Attracting investments main challenge: Atiur

Bangladesh Bank Governor Dr Atiur Rahman said on Saturday attraction of more investment is the main challenge now for Bangladesh's economy and the central bank's monetary policy alone can not do it.
"We want to maintain Bangladesh's economic growth within the limit of 7-8 per cent. We also want to keep inflation within the 5-6 per cent limit. Under the circumstances, the investment needs to be boosted," he said.
The central bank alone cannot improve the investment situation except the intervention of the government and the private sector, he said at a seminar in the capital.
The Business Studies Faculty of the Dhaka University organised the seminar on "State of economy and the Monetary Policy Statement of Bangladesh" at its campus.
BB Chief Economist Dr Biru Paksha Paul presented the latest monetary policy of the central bank, announced in late January.
Dr Atiur also called for a strong regional integration among the South Asian nations to develop each of the economies in the Sub-continent.
"See China, it has developed through enhancing bonding with its neighbours. India could have come forward like China to enhance the economic ties with its South Asian neighbours to make a new world in this region," he said.
"We have also called upon China and Japan to come forward with their investment in Bangladesh, the economy of which is much more stable than any other countries in Asia," the central bank chief said.
He said Bangladesh Bank monitors the recent rise in the volume of non-performing loans with concern and care.  
"While many of these figures are potentially alarming, Bangladesh Bank has already taken some corrective measures to bring down classified loans. We hope to see a fall in it soon.  Digital technology has been introduced to investigate big financial transactions and loans in order to stop the repetition of banking irregularities," Dr Rahman added.
Business Faculty Dean Professor Shibli Rubayat Ul Islam and Professor Sheikh Samsuddin Ahmed of the DU Department of Finance also spoke at the seminar.
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