ADB appreciates growing involvement of Bangladesh in global economy

The Asian Development Bank (ADB) Country Director for Bangladesh Edimon Ginting appreciated the growing involvement of the country in the global economy and affirmed their determination to further enhance it.

Ginting said this while addressing the quarterly luncheon meeting of the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) as the chief guest at its Gulshan office.

Kamran T. Rahman, president, MCCI, offered the welcome remarks. The event was moderated by MCCI secretary general and CEO Farooq Ahmed.

Former MCCI president Barrister Nihad Kabir, Foreign Investors Chamber of Commerce and Industry (FICCI) president Javed Akhter, Policy Research Institute (PRI) Dr Zaidi Sattar, Policy Exchange Bangladesh chairman Dr Masrur Reaz spoke at the meeting.

The ADB country director believed that there was potential for increased investment flows, skills development, and overall capacity building in the country.

"However, a good competition policy was required to bring in new investments," he said underscoring the need for human resources development and economic governance in the country.

He also mentioned that the lending agency could work in those areas.

Before concluding, Ginting reiterated the ADB's commitment to helping Bangladesh's progress sustainably amid various environmental challenges.

The MCCI President acknowledged ADB's assistance in developing Bangladesh's climate resilience, infrastructure, social protection, job creation and water and sanitation landscape.

"MCCI, as the preeminent trade body, held an exclusive position to partner with ADB to cultivate a favorable business ecosystem in Bangladesh," he added.

Kamran believed that the ADB's expertise, combined with MCCI's understanding, offered a unique opportunity to address Bangladesh's business challenges.

The MCCI president believed this visit could mark the beginning of a successful partnership between ADB and MCCI.

An open discussion took place before the conclusion of the event. Topics that came up include the scope for ADB financing in Taka, ADB's new role of indirect financing in Bangladesh, the need for ADB funding in the development of social security and quality standards, the scope of ADB's work in governance and enforcement of laws, and capacity development in Bangladesh.