The recent conference hosted by the Dhaka Chamber of Commerce and Industry (DCCI) has highlighted the urgent concerns of business leaders regarding law and order and energy security — two pillars that underpin economic growth and industrial stability.
As Bangladesh continues its journey towards development, it is imperative that the government take these concerns seriously and implement necessary reforms without delay.
As per a report in our newspaper on Sunday, Dr Salehuddin Ahmed, the Finance Adviser to the Government, made remarks regarding the “unprecedented corruption” in the banking sector that is particularly alarming.
Such corruption undermines financial stability and erodes trust in institutions crucial for economic progress.
While the adviser expressed hope for improvement through ongoing reforms, the time for hope must be accompanied by decisive action.
The private sector cannot afford to wait indefinitely for systemic changes which are vital for economic survival and growth.
We admit that the President of DCCI rightly pointed out the need for an uninterrupted supply of gas and electricity.
In an era where energy is the lifeblood of industry, businesses cannot thrive amid uncertainty.
The call for improved law enforcement is equally pressing; a secure environment is essential for fostering investment and innovation.
The government’s role in creating a conducive atmosphere for business cannot be overstated.
Moreover, the plea from the business leaders for a zero-tolerance policy towards law enforcement issues highlights the need for a more responsive and accountable police system.
As Bangladesh prepares for its potential graduation from Least Developed Country (LDC) status, it is crucial to ensure that the necessary frameworks are in place to support this transition.
Delaying graduation, as suggested by Hatem, might provide the breathing room needed for vital reforms.
The emphasis on collaboration between the government and the private sector, as articulated by Commerce Adviser Sheikh Bashir Uddin, is a step in the right direction.
However, this collaboration must translate into actionable policies that directly address the concerns raised by industry leaders.
We must say, that the challenges our business environment is facing are significant, but they are not insurmountable.
A concerted effort from the government to enhance law and order, ensure energy security, and reform financial institutions is essential.
The time for dialogue has almost passed; it is now time for action.
