Business institutions launch initiative to support recovery | The Daily Star
12:00 AM, May 20, 2020 / LAST MODIFIED: 12:31 AM, May 20, 2020

Economic Impacts of Covid-19

Business institutions launch initiative to support recovery

Four leading private business organisations of the country and an economic policy think-tank yesterday launched an initiative -- titled "Resurgent Bangladesh" -- to support execution of a number of plans to recover from the economic shocks of the Covid-19 pandemic.

The institutions are Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka Chamber of Commerce and Industry (DCCI), Chittagong Stock Exchange (CSE), Business Initiative Leading Development (BUILD), and Policy Exchange, according to a DCCI statement.

The initiative seeks to help the overall economic recovery in Bangladesh by assessing the impact on the private sector and develop recovery strategies for key economic themes.

The newly launched body will provide the government organised, evidence-based and actionable inputs for preparation of national economic recovery strategy, and facilitate public-private dialogue on necessary government policy actions for private sector recovery.

For instance, inputs into budgetary process, enabling voices of smaller and individual firms and providing them support will be some of the goals of this initiative.

The platform will help stimulate resurgence of a dynamic private sector using analytics, advocacy, and policy dialogues initially in seven economic themes, including manufacturing, services, international trade and exports, SMEs, financial sector, private investment, and agriculture.

The work will be undertaken under guidance of a steering committee, comprising Syed Nasim Manzur, adviser of Leather Footwear and Goods Manufacturers and Exporters Association; Nihad Kabir, president of MCCI; Shams Mahmud, president of DCCI; Abul Kasem Khan, chairperson of BUILD; Asif Ibrahim, chairperson of CSE; and Masrur Reaz, chairperson of Policy Exchange.

Policy Exchange will work as technical secretariat, while Deloitte and several other international institutions will provide support as knowledge partners, the statement said.

The coronavirus pandemic has had an unprecedented impact on the global economy, and businesses in Bangladesh have been grappling with massive repurcissions. 

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