Bangladesh has a huge potential for attracting foreign investments and moving forward, but the country must ensure good financial management.
The country has come a long way since its independence under the leadership of Bangabandhu Sheikh Mujibur Rahman but a lack of good financial management is preventing Bangladesh from bringing in more investors.
Unique Group and Post Media Communications Ltd Managing Director freedom fighter Mohd. Noor Ali made the remarks on the occasion of The Business Post's 2nd anniversary at its office in the capital on Saturday.
He added, “Bangladesh has huge opportunities, but we have to build up our image and boost our branding to attract more foreign direct investment (FDI). There have been 52 years since Bangladesh’s independence, but we could not bring in FDI at an expected level.
“Most of the investment went to the power sector in Bangladesh. The import substitute sector along with the tourism and hospitality management sector need more investment. This sector is getting less attention, and Bangladesh needs to focus on such industries more.”
Mohd. Noor Ali then said, “India attracted $400 billion in FDI. Vietnam – a country that achieved independence after Bangladesh – has managed to move far ahead of Bangladesh in terms of foreign investment.
“If we can manage to improve financial management and build up our image, our FDI inflow will get a significant boost. If this is achieved, Bangladesh will be able to move forward holding close the spirit of our liberation war.”
He added, “The ultimate success of our liberation war will be achieved if we bring economic emancipation by practicing journalism with honesty, integrity and commitment for the country, and for the next generation.
“The Business Post will move forward with the determination to build a fair and secular Bangladesh by ensuring economic emancipation in line with the spirit of the liberation war. Despite this country having huge potential and propositions, foreigners cannot maintain confidence to make investments here amid the ongoing economic headwinds, due to the scarcity of good financial management.”
Mohd. Noor Ali continued, “Under the leadership of Sheikh Hasina, our country is moving forward, and development is progressing beyond imagination. The country must focus more on good financial management and discipline to keep wheel the development turning.”
Speaking in favour of commitment and integrity, he said, “We have 35 billionaires, while Pakistan has only 25 billionaires. We are propelling businesses with honesty to create an example for the next generation, that running business with honesty is possible in this country.”
The Business Post Acting Editor and the Chief Advisor of the Unique Group Dr Khondaker Showkat Hossain said, “The newspaper began its journey two years ago amidst uncertainty and tension. This disrupted our growth but did not halt it.
“We have immense potential ahead of us, and we have the strength to go far with integrity and honesty.”
He then said, “If we can prioritise businesses and financial issues in social and civil circles, along with reporting on obstacles and impediments faced by industries on which the country stands, we will be able to create a distinct style and reach our goal.
“No obstacles can impede us, if we move forward with integrity and commitment.”
The Business Post Planning Editor Ibrahim Hossain Ovi moderated the event. Journalists, advertisers and well-wishers from the country’s renowned groups, industries, banks, government and non-government organisations, and agencies sent greetings to mark the occasion.
