COVID-19 situation in national, overseas entrepreneurship discussed

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DHAKA, July 4, 2020 (BSS) – Speakers at a web talk series today discussed various aspects of current and post- Coronavirus (COVID-19) pandemic situation in the fields of both national and overseas entrepreneurship.

They participated in the web talk series, session-6 of Bangladesh-Malaysia Chamber of Commerce and Industry titled “Following the COVID-19 pandemic: Challenges and opportunities for Entrepreneurship”, powered by ROBI, said a press release.

Welcoming the participators, Raquib Mohammad Fakhrul, President of
Bangladesh Malaysia Chamber of Commerce and Industry (BMCCI) said, every crisis brings challenges and threats to entrepreneurs and their organizations, no matter if it is initiated by human behavior, natural
disasters or economic mechanisms.

As the COVID-19 continues, he said the livelihoods of many entrepreneurs and small business owners have been threatened.

According to a recent Goldman Sachs survey, 50 percent of business owners that were surveyed said they did not think that they could continue business operations for more than three months.

He said although the businesses have put their blood, sweat, and tears to stay afloat, but the entrepreneurs are facing many obstacles.

Fakhrul said the COVID-19 pandemic has significantly affected self-employed entrepreneurial engagement while many businessmen have been forced to temporarily close their businesses due to government restrictions; others had to enforce restrictions and to perform their operations to a lesser degree.

Amir Farid Dato’Abu Hasan, Acting High Commissioner of Malaysia to
Bangladesh, said the COVID-19 pandemic is an unforeseen global phenomenon which has thrown the economy into chaos and effectively put commerce at a standstill.

“It has affected most businesses, including the small and medium enterprises (SMEs) and micro SMEs which make up a significant 98.5 percent of Malaysian businesses.” he added.

The Malaysian government responded to the coronavirus threat by introducing PRIHATIN or the Prihatin Raykat Stimulus Package, the purpose of which was to ease financial burdens of the people and businesses coping with the pandemic.

He suggested the SMEs that have the
option to allow their employees to work from home should consider this
as a “semi-permanent” solution until the virus threat has been minimized.

The speaker of the session, Manwar Hossain, Group Managing Director,
Anwar Group of Industries and Chairman, Bangladesh Steel Manufacturer’s
Association (BSMA) said, “As the evolution and implications of the
COVID-19 crisis are still unfolding, we think that exploring the
experiences and strategic responses of Asian countries may shed light on
ways to combat COVID-19 for the rest of the world.”

He hoped that the global health system would recover quickly, and the
world economy should be revitalized with the contributions and
collaboration of science (including social science), industry, and
governments.

BMCCI Past President Syed Moazzam Hossain, it’s Vice-President Anwar Shahid, Directors Mahbubul Alam, Secretary General Motaher Hossain Khan and Mahbubul
Alam Shah participated in the interactive session.

BMCCI President conducted the session and facilitated the whole webinar.

BMCCI members, presidents of leading chambers and associations, bankers,
government officials, business leaders, media personalities, and
journalists actively took part in the program.