The situation of industry, business and trade in the country is not good condition. There is stagnation in investment.
There is no good response to any domestic or foreign initiative. Entrepreneurs are in a state of distrust due to political instability and policy uncertainty.
Along with that, there are several reasons including the power and fuel crisis, high interest rates on loans, and deteriorating law and order situation.
Economists and businessmen say that investors want consistent policies and long-term guidance.
They further say that the stagnation in investment is directly affecting the country’s economy. Employment is being disrupted.
Credit flow to the private sector is declining due to the macroeconomic crisis, rising borrowing costs, high inflation, and energy shortages.
It is known that 353 factories have been closed in Savar, Gazipur, Chittagong, Narayanganj and Narsingdi in the last one year.
This has left 119,842 workers unemployed.Most of them have moved to the villages, unable to find other work.
Many are forced to engage in various types of criminal activities. This is destroying the social status.
Again, many factories, although not closed, are surviving in a shaky state. They are making losses.As a result, they are unable to pay salaries and allowances on time.
The aggrieved workers are holding various programs including road blockades. Without political stability, it is not possible to restore the momentum of investment.
New investors are also reluctant to take risks due to uncertainty. Existing businessmen are also not investing in new projects. They are waiting for an elected government to provide long-term policies and stability.
The energy problem can be solved, but investors back off when they see political violence or roadblocks. The investment situation will improve if an elected government comes and there is political stability.
According to the latest data from Bangladesh Bank, credit growth in the private sector stood at 6.52 percent in July, compared to 6.49 percent in the previous month, June. This is the lowest growth rate in the last 22 years of data available on the central bank’s website.
Today’s world is very competitive. And investing is not a matter of one or two days. An investor wants to be assured of his investment in the long term.
If we cannot create an investment-friendly environment and prove the stability of the environment, then there will be no domestic or foreign investment. We need to focus more on restoring stability to the country through holding a free and fair national election.
