Dhaka, Sept 29: Concerns over law and order, red tapism, corruption and political interference were key constraints to foreign investment in Bangladesh, outgoing British High Commissioner to Dhaka David Carter has said. "Foreign investor confidence in Bangladesh is influenced by concerns over law and order, red tapism, corruption, political interference, absence of a level playing field and shortcomings in the physical infrastructure," Carter told a function of Foreign Investor's Chamber of Commerce and Industry here.

He said some household names among global companies have concluded that their investment in the country is better spent elsewhere, the financial express reported today. Stressing on promotion of better environment for business, Carter said a reduction in corruption would cut costs and reduced protectionism and cronyism would improve the quality of business support system.

American envoy to Dhaka Harry K Thomas Thursday said US investments in Bangladesh have dropped due to "prevailing sense of insecurity and will not pick up if the law and order situation does not improve," the 'new age' daily reported. On Saturday, the opposition Awami League enforced a countrywide dawn-to-dusk hartal to protest, among other things, "deterioration" in law and order situation and killing of al workers allegedly by "ruling party men".

Bureau Report