DHAKA, Jan 30, 2020 (BSS) – The two-day long Bangladesh Development Forum
(BDF) 2020 ended in the capital today with a call for effective partnership
between the government and development partners for implementing the 8th five
year and long-term sustainable development plan of the country.
During the forum organised by the Economic Relations Division (ERD), the
government shared the broader strategies of the upcoming 8th Five Year Plan
with the development partners and other major development actors.
The forum ended with a number of recommendations, including developing a
BDF 2020 outcome document based on mutual accountability that sets shared
objectives and targets, agreed actions of the outcome document will be
followed up through the Local Consultative Group (LCG) Government-DP Plenary
and the 8th Five-Year Plan will guide the discussion on the LCG Working Group
reform.
The government ministries also presented their mid and long-term
development plans in various priority areas like quality education, inclusive
healthcare, innovative financing, rural transformation, sustainable
urbanisation, climate financing, private sector engagement and trade
facilitation.
Sharing the outcomes of the BDF 2020 at the closing ceremony at the
Bangabandhu International Conference Centre (BICC), Finance Minister AHM
Mustafa Kamal said the government held this BDF at a time when the 7th Five
Year Plan is going to end this year while the next 8th Five Year Plan will be
formulated.
“The suggestions from this BDF will definitely be helpful for formulating
the next 8th Five Year Plan,” he said, adding that this plan will be
completely aligned with the Sustainable Development Goals (SDGs).
He said a paper would be published within a month based on the outcomes of
the forum.
Foreign Minister Dr AK Abdul Momen, Prime Minister’s Economic Affairs
Adviser Dr Mashiur Rahman, ERD Secretary Monowar Ahmed and UN Resident
Coordinator and LCG Co Chair Mia Seppo spoke at the closing ceremony.
Later on, they gave answers to the queries of the journalists at a press
conference.
Like the MDGs, Bangladesh would be able to deliver the SDGs before many
countries of the world, Kamal said, adding following the path of 2030
development agenda, Bangladesh is poised to become a developed country by
2041.
Referring to the concerns of the development partners to some extent over
the country’s less private investment and over the low tax-GDP ratio, he said
the government from the next year would keep an estimation as to what extent
it gives various types of exemptions to the industries and businesses like
tax holidays and other benefits.
“If these are taken into account, then you can see that the tax-GDP ratio
will be very much comparable to other countries of the world
………..through effective enforcement, we’ll be in a better position to
deliver according to our desired objectives,” he added.
Referring to the draft 8th Five Year Plan, the Finance Minister said the
plan projected to raise the GDP growth to 8.51 percent in FY25 from 8.23
percent in FY20 while the poverty rate is expected to come down at 12.1
percent in FY25 as well as the extreme poverty rate at 5.28 percent.
Besides, he said the plan eyes on generating some 10.5 million employments
both at home and abroad while efforts will be there to raise the tax-GDP
ratio to 15 percent.
Answering to a question, Kamal said Bangladesh is an ideal place for making
investment while the country has never been a defaulter while repaying its
debt.
Replying to another question, he said the government has no apprehension
right at the moment about the implementation progress of the Chinese funded
projects.
Mentioning that Bangladesh requires an additional amount of around $928.48
billion for attaining the Sustainable Development Goals (SDGs) by 2030,
Foreign Minister Dr AK Abdul Momen said it is quite unfortunate that the
development partners are not coming up heavily to this end.
“I’ll urge the development partners that you should tell your respective
countries and agencies to meet these promises,” he said, adding Bangladesh is
no more a bottomless basket; rather it is now a vibrant economy.
“We did a miraculous job in reducing poverty and we’re doing well over the
last few years. We hope to achieve faster growth in the next decade,” Momen
said, adding that the country needs much more partnership and resource
mobilization to attain the SDGs.
The Foreign Minister also suggested that the development partners could
come up heavily to support Bangladesh in meeting the financing gap in both
tangible and intangible infrastructures.
PM’s Economic Affairs Adviser Dr Mashiur Rahman said the need for
macroeconomic balance and the need for mobilizing resources both domestic and
foreign, the IMF and the IFC are expected to play their due important roles.
He said the encouragement of export-led growth has lost some of its sight
given the contentions among the major economies and the protectionists also,
the development partners in conjunction with the WTO and UNCTAD need to bring
it back for the sake of orderly global trade.
This year’s BDF has come up with a joint communique that spells out
necessary joint steps in the priority areas.
The Forum sought to deepen policy dialogue on key areas, including
addressing critical challenges in the 8th Five Year Plan and cooperation on
strategic priorities; and thereby support to Bangladesh.
The Forum acknowledged that Bangladesh on this trajectory of development
demands greater partnership in a more holistic way. An effective partnership
framework for sustainable development needs to reflect government leadership
on policy reform; and bring together the full range of partners to align
their strategies with the national development priorities.
BDF 2020 was held at a time when Bangladesh is at a defining juncture in
its development journey. First, the nation is now taking preparation to
celebrate the birth centenary of the Father of the Nation Sheikh Mujibur
Rahman and BDF 2020 was dedicated to the Birth Centenary of the Father of the
Nation.
The keynote session of the forum was devoted to ‘Effective Partnership for
Implementing the 8th Five Year Plan Aiming towards Achieving SDGs’.
It was followed by eight working sessions themed on: Private Sector
Engagement and Trade Facilitation; Partnership for Climate Change and its
Financing; Innovative Financing for a Self-reliant Bangladesh; Rural
Transformation: Creating Opportunities for All; Health Services: Inclusive
Delivery Options; Energy Security for Sustainable Growth; Sustainable Cities:
Services and Protection for the Vulnerable; and Quality Education for All:
Preparing for 4th Industrial Revolution; Sustainable Cities: Services and
Protection for the Vulnerable; and Quality Education for All: Preparing for
4th Industrial Revolution.