Bangladesh is at a critical stage of its economic journey: ICCB President

 
Bangladesh must accelerate structural reforms, strengthen macroeconomic stability, and deepen public-private cooperation to remain competitive after graduating from Least Developed Country (LDC) status.

Mahbubur Rahman, President of International Chamber of Commerce Bangladesh (ICCB) said this on Thursday while addressing the 31st Annual Council of ICC Bangladesh in Dhaka.

He said the country is at a critical stage of its economic journey and requires bold policy decisions to sustain long-term growth, says a press release. 

Rahman said Bangladesh has strong growth potential because of its strategic location, large domestic market, expanding infrastructure, and growing entrepreneurial base. He identified the blue economy, renewable energy, green infrastructure, the digital economy, and tourism as sectors with significant investment opportunities.

The ICCB president said controlling inflation, strengthening the banking and financial sectors, ensuring energy security, increasing domestic revenue collection, improving debt management, and restoring private-sector confidence should remain the country's top priorities.

He also called for the early completion of Economic Partnership Agreements (EPAs) and Free Trade Agreements (FTAs) to safeguard Bangladesh's export competitiveness after LDC graduation.

Rahman proposed constructing a modern elevated expressway between Dhaka and Chattogram, saying the project would reduce transport costs, improve logistics, boost exports, and attract more local and foreign investment. He also urged the Asian Development Bank (ADB) to support the project through financing and technical assistance.