DCCI crossing 50yr mark
THE golden jubilee celebrations of Dhaka Chamber of Commerce and Industry (DCCI), an auspicious occasion as it is, could not have come at a more testing time -- for it, and the whole nation. Thus, whilst we felicitate it for leaving behind an eventful but chequered half a century, our hope is that its track record will come of some use in helping it meet the challenges posed by the global financial crisis. We say 'some use', because the DCCI would need more than experience to deal with the ramifications of the unprecedented crisis of confidence plaguing the world economy in the shape of a new phenomenon.
As if the oil and food crises and climate change-centred problems were not enough, the world is now reeling in an economic crisis whose ripple effects are likely to reach the shores of LDCs like Bangladesh.
First thing first, if we fail to build up a transparent, accountable, participatory and integrated world economic system, the much-coveted goal for sustainable development in individual countries will be a far cry. So, the issue is recasting the world economic order in the first place. This agenda which finds an instant resonance with us is that the market economy has to be conceptually and operatively distinguished from free, greed-driven, unregulated economy.
Then, comes the role of governments to facilitate growth, led by the private sector. True, in spite of daunting odds, Bangladeshi entrepreneurs did set up several industries to help inject dynamism in the economy. Set against the current global scenario, however, the young entrepreneurs will have to redouble their efforts to be the principal engine of development. The state has to play the role of a catalyst and facilitator thus helping to bring an equilibrium between the state and the market, the recipe whereby Bangladesh will emerge as a middle income country, hopefully in 15 years' time.
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