Business leaders called on the interim administration to implement a series of economic changes, including measures to suppress ‘disinformation’ that undermines international purchasers’ trust in Bangladesh’s main export markets.
They made their call during the National Business Dialogue, where Prof. Muhammad Yunus, the Chief Adviser of the interim Government, gave assurances that the business community and the Government would collaborate and that worker-owner relations would be improved.
Mir Nasir Hossain, the director of the International Chamber of Commerce, Bangladesh (ICC,B), spoke for the business community when he stated that maintaining Bangladesh’s reputation among consumers was crucial.
The ICC, B organised the first business dialogue in the interim Government’s regime at a city hotel. Leading corporate executives and representatives of the private sector attended the event, together with financial advisor Dr. Salehuddin Ahmed and planning adviser Prof. Wahiduddin Mahmud.
“Some countries which are export-competitors have been disseminating misinformation on foreign outlets about the country, which is causing a disruption in foreign buyers’ confidence in the country as well as causing existing investors’ confidence to be spoiled.”
He said that Bangladesh has historically been a dependable source for outside purchasers, but this reputation is eroding.
“India, USA, Canada, Germany and UK and some other important countries have issued travel advisories on visiting Bangladesh, which has made some investors hesitant to travel to the country,” added the official.
ICC, B believes that the interim government’s attempts to improve the country’s standing with foreign and domestic investors and regain their confidence need to be promptly supported by effective strategies.
He gave the business community’s suggestion to form a task group with public-private cooperation to address the current issue facing the country’s exporting sector.
According to Chief Adviser Dr. Yunus, effective trade and commerce depend on collaboration between the government, employees, and owners of commercial firms.
According to financial advisor Dr. Salehuddin Ahmed, there will soon be a need “to gear up the car that became slower” due to certain basic economic developments.
“Regaining the confidence of investors, having the country’s capital market revamped, generating employment, regulations preventing companies from operating and complaints about the National Board of Revenue’s (NBR) services will be resolved,” he told the meet.
The present exchequer stated, “Companies would make money, but they wouldn’t hold customers captive in an unusual way,” in response to accusations that some large corporations, oligopolies in particular, are profiting off the suffering of their customers.
He called on trade associations to take on the role of people’s representatives, attending to the issues that face companies operating outside of capitals and large cities, and directing their corporate social responsibility efforts towards the less fortunate.
