BD needs to attract pvt sector investment for job creation

Bangladesh needs to attract private sector investment, SME financing both in rural and urban areas, foreign direct investment meant for job creation in the country amid jobless growth, said Asian Development Bank (ADB) vice president Wencai Zhang.

Terming jobless growth a challenge, the ADB vice president said, "The country has been expanding on an average 6.3 per cent since 2008, but this time there is a need to gather momentum in private investment in special economic zones."

The ADB vice-president made the observations while speaking at a press briefing held at its Dhaka office on Thursday.

He also attended the Bangladesh Development Forum (BDF) meeting, held in Dhaka, as one of the keynote speakers.

The ADB official said resource mobilising for development works is a big challenge for the country, suggesting resources mobilisation from the private and external sectors to support infrastructures and development of other sectors.

There is also need for investment in the country's infrastructures.

The ADB vice president stressed the need for human resources development, skills development and quality education for job creation.

Responding to a query about the Rohingya repatriation issue, he said if Bangladesh seeks support from ADB, the international lending agency will consider it.

He, however, said he is personally happy with the developments in repatriation of Rohingyas through a bilateral agreement.

He also said regional integration is very much important for the country and it helps derive benefits from regional and global chains.

"Disaster management is also important and climate change every year impacts the country's agriculture," he added.

He said inequality between the rich and poor in rural and urban areas should be addressed through policy changes.

Responding to a move taken by the multilateral lending agency to set up a hub in Delhi, he said they want its fast and speedy operation in the region including Sri Lanka, Pakistan and others.

He said Bangladesh has made progress in many fronts in recent years in terms of project monitoring and evaluations.

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