DHAKA, Dec 19: The inflow of foreign direct investment into Bangladesh in the first six months of the current calendar year has increased by 328 per cent, compared to the corresponding period of the previous year, statistics released by the Bangladesh Bank – the central bank of the country- revealed.

Bangladesh attracted foreign investment of $453.7 million till June 30, this year, compared to $138.3 million in the first six months of 2004, bringing the total amount of foreign direct investment to $460.4 million during the year.

The data compiled in the latest survey conducted by the Bangladesh Bank showed that the inflow of foreign investment included equity capital of $247.3 million, reinvestment earnings of $140.8 million and intra-company loans of $65.6 million.

The Board of Investment intends to increase the inflow of foreign direct investment to about $800 million in 2005.The target of investment inflows into the country for the next year is estimated at $1 billion and the board is more optimistic about achieving the target, considering the interest shown by major companies such as Tata, Dhabi Group and some other big groups from around the world to invest in Bangladesh.

The country received foreign direct investment amounting to $79 million in 2001, $52 million in 2002, $268 million in 2003 and $460 million in 2004, showing a higher growth in foreign investment in recent years.

Meanwhile, Bangladesh has been given the title of ‘Next Eleven’ by Goldman Sachs in the comity of the ‘next generation’ of nations with promising economic growth potential. Bangladesh has found itself in line with Pakistan, Iran, Indonesia, Turkey, Egypt, Nigeria, Vietnam, Philippines and, more importantly, South Korea and Mexico, after the US-based investment banking and securities firm described Brazil, Russia, India and China as the economic power houses of this century.

“The Economic potential, being realized in Pakistan and Bangladesh, will have important consequences since it will prompt both countries to invest in peace and stability, rather than confrontation,” Goldman Sachs observed.

When asked for his comments on the latest foreign investment inflow position, the board’s executive chairman and advisor on Energy, Mahmudur Rahman, said the interest shown by foreign companies to invest in Bangladesh had proved that it had become an attractive destination for investment. “This is the result of consistent macro-economic stability, facilitation measures taken by the board and aggressive promotion policies pursued by the government,” he said, expressing the hope that inflow of foreign direct investment in the coming years would be much higher than in recent years.