Agribusiness, digitalization, green finance to help bolster Bangladesh economic growth, reveals FICCI reseach
3 Growth Drivers – agribusiness, digital economy, and green finance open investment opportunities to accelerate Bangladesh economy forward
Says FICCI research, unveils the report at Accelerating Bangladesh event on 21st November 2021
FICCI is organizing an event titled ” সমৃদ্ধির অগ্রযাত্রা — Accelerating Bangladesh” where ministers, advisors, government officials, policy makers, diplomats, business leaders, its members and other stakeholders will join together to explore the roadmap of the economic progress of our country.
The government has been working tirelessly over several years to build Bangladesh as a developed and resourceful country, and it is attempting to move forward with various plans through which opportunities such as increasing employment, Foreign Direct Investment (FDI), and other business opportunities are heading along the way.
Planning Minister, M.A Mannan, MP will be present as the Chief Guest; and Salman F Rahman, Private Industry and Investment Adviser to Prime Minister will join as a Special Guest at the program. Shwapna Bhowmick, EC Member of FICCI and Country Manager of Marks and Spencer will be the Program Chair for the event. Moreover, Rupali Haque Chowdhury, FICCI President and Managing Director of Berger Paints Bangladesh; FICCI Vice President and Managing Director of Singer Bangladesh – M.H.M Fairoz, EC member of FICCI and CEO of Standard Chartered Bank – Naser Ezaz Bijoy, Executive Director of FICCI – T.I.M Nurul Kabir and many other thought leaders will also be present at the event.
The inaugural session will be on “Changing the landscape”. Subsequently comes “Branding Bangladesh” where FICCI is expecting to have Md. Sirazul Islam, BIDA Chairman; Yasir Azman, CEO of Grameenphone Ltd.; Shehzad Munim, CEO of British American Tobacco; and many more as the discussants to discuss the key aspects to generate more FDI and ways to achieve the developed Bangladesh’s goal.
3 Growth Drivers
A research outcome of FICCI
On the event there will be the launch of FICCl’s research report on “Growth Drivers of Bangladesh: Accelerating Investment Opportunities in Agribusiness, Digital Economy, and Green Finance” which is prepared by Policy Exchange of Bangladesh.
The research report on 3 growth drivers will be revealed by FICCI President Rupali Haque Chowdhury, N. Rajashekaran, Country Officer – Citibank N.A, and Dr. M. Masrur Reaz, Founder & Chairman of Policy Exchange of Bangladesh.
According to the research report, Bangladesh’s resiliency and prosperity can be attributed to a number of causes, including increased private sector involvement, remittances, economic liberalization, and trade integration. Building on its achievements, Bangladesh intends to become an Upper-Middle-Income country by 2031 and a Developed Country by 2041, but it must initially overcome fundamental high-level economic restrictions.
This report focuses on agribusiness, digital economy, and green financing for climate-smart investments to understand what is best to unleash their global and domestic competitiveness, taking into account global trends, Bangladesh’s diversification needs and national priorities. Moreover, fundamental strength of the country’s private sector.
The country’s 8th Five Year Plan aims to accelerate economic development and align it with its ambitions through stronger trade and investment. In accordance with the plan the target increases by 2025 in FDI by 6 times, export by 66% and private investment to GDP by 15%. Now, Bangladesh has to perform better in certain areas and the vital role would be to expand FDI, stepping up revenue mobilization and economic diversification will be the key to attain these targets.
Thus, the goal is to provide insight into these markets which can be strengthened and improved for export markets in light of the best practices of the successful countries, relevant gaps, policy and market activities that will eventually assist in closing these gaps and unlocking the potential.
FICCI has plans to continue the momentum of the 3 growth drivers to bring in more FDI and to have more engagement with the government.
Both the event and the research report are to commensurate the 50th year of Independence of Bangladesh and the Birth Century of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.
An apex body of foreign investors, jointly working together in the economic growth of Bangladesh with an active participation in more than 21 sectors of development since 1963.
FICCI, as a key economic partner of Bangladesh, has embraced several spirited actions that express our core priorities, and we aim to continue to engage in bringing forth purposeful change through working more closely with the government. FICCI boasts of some of the most influential organizations as its members, who actively participate and contribute to various economic decision-making of the nation. A member of the World Chamber in Paris, FICCI is thriving to continue its partnership in building this nation and is excited to observe Bangladesh’s continued success and growth. Over the last five decades, FICCI has been a development partner to the nation by bringing not only FDI but technological know-how, skilled employment, and global leadership. Moreover, FICCI members have been significant contributors to achieving the SDGs.
FICCI – A major force in Bangladesh economy, the members contribute to 30% of the government’s internal revenue, which is 90% of FDI in Bangladesh. Created jobs for 156000 through direct employment and spend BDT 1042 million as CSR during the pandemic.