The country’s business community has called for restoring investment friendly atmosphere as soon as possible, as the current political standoff wreaked havoc on the economy.
They came up with the call while a delegation of Dhaka Chamber of Commerce Industry (DCCI), led by its newly elected President Hossain Khaled, paid a courtesy call on Planning Minister AHM Mustafa Kamal at the NEC conference room in the city yesterday.
“If existing situation is not improved, both the local and foreign investments will be hindered,” said Khaled.
For attaining more than 8% economic growth, investment needs to be raised up to 32% from existing around 24% of the GDP, he said.
“And for this, political instability is a must.”
In addition, he opined that traditional problems like lack of adequate infrastructures, bureaucratic tangles and higher rate of interest should also be addressed to attract investments.
In response to the business demands, the planning minister said, “The government will give all-out support, including bailout package to the private sector for keeping the wheel of the economy running.”
Lauding private sector contribution to the country’s economy, he observed that both the private and public sector have together generated 1.4 crore employment over the last five years in the country.
“Now, the government sets a target to create 1.32 crore employment in the next five years in the country with the help of private sector and donor agencies,” he added.
DCCI president claimed that the DCCI usually contributed 5.7% of the country’s total GDP.
“Despite 35.5% job creation, SME sector has to pay higher bank interest,” he reminded the minister.
The business leaders also underlined the need for making Public-Private Partnership (PPP) scheme effective for faster economic growth in the country.