Staff Reporter:
Finance and Planning Minister Amir Khosru Mahmud Chowdhury yesterday said Bangladesh is steadily emerging as the next major investment destination due to the government’s reform initiatives, leadership commitment, rapid decision-making and ambitious development agenda.
Speaking at a press briefing after the day’s National Economic Council (NEC) meeting yesterday, the minister said the government’s Taka 3,00,000 crore Annual Development Program (ADP) has been de-signed to pull the economy out of fragility through large-scale investments and employment generation.
“If aspirations are not high, development cannot move forward,” he said while responding to questions on whether the fresh ADP is overly ambitious.
“When the water level in a tube-well goes down, water has to be poured into it before water starts flow-ing again.
The minister said investors are being attracted by the leadership’s commitment, dynamism and fast-paced decision-making process.
“Investors are coming because they see commitment, dynamism and quick decision-making. Bangladesh is becoming acceptable to the world as the next investment destination,” he said.
Replying to a question on revenue mobilization, the minister acknowledged that Bangladesh’s tax-GDP ratio remains among the lowest in the world.
“That situation cannot continue if we want to become a stronger economy,” he said.
He said the government is implementing reform programs in the National Board of Revenue (NBR) and expanding the tax network to bring more people under the tax system.
“For many years, the same taxpayers have carried the burden while the network did not expand. We are now widening the network,” he said.
The minister said bringing more people into the tax net would eventually benefit citizens through better public services and social protection.
“This is an elected government. Earlier, benefits went into a few pockets. Now the benefits will go to the people of Bangladesh,” he said.
He also defended increased allocations for social protection and targeted assistance programs, saying dif-ferent support schemes serve different groups.
“A farmer receiving a farmer card is not the same person receiving a family card. These are targeted programs designed for different beneficiaries,” he said.
The minister reiterated that the government’s development strategy would focus on employment genera-tion, human resource development, healthcare, technical education and climate resilience to ensure sus-tainable long-term growth.
