Bernicat identifies tarde and investment as tools for US-Bangladesh economic growth

The United State (US) Ambassador to Bangladesh Marcia Stephens Bloom Bernicat today said the US government is focusing upon increased trade and investment with Bangladesh for further mutual growth of both the countries' economies.

"Our Embassy in Dhaka is focusing upon further boosting the two economies through increased trade and investment," she said while addressing as the chief guest the inaugural session of Annual General Meeting (AGM) and 10th Anniversary celebration of International Business Forum of Bangladesh (IBFB) here. 

Bernicat said Bangladesh has quietly achieved improvement in various sectors leading a rise in the living standard and the educational level, adding, "I am so proud the US is a strong partner of Bangladesh on this successful journey." 

She underscored the need for further improvement in the partnership between the two countries to ensure a safe working environment in the industry sector and make stronger the transparency in all sectors to continue this credible journey of vibrant economy.

Side by side, she stressed upon creating a truly welcoming business climate while saying, "Indeed transparency, regulation and law are the central components of economic growth." Companies which operate transparently are to hold high standard quality in both decision making and provision of goods and services," she added. 

Bernicat also stressed upon improving tax system, infrastructure development and electricity generation to make more reliable the investment climate and urged the government and the private sector to work together in this regard. 

IBFB organized the AGM where Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Abdul Matlub Ahmad addressed as the special guest. IBFB President Hafizur Rahman Khan presided over the inaugural session. 

Mentioning the achievement of 7 percent growth in the first nine months of this Fiscal Year, Abdul Matlub Ahmad said Bangladesh is no more a bottomless basket. "It is no more a dream to become a middle income country by 2021, rather a possibility," he added.

He said the government has taken various steps including providing loans to the women entrepreneurs on a single digit interest to make them more empowered under the leadership of Prime Minister Sheikh Hasina. 

"Prime Minister Sheikh Hasina is working relentlessly to ensure the improvement of women empowerment," he added. 

Hafizur Rahman Khan said USA is the largest single-country market for Bangladeshi Ready Made Garments and also the single largest foreign investor in Bangladesh. 

The bilateral relationship between USA and Bangladesh is not limited within health and hygiene, education, promotion of democracy and good governance, rather the areas of this friendly relationship are examining day by day with increased exports, imports and investment in the fields of energy, goods and supply chain and safety and security, he added. 

He hoped that the US would facilitate more supports in the fields of technical and vocational training to make unskilled and semi skilled Bangladeshi youths as skilled human resources.

Source: BSS.