Planning Minister M A Mannan on Monday stressed the need for improving the investment environment in the country to achieve a better ranking in the ease of doing business index and attract more investment.
"Faster completion of the mega projects will help expedite business and trade and improve the public life," he told a delegation of Dhaka Chamber of Commerce & Industry (DCCI) at his office, adding that the government is committed to implementing the mega projects in time.
The DCCI delegation, led by its President Osama Taseer, called on the minister and discussed the issues relevant to creating a sustainable business-friendly environment in the country, said a statement.
To attain required economic growth, the minister stressed the need for collective efforts from both public and private sectors.
He urged the private sector to place necessary recommendations for how to better in the ease of doing business index.
He also stressed the importance of vocational education to create skilled human resources and urged the private sector to invest more in establishing training institutes.
DCCI President Osama Taseer said: "To attain double digit GDP growth in the years to come, we have to frame business-friendly policies, mitigate the challenges of infrastructure and attract local and foreign investments."
To improve in the ease of doing business index, he said, there will have to have a proper planning for infrastructure development and to increase budget allocation.
"At present, we spend 3.64 per cent of our GDP on infrastructure while China spends 7.0 per cent, Vietnam 10 per cent, India 5.0 per cent, Sri Lanka 5.0 per cent and Philippines 5.0 per cent," he said.
To monitor timely completion of mega infrastructure projects and ensure coordination among the bodies concerned, Mr. Taseer suggested forming a high-powered authority named "National Infrastructure Development and Monitoring Advisory Authority (NIDMA)" under the leadership of the Prime Minister.
He also suggested establishing Moheshkhali deep sea port, as it will help boost regional trade.
He also called for proper planning and necessary measures to tap the potentials of blue economy.
Mr. Taseer emphasised on vocational education system as per the need of industry. For skill development, he stressed the need for training to meet the demand of international labour market.
"To get the full advantage of 4th Industrial Revolution, we have no alternative but to improve our institutional capacity and skill development of our human resources," he said.
DCCI Vice-President Imran Ahmed and directors were also present at the meeting.