Oct 06, 2017

BOI to pay Rs.143 m for unsuccessful FDI programme Featured

The director board of the Board of Investment has received a paper seeking approval to pay Rs. 143 million (399,766 US dollars) to a Harvard professor who has conducted a problem-driven iterative adaptation (PDIA) work.

The Harvard Centre for International Development Studies, USA, headed by Associate Professor Matt Andrews was engaged by the BOI and the Export Development Board from 2016 to 2017, as per directions from the prime minister and minister of development strategies and international trade and the state minister of international trade, with a view to enhancing foreign direct investment, exports and capacity building of these institutions.

The programme engaged more than 50 officials from the BOI in multiple roles geared towards facilitating and attracting investments, according to the paper.

Reports say the programme was not conducted together with Harvard University, and Prof. Andrews had got involved on a personal capacity only.

The EDB withdrew halfway into the programme.

Although its aim was to attract one billion USD of FDI, so far only 600 m USD worth FDI has been secured.