The Dhaka Chamber of Commerce and Industry (DCCI) has hosted a conference titled Private Sector Outlook; Expectations and Priorities, where business leaders expressed urgent concerns regarding the law and order situation, energy security, and the need for supportive government policies to enhance the business environment in Bangladesh.
The conference featured prominent speakers, including Dr. Salehuddin Ahmed, Finance Adviser to the Government, and Sk. Bashir Uddin, Commerce Adviser to the Government, who provided insights on the current economic climate and the importance of collaboration between the private sector and the government.
In his welcome address, DCCI President Ashraf Ahmed emphasised the necessity of reducing Government expenditure and improving market management. He called for increased vigilance from law enforcement to prevent extortion, a gradual decrease in policy interest rates to combat inflation, and stabilisation of the currency market to maintain competitiveness. He also stressed the importance of uninterrupted gas and electricity supply for industries and advocated for easier access to low-cost credit for Cottage, Micro, Small, and Medium Enterprises (CMSMEs).
Dr. Salehuddin Ahmed acknowledged the significant corruption challenges that have emerged over the past 15 years, impacting the economic sector. He highlighted ongoing efforts to stabilise reserves and interest rates to address inflation and reassured attendees that the National Board of Revenue (NBR) is working towards a more business-friendly regulatory environment through automation and improved tax administration processes.
Commerce Adviser Sk. Bashir Uddin underscored the need for enhanced coordination between the private sector and the government to address the law and order situation, emphasizing the importance of trade liberalization and supportive policies to navigate challenges posed by the upcoming transition from Least Developed Country (LDC) status.
Industry leaders echoed the calls for improved law and order, highlighting the adverse effects of high import duties and the need for a roadmap for stability in business operations.
Other speakers pointed out that enhancing the law and order situation is critical for industrial development and investor confidence. They called for immediate actions to curb market disruptions and ensure the safety of entrepreneurs.
The conference concluded with a consensus on the urgent need for government intervention to improve the business climate, focusing on reducing operational costs, enhancing energy security, and fostering a corruption-free environment for sustainable economic growth.
