Infrastructure, HR major hurdles to desired growth
DOT Desk
Inadequate infrastructure, energy insecurity and traffic mismanagement have been identified as some of the major hurdles to achieving desired investment and economic growth in the country, reports The Financial Express. Business leaders and policymakers pointed out the barriers at the first plenary session of an international conference titled ‘Destination Bangladesh’ in the capital on Sunday. Dhaka Chamber of Commerce and Industry (DCCI) organised the conference marking the trade body’s 60th anniversary.
The policymakers laid emphasis on synchronisation of economic direction and skills set, and having more free trade agreements (FTAs) with other countries.
They also stressed on improvement of economic governance for attracting foreign direct investment (FDI).
Prime Minister’s Principal Secretary Nojibur Rahman was present as the chief guest at the session, chaired by International Chamber of Commerce, Bangladesh (ICCB) President Mahbubur Rahman.
“We need to address the issues of certain infrastructure deficiency. Despite the fact that many mega projects have been undertaken, the Dhaka-Chittagong expressway which we have been talking about for a long time has not been implemented,” Mr Mahbubur Rahman told the session.
Although the Dhaka-Chittagong four-lane project has been done, he said, the expressway is a must to accelerate the growth and investment. It should be done on priority basis, said Mr Rahman, also chairman of the advisory committee of the conference.
He said the capacity of the Chittagong port should be doubled, but it cannot be shared with the neighbours. “At this point of time, the capacity should be doubled for our use,” he added.
The eminent business leader also laid emphasis on ensuring Chittagong-Pangaon regular traffic to ease the pressure on the land.
Citing an estimate of economic losses due to traffic congestion at 1.3 per cent of GDP, he noted that vehicular traffic management must be made scientific and automated. There should be no police on the street, he added.