India to push Tata-plan

The Indian government is using its decision to allow foreign direct investment (FDI) from Bangladesh, to push for a speedy-clearance of the Tata Group’s plans to invest in Bangladesh.

A notification has now been issued to allow FDI from Bangladesh through the Foreign Investment Promotion Board (FIPB), commerce-minister Jairam Ramesh, has said.

“The Tata investment would be the single largest FDI in Bangladesh, more than all the FDI the country has received till now,” Mr Ramesh told the Economic Times.

Via Bangladesh Blogger

Super Bangladeshi

There's been a lot of talk about reversing the "brain-drain" out of Bangladesh at the ongoing conference of non-resident Bangladeshis. There have also been doubters, who suggest, this idea of retaining local talent is almost-impossible to implement.

However, Iqbal Quadir, the founder of Grameenphone suggests otherwise.

Quadir, the founder of Legatum Center for Development and Entrepreneurship at the Massachusetts Institute of Technology (MIT), believes that this has been possible because he invested in what he calls "sweat equity".

He recognises the barriers - not only administrative and regulatory constraints, but also a negative-influence from those who believe 'change is impossible'.

"I had to struggle to make Grameenphone happen," Quadir told The Daily Star.

He recalled how he gave up a well-paid Wall Street job to follow his "radical" idea of setting up a mobile-phone network that would cut down the huge communication-gap.

"Bangladesh has 30 million mobile phones now, it has made a lot of progress so it's easy to forget how hard it was to tell people that cell phones would be so prevalent," he said.

He is investing in Bangladesh through the Anwarul Quadir Foundation & Harvard-University. The project, called "Innovations in Bangladesh", assists people pursuing innovative projects by giving scholarships worth $25,000 every year to the best idea that empowers Bangladeshis.

Via Bangladesh Blogger