Mike Kazi talks to the FE Prioritising the development of entrepreneurship can expedite resilient recovery from Covid-induced economic shock in Bangladesh, Mike Kazi tells the FE in an interview.
He urges the policy-makers to provide a guideline for the talented young workforce to become entrepreneurs rather than looking for a job.
Mr Kazi is the president of the Bangladesh chapter of the US-based Entrepreneurs Organisation (EO), a global network of more than 15,000 members across 61 countries working since 1987.
"The EO is trying with an all-out effort to guide entrepreneurs but they need the government's policy support too," he says.
The main objective of the organisation is to build a bridge among entrepreneurs across the world.
"We help entrepreneurs achieve their full potential through the power of life-enhancing connections, shared experiences and collaborative learning," says Mr Kazi.
In Bangladesh, the EO has 40 members now. Another 70 are waiting to be its part. The EO has been working here for the past six years.
Mr Mike points out some obstacles discouraging entrepreneurs, including longer time for getting licences or any legal documentation.
He suggests improving the country's taxation system in line with the international best practice to attract foreign direct investment (FDI).
Mr Mike, who has been in the USA in the past 32 years as a dual citizen, is now working with Apex Property Ltd as its chairman to give a trustworthy service.
He says Bangladesh can attract FDI from non-resident Bangladeshis in the property sector through building their confidence in the country's investment climate.
The EO hosts international events and hires expert corporate trainers for entrepreneurs to help them build network, exchange knowledge and ensure market access.
It has already organised competitions at university level to find entrepreneurs from students so they can choose entrepreneurship as career instead of searching jobs, Mr Kazi tells the FE.
He says Bangladesh has full potentiality to develop entrepreneurship as investors get cheap labour along with recent government initiatives to set up facilities like economic zone and hi-tech park.
However, Mr Kazi expresses his concern over the global commodity price hike following the Russia-Ukraine war.
Entrepreneurs are already hit by Covid-19 and the recent crisis triggered their loss, he says, suggesting the government stand by businesses in such a crisis.
Former president of the Dhaka Chamber of Commerce and Industry (DCCI) Hossain Khaled is the founding president of the EO.
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