Competition Policy Advocated For FDI Boost in Bangladesh

Edimon Ginting, the Country Director of the Asian Development Bank (ADB) for Bangladesh, has identified competition policy as a critical factor in unlocking increased foreign investment flows into the country. Speaking at a quarterly luncheon meeting of the Metropolitan Chamber of Commerce and Industry (MCCI) held at its Gulshan office, Ginting emphasised the pivotal role of competition policy in driving economic growth and attracting new investments.

During his address as the chief guest at the event, Ginting highlighted the affirmative stance of the Bangladeshi economy in connecting with the global economy. He expressed optimism regarding the potential for enhanced investment flows, skills development, and overall capacity building in the country’s economy.

Ginting emphasised that a robust competition policy framework was essential to creating an environment conducive to attracting new investments. He noted that such a policy framework would not only stimulate competition among businesses but also encourage innovation and efficiency, ultimately contributing to economic growth and development.

Furthermore, Ginting highlighted the importance of human resource development and economic governance in Bangladesh. He emphasised that ADB stood ready to collaborate with stakeholders in these areas to support Bangladesh’s sustainable progress.

In his welcome remarks, Kamran T. Rahman, President of MCCI, acknowledged the valuable assistance provided by ADB in various sectors, including climate resilience, infrastructure, social protection, job creation, and water and sanitation. Rahman highlighted MCCI’s unique position as a premier trade body to collaborate with ADB in fostering a favourable business ecosystem in Bangladesh.

Rahman expressed confidence in the partnership between ADB and MCCI, emphasising the synergy between ADB’s expertise and MCCI’s understanding of Bangladesh’s business landscape. He envisioned the visit of Edimon Ginting to MCCI as the beginning of a successful partnership aimed at addressing Bangladesh’s business challenges and fostering sustainable economic growth.