPD's study.

The trends in remittance flows do not match the growing number of migrant workers leaving for the overseas job markets, said Fahmida Khatun while sharing the CPD's review of the state of the Bangladesh economy at its office.

"Consequently, the trends in sources of remittance flows raise serious concerns," she added.

The rise in inflow of remittance from the US is unusual. Many people sell their homes and take the money to the US. Many students have studied there and they cannot send money home, said Fahmida Khatun.

"So where does this money come from?" she asked.

She believes this money was illegally earned and laundered abroad earlier and in recent periods was being sent back to the country in the form of remittance, thereby cleaning up its source, and in addition availing a 2.5 per cent government incentive on remittance.

"Money laundering is illegal and there is a tax structure in the country but they (vested quarters) are taking advantage of it using the mode of remittance," she said.

Fahmida Khatun urged the authorities concerned to delve deep into the matter and take appropriate steps.

"We don't see any reflection (in remittance flows) of the fact that about 21 lakh people went out of the country from January 2021 to April 2023," said Prof Mustafizur Rahman, a distinguished fellow of the CPD, at the event.

"It should be thoroughly investigated," he said.

The government should increase its institutional capacity focusing remittance instead of adopting the usual method of offering incentives through the budget, said the economist

It should also enhance its forensic capabilities and ensure effective measures on both the demand and supply side of money transfers, he said.

Besides, the volume of gold being brought in from abroad has risen significantly in the country instead of remittance through Bangladesh Bank, said Prof Rahman.

In 2020, around 5 tonnes entered whereas in 2022 it rose to 54 tonnes. In contrast, the country's annual demand is around 20 tonnes, he said quoting media reports.

"The money, which is supposed to improve the foreign currency reserves, is coming into the country through other ways and might be flying out to other countries," said Rahman.

"Why would the government not intervene?" he asked.

The economist also criticised the role of the government's financial intelligence unit was playing with regard to stopping money laundering and recovering money laundered abroad.

He suggested that the government sign bilateral deals with countries on issues such as recovery of laundered money and repatriating citizens being held as prisoners abroad.

Among others, Khondaker Golam Moazzem, research director of the CPD, and Towfiqul Islam Khan, senior research fellow, were present.

 

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Despite the much effort, such as international road shows, the negative trend in foreign investments in the country's bourse has continued since 2018. Investors from the United States of America, in particular, have dropped dramatically in 2022.

According to the latest Bangladesh Bank projection, US investment in Bangladesh's stock market will shrunk by 33.7% in 2022 compared to the previous year.

Despite a declining trend, US-based investors remain at the top of the list. Foreign investors residing in the United States accounted for 55.2% of total foreign investment in the capital market.

According to data analysis, investment by US nationals in Bangladesh's capital market fell to $697.67 million at the end of 2022, down from $1,052.97 million in 2021.

Foreign investment in the country's capital market fell to $1,263 million in 2022, down from $1,925 million in 2021.

In 2022, the foreign currency balance in non-resident investor's taka accounts (NITA) was $63.32 million, up from $26.37 million in FY21.

Luxembourg investors came in second with $155 million or 12.3%, while United Kingdom investors came in third with $139.42 million or 11% of total foreign investments in 2022.

In 2021, Luxembourg and the United Kingdom invested $289.15 million and $205.92 million, respectively, in the country's capital market.

Singapore-based investors invested $103.48 million in 2022, somewhat less than the $141.59 million invested in 2021.

In FY22, outside countries invested $64.89 million in the country's stock market.

Investments from Mauritius and the Cayman Islands fell to $9.65 million and $10.76 million, respectively, in 2022, from $48.57 million and $17.24 million in the previous year.

Investments from Canada, Pakistan and the UAE also dropped to $43.04 million, $12.6 million and $10.12 million respectively in 2022, down from $43.49 million, $17 million and $12.13 million respectively in 2021.

However, investments from the British Virgin Islands soared to $30.3 million in 2022 from $14.07 million in 2021.

What insiders say

Market insiders said that the global investors are distancing themselves owing to their long-held fear of a massive depreciation of the local currency against US dollars and repeated changes in policies that hurt listed firms.

The worry related to the currency deepened first by the Covid-19 pandemic and then by the Russian war in Ukraine.

Experts believe that hiking policy rates in the United States and other countries have made it more desirable for foreign investors to invest in such countries.

Volatility and market dangers may also lead foreign investors to move their cash to safe havens, they noted.

However, in order to attract more international investments, the Bangladesh Securities and Exchange Commission (BSEC) has organized roadshows in the United Arab Emirates, the United States, Switzerland, the United Kingdom, and Japan since 2020. However, the measures have failed to produce any significant evident beneficial results.

 

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