Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin on Wednesday urged the government not to impose another lockdown for the sake of business and economy.
The country’s apex trade body chief made the call at a programme titled “Meet the Reporters” and organised by Dhaka Reporters Unity (DRU) at its auditorium in the capital.
“The rise in coronavirus cases in the country is creating another worry for businesses. A lockdown is very harmful to businesses, and it is not a solution to curb the virus. Creating public awareness is important here,” he said.
He urged people to abide by the health rules imposed by the government to prevent the third wave of the pandemic.
Replying to questions from reporters, the FBCCI chief said lockdowns increase the misery of low-income people and also affect trade and the economy the most.
“At present, exporters are getting a lot of orders. A fresh lockdown will disrupt the industrial momentum, which will hurt the economy in the long run,” he added.
Jashim commented that the most effective way to curb the pandemic was to adhere to proper health protocols and government regulations.
He said the main obstacle to foreign investment so far was the lack of adequate infrastructure. “But the present government has undertaken various development projects, including Padma bridge, Karnaphuli tunnel, and metro rail, that have resulted in an investment-friendly infrastructure in the country.”
The business leader urged banks to lend more to small and medium enterprises, saying banks should allocate a certain amount of loans for small entrepreneurs.
“Bangladesh will face several challenges in protecting local industries after the least developed country (LDC) graduation. To meet those, it is important to have free trade agreements (FTAs) with different countries.”
He said six regions, including the Asia Pacific, the European Union, the US, and the African Continental Free Trade Area, account for 90 per cent of the world trade. “Therefore, FTAs can be signed with these regions.”
Jashim emphasised increasing the capacity of various ministries, including commerce and industries, to negotiate for the post-LDC challenges.
He said the FBCCI was going to set up an innovation centre to enhance the capacity of the private sector, which would accelerate research and development in various sectors.
“To enhance the FBCCI’s research capacity, 18 experts from various fields have been appointed as panel advisors. The federation will play a more effective role in formulating various policies based on their analyses and opinions,” he also said.
He said the responsibility to implement various policies of the government lies with the private sector, but those are not discussed with the sector people concerned before formulation.
“Therefore, private sector entrepreneurs have to face various problems during implementation. There should be discussions with stakeholders before formulating policies and impact assessments should be conducted as well.”
DRU President Nazrul Islam, General Secretary Nurul Islam Habib, and Organising Secretary Abdullah Al Kafi were present at the programme among others.
