|Published : 20 Apr 2017, 12:02:13 | Updated : 20 Apr 2017, 12:09:52|
Foreign Direct Investment from Singapore triples to $673 million in Bangladesh
FE Online Report
Singapore emerged as the top source of the foreign direct investment (FDI) for Bangladesh in the last calendar year.
Latest statistics, revealed by the central bank, showed that net inflow of FDI from the East Asian city-state stood at $673 million in 2016. The net inflow of FDI in 2015 was $175.27 million.
Thus, FDI from Singapore almost tripled in a single year.
The phenomenal growth of FDI is, however, due to huge injection of capital by Singapore Telecom (Singtel) to enhance the capital base of Bharati Airtel in Bangladesh.
Singtel made an investment of $359 million, the largest in a sector last year. It is now Airtel’s major equity holder.
The second largest investment from the city-state came to the power sector. The value of the FDI is $190 million.
Bangladesh Bank statistics also showed that gross inflow of FDI from Singapore was $708.18 million, of which some $35 million was disinvested last year.