FBCCI (Federation of Bangladesh Chambers of Commerce and Industry) President Mahbubul Alam has called on the government, private companies, and industry owners to channel investments into industrialization efforts. He made this appeal while addressing a meeting of the FBCCI Standing Committee on Capital Market and Bonds held at its office on Sunday.
"There is no alternative to investing in industrialization to strengthen the countrys capital market. It is also relatively easy for industrial owners. But sadly, only a few big companies have entered the capital market so far," Alam said.
The apex trade body chief urged top companies from both domestic and international markets to participate in the capital market. He emphasized the importance of having a safe exit facility for investors to boost confidence in the market.
Alam noted that foreign direct investment (FDI) tends to increase when the capital market improves and called for all stakeholders to work together for the development of the capital market and bond market. He also suggested organizing a discussion meeting at the FBCCI on this issue.
Committee Chairman and former FBCCI director Asif Ibrahim highlighted the crucial role of the capital market in achieving the goals of Vision 2041, including LDC graduation and Smart Bangladesh. He pointed out that the capital market is currently lagging behind the overall market in the country and stressed the need for collective efforts to establish a strong capital and bond market by reducing reliance on banks.
Former FBCCI senior vice-president and standing committee director-in-charge Muntakim Ashraf noted that the number of large investors in the capital market is significantly lower than that of small investors. "This situation needs to be improved. However, it is important to ensure a safe exit system for investors," he said.
Ashraf also mentioned that the media can play a crucial role in the development of the capital and bond markets.
During the open discussion, speakers emphasized the need to expand the size of the capital and bond markets in the country. They advocated for encouraging investors, increasing public awareness, and simplifying rules and regulations for stock exchanges. —UNB
