Business leaders have urged the government to delay Bangladesh’s graduation from Least Developed Country, LDC status by 3-6 years to safeguard global market competitiveness. At a BGMEA-organized meeting in Dhaka on December 7th, they highlighted the need for more time to address industrial and economic challenges.
Discussions focused on pressing issues such as factory safety, gas shortages, banking difficulties, and a proposed Bangladesh Bank policy on defaulted loans set to take effect in April 2024. The policy, they warned, could disrupt investment and employment.
The leaders expressed concerns over industrial safety, citing a recent attack on the deputy managing director of Mahmud Denim, which could deter entrepreneurs and harm economic growth. They emphasized the importance of ensuring factory security and maintaining a stable industrial climate to safeguard employment and development.
The business community also agreed to conduct a sector-wise study to assess the impact of the proposed policies on various industries.
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