Business leaders at a discussion meeting on Saturday underscored the importance of mid-term reforms in various policies, investments and operating procedures of various government bodies for creating a better business environment and investment climate.
They also said that with economic challenges, few non-economic challenges are also very crucial that need to be addressed soon.
The seminar on “Bi-annual economic state and future outlook of Bangladesh economy (January-June FY2023-24): private sector perspective” was organized by Dhaka Chamber of Commerce & Industry (DCCI) at its office, Matijheel in the capital.
DCCI President Ashraf Ahmed presented the keynote paper in the seminar.
Regarding the Central Bank’s current strategy of higher interest rates and tighter liquidity management, Ashraf Ahmed in his presentation, suggested that the strategy should be reversed as soon as inflation comes under control.
He expected that the balance of payment issues to be resolved soon, with the expectation that export level can be maintained.
The trend of devaluation of taka will come down once US dollar rate falls which could help cut the energy prices as well, he added. Energy supply is crucial to maintain the momentum of growing export trend, he said.
DCCI President Ashraf Ahmed underscored the importance of mid-term reforms in various policies, investments and operating procedures of various government bodies for creating a better business environment and investment climate.
“We are also witnessing few issues with NPL within a small segment of the banking system—reportedly only ten banks are badly affected, indicating that the remaining banks are in acceptable health”, he added.
Dr. Khan Ahmed Sayeed Murshid, Economist and Former Director General of Bangladesh Institute of Development Studies (BIDS) said that everything happens so fast in this world and we have no alternative but to response quickly.
With economic challenges, few non-economic challenges are also very crucial that need to be addressed soon.
He underscored the importance of broad-based inclusive growth ensuring fundamental food security, power and energy security, security of education and skill development.
Dr. Mohammad Abu Eusuf, Professor, Department of Development Studies, University of Dhaka and Executive Director, Research and Policy Integration for Development (RAPID) said containing the macroeconomic stability is now more crucial for the sake of overall economic development.
Moreover, we have to have actual realistic data of number of population, GDP size and other statistical components to research the actual scenario of the economy.
Dr. Md. Salim Al Mamun, Director (Research), Chief Economist's Unit, Bangladesh Bank said that holistic approach has been taken for the reforms in the financial sector.
The growth in the service sector did not see much hike recently but it should be qualitative. Bangladesh Bank has also been trying to modernize concerned policies.
DCCI’s Senior Vice President Malik Talha Ismail Bari and the directors of the board were also present on the occasion.
