The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) needs prudent leadership as the dollar crisis and high inflation may intensify the existing business challenges in the next year, business leaders have said.
The observation was made during a panel introduction programme organised by Bebsayi Oikya Parishad at a hotel in Dhaka on Friday night.
Ha-Meem Group Managing Director and former FBCCI president AK Azad presided over the function while the apex trade body’s Director Abu Naser moderated it.
FBCCI President Md Jashim Uddin said, “The world economy is in a negative state because of the Russia-Ukraine war. We are not excluded from this situation. We have to face many challenges in upcoming days as Bangladesh is to achieve LDC graduation by 2026, SDGs by 2030, and development country’s status by 2041.”
He said businessmen have to face challenges and resolve their problems through their initiatives.
“Today, FBCCI’s former, current and next presidents are on the stage. Such unity is needed at all stages to overcome the country’s problems,” he further said.
Jashim pointed out that the private sector contributes over 82 per cent to the country’s economy.
“Talented leadership is important in the apex trade body. So, Chittagong Chamber of Commerce and Industry (CCCI) President Mahbubul Alam has been selected as the panel leader of the chamber group. All members should vote for him,” he added.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan said their industry is contributing around 88 per cent of the total country’s export.
“However, we have many challenges in the upcoming days. Our orders from global buyers have been withdrawn. Besides, we are under inflationary pressure. So the next year will be very challenging for us,” he said, adding that they hope for a trillion-dollar economy.
“We will achieve LDC graduation by 2026. Afterwards, we would lose various facilities. However, we need a prudent leader for the apex trade body to build a smart Bangladesh,” he said.
Bangladesh Textile Mills Association (BTMA) President Mohammad Ali Khokon said the textile industry is the driving force of the country's economy but the sector has been facing various problems due to a fuel crisis.
“We do not have enough gas supply even with the price hikes. So we have to face severe difficulty. We want uninterrupted gas supply,” he also said.
President of the National Association of Small and Cottage Industries of Bangladesh (NASCIB) Mirza Nurul Ghani Shovon said FBCCI should be upgraded to an international standard.
“Policy support is required to develop small cottage industries. So, smart leadership can facilitate the business environment in the country,” he also said.
Panel leader of Babasai Oikya Parishad Mahbubul Alam said Bangladesh would reach an economy of trillion dollars soon and more businesses will contribute.
“However, if we win, we will strengthen FBCCI’s secretariat office and connect district chambers online along with creating business and research in the divisional cities. Moreover, if we win, we will make the monitor policy business-friendly,” he also said.
The election of FBCCI for 2023-25 will be held on July 31.
