Our economy holds immense potential. Bangladesh, with a population of 17 crore, has a steadily growing economy. Pran-RFL, which started from scratch, has now become one of the country’s leading business entities. Pran-RFL's market is expanding beyond Bangladesh as well, exporting to over 145 countries. This shows that we are not lagging behind.
I would say that business is still doing well in the country, and we can expect even better growth in the future. The recent shift in power has temporarily impacted the economy, which is normal. However, the current leadership is gradually working to improve the situation. We now have some competent individuals in the financial sector, a capable governor, and experienced advisers. Several effective measures are being introduced that are crucial for the economy.
At this moment, improving law and order is of utmost importance. Although business owners initially faced challenges due to labor issues, the situation has now become much more positive. High-interest rates on loans have created additional pressure on new investments.
Recently, the policy interest rate was increased further to control inflation. However, this hike in policy rates is causing a continuous rise in loan interest rates. High-interest rates are an obstacle to boosting investment and employment. We hope that this does not become a long-term issue.
We believe in adopting a zero-tolerance policy toward law and order issues, which will give businesses the confidence to invest. Moreover, a poor law-and-order situation could send a negative message to foreign investors and well-wishers, which is already happening to some extent.
Therefore, it is essential to create a conducive environment immediately. We believe there is significant potential for foreign investments to come to our country in the future, so establishing stability is crucial. In this regard, a stable, elected government can play a vital role in ensuring national stability. The more we move in this direction, the more beneficial it will be for the country.
The writer is the chairman and CEO of PRAN-RFL Group
BDST: 1034 HRS, NOV 03, 2024
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