DHAKA – Underscoring the need for further raising investment by the country’s private sector, Finance Minister Abul Maal Abdul Muhith today hoped that the investment ratio to GDP would further raise from the current level of around 30 percent and thus dynamism would be infused in the upward trend of the economy.
“We’ve been able to push the investment ratio of GDP to 30 percent. We hope that this investment level would further raise and thus the upward trend of the economy will get dynamism and strengthened. We’ve started from a low base and that’s why it’s taking time. But, we’re trying to keep up the momentum of investment,” he said.
The Finance Minister said this while inaugurating the week-long “World Investor Week-2018” held at the Krishibid Institution, Bangladesh in the Capital.
The Bangladesh Securities and Exchange Commission (BSEC), in accordance with a declaration of the International Organization of Securities Commissions (IOSCO), a global cooperative of securities regulatory bodies, is observing the week to create awareness among stock investors.
Muhith noted that the country’s investment ratio to GDP is comparatively lower than other countries like India as well as the contribution of the private sector to the overall investment is higher with around 21-22 percent while the rest come from the public sector.
He said it is a matter of great fortune for the nation that the government of Sheikh Hasina had been in power without any interruption for almost 10 years for which the country had been witnessing upward trend in economy.
The veteran Minister opined that if Prime Minister Sheikh Hasina could assume office for another term, then Bangladesh would reach in such a place from where the country would be poised for becoming a prosperous country.
“So, the next five years are very important for us. If everything goes well, we’ll be able to attain most of the Sustainable Development Goals as well as reach closer to becoming a developed country by 2041 as dreamt by our
Prime Minister. But, for that I believe there is a need for various types of actions and activities,”
Muhith said that the growth in investment was behind the economical development over the last 10 years in Bangladesh adding that private sector can further boost this investment level alongside the public sector.
He said that the Awami League government has also raised the public investment level over the last 10 years because such investment creates various types of facilities like infrastructures for the private sector to facilitate their investment.
Turning to role of the BSEC, the Finance Minister said the country’s capital market watchdog has been able to create a base for further flourish of the capital market over the last 25 years since its inception. “Now it’s time for it (capital market) to be grown up,”
Muhith said he was very glad that the BSEC had given all its efforts to make a reform in the capital market over the last 10 years and thus take it in such a position from where the capital market would soon be grown up.
Putting emphasis on the role of the BSEC to raise investment from the capital market for ensuring overall development of the country, the Finance Minister hoped that the capital market regulator would be able to play its
role efficiently in the coming days.
Presided over by BSEC Chairman, M Khairul Hossain, Financial Institutions Division Secretary Md Ashadul Islam spoke on the occasion as special guest.
To mark the Week, BSEC has chalked out a seven-day program of cultural events, discussions, reunions, and seminars.
The Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) will also arrange different programs in Dhaka and Chittagong to mark the week.
The stock exchanges, merchant banks, and asset management companies are expected to provide necessary support in observing the week.
In 2017, the BSEC for the first time observed World Investor Week on a broader scale.
