Planning Minister MA Mannan said the Kovid-19 epidemic has created special opportunities for Bangladesh to expand exports and trade in medical textiles like PPE and masks. He called upon the private sector entrepreneurs to take advantage of this opportunity.
He was speaking as the chief guest at a seminar on ‘Current Status and Future of Bangladesh’s Economy from the Perspective of the Private Sector’ organized by the Dhaka Chamber of Commerce and Industry (DCCI) on Saturday.
Build chairman Abul Kashem Khan, among others, the chairman of the private research organization Policy Exchange. Mashroor Riaz, Chittagong Stock Exchange Chairman Asif Ibrahim, former DCCI President Rashed Maqsood Khan, Hossain Khaled, MH Rahman, Aftab-ul Islam, Benazir Ahmed, Saiful Islam and Md. Sabur Khan spoke.
Shams Mahmood, the current president of DCCI, presented the keynote address at the seminar.
Planning Minister MA Mannan said this year’s budget is much more business-friendly than at other times. Other benefits, including corporate tax and individual tax rebates, have been increased in the budget. You will have more opportunities in the days ahead. He emphasized the need for the government and the private sector to work together to tackle the crisis.
He said the private sector is playing an important role in the development of infrastructure in many countries of the world. We have to go that way too. He called upon the private sector entrepreneurs to invest heavily in the development of communication, power and other infrastructures in the country.
Emphasizing on increasing the use of technology, the Planning Minister said that more digitization in the banking sector is the need of the hour. He said the government could not reach everyone with cash assistance in the coronavirus situation as marginalized people did not have bank accounts.
“The health sector was a bit messy at first because we had no idea about Covid-19, but over time we have overcome that,” he said. Now we are ready.
He said that in order to increase trade and commerce in ASEAN countries, Bangladesh needs to gain the status of an observer in ASEAN. He emphasized the need to expand trade with neighboring countries.
“We all need to be vigilant so that the image of a dishonest person is not tarnished at home and abroad,” Mannan said.
In the main article, DCCI President Shams Mahmood Kovid outlined the overall picture of the country’s economy and recommended the current state of the 20 sectors of the economy and its development.
He proposed to reduce the source tax for export oriented industries to zero point 25 percent. He said it was important to take a definite roadmap and strategy now to create a conducive environment for investment transfer from China to Bangladesh.
He said the MSME sector has suffered the most due to Kovid and they have not been able to get loans from banks under the incentive package.