Govt will ensure safety of foreign investments, uphold human rights: Adviser Touhid (2024)

The Ministry of Foreign Affairs has reassured diplomats stationed in Dhaka about protection of foreign investments, safety and security of foreign nationals, and the government's commitment to upholding human rights.

The affirmation came from Foreign Affairs Adviser Md Touhid Hossain during a diplomatic briefing at the state guesthouse Padma today, where ambassadors and high commissioners from various missions raised their concerns on several issues.

Talking to reporters, Touhid said the diplomats raised their concerns about the safety of their families and residences in the current political climate and "we assured them that more security will be provided within a few days after consulting with the home affairs adviser."

Regarding foreign investments in the country, he said, "We told them that they should not be disappointed. Security will be ensured so that their investments can be protected."

"The interim government will give particular attention to far-reaching financial sector reform, with priority attached to combating corruption, mismanagement and anomalies," he told diplomats during the closed-door briefing to envoys.

The government urged all the development partners, including the multilateral development banks and other international financial institutions, to extend meaningful support to Bangladesh to help tide over the economic challenges.

The government also called upon international trade and investment partners to maintain their trust in Bangladesh, and work in partnership with Bangladesh to help improve the labour sector, environmental standards and logistics efficiency, he said.

Some of the diplomats wanted to know about security measures and Rohingya issues apart from issues related to the prevailing situation.

"We seek continued support of the international community in Rohingya humanitarian operations and their sustainable repatriation," he said.

Emerging from the briefing, one of the diplomats told news agency UNB that the main discussion was centred on the present situation of Bangladesh.

Chinese Ambassador to Bangladesh Yao Wen termed the present condition of Bangladesh as its internal affair.

"It is the internal affairs of Bangladesh," he said, adding that China welcomes the formation of the interim government and "will continue to work with Bangladesh."

Russian ambassador Aleksandr Mantytsky wished for the success of the new interim government of Bangladesh and said, "I hope the Russia-Bangladesh relationship will continue to flourish."

Human rights top priority of interim govt

After the briefing, Touhid told reporters, "Human rights is one of the concerns of the diplomats. We said we are working on eliminating discrimination in order to uphold human rights. Because, students protested against discrimination."

He conveyed to the diplomats that the interim government is very serious about human rights issues. The adviser referred to the inclusion of advisers who have track records of working on human rights issues.

He told diplomats that the interim government remains committed to promoting and protecting the fundamental rights and freedoms, including the right to peaceful assembly and freedom of expression.

Referring to the recent student protest, he told diplomats, "You are all aware that Bangladesh witnessed a second liberation last week through a mass uprising spearheaded by valiant students. The then Awami League government, in their efforts to suppress the popular movement, committed gross human rights violations by abusing and misusing the state power."

"However, the sheer force of 'people's power' added momentum to the movement leading to the fall of the authoritarian regime," he said.

The interim government makes it a priority to ensure justice and accountability for all deaths and violences committed during the recent mass uprising through nationally-led, independent investigation and judicial processes, he added.

In the process, the government shall remain engaged with relevant international partners, including the UN, to avail itself of appropriate support for facilitating such processes in a sound and seamless manner, he further said.

Touhid said the government has taken quick and decisive measures to restore law and order and bring back normalcy. "It is pledge-bound to ensure safety and security of all religious and ethnic groups and will not tolerate any violence or intimidation against them," he added.

"We are working on creating an environment conducive to resumption of the full-fledged operations by the police force. The patriotic armed forces will continue to serve the nation with its hallmark responsibility as the situation warrants," he said.

"We remain mindful of the pressing demand for security sector reform," he added.

No reason for ties with India to get affected

Touhid Hossain said bilateral relations is a big thing and emphasised that the relations with India will remain unhurt even if former prime minister Sheikh Hasina's stay there prolongs.

"This is a hypothetical question. If someone stays in a country why would the relations with that particular country be affected? There is no reason for that," he said, adding that bilateral relations are a big matter.

The adviser made the remarks when a journalist wanted to know whether bilateral relations with India will be affected if Sheikh Hasina's stay in India gets prolonged.

Touhid said bilateral relations are relations of interest and friendship is also for interest. "Friendship does not exist if the interest is hurt," he added.

He said the two sides – Bangladesh and India – have interests and they will follow those interests.

He also said that they were not abandoning any commitment with any country as those commitments were made by Bangladesh.

Govt will ensure safety of foreign investments, uphold human rights: Adviser Touhid (2024)

FAQs

Why should a government support Foreign Investment? ›

FDI can foster and maintain economic growth, in both the recipient country and the country making the investment.

