Govt ready to solve bottlenecks in business, Mannan tells BBG

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Planning minister MA Mannan on Thursday said the government’s door is open to business as the prime minister’s first priority is the country’s development and business is part of her strategy for delivering that.

“We want to hear from firms where the bottlenecks are ready to solve those. We want a business environment fit for the 21st Century,” the minister told a breakfast meeting.

The British Business Group (BBG) organised the breakfast meeting to discuss the planned growth of Bangladesh and how trade could help achieve that goal, says a press release of British high commission in Dhaka.

The meeting was co-hosted by Robert Chatterton Dickson, the British high commissioner, at his residence, and Francois de Maricourt, the chair of the BBG and CEO of HSBC Bangladesh.

Planning minister MA Mannan attended the meeting as the chief speaker while members of the BBG and Bangladesh high commissioner to the UK, Saida Muna Tasneem, also attended the event.

Francois de Maricourt said continued infrastructure investment is important for ensuring that the country is ready to meet the challenges of moving to middle income country status.

“British business, particularly its financial and professional services sector, is particularly well placed to contribute to Bangladesh’s development,” the British high commissioner said.

Robert Chatterton Dickson said: “The UK is the second largest investor in Bangladesh and Bangladesh is the third largest destination for Bangladeshi exports. Trade is an important part of the bilateral relationship and could be made even more so in the future with progress on improving Ease of Doing Business.”

The meeting heard how the government is planning for the momentous move from least developed country to middle income country in 2021. This will involve changes to the existing trade relationships Bangladesh has with many countries. 

It will also necessitate large scale infrastructure projects in areas such as power, roads, public transport and efforts to improve the environment.

This opens up opportunities for UK businesses to partner Bangladeshi firms to deliver the improvements that are needed.

The BBG expects Bangladesh to keep growing. In a recent report, HSBC predicted that Bangladesh is likely to be the biggest mover in global GDP rankings by 2030 (from 42nd to 26th).  British firms, including those who already have a commercial presence in the country, can help Bangladesh achieve that goal.

The BBG is committed to helping Bangladesh’s continued growth and meet the needs of its people in the future. British experience, expertise and international connections can help sustain Bangladesh’s impressive social and economic development by providing jobs and skills training for its workers.