BD posts $3.48b FDI inflow in 2022, up by 20.16pc

Foreign direct investment (FDI) in Bangladesh rose by 20.16 per cent to $3.48 billion in 2022, according to a report of a UN agency. In 2021, the FDI flows were US$2.89 billion. Outward FDI from Bangladesh, however, declined by 42.7 per cent to US$ 53 million in 2022 against $92 million in 2021, according to the ‘World Investment Report 2023’ of the United Nations Conference on Trade and Development (UNCTAD) published on July 5. In South Asia, FDI flows to India rose by 10 per cent to $49 billion as the country became the third-largest host country in terms of green field project announcements and the second-largest for international project finance deals. FDI in Bangladesh grew by 20 per cent to $3.5 billion. The top five FDI recipient countries are Ethiopia, Cambodia, Bangladesh, Senegal and Mozambique, accounting for about 70 per cent of the total. FDI in developing countries in Asia remained flat at $662 billion in 2022, about half of global inflows. Inflows were highly concentrated in five economies–China, Singapore, Hong Kong (China), India and the United Arab Emirates and in that order accounted for almost 80 per cent of FDI in the region. Inflows to China rose by 5 per cent to $189 billion, mainly in manufacturing and high-tech industries and mostly from European multinational enterprises (MNEs). Flows to Hong Kong (China) fell by 16 per cent to $118 billion. Singapore registered another record as the inflow was up 8.0 per cent to $141 billion. The report shows that global FDI declined by 12 per cent in 2022 to $1.3 trillion, after a strong rebound in 2021 following the steep drop induced by COVID-19 in 2020.

Source: https://today.thefinancialexpress.com.bd/last-page/bd-posts-348b-fdi-inflow-in-2022-up-by-2016pc-1688924420

Ceramics export rises to four-year high in FY23

Bangladesh’s exports of ceramic products rose to a four-year high in the just-concluded fiscal year although the growth slowed as manufacturers failed to deliver products on time owing to the shortage of gas. The industry fetched $43.39 million from the shipment of ceramic products in 2022-23, up 4.91 per cent year-on-year, according to the Export Promotion Bureau. The export grew 32.95 per cent in 2021-22 and 11.23 per cent in 2020-21. The receipts in FY23 were way lower than the $68.97 million exporters brought home in 2018-19, the year before the pandemic struck the country.

Source: https://www.thedailystar.net/business/economy/news/ceramics-export-rises-four-year-high-fy23-3365206

Monthly mobile top-up thru MFS tops Tk 1,000cr for first time

Customers are increasingly opting for mobile financial services to top up balances, helping mobile carriers earn more than Tk 1,000 crore a month for the first time from the sales processed through MFS providers. Mobile phone recharging through MFS providers rose 7.69 per cent to Tk 1,017 crore in April from a month ago, data from the Bangladesh Bank showed. The growth was about 30 per cent year-on-year. The amount stood at around Tk 375 crore five years back. In Bangladesh, mobile top-up through digital means has risen sharply in recent years on the back of a surge in MFS users and debit and credit card users.

Source: https://www.thedailystar.net/business/economy/news/monthly-mobile-top-thru-mfs-tops-tk-1000cr-first-time-3365196