Dhaka Chamber of Commerce and Industry (DCCI) today underscored the need for Public-Private Partnership (PPP) to manage sustainable economic recovery.
To further accelerate the country’s economic recovery in 2023, DCCI urged the government to focus on uninterrupted and affordable energy supply to local and export-oriented manufacturing industries, improve the ease of doing business, develop an infrastructural environment conducive to attracting local and foreign investment, export diversification, facilitate easier access to credit facilities for CMSMEs and so on, said a statement.
DCCI observed that the global economic downturn due to the COVID pandemic and the Russia-Ukraine war has hindered Bangladesh’s progressive growth.
However, the enterprising spirit of the business community and joint efforts of the public and private sectors have largely assisted our economic recovery process.
The recent increase in energy prices is disrupting the production of energy-intensive industries and they are increasingly falling behind to compete in international trade.
DCCI is of the view that long-term planning should be adopted following a predictable pricing policy in determining the energy price.
In order to ensure energy security, it is necessary to urgently explore new gas fields, strengthen long-term energy supply contracts and find alternative sources of energy import.
Moreover, it is necessary to ensure an uninterrupted supply of energy to the industries and the government is requested to emphasize it as a matter of priority.
After the LDC graduation, in order to continue the existing export growth, Bangladesh has to take the initiative of signing free trade agreements (FTAs) with potential trade partners and various regional economic blocs.
In this transitional period of LDC graduation, the country needs to ensure proper readiness and preparation of local businesses.
DCCI also feels that, inter alia, export diversification, infrastructure development, skills development, technological advancement, expediting backward linkage industries, reforms of tax and tariff structure and continued negotiation for ensuring “International Support Measures” even after LDC graduation are important agendas that the government should focus on.