Bangladesh's economy is going ahead with deep resilience and commitment to deal with major challenges at home and abroad, speakers told a seminar in Dhaka.
They said this while speaking in a seminar on 'Bi-annual economic state and future outlook of Bangladesh economy: Private sector perspective', organised by Dhaka Chamber of Commerce and Industry (DCCI).
Tapan Kanti Ghosh, Senior Secretary, Ministry of Commerce, was present as the chief guest while Mohsina Yasmin, Secretary (Additional Charge) of BIDA, joined as the special guest.
DCCI President Md. Sameer Sattar gave a key note presentation on the topic highlighting the challenges and scope for Bangladesh's economy.
He discussed various pressing and contemporary issues, challenges and impacts on economy covering geo-economic impact, LDC graduation, performance of fiscal and monetary policy, inflation, private investment, international trade and so forth from a private sector perspective.
Tapan Kanti Ghosh said that the country is going to be graduated from its LDC status in 2026 and there is no reason of fear for that.
'We need to go for massive value addition to get duty benefit, and for this value addition, the backward linkage sector has to be upgraded,' he added.
He also said that in the post-LDC era product diversification will play the role of a catalyst to cater better export market share for Bangladesh.
'Since 80 percent of our economy is driven by the private sector it is the key role of the private sector to be ready for these upcoming challenges,' he added.
He emphasised on quality education, skill development and business friendly environment through shared public-private partnership to steer the post-graduation journey of Bangladesh.
Mohsina Yasmin said BIDA requested the investors to utilise the integrated and inclusive OSS platform as a stepping stone towards the investment friendly ecosystem development of Bangladesh.
She encouraged local and foreign investors to use this OSS platform for timely and cost-efficient services to enhance the investment in Bangladesh.
Syed Mahbubur Rahman, Managing Director and CEO, Mutual Trust Bank emphasised on remittance growth to secure better foreign currency reserve. He also stressed the need for good governance and efficient resource management to ensure stability in the financial sector in Bangladesh.
Dr. Selim Raihan, Executive Director of SANEM, insisted on readiness and preparedness of private sector and local industries to deal with any external shocks and challenges in the future.
Moreover, he suggested providing special attention on exploring potential local and new export-oriented industries to cater the growing economic needs instead of relying on the RMG industry and remittance.
Mohamed Ali Hossain, Director of PHP Family, said, 'if we can ensure more resilient, consistent and friendly business ambience in Bangladesh this will help the investment and enable the government to realise more tax revenue in the future.'
Source: United News of Bangladesh