Experts on Saturday underscored the need for Public-Private-Partnership (PPP), encouraging private investment in disaster-resilient infrastructure, promoting technology usage, and creating awareness, and collaboration among stakeholders.
They made the observations at the national symposium titled, “Private Sector’s Participation in Disaster Risk Management: Towards Smart Bangladesh” jointly organised by DCCI and the Strengthening Urban Public-Private Programming for Earthquake Resilience (SUPER) project consortium at a hotel in Dhaka. SUPER project is a consortium initiative implemented by DCCI, ActionAid Bangladesh, United Purpose and World Vision supported by European Union Civil Protection and Humanitarian Aid.
The keynote speakers urged the government to form a task force with Bangladesh Bank, Insurance Development and Regulatory Authority of Bangladesh, Bangladesh Securities and Exchange Commission, Finance Ministry, Department Of Disaster Management, and business associations to mitigate disaster impacts.
They said Bangladesh is now vulnerable due to both natural and man-made disasters. There are a lot of industrial factories in the country which at risk due to violating building codes and poor structure.
Innovision Consulting Pvt Ltd’s Lead Consultant K Morshed Millat said there are huge challenges including limited integration of innovative financing instruments, limited financial resources, non-structured policy & inadequate insurance coverage, capacity constraints, information gap, lack of awareness, and inefficiency in fund utilisation.
He suggested constructing more green buildings in the country to mitigate disaster impact. Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin said, “We are in a competitive world in terms of businesses. Any disaster may harm our competitiveness in the international market.”
