DHAKA, Jan 29, 2023 (BSS) - Centre for Policy Dialogue (CPD) has underscored 
the need for developing human capital to attract more local and foreign 
investment in the country.

"In order to ensure a breakthrough public and private investment (including 
FDI), digital and technological development, skill development, innovation 
and creativity improvement are essential," said CPD Research Director Dr 
Khondaler Golam Moazzem.

He said this while presenting a report titled "Bangladesh Business 
Environment 2022: Findings from the Executive Opinion Survey" at its 
Dhanmondi office here today.

CPD Executive Director Fahmida Khatun was also present at the event.

Khondaler Golam Moazzem said a number of technological breakthrough will be 
required in the case of energy, digital trade, 3D/4D, agriculture and health 
technologies.

"FDI should get priority along with local private investment. Major 
investment breakthroughs will be required in innovative ideas, competitive 
infrastructure, legal infrastructure, fiscal space and skill development and 
talent hunting," he added.

Moazzem laid emphasis on major overhauling in the country's financial sector. 

"Financial sector needs major overhauling which could be initiated as part of 
complying with the International Monetary Fund's (IMF) loan conditionality - 
amendment of bank company act, lifting the cap on lending rate to ensure 
better access of SMEs, transparency in outstanding loans, the effective 
oversight role of the central bank, Security and Exchange Commission (SEC) 
and Insurance Development and Regulatory Authority (IDRA)," he added.

He said an inclusive supply chain in major sectors needs to be developed with 
the assured presence of SMEs in each segment of the supply chain. 

Business-related information needs to be disclosed in an integrated 
information and data system to review the operations of players in the supply 
chains, he added.

Fahmida Khatun said, "The current situation is unstable. We have the pressure 
of inflation on one side, then there is the crisis caused by the Ukraine-
Russia war, also there are geopolitical factors for which even big economies 
are going through recessions." 

"Many international organisations like World Bank, the IMF have forecast that 
it will linger till 2024. Many big economies will enter recessions. The whole 
world is struggling, people in Bangladesh are also struggling with food 
price, fuel inflation. Individuals as well as businesses are facing pressure 
due to this," she added. 

CPD carried out the "Executive Opinion Survey (EOS)" from April-July 2022 in 
partnership with the World Economic Forum (WEF). The objective of the survey 
was to appreciate the perception of entrepreneurs and businessmen on the 
state of business competitiveness and factors and institutions responsible 
for long-term growth, especially during the post-pandemic period.