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FBCCI-WEBINAR, ONE
FBCCI’s webinar to keep the country’s economy afloat during Covid 19
DHAKA, June 7, 2020 (BSS) – Speakers at a webinar today underscored the need for economic sustainability, recovery, domestic investment, FDI and OFDI to keep afloat the county’s economy overcoming the impacts of Novel Coronavirus (Covid-19) pandemic.
Conducted by the FBCCI, the webinar was held at the FBCCI icon in Motijheel.
FBCCI President Sheikh Fazle Fahim delivered the welcome address.
Agriculture Minister Dr M Abdur Razzaque, Foreign Minister Dr AK Abdul Momen, Industries Minister Nurul Majid Mahmud Humayun, Commerce Minister Tipu Munshi and Prime Minister’s Adviser on Private Sector and Investment Salman F Rahman spoke at the webinar.
World Bank Country Director Marcy Myang Tembon, former FBCCI presidents Shafiul Islam Mohiuddin, AK Azad and Abdul Matlub Ahmed, BIDA Executive Chairman Sirajul Islam, BEZA Executive Chairman Paban Chowdhury, NBR Member Farid Uddin, former governors of BB Mohammad Farash Uddin and Salehuddin Ahmed, ADB Country Director Manmohan Prakash, IDB Regional Manager Mohammad Nassis bin Sulaiman, IMF Country Economist Muhammad Imam Hussain, UN Resident Coordinator Mia Seppo, FBCCI Director and advisers also spoke, among others, at the webinar.
Speaking on the occasion, Agriculture Minister Mohammad Abdur Razzaque said, “We are a self-sufficient country in terms of agricultural goods. The agriculture sector has been producing a surplus of consumable goods, even with the advent of Corona. With a toll on the buying power of the masses, we should look into utilizing the sector with the surplus of goods, in diversifying our export basket.”
Foreign Minister AK Abdul Momen said, “When our budget has been helping us over the last few years to elevate the nation from extreme poverty, the advent of Corona has pushed us back from our trajectory.”
He said if the stimulus package designed by the government is distributed efficiently, the government will be able to cope up with any obstacle due to the advent of the pandemic.
“Additionally, we have to channel our resources in the most potential sectors of the country such the agriculture sector. With the integration of IT into the sector, we can diversify our export sector and at the same time attract FDIs,” he added.
Industries Minister Nurul Majid Mahmud Humayun said, “The Prime Minister is taking the country’s health sector and industrial sector forward by keeping the economic wheel of the nation running amidst the pandemic.”
He said Corona has brought about a massive change in world economy. “Bangladesh needs to take this change forward. We need to have both short and long term goals. We also need to look into the shortcomings in some areas and discuss ways to reduce VAT and taxes for the industrial sector.“
Commerce Minister Tipu Munshi said with the advent of the pandemic, traders in the country have faced investment issues in the field of trade and commerce in addition to concerns surrounding the ready-made garments (RMG) sector. “But, we should not worry much as we have been successful in sustaining the economy. Besides, major changes are being made in the upcoming budget. We hope that we will soon be able to overcome this crisis and move towards development again,“ he added.
Prime Minister’s Private Sector Industry and Investment Adviser Salman F Rahman said, “Before everything else, we have to strengthen our health sector first. The economy cannot be restored without human capital. We must integrate IT within the health sector to enable Telemedicine. The Prime Minister has already appointed 5000 doctors and 3000 technicians and empowered district hospitals to have ICUs, to face the pandemic head-on, ” he added.
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