Better Business Forum's first meet next week
Saturday, 8 December 2007
FE Report
The 'Bangladesh Better Business Forum' (BBBF) has convened its maiden meeting next week to discuss the public-private platform's work plan, while navigating its course ahead, a well-placed source said.
Chief Adviser Fakhruddin Ahmed is expected to chair the meeting, scheduled for Tuesday, to be attended by members of the elite platform.
"The forum will hold its first meeting Tuesday. It will primarily dwell on the work plan and how it can function in a better way," the source, who is close to the BBBF, told the FE.
"The 38-member body will discuss in detail on the economy that is experiencing both internal and external shocks and also share ideas about how the pace of private investment can be accelerated without halting the ongoing anti-graft campaign," the source added.
The agenda of the first meeting are still to be finalised, but the sources noted that members will discuss their future course of action and formation of various working groups.
The economy is teetering on the brink of "recession" in the aftermath of two phases of monsoon floods, Cyclone Sidr and inflationary pressures, while record oil prices and rocketing commodity prices in the international market have posed considerable risks to public finance.
The sources pointed out that the Chief Adviser may give some directives to the executive segment of the forum which will be main functional organ of the high-profile body.
The caretaker administration, in a notification on November 26, announced formation of the first-ever public-private business forum designed in a way to strengthen interaction between the business community and government top brass.
CA, a former World Bank economist and Bangladesh Bank governor, is heading the forum, with its secretariat housed at the Board of Investment (BoI), the official agency responsible for investment promotion.
According to the notification, it is necessary to have such a forum to achieve sustainable economic growth, especially by maintaining an investment and business-friendly atmosphere in the country.
Business leaders have welcomed the government's decision, saying the body will act as "an important vehicle" between the private sector and the government, while also boosting the confidence of the business community.
The finance and planning adviser has been made executive chairperson of the BBBF while the BoI executive chairman will be its member secretary.
The forum will meet at least thrice a year with the chief adviser in the chair, and at least once every two months with the executive chairman presiding, according to the government decision.
The forum will have multiple working groups or taskforces with the responsibility to recommend measures that could foster trade and investment.
The working groups once formed will work in the areas of foreign direct investment, and investment promotion, sectoral development, tax policy, import, export, infrastructure for private sector development, privatisation, information and communications technology, global trade and human resource development.
The forum has inducted some top bureaucrats, top leaders of chambers and trade bodies and some private sector captains. In addition, the BBBF has brought in noted economists and civil society representatives.
The 'Bangladesh Better Business Forum' (BBBF) has convened its maiden meeting next week to discuss the public-private platform's work plan, while navigating its course ahead, a well-placed source said.
Chief Adviser Fakhruddin Ahmed is expected to chair the meeting, scheduled for Tuesday, to be attended by members of the elite platform.
"The forum will hold its first meeting Tuesday. It will primarily dwell on the work plan and how it can function in a better way," the source, who is close to the BBBF, told the FE.
"The 38-member body will discuss in detail on the economy that is experiencing both internal and external shocks and also share ideas about how the pace of private investment can be accelerated without halting the ongoing anti-graft campaign," the source added.
The agenda of the first meeting are still to be finalised, but the sources noted that members will discuss their future course of action and formation of various working groups.
The economy is teetering on the brink of "recession" in the aftermath of two phases of monsoon floods, Cyclone Sidr and inflationary pressures, while record oil prices and rocketing commodity prices in the international market have posed considerable risks to public finance.
The sources pointed out that the Chief Adviser may give some directives to the executive segment of the forum which will be main functional organ of the high-profile body.
The caretaker administration, in a notification on November 26, announced formation of the first-ever public-private business forum designed in a way to strengthen interaction between the business community and government top brass.
CA, a former World Bank economist and Bangladesh Bank governor, is heading the forum, with its secretariat housed at the Board of Investment (BoI), the official agency responsible for investment promotion.
According to the notification, it is necessary to have such a forum to achieve sustainable economic growth, especially by maintaining an investment and business-friendly atmosphere in the country.
Business leaders have welcomed the government's decision, saying the body will act as "an important vehicle" between the private sector and the government, while also boosting the confidence of the business community.
The finance and planning adviser has been made executive chairperson of the BBBF while the BoI executive chairman will be its member secretary.
The forum will meet at least thrice a year with the chief adviser in the chair, and at least once every two months with the executive chairman presiding, according to the government decision.
The forum will have multiple working groups or taskforces with the responsibility to recommend measures that could foster trade and investment.
The working groups once formed will work in the areas of foreign direct investment, and investment promotion, sectoral development, tax policy, import, export, infrastructure for private sector development, privatisation, information and communications technology, global trade and human resource development.
The forum has inducted some top bureaucrats, top leaders of chambers and trade bodies and some private sector captains. In addition, the BBBF has brought in noted economists and civil society representatives.