United States of America (USA) became the top source of Foreign Direct Investment (FDI) in Bangladesh in the last fiscal year (FY16) outbidding United Kingdom (UK).
Bangladesh Bank updated statistics on FDI revealed that net inflow of FDI from the US doubled in the last fiscal year to $449.74 million from $224.60 million in FY15.
UK was the top source of FDI in Bangladesh in FY15 when net inflow of FDI stood at $273.55 million.
FDI from UK also rose by 41 per cent to $307 million in the last fiscal year.
While the major portion of the foreign investment from UK came as reinvested earnings in the last fiscal year, more than 50 per cent of the USA originated FDI came as equity capital.
Central bank data showed that FDI worth $222 million from the US came as fresh investment followed by $188.17 million as intra-company loans and $39.63 million as reinvested earnings of the exiting multinational entities.
Around 90 per cent of the US investment is concentrated on energy sector (comprising gas, petroleum, and power).
On the other hand, around 60 per cent of the UK investment came to the financial sector, banking to be precise.
