Financing, supply of energy, environment and skilled manpower are the key challenges to attaining Sustainable Development Goals (SDGs) for Bangladesh, business people and trade analysts said yesterday.
They also underscored the need for concerted efforts and conclusive framework for an effective implementation of sustainable goals.
The emphasis came at a seminar on “Transition from MDGs to SDGs: opportunities and challenges for industry and business” organised by the Dhaka Chamber of Commerce and Industry (DCCI) yesterday in the capital.
“Of the 17 goals of SDGs, seven are directly linked with business. That is why importance should be given to investment for future and next generation to achieve the SDGs,” DCCI President Hossain Khaled.
Khaled called for infrastructure development, power and energy security, skill development, technology adaptation, policy framework, long-term strategy for attaining SDG.
In the developed countries, SME sector contributes 90% of GDP while Bangladesh’s SME contribution is 60% to 70%, khaled said, urging the government to stimulate the Small and Medium Enterprise entrepreneurship and promote that with adequate financing.
The DCCI president also suggested establishing a “National Implementation Forum” which will be a single platform, consisting of public and private sector representatives along with all stakeholders for monitoring implementation process of SDG initiatives.
The private sector played a leading role as the driver of economic activities, said Policy Research Institute of Bangladesh (PRI) Executive Director Ahsan H Mansur in his keynote presentation, showing that from the year 2000 to 2014 Industrial sector growth was 7.8%.
For achieving SDGs, he stressed the need for adequate infrastructure and inclusive and sustainable industrialisation through innovation.
Mansur said it is high time an urgent action should be taken to combat climate change and its impacts.
“We should not produce such product that will destroy our environment. We want growth but quality of production and working conditions should be clean and safe.”
Unplanned urbanisation will also be a challenge which needs to be addressed, he advised, saying SDG forecasts 7% GDP for LDC countries which is an opportunity for Bangladesh as the country is very close to attaining the target.
He noted that energy outlook for Bangladesh and plan for reliance on coal in future will be a major challenge for us.
“Financing is the key challenge for Bangladesh in achieving the SDGs as investment of $5tn to $7tn is needed globally to materialise the goals,” Business Initiative Leading Development (BUILD) Chairman and former DCCI president Asif Ibrahim said.
He called for the best use of foreign aids, remittance and foreign exchange reserves by investing in the industries.
State Minister for the Ministry of Finance and Planning MA Mannan attended the programme as the chief guest.
In his address, he said: “We have to be self-reliant for achieving the target and the government is all the way committed to facilitate the private sector.”
To achieve Sustainable Development Goals, a link between rural and urban communities is necessary and entrepreneurs are resilient enough to move the country forward, added Mannan.
“In MDGs, Bangladesh has done well, and if we work collectively, SDGs will also be achieved.”
Director General of Bangladesh Institute Development Studies (BIDS) Khan Ahmed Sayeed Murshid said to achieve SDGs quality education, the rule of law and agriculture development are some key priorities to look into.
He also called for policy framework to use natural resources.
“Without private sector investment, attainment of SDGs is not possible,” said Palash Kanti Das, assistant country director, UNDP-Bangladesh.
He stressed framing an action plan, prioritising the goals to achieve the SDGs.
Palash urged the private sector people to work with the public sector.
