DHAKA: Foreign direct investment (FDI), in the first 10 months of 2013-14 fiscal year ending this month, was down nearly 12 percent from the same period a year ago.

According to the Bangladesh Bank (BB) data, reported by The Shanghai Daily on Sunday, in the first 10 months of the fiscal year 2013-14 (July 2013-June 2014), net FDI inflow was recorded at 1,250 million USD against 1,416 million USD during July-April period of 2012-13 fiscal year (July 2012-June 2013).

The central bank, however, did not provide any further details on the FDI inflows, it included.

Political instability, lack of capacity in the public sector, bureaucratic tangles and natural disasters are often blamed as some of the major obstacles to investment in the country.

According to the report, the bank officials say inadequate basic infrastructure has also been impeding large FDI inflow in Bangladesh which has ample opportunities to woo more foreign investors as cheap workforces are available in the country.

The shortage of gas and electricity also deterred the large FDI inflows, a Board of Investment (BoI) official had earlier said, the report mentioned.

Net FDI inflows in the country in last 2012-13 fiscal year stood at 1.47 billion USD, as against 1.19 billion USD in the previous 2011-12 fiscal year, the BB data showed.

BDST: 1901 HRS, JUN 23, 2014