'Reform in banking, stock market, tax sector immediate concern'
Published : Wednesday, 28 August, 2024 at 12:00 AM Count : 143
Although overhauling is needed in many sectors to bring back economic mobility, reforming the banking and tax revenue sectors has become the 'immediate concern' for the interim government, said Finance Advisor Dr Saleh Uddin Ahmed.
"We need reforms. Reforming the banking sector, revenue sector and stock market is our immediate concern," he said.
"Because, if we don't overhaul those now, it will be too difficult for us in the future," he said.
The advisor also said that the United Kingdom expressed their deep interest in helping Bangladesh in reforming those three sectors.
British High Commissioner to Bangladesh Sarah Cooke met the finance advisor at the Economic Relations Department (ERD) office on Tuesday.
Following the meeting, the advisor told the media they also discussed trade and business between the two countries.
When asked what the assistance from the UK would be, Cooke said her country would 'provide support to any sector he (the finance advisor) thought a priority and felt the necessity for help.'
The advisor said he highlighted Bangladesh's business climate, environment, ease of doing business and diversification during the meeting.
Investment in the private sector was very important, he said. "Big businessmen from Britain have invested here."
To encourage more private investment, Bangladesh needs to develop the business environment, he said. "For that, we need to keep a relaxed business environment. Or else, there won't be interest from private businesses in coming here."
He requested the UK to help bring diversification in Bangladesh's exports, as the country mostly exports readymade garments to the UK and other European countries.
"The United Kingdom is mainly working for economic development and women's empowerment. We'll continue that too," the advisor said about the cooperation between Bangladesh and the UK.
"The UK is a strong partner of Bangladesh. We have a strong trade and investment environment," Cooke said in response to a question about increasing the direct investment from the UK.
"Of course, we want to see more Foreign Direct Investment (FDI) in Bangladesh from the UK."
"The British investors are responsible investors. And we have discussed with the advisor on how we can win the investors' trust and develop an investment relationship in trade," she said. —bdnews24.com
