BD needs to improve domestic efficiency to face challenges: Experts

Experts have suggested Bangladesh needs to improve internal domestic efficiency, existing labour force and financial sector to cope with the challenges they might face once it gets out of the status of Least Developing Country (LDC).

At the same time, the nation, which is supposed to run over the step of the LDC-transition in the coming March, will have to look for innovating financing option like bilateral non-concessional and international non-concessional sources to meet financial requirements of the government’s big projects.

The suggestions and recommendations came at a session titled “LDC Transition: Turning Challenges into Opportunities” held on the sidelines of Bangladesh Development Forum at a city hotel on Thursday.

The speakers also put the importance on demographic dividend the country and suggested to take necessary measures to enhance their efficiency in line with the global market demand, which will help the country to run over the line of lower middle income nation.

Lead Economist of the World Bank Dr. Zahid Hussain, Execute Director of Policy Research Institute (PRI) Dr. Ahsan H. Mansur, Commerce Secretary Shobhashish Bose and ERD Secretary Kazi Shofiqul Azam spoke in the event which was moderated by Dr. Mashiur Rahman, economic affairs adviser to the Prime Minister.

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