Economy to dominate discussion
Tuesday, 11 December 2007
FE Report
The economic risks, particularly the impact of cyclone Sidr, are likely to eclipse other agenda when members of the 'Bangladesh Better Business Forum' (BBBF) meet Saturday to take stock of the country's trade and investment scenarios.
As natural catastrophes, inflationary pressure, and global commodity price hike have emerge as major threats economic growth prospects, the 38-member-strong forum's first meeting is also expected to share ideas about how to re-investigate the economy, the sources said.
The sources noted the first meeting of the public-private platform, originally scheduled for December 11, had been shifted to December 15.
Chief Adviser Fakhruddin Ahmed is expected to chair the meeting at the Chief Adviser's Office, to be attended by members of the elite platform that brought in top policy makers, private sector captains and civil society representatives.
"We're still working on the agenda. But you can assume economic risks and the possible way-out are sure to dominate the first meeting," a forum member said.
"As the main objective of the forum's formation is to create a bridge between the government and the private sector, the meeting will certainly touch upon the current trade and investment scenarios," the source added.
The sources close to the forum said the new executive chairman of the Board of Investment, who is also the member secretary of the BBBF, will share his experiences with the forum members about the just-concluded meeting of Vietnam Business Forum.
"The date (of the meeting) has been shifted … It will primarily dwell on the work plan and how it can function in a better way," a BBBF member told the FE.
"The high-profile 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 noted.
The BBBF sources noted that members will discuss their future course of action and formation of various working groups.
The caretaker administration, in a notification issued on November 26, announced formation of the first-ever public-private business forum with the aim to strengthen interaction between the business community and government top brass.
Business leaders have welcomed the government's decision, saying the body will act as "an important vehicle" between the private sector and the government, thus boosting the confidence of the business community.
The erosion of business confidence has remained one of hot-button topics since the present interim administration's crackdown on corruption launched in January this year.
The forum will meet thrice a year with the chief adviser in the chair, while at the operational level, members will meet at least once in every two months with the executive chairman presiding, according to the government decision.
The forum will have multiple working groups or taskforces to be charged with recommending measures that could foster trade and investment.
The would-be working groups 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.
CA, a former World Bank economist and Bangladesh Bank governor, is heading the forum, with its secretariat being housed at the Board of Investment (BoI), the official agency responsible for investment promotion.
The forum has inducted some top bureaucrats, top leaders of chambers and trade bodies and some private sector captains. The BBBF has also brought in noted economists and civil society representatives.
The economic risks, particularly the impact of cyclone Sidr, are likely to eclipse other agenda when members of the 'Bangladesh Better Business Forum' (BBBF) meet Saturday to take stock of the country's trade and investment scenarios.
As natural catastrophes, inflationary pressure, and global commodity price hike have emerge as major threats economic growth prospects, the 38-member-strong forum's first meeting is also expected to share ideas about how to re-investigate the economy, the sources said.
The sources noted the first meeting of the public-private platform, originally scheduled for December 11, had been shifted to December 15.
Chief Adviser Fakhruddin Ahmed is expected to chair the meeting at the Chief Adviser's Office, to be attended by members of the elite platform that brought in top policy makers, private sector captains and civil society representatives.
"We're still working on the agenda. But you can assume economic risks and the possible way-out are sure to dominate the first meeting," a forum member said.
"As the main objective of the forum's formation is to create a bridge between the government and the private sector, the meeting will certainly touch upon the current trade and investment scenarios," the source added.
The sources close to the forum said the new executive chairman of the Board of Investment, who is also the member secretary of the BBBF, will share his experiences with the forum members about the just-concluded meeting of Vietnam Business Forum.
"The date (of the meeting) has been shifted … It will primarily dwell on the work plan and how it can function in a better way," a BBBF member told the FE.
"The high-profile 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 noted.
The BBBF sources noted that members will discuss their future course of action and formation of various working groups.
The caretaker administration, in a notification issued on November 26, announced formation of the first-ever public-private business forum with the aim to strengthen interaction between the business community and government top brass.
Business leaders have welcomed the government's decision, saying the body will act as "an important vehicle" between the private sector and the government, thus boosting the confidence of the business community.
The erosion of business confidence has remained one of hot-button topics since the present interim administration's crackdown on corruption launched in January this year.
The forum will meet thrice a year with the chief adviser in the chair, while at the operational level, members will meet at least once in every two months with the executive chairman presiding, according to the government decision.
The forum will have multiple working groups or taskforces to be charged with recommending measures that could foster trade and investment.
The would-be working groups 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.
CA, a former World Bank economist and Bangladesh Bank governor, is heading the forum, with its secretariat being housed at the Board of Investment (BoI), the official agency responsible for investment promotion.
The forum has inducted some top bureaucrats, top leaders of chambers and trade bodies and some private sector captains. The BBBF has also brought in noted economists and civil society representatives.