Staff Reporter :
Describing the country’s loan disbursement procedure as not sustainable one, the DCCI President Ashraf Ahmed has expressed the apprehension that investment in private sector and development of the same would not be possible without an increase in lending capability and liquidity in the banking sector.
“Though all the fundamentals of the country’s economic growth are still in a better position, an uninterrupted gas supply has to be ensured for keeping the growth on,” he said while speaking at a press conference organized by Dhaka Chamber of Commerce & Industry (DCCI) at its headquarter in the capital on Saturday.
Although the import-dependent energy is not comfortable for us, we have no alternative to it, Ashraf added.
He further said, “Bangladesh’s position among South Asian countries in foreign direct investment is fragile. To become a developed country in 2041, it must have to be increased right now.”
Regarding the current economic challenges, he said, “Our economy is passing through few challenges like inflation, NPL, forex reserve, financial market volatility, balance of payment, depreciation of Taka etc, but Bangladesh has the experience of facing such challenges earlier as well as overcoming all of these.”
Regarding energy crisis, he said that closure of manufacturing industries due to lack of power and energy are very expensive and has a negative impact on economic capacity, no doubt.
“As a business organization, we want this crisis to be solved as soon as possible,” he added.
There is a scope of improvement of data transparency of BBS and all others, he added.
Earlier, he made a power point presentation on the contemporary economic overview and shared the view of the Chamber with the media.
He, however, said the private sector is required to play pivotal role in this year to bring the economy back to the trend of growth stability. For creating future Smart Bangladesh, technology transfer and capacity building of CMSMEs through digital engagement is needed, the DCCI president said.
For the development of import substitute industries, he suggested expanding access to finance for CMSMEs and industrial startups through dedicated credit lines, loan guarantees and venture capital initiatives.
He also suggested promoting Alternative Trade Board (ATB) for trading infrastructure and participation in the capital market.
He said, “We need to keep pushing for inclusive growth, diversify the export base and focus on policies that help growth.”
He also said that a long-term and time-bound sector-specific national investment roadmap for major industries like Agriculture, Pharmaceuticals, Electronics, Light-engineering, IT & ITES and RMG industry is needed to boost private investment.
DCCI Senior Vice-President Malik Talha Ismail Bari, Vice President Md Junaed Ibna Ali and members of the board of directors were present during the event.
