Our economy is passing through few challenges like inflation, NPL, forex reserve, financial market volatility, balance of payment, depreciation taka etc., but Bangladesh has the
experience of facing such challenges earlier as well as overcoming all of these, said Ashraf Ahmed, President of Dhaka Chamber of Commerce & Industry (DCCI) at a press conference on January Saturday.
Ashraf Ahmed said inflation, foreign exchange reserve, NPL and liquidity etc. are some of the key challenges of our economy but these challenges are not new to us.
We have faced these types of challenges earlier and we could manage to overcome those.
"Bangladesh has the proven ability to overcome these existing economic challenges, he added. Regarding energy crisis, he told that closure of manufacturing industries due to lack of power and energy are very expensive and has a negative impact on economic capacity, no doubt", he added.
President made a power point presentation on the contemporary economic overview and shared the view of the Chamber with the media representatives.
Regarding economic challenges he said that both the private sector, the growth engine of the economy, and the public sector are trying to face the challenges of the economy.
However, the private sector is required to play pivotal role in this year to bring the economy back to the trend of growth stability.
For the development of import substitute industries, he suggested for expanding access to finance for CMSMEs and industrial startups through dedicated credit lines, loan guarantees and venture capital initiatives.
He said export diversification, export factoring, inter-bank foreign currency exchange and more incentivising the remittance inflow may increase forex reserve. He also suggested to promoting Alternative Trade Board (ATB) for trading infrastructure and participation in the capital market.
DCCI Senior Vice President Malik Talha Ismail Bari, Vice President Md. Junaed Ibna Ali and members of the Board of Directors were present during the event.
