Finance and Planning Minister Amir Khosru Mahmud Chowdhury today said Bangladesh is steadily emerging as the next major investment destination due to the government\u2019s reform initiatives, leadership commitment, rapid decision-making and ambitious development agenda.<\/p>\n\n\n\n
Speaking at a press briefing after the day\u2019s National Economic Council (NEC) meeting, the minister said the government\u2019s Taka 3,00,000 crore Annual Development Programme (ADP) has been designed to pull the economy out of fragility through large-scale investments and employment generation.<\/p>\n\n\n\n
\u201cIf aspirations are not high, development cannot move forward,\u201d he said while responding to questions on whether the fresh ADP is overly ambitious.<\/p>\n\n\n\n
\u201cTo move forward from the setbacks and stagnation of previous years, investment is essential. Without investment there will be no growth, no employment and no development,\u201d he added.<\/p>\n\n\n\n
The minister said the government remains confident about implementing the large development budget because of stronger political commitment and administrative efficiency under an elected government.<\/p>\n\n\n\n
\u201cThis is a matter of commitment. We have already shown within three months that we can take decisions quickly and implement them,\u201d he said.<\/p>\n\n\n\n
Explaining why the government opted for a large ADP despite inheriting a fragile economy, the minister used the analogy of a tube-well.<\/p>\n\n\n\n
\u201cWhen the water level in a tube-well goes down, water has to be poured into it before water starts flowing again. <\/p>\n\n\n\n
Likewise, without injecting investment, there is no way to recover from a fragile economy,\u201d he said.<\/p>\n\n\n\n
The minister said the government\u2019s economic strategy is already generating positive responses from international investors and financial institutions.<\/p>\n\n\n\n
\u201cGlobal investors, fund managers and international institutions are now closely following Bangladesh,\u201d he said.<\/p>\n\n\n\n
Referring to recent discussions with foreign investors, he said officials from JP Morgan informed the government that they were interested in Bangladesh because of the direction of the country\u2019s readership.
\u201cThey told us they operate in 66 countries but are coming to Bangladesh because they are observing where Bangladesh\u2019s leadership is heading,\u201d he said.<\/p>\n\n\n\n
The minister said investors are being attracted by the leadership\u2019s commitment, dynamism and fast-paced decision-making process.<\/p>\n\n\n\n
\u201cInvestors are coming because they see commitment, dynamism and quick decision-making. Bangladesh is becoming acceptable to the world as the next investment destination,\u201d he said.<\/p>\n\n\n\n
Replying to a question on revenue mobilisation, the minister acknowledged that Bangladesh\u2019s tax-GDP ratio remains among the lowest in the world.<\/p>\n\n\n\n
\u201cThat situation cannot continue if we want to become a stronger economy,\u201d he said.<\/p>\n\n\n\n
He said the government is implementing reform programmes in the National Board of Revenue (NBR) and expanding the tax network to bring more people under the tax system.<\/p>\n\n\n\n
\u201cFor many years, the same taxpayers have carried the burden while the network did not expand. We are now widening the network,\u201d he said.<\/p>\n\n\n\n
The minister said bringing more people into the tax net would eventually benefit citizens through better public services and social protection.<\/p>\n\n\n\n
\u201cThis is an elected government. Earlier, benefits went into a few pockets. Now the benefits will go to the people of Bangladesh,\u201d he said.<\/p>\n\n\n\n
He also defended increased allocations for social protection and targeted assistance programmes, saying different support schemes serve different groups.<\/p>\n\n\n\n
\u201cA farmer receiving a farmer card is not the same person receiving a family card. These are targeted programmes designed for different beneficiaries,\u201d he said.<\/p>\n\n\n\n
The minister reiterated that the government\u2019s development strategy would focus on employment generation, human resource development, healthcare, technical education and climate resilience to ensure sustainable long-term growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance and Planning Minister Amir Khosru Mahmud Chowdhury today said Bangladesh is steadily emerging as the next major investment destination due to the government\u2019s reform initiatives, leadership commitment, rapid decision-making and ambitious development agenda. Speaking at a press briefing after the day\u2019s National Economic Council (NEC) meeting, the minister said the government\u2019s Taka 3,00,000 crore […]<\/p>\n","protected":false},"author":6,"featured_media":34324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,93],"tags":[48],"class_list":["post-34323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bangladesh","category-nationwide","tag-48"],"yoast_head":"\n