Focus on smart governance, human capital to grow further

American businesses have lauded Bangladesh for its ‘great going’ and they expressed their interest to go for increased investment in the south Asian economy.

They also urged Bangladesh to focus more on smart governance, human capital, innovative businesses and natural energy issues to ensure smooth economic growth.

Businesses from the Biden administration made the call in a virtual networking event titled “US-Bangladesh Trade and Investment Opportunities” on Tuesday.

The event was organised as part of a programme to celebrate the glorious 50th anniversary of the independence of Bangladesh and the birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

The event addressed the trade, investment and business opportunities in Bangladesh’s power and energy, readymade garments and knit composite, banking, capital market, insurance, ICT and telecom, health, education, hospitality, textile, jute and jute goods.

The US businesses also congratulated Bangladesh on its 50th anniversary and the birth centenary of Bangabandhu.

The speakers of the event underscored the need for creating awareness on climate change impact and showed interest to invest for green, renewable and sustainable energy.

Bringing best practices from the USA to Bangladesh was also committed by the US business leaders while they emphasised on zero tolerance to corruption as one of the first and foremost conditions.

Besides business related issues, the speakers found areas of potential cooperation and opportunities to deliver educational support, developing new lifestyles and healthy human.

Experts from Bangladesh described the country as a land of golden opportunities and as one of the most promising economies in the world.

All the authorities concerned, including Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority, Bangladesh Export Processing Zones Authority, Bangladesh Hi-Tech Park Authority and Public Private Partnership Authority Bangladesh, are directly working for creating an investment-friendly Bangladesh under the supervision of the Prime Minister’s Office, they mentioned.

A stable macroeconomic environment, resilient domestic demand, and export-oriented industry-led growth have placed Bangladesh among the fastest growing economies of the world.

 

Its economy is growing steadily at above 6.5 per cent on an average over a decade.

The United Nations Committee for Development Policy has recently recommended graduation of Bangladesh from the category of least developed country as it fulfilled the eligibility criteria in terms of per capita income, human assets and economic and environmental vulnerability, which are important positive indicators for trade and investment opportunities, the speakers highlighted.

Sadia Faizunnesa, consul general of Bangladesh in New York, and Aziz Ahmad, chairman of US-Bangladesh Global Chamber of Commerce; and Mark Szoller, executive director of the National Association of Asian MBA, co-hosted the event.

Mark Szoller, executive director of the National Association of Asian MBA and former managing editor of New York Times, moderated the session.

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