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ICC Conference to Identify Reasons of FDI Fall in Asia
The main focus of the two-day Asia Conference of the International Chamber of Commerce (ICC) will be identifying reasons of the fall of Foreign Direct Investment (FDI) in Asia's developing nations, the Financial Express reported on November 7.
The FDI in the manufacturing sector is considered to be the most profitable one in many parts of Asia, but the flow remains at a low ebb for many countries in the region.
Business leaders at the conference to be held in Dhaka on November 10, will identify reasons why the FDI is not taking place at the expected level in the countries despite their offering opportunities and incentives to foreign investors.
Deputy Prime Minister of Thailand DR Supachai Panitchapakdi, who will take over as the next chief of the World Trade Organization, and the Asian Development Bank President Tadao Chino will be among the high-profile speakers expected in the conference.
Prime Minister Sheikh Hasina is likely to inaugurate it, organized by the Bangladesh chapter of the Paris-based chamber.
A total of 210 participants from 22 countries including China, have so far confirmed their participation in the business conference.
Experts of the 22 countries will hold elaborate discussions on natural resources, opportunities for FDI and arbitration for settling commercial disputes.
Trade liberalization and concerns of developing economies, Asian recovery, discovering regional potentials in information technology and multi-modal transportation network in Asia will also come up for discussion.
Briefing about the purpose of the conference recently, President of ICC-Bangladesh Mahbubur Rahman said that the meet is to facilitate Asian nations to interact with one another to identify their strengths and weaknesses and work out a plan to work hand-in-hand for shared prosperity.
Weak infrastructures, lack of enabling environment, political instability, bureaucratic bottle-necks and absence of properlegal framework reportedly are the major factors which investors see as impediments to FDI in developing countries.
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