Sunday, 5 February, 2023

Bangladesh economy shows resilience during pandemic

  • Diplomatic Correspondent
  • 28 November, 2022 12:00 AM
  • Print news

As Bangladesh focuses on the development of infrastructure, its policies and guidelines need to be in place to get the most effective output from infrastructural investments, said Winnie Estrup Petersen, Ambassador of Denmark to Bangladesh. “Inputs from all quarters are essential for providing the best to the country,” she said at a virtual launching of white paper titled “FDI in Logistics Sector”.

This was a follow up to the daylong event on the same topic, hosted by the Nordic Chamber of Commerce and Industry (NCCI) in Bangladesh in May of 2022.

She was speaking on behalf of the Embassies of Denmark, Norway and Sweden.

While talking about the economy of Bangladesh the ambassador highlighted that the Bangladesh economy has proven to be strong and resilient, boasting a growth even during pandemic when most economies of the world contracted.  “This uninterrupted trajectory of economic growth will see Bangladesh graduating from the LDC group in 2026.” Salman F Rahman, Private Industry and Investment Advisor to the Prime Minister, addressed the event as the chief guest. He said that the government has recognised “Logistics” as a thrust sector and “in this difficult time of massive global distribution, we remain committed to be an integral part of the global supply chain.”   

He added that the government has “been in a process of formulating a National Logistics Policy, which will aid investment and cater to the needs of the economy in the long run.” 

Salman F Rahman remarked that the white paper “will benefit all the stakeholders in contributing to the policy formulation and its proper implementation as well.” Speaking as the special guest, Mohsina Yasmin, Executive Member, Bangladesh Investment Development Authority (BIDA) said, “White papers are a major asset when it comes to improving business strategy, understanding the current state, and identifying potential growth areas.”

 “It can also act as an influential document to advocate for policy changes and assist policy makers to support business and investment friendly environments.”

NCCI President Tahrin Aman highlighted that the logistics sector is a crucial component of the whole trading ecosystem, and major industries heavily rely on it.

He explained, “As we plan to grow our economy, it is imperative that we also focus on infrastructural development to support this economic expansion.”

Asif Khan, Managing Partner of Edge Research and Consulting, shared highlights from the whitepaper and key policy recommendations suggested in it. Edge Research and Consulting was the research partner of the NCCI for this publication.

The event was also attended by business leaders, foreign dignitaries, government stakeholders, regulatory bodies, policymakers, and advocacy coalitions.

The Vote of Thanks was delivered by Angshuman Mitra Mustafi, Country Manager of Maersk Bangladesh Ltd and Treasurer of NCCI, on behalf of the organisers. Mashur Rahman, Executive Director of NCCI, moderated the event.

The whitepaper will be available for download from the website of the Nordic Chamber.