German entrepreneurs keen to invest in Bangladesh's social business told finance minister AMA Muhith on Tuesday they find its rules and regulations not supportive.
They are in Bangladesh as members of a joint delegation of EU and Germany.
They said they were interested to invest 30 million Euro in Bangladesh's textile sector to start a social business.
Johannes Merck, vice-president of Otto Group,
a German corpora-
tion, said that the existing rules and regulations would not support their investment.
The joint delegation
led by German federal minister for economic cooperation and development Dirk Niebel and European Union's development cooperation commissioner Andris Piebalgs was hold a meeting with Muhith.
Muhith told the delegation, 'we will see what we can do in this regard.'
After the meeting, he told reporters that the country needs new rules and regulations to encourage private investment in social business.
He also said that some investment came through Grameen Bank's Muhammad Yunus when so many rules and regulations were not there.
Earlier, the delegation told the state minister for environment Hasan Mahmud at a meeting at his secretariat office that EU would support Bangladesh in mitigating the adverse effects of climate change.
Source : New Age
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