The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is urging increased investment in industrialization, calling it crucial for strengthening the country's capital market.
FBCCI president Mahbubul Alam made this appeal during a meeting of the organization's standing committee on capital market and bonds.
Alam emphasized the importance of industrial investments, stating they are "relatively easy for industrial owners" and offer a clear path to a more robust capital market. However, he expressed concern that currently only a few large companies have taken advantage of the capital market.
Seeking broader participation, Alam called on leading domestic and international companies to actively engage in the capital market. He also stressed the need for a "safe exit facility" to build investor confidence. A well-developed capital market, Alam noted, would attract more foreign direct investment (FDI) to Bangladesh.
Asif Ibrahim, the committee chairman and a former FBCCI director, echoed similar sentiments. He highlighted the critical role of the capital market in achieving national goals like Vision 2041, which outlines Bangladesh's path to becoming a developed nation.
Ibrahim emphasized that the capital market currently lags behind other sectors and emphasized the need for collaboration to reduce reliance on banks and build a strong capital and bond market.
Muntakim Ashraf, a former senior FBCCI vice-president and current committee director, pointed out the limited participation of large investors.
"This situation needs to be improved," he said, reiterating the importance of a reliable exit system for investors. Ashraf also mentioned the media's potential role in fostering a thriving capital and bond market.
The open discussion during the meeting saw several speakers emphasizing the need to expand the capital and bond markets. Suggestions included attracting more investors, raising public awareness, and simplifying stock exchange regulations.
