Economy doing better amid global uncertainties, says Kamal

Though the prices of essential commodities have increased, the economy of Bangladesh is still in a better position compared to others amid global uncertainties, Finance Minister AHM Mustafa Kamal said on Thursday.
"The prices of essentials went up … none knows when the Russia-Ukraine war will end. How long can you run the economy properly amid this certainty?" he told newsmen after a meeting with a visiting delegation from the US-Bangladesh Business Council at his secretariat office.
"In spite of that, the economy is running well. Everyone says Bangladesh is in a better position than others."
The minister said people who say the economy is not doing well do not understand the economy.
Replying to a query, the minister said that in most cases the rate of inflation in the country remained within 7.5 per cent with an exception of 9.0 per cent in one recent month.
"When our government came to power the rate of inflation was 12.3 per cent. Despite the present troubled situation, the rate is only 7.5 per cent now," he said.
Regarding the meeting, Mr Kamal said the US business delegation expressed their interest to invest in agriculture, power, gas, and automobile sectors of Bangladesh.
He pointed out that no investment in the country has failed. "Bangladesh is a country of endless opportunities. None faces losses by investing here," he said, adding: "This is a place for businesses."
He said the delegation members expressed their interest to further expand their businesses here.
Asked whether they sought a 12-year tax holiday facility, the minister said that different sectors enjoy tax holiday facilities for different periods of time.
If they showcase the concept of 'Made in Bangladesh', the investors as well as the country will be benefited. "We want to further generate employment by promoting this concept," he said.

syful-islam@outlook.com