DHAKA Until recently, outward investment was something corporate Bangladesh could only dream about. But a loosening of government controls has prompted a raft of proposals for overseas expansion as companies seek to diversify their earnings.
In October, Bangladesh's cabinet gave permission to Akij Group, a conglomerate, to buy Robin Resources, a Malaysian fiberboard and composites maker, for $80 million. Akij, which has interests in those sectors as well as in food and beverage, tobacco, cement, jute and textiles, was allowed to transfer $20 million to Malaysia to partially finance the acquisition, with the balance to be paid through offshore borrowings.
