Industry Desk: The Foreign Investors Chamber of Commerce and Industry (FICCI) yesterday said that the three growth drivers — agribusiness, digital economy and green finance — can open up investment opportunities to move forward Bangladesh’s economy.
This was highlighted in a research by FICCI unveiled yesterday at an event held at a hotel in the capital.
FICCI organized the event titled “Accelerating Bangladesh” where ministers, advisors, government officials, policy makers, diplomats, business leaders, its members and other stakeholders joined together to explore the roadmap of the economic progress of the country.
Planning Minister MA Mannan spoke at the function as the chief guest while Prime Minister’s Private Industry and Investment Adviser Salman F Rahman joined as special guest.
Shwapna Bhowmick, EC Member of FICCI and Country Manager of Marks and Spencer was the Program Chair for the event. Rupali Haque Chowdhury, FICCI President and Managing Director of Berger Paints Bangladesh; FICCI Vice President and Managing Director of Singer Bangladesh – MHM Fairoz, EC member of FICCI and CEO of Standard Chartered Bank – Naser Ezaz Bijoy, Executive Director of FICCI – TIM Nurul Kabir were present, among others.
The Planning Minister said this roadmap presentation and the three growth drivers would be a good reference in the development planning and would bring in FDI to help the economy flourish in all sectors.
“We need to keep this in mind that these driving sectors will be the key agents of success. Besides, this initiative will also focus on a host of small yet strategically important sectors. Supporting their competitiveness through sharing global best practices and exploring policy opportunities in Bangladesh will be the key to unlocking the potential across the economy.”
Prime Minister’s Adviser Salman said, “I am happy that FICCI has done a terrific job along with the help of Policy Exchange of Bangladesh and has come up with this research book with appropriate measures.”
He said each of these sectors has a high potential for meeting the country’s economic goals, such as creating employment for a large number of young and skilled people, increasing export earnings, making significant impact on small and medium enterprises, unlocking potential for long-term sustained growth, and exploring new investment opportunities.
FICCI President Rupali Chowdhury said that FICCI is here to extend full support to the government in promoting FDI. “We’ve been providing national budget proposals to the government regularly not only to improve its revenue collection, but also to make a business-friendly atmosphere for doing business in Bangladesh,”
She said they are in touch with foreign investors to interact with each other and help build confidence among the existing investors on the seriousness of the government to effectively implement policies and commitments.
The inaugural session was on “Changing the landscape” followed by “Branding Bangladesh” where Md Sirazul Islam, BIDA Chairman, Yasir Azman, CEO of Grameenphone Ltd., Shehzad Munim, CEO of British American Tobacco were among the discussants and highlighted the key aspects to generate more FDI and ways to achieve the goal of a developed country.
The FICCI’s research report was unveiled on “Growth Drivers of Bangladesh:
Accelerating Investment Opportunities in Agribusiness, Digital Economy, and Green Finance” which is prepared by Policy Exchange of Bangladesh.
The research report on three growth drivers was revealed by FICCI President Rupali Haque Chowdhury, N Rajashekaran, Country Officer – Citibank NA, and Dr M Masrur Reaz, Founder & Chairman of Policy Exchange of Bangladesh.
According to the research report, Bangladesh’s resiliency and prosperity can be attributed to a number of causes, including increased private sector involvement, remittances, economic liberalization, and trade integration.
This report focuses on agribusiness, digital economy, and green financing for climate-smart investments to understand what is best to unleash their global and domestic competitiveness, taking into account global trends, Bangladesh’s diversification needs and national priorities. Moreover, fundamental strength of the country’s private sector. FICCI has plans to continue the momentum of the three growth drivers to bring in more FDI and to have more engagement with the government.
Both the event and the research report commensurate on the 50th year of Independence of Bangladesh and the birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
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