Bangladesh aims for trillion-dollar economy
BM Desk:
The Dhaka Chamber of Commerce & Industry (DCCI) urged the Bangladeshi government to prioritize sustainable policy reforms and a long-term roadmap to achieve the ambitious target of a trillion-dollar smart economy. The call came during a seminar titled “Bi-annual economic state and future outlook of Bangladesh economy: private sector perspective,” held on Sunday.
The event highlighted the critical role of the private sector in driving Bangladesh’s economic aspirations. Speakers, including DCCI President Ashraf Ahmed, emphasized the need for a collaborative approach, with the government creating an enabling environment and the private sector taking the lead in innovation and investment.
Reducing the cost of doing business was the key point in the program. Streamlining regulations, improving infrastructure, and ensuring access to finance are crucial to enhance private sector competitiveness, as highlighted by Dr. Ashikur Rahman.
Moving beyond the garment industry and exploring new markets and products, as emphasized by Dr. Mashiur Rahman, will build resilience and long-term sustainability.
Reducing non-performing loans and simplifying the tax system, as suggested by Mr. Shams Mahmud, will improve the financial health of businesses and boost government revenue.
Ensuring uninterrupted and affordable energy supply alongside efficient logistics networks will be essential for attracting investment and facilitating trade. Targeted policies and incentives are needed to nurture high-potential sectors like pharmaceuticals and light engineering, as identified by Dr. Mashiur Rahman.
While acknowledging the challenges, government representatives outlined various initiatives aimed at supporting the private sector. These include measures to control inflation, stabilize the exchange rate, and develop economic zones, as explained by Dr. Md. Habibur Rahman.
The DCCI seminar served as a platform for constructive dialogue between policymakers and industry leaders. Building a trillion-dollar economy in Bangladesh will require sustained efforts from both the government and the private sector. Addressing the concerns raised by businesses and implementing effective reforms will be critical for achieving this ambitious goal.
This collaborative approach, with a focus on policy reforms, private sector investment, and strategic support for key sectors, holds the potential to propel Bangladesh towards its trillion-dollar economic aspirations.
