Focus on framework to boost private sector

Bangladesh needs internal institutional framework and stable energy policy to boost private sector for overall economic development.

Experts made the remarks at a seminar organised by Dhaka Chamber of Commerce and Industry (DCCI) and United Nation Development Programme (UNDP) on Sunday in Dhaka.

"The private sector stakeholders will be able to share advocacy with the government's policy makers through the frame work," said CPD's Distinguished Fellow Dr. Debapriya Bhattacharya.

Policy Research Institute's Executive Director Ahsan H. Mansur said local and foreign investors want to have a reliable source of power at stable rates to run their business.

He suggested formulating a stable energy policy. The economic governance is also necessary as the country's banking system is not going into the right direction, he said.

State Minister for Finance and Planning MA Mannan was also present.

CEO of PPP Authority of Prime Minister's Office Syed Afsor H Uddin said the private sector has a big potential to participate in development of the infrastructures.

"Private sector contributes only 10 per cent in infrastructures alongside 90 per cent by Bangladesh government," he added.

He suggested increasing allocation in infrastructure development by 357.14 per cent, to $12.5 billion from the current annual spending at $3.5 billion.

FBCCI President Md. Shafiul Islam Mohiuddin said the key challenges for Bangladesh in achieving SDG are access to finance and employment generation, poverty alleviation, energy efficiency.

Deputy Country Director of UNDP Bangladesh Kyoko Yokosuka said in terms of SDG there is an opportunity of investment of $12 trillion globally and $5 trillion in Asia.