Curbing investment

The government of Bangladesh  is planning to restrict foreign direct investments (FDI) in the tobacco sector so that the supply of the harmful products can be curtailed, reports Financial Express citing government officials.

The National Tobacco Control Policy, which was recently sent to the ministries and departments concerned seeking opinions, states that controlling the supply chain is important alongside lowering the demand to contain tobacco consumption.

In 2018, Bangladesh received $3.61 billion in FDI, of which $1.47 billion came from Japan to acquire local Akij Group’s tobacco business.

Foreign investment is substantial in several tobacco companies in Bangladesh. British American Tobacco is the top market player.

The draft policy noted that to contain the tobacco supply in the market, steps will be taken to encourage tobacco farmers to cultivate other crops.