Bida chief stresses structural reforms to improve investment climate
The benchmark for improvement is low, but this government's clear intent and determination provide an opportunity to enact meaningful changes, said the Bida executive chairman
Chowdhury Ashik Mahmud Bin Harun, executive chairman of the Bangladesh Investment Development Authority (Bida), has emphasised structural reforms to improve the country's investment climate.
He also urged the stakeholders to focus on quantified outcomes during a workshop jointly organised by Bida and the United Nations Development Programme (UNDP) today (18 November) at the capital's Radisson Blue Water Garden Hotel.
"The benchmark for improvement is low, but this government's clear intent and determination provide an opportunity to enact meaningful changes," said the Bida executive chairman, who was also the chief guest at the workshop.
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The workshop titled "Investment Diversification for Priority Sectors Post-LDC Graduation" shared insights from a groundbreaking study conducted by the South Asian Network on Economic Modelling (Sanem) and was funded by the UK Foreign, Commonwealth, and Development Office (FCDO).
The workshop provided a platform for policymakers, researchers, and industry leaders to discuss strategies to position Bangladesh as a competitive global investment destination post-LDC graduation.
Participants highlighted the importance of collaboration and swift policy actions to enhance the nation's economic resilience and investment climate.
Attending the workshop as a special guest, Owais Parray, the senior economic adviser at UNDP Bangladesh, underscored the critical role of political stability, infrastructure, and human capital in fostering economic growth.
The keynote address by Dr Selim Raihan, professor of Economics at the University of Dhaka and executive director of Sanem, focused on opportunities in agro-processing, jute products, and IT-enabled services.
Raihan presented key findings, highlighting constraints like skill gaps, outdated technology, and regulatory challenges, and recommended targeted policy actions to unlock sectoral growth.
Shah Mohammad Mahboob, executive member (additional secretary) of the Marketing and Communication of Bida, moderated the workshop.
Md Muzib-Ul-Ferdous, director general (joint secretary) of Local Investment Promotion, delivered the opening remarks while Dr Khandoker Azizul Islam, Bida's secretary (additional secretary), presided over the session.
