Planning Minister AHM Mustafa Kamal (Lotus Kamal) yesterday said the next five years would belong to Bangladesh and its people, projecting that the country would eliminate poverty by 2030 achieving a per capita income of US$2,100.
“Next five years will belong to Bangladesh, belong to you. We will be successful,” he said at a views exchange on development works and future plans of the present government in Dhaka yesterday.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised the meeting at its conference room.
In response to businessmen’s allegation high interest rate, he advised them to borrow from foreign sources at lower rates like 5-6%.
The minister said the private sector would work to take the country towards economic growth while the government would ensure a business-friendly environment.
In response to businessmen’s demand for establishing good governance and transparency in the government system, he argued the government cannot achieve it alone. “Everyone should change themselves and help establish good governance.”
He said the government had put LNG (liquefied natural gas) terminal on the fast-track for implementation.
FBCCI President Kazi Akram Uddin Ahmed presided over the function attended, among others, by Planning Commission Member Hedayat Ullah Al Mamun and Planning Division Secretary Bhuiyan Shafiqul Islam.
Kazi Akram urged the government to formulate business-friendly plans as “the contribution of business is 60-70% to the economy of Bangladesh.”
He said the success of business is the success of the government. “Make plans to build a developed country in next 50 years.”
He described the present political business environment as “peaceful and calm” and hoped the situation would continue to prevail.
Monowara Hakim Ali, first vice president of FBCCI, called for setting up Chittagong-Cox’s Bazar rail lines to promote tourism. “Tourism will flourish if rail lines to sea-beach town are introduced.”
A good number of business leaders were present at the function. They demanded development of infrastructure including the Dhaka-Chittagong four-lane highway to help business grow exponentially.
If the Dhaka-Chittagong economic corridor as planned by the Asian Development Bank was implemented, they said the country’s economy would have grown at a rate more than 8%.
According to the business leaders, to achieve double digit GDP growth, small and medium enterprises (SMEs) sector need to be made stronger.
Some expressed frustration over the high interest rate of bank loans, which they said was hindering the expansion of business.
“How can we do business with 22% interest rate on bank borrowing?” questioned a businessman.
