Although foreign direct investment (FDI) in Bangladesh declined by more than 7 per cent to US $ 3.2 billion in fiscal year 2022-23 (FY ’23), the textile sector recorded the highest FDI at US $ 1.229 billion, according to recent data released by the central bank, Bangladesh Bank. The textile industry received US $ 435 million in FDI from South Korea, followed by Hong Kong (US $ 174 million), China (US $ 112 million) and India (US $ 54 million). The highest total foreign direct investment was in the United Kingdom (US $ 622 million), followed by South Korea (US $ 603 million). Other major contributors include the Netherlands (US $ 512 million), Hong Kong (US $ 371 million), the United States (US $ 347.2 million), Singapore (US $ 330.62 million) and China (US $ 2.32 million). According to domestic media reports, the country’s energy sector received US $ 340 million in foreign direct investment, including US $ 111 million from the Netherlands and US $ 202 million from the United States.

Source: Economic Times October 25, 2023 12:41 UTC