What are 3 examples of how a government would encourage FDI? ›

How Governments Encourage FDI
  • Financial incentives. Host countries offer businesses a combination of tax incentives and loans to invest. ...
  • Infrastructure. ...
  • Administrative processes and regulatory environment. ...
  • Invest in education. ...
  • Political, economic, and legal stability.

Are governments allowed to restrict investments made by foreigners? ›

The Committee on Foreign Investment in the United States (CFIUS) is a government body with the power to block foreign investments in U.S. companies.

What are the risks of Foreign Investment? ›

Risks of International Investing

Political and Economic Risk: Overseas investments are subject to the political and economic stability of the host country. Changes in government policies, economic sanctions, and political unrest can impact investment returns.

What are the benefits of foreign investment in the US? ›

Foreign direct investment impacts the U.S. economy in many positive ways. For example, FDI: Creates New Jobs: U.S. affiliates of foreign companies (majority-owned) employ approximately 5.3 million U.S. workers, or 4.6% of private industry employment.

What are the disadvantages of foreign investment? ›

FDI can also lead to a loss of control over strategic industries and resources and a potential for cultural and social impacts. Furthermore, there is a risk of economic instability, dependency on foreign investments, and the potential for conflicts and disputes between the investing company and the host country.

What is an example of a foreign investment? ›

Foreign Investment Examples

An American company, for example, could sell its goods in the U.S. but get them made, say, in Vietnam. By opening manufacturing facilities in Vietnam, the company is investing in the country. Its investments lead to jobs and paychecks that get spent in the local economy as well as taxes.

How does foreign investment affect the economy? ›

FDI can also promote competition in the domestic input market. Recipients of FDI often gain employee training in the course of operating the new businesses, which contributes to human capital development in the host country. Profits generated by FDI contribute to corporate tax revenues in the host country.

What are some examples of foreign direct investment? ›

Foreign Direct Investment Examples
  • Establishing manufacturing plants: Establishing manufacturing plants in foreign countries is a common form of FDI, such as Toyota's assembly plants in the United States. ...
  • Mergers and acquisitions: Mergers and acquisitions represent another foreign direct investment example.
Jul 11, 2024

Does the US allow Foreign Investment? ›

The foreign investor is permitted and treated based on conditions not less favorable than those that apply to domestic investors in similar circ*mstances, excluding ownership of land, which is regulated by a special law. In all cases and at all times investments have equal and impartial treatment, and full security.

What is considered a Foreign Investment? ›

Foreign investment is when a domestic investor decides to purchase ownership of an asset in a foreign country. It involves cash flows moving from one country to another to execute the transaction. If the ownership stake is large enough, the foreign investor may be able to influence the entity's business strategy.

Are foreign investments good for a country why or why not? ›

Foreign direct investment may promote economic development by helping to improve productivity growth and exports in the multinationals' host countries, the authors conclude, after reviewing the empirical evidence.

What are the problems with foreign investment? ›

Investing internationally provides diversification and potential for growth, especially in emerging markets, but it comes with a set of risks. Among them, the main ones are the higher costs, the changes and fluctuations in currency exchange rates, and the different levels of liquidity in markets outside the U.S.

What are some problems with international investment? ›

It is difficult for investors to understand all the political, economic, and social factors that influence markets, especially those abroad. Different levels of liquidity. Markets outside the U.S. may have lower trading volumes and fewer listed companies than U.S. markets. They may only be open a few hours a day.

Why are foreign stocks risky? ›

These risks include political and economic uncertainties of foreign countries as well as the risk of currency fluctuations. These risks are magnified in countries with emerging markets and frontier markets, since these countries may have relatively unstable governments and less established markets and economies.

Why is foreign direct investment good for the economy? ›

Foreign Direct Investment (FDI) lies at the heart of globalisation and serves as an important conduit for the transfer of capital, goods, services, and information across economies.

What is the most important reason for a country to encourage foreign investment? ›

The main reasons for foreign direct investments are the destination country's low labour and production cost. FDI is crucial for economic growth.

Why is foreign investment good for developing countries? ›

FDI can also promote competition in the domestic input market. Recipients of FDI often gain employee training in the course of operating the new businesses, which contributes to human capital development in the host country. Profits generated by FDI contribute to corporate tax revenues in the host country.

Why does a government want to control foreign trade? ›

Sometimes they restrict trade to protect specific industries and their workers from foreign competition—agriculture, for example, or steel making. At other times, they restrict imports to give new or struggling industries a chance to get established.

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