Significance of Bangladeshi private sector lies in ability to drive economic growth, says AmCham President
The significance of the Bangladeshi private sector lies in its ability to drive economic growth, create employment opportunities, attract investment, and foster innovation, said Syed Ershad Ahmed, president of the American Chamber of Commerce in Bangladesh.
"This competitive advantage leads to increased foreign direct investment (FDI) by offering profitable business opportunities, and, in creating a favorable investment climate, putting the economy on a path to cross a $1 trillion mark by 2040, according to the World Bank & BCG Analysis," he said, according to a press release.
The AmCham president made the remarks during its monthly Luncheon meeting on Monday – held at a hotel in the capital.
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Bangladesh is making its way to becoming a developing nation with an impressively steady annual GDP growth rate, unique geopolitical location, and solid and skilled workforce that's attracting global attention, labeling us as an FDI-friendly country, said.
"Ready Made Garments (RMG) sector and Foreign Remittance earnings shielded us despite all these unforeseen challenges in the pre-COVID era," the AmCham president said.
Among others, Martin Holtmann the country manager of International Finance Corporation (IFC) in Bangladesh, Nepal and Bhutan was present at the luncheon meeting.
During his speech, the AmCham president acknowledged IFC's contribution to private sector's growth in Bangladesh.
The audience comprised members of the American Chamber of Commerce, former presidents of AmCham, business leaders, representatives from the US Embassy and other diplomatic missions, distinguished guests, and members of the media.
