Terming Bangladesh 'a development miracle', Foreign Minister A K Abdul Momen on Tuesday said the country is set to emerge from the group of LDCs (least developed countries) by the end of next month (February).
Speaking as the chief guest at the inauguration ceremony of the 1st DCCI Business Conclave 2021, the minister also said the graduation will give an opportunity to change the country's branding from a poor country to a land of opportunities.
Foreign Minister Dr AK Abdul Momen (top, left), DCCI President Rizwan Rahman (top, right), BIDA Executive Chairman Sirazul Islam (left, middle row), BUILD Chairman Abul Kasem Khan (right, middle row), Director and Immediate Past President of DCCI Shams Mahmud (2nd from left, bottom), DCCI Senior Vice President N K A Mobin (extreme left, bottom) and DCCI Vice President Monowar Hossain (extreme right, bottom) at the inaugural ceremony of the '1st DCCI Business Conclave 2021' on Tuesday.
Dhaka Chamber of Commerce and Industry (DCCI) President Rizwan Rahman moderated the inaugural session of the three-daylong virtual international programme, where 227 companies from 10 countries will meet for 176 B2B (business to business) matchmakings.
Bangladesh Investment Development Authority (BIDA) Executive Chairman Md. Sirazul Islam, DCCI immediate-past president Shams Mahmud, and Business Initiative Leading Development (BUILD) Chairman Abul Kasem Khan also spoke on the occasion.
The foreign minister said under the visionary leadership of Prime Minister Sheikh Hasina, Bangladesh has become a lower middle-income country, and it is making robust strides to become a developed nation by 2041.
"You'll be pleased to know that hopefully we will be out of the group of LDCs by the end of next month."
Mr Momen said Bangladesh with its 165 million hard-working people in between two large economies - China and India - is a lucrative destination for investment.
Even during the Covid-19 pandemic the country has achieved 5.24 per cent GDP growth, which is the highest in Asia.
"This has been possible because of the pro-business and incentive-rich initiatives and relentless efforts, being made by the government, while creating social safety nets to allow the individuals on the fringe secure a stable income and other livelihood supports."
The foreign minister noted that the government is now focusing on economic diplomacy, through which the country will be able to achieve equitable market access, export expansion, foreign direct investment (FDI) inflow, and technology transfer.
"We would like to be a global manufacturing hub, paying more attention to connectivity. We believe that connectivity is productivity," he added.
Speaking as the special guest, BIDA Executive Chairman Md. Sirazul Islam said the country's economy is recovering although the Covid-19 pandemic is still prevailing.
Domestic market demand, export and remittance increased remarkably during the time.
Mr Islam noted that despite the pandemic Bangladesh earned US$ 33.67 billion through export in fiscal year 2019-20. The country is now ready for the LDC graduation review in 2021.
The DCCI Business Conclave will rejuvenate trade and investment in the country as well as create confidence among foreign investors, he hoped.
Inviting foreign investments in potential sectors like ICT, pharmaceutical, footwear, agriculture and ship-building, the BIDA boss said Matarbari deep seaport will transform the investment landscape of Bangladesh.
Some 41 services are now being provided by the BIDA-operated one stop service (OSS), and 10 more will be added to it by this month, Mr Islam further said.
"Our doors are always open for businesses. So, please come and invest in Bangladesh," he added.
DCCI President Rizwan Rahman said as the global economy is gradually endeavouring to alleviate the Covid-induced crises, Bangladesh should also plan its trade and investment recovery strategies accordingly.
He invited entrepreneurs from the participating countries in the B2B conclave to reap the dividends of accelerated economic growth of Bangladesh by investing in various promising manufacturing sectors here.
The international event will deepen economic ties of the country with the participating economies. It will also facilitate manifold trade and investment opportunities for Bangladesh as well as the partner countries, he added.
BUILD Chairman Abul Kasem Khan said Bangladesh is now the third fastest growing country in the world, and the fastest in Asia. It has become possible because of different timely initiatives, taken by the government.
Unemployment will be the biggest threat in the 'new normal' situation across the globe, he opined, calling upon all concerned to frame out a master-plan for global recovery with an aim of keeping no one left behind.
He also stressed on taking collective efforts from all stakeholders to build a better and sustainable future.
Shams Mahmud said during the Covid-19 fallout technology has come up with new reality. "We have to embrace the opportunity to cope with the 'new normal' situation," he opined.
DCCI Senior Vice President N K A Mobin also spoke at the inaugural session of the international business conclave.
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