[Shadeshi_Bondhu] Allow BIMSTEC companies, including those of Indian north-east to list in Chittag

Allow BIMSTEC companies, including those of Indian north-east to list in Chittagong Stock Exchange

This should be a natural next step on the part of Bangladeshi authorities

 

 

After a long time, Indian governement has done the right thing. It has lifted the ban for Bangladeshis to invest in Indian companies. Its a good step in the right direction. See a related news copied below.

 

Government of Bangladesh should follow-up with this step, buy allowing north-east based companies to list in Chittagong Stock Exchange. At the same time, government could consider allowing companies from Myanmar also to be listed in Chittagong Stock Exchanges. Also, Bangladeshi inverstors should take advantage of the vast natuaral resources of both Indian North-East and Myanmar and setup joint-venture companies there. Economy should be a bonding mechanism that eventually brings people of the region closer - both in terms of social and economic terms.

 

This would also be a good chance for our financial markets to prepare itself for more integration with the international markets. We should forsee a world when regional economies will be much more closer that we, today, can even think of. That transition in the near or far future should be well-planned and smooth. Keeping that long term vision  in mind, such a step would be a very good step for the regional economies. In fact, government should plan to develop the Chittagong stock exchange as a BIMSTEC stock exchange i.e. CSE should allow any companies from any BIMSTEC countries to be listed here.

 

If you thought some of the ideas are worth of your reading time, please forward it to others. If you have an ear to the columinsts in regular traditional media, please forward it to them. If you have an ear to the journalists and news editors of the electronic media, discuss it with them. Hope they would look at the suggestions and give due diligence.

 

Thanks for your time,
Innovation Line

 

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Note: This is a freelance column, published mainly in different internet based forums. This column is open for contribution by the members of new generation, sometimes referred to as Gen 71. If you identify yourself as someone from that age-group and want to contribute to this column, please feel free to contact. Thanks to the group moderator for publishing the article.
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Bangla FDI bar off

NISHIT DHOLABHAI Source: http://www.telegraphindia.com/1080104/jsp/frontpage/story_8741924.jsp

New Delhi, Jan. 3: India has lifted the ban on foreign direct investment (FDI) from Bangladesh. A 1999 law had barred FDI from Pakistan, Bangladesh and Sri Lanka. But Sri Lanka was exempt in 2000, and with Bangladesh joining the club, Pakistan is the lone country on the hot list. The Indian gesture, pending for some time but notified without fanfare in November, comes at a time a $3-billion-dollar investment proposal by the Tatas is pending with the Bangladesh government. Delhi's sweetener may also help speed up resumption of hilsa imports from Bangladesh. The removal of the FDI restriction is expected to have a salutary impact on bilateral relations that have been steadily improving since an army-backed government took over in Bangladesh. But the Northeast is expected to get more tangible benefits. "The Northeast is where Bangladesh wants to invest in textiles, newsprint, pharma and food processing. Investment is a two-way street. So, this will create the right environment," Jairam Ramesh, the minister of state for commerce, told The Telegraph. Sources said Ramesh had written to minister of external affairs Pranab Mukherjee in February last on the need to "allow FDI from Bangladesh and Pakistan on a case-to-case basis". A part of that objective has been met now. According to the amended regulations of the Foreign Exchange Management Act, a Bangladeshi citizen or an entity incorporated in Bangladesh can now purchase shares and convertible debentures of an Indian company under the foreign direct investment scheme. However, unlike the direct approval for companies from countries like the US, Bangladeshi investors will have to get the approval of the Foreign Investment Promotion Board. Until seven years ago, Sri Lankan companies were also barred from investing directly in India. However, a proposal of a Lankan company, Brandex Apparels, to set up a garment park was approved in 2000. The garment park is coming up in a special economic zone in Andhra Pradesh's Visakhapatnam

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