Private sector development real growth driver for BD economy
UK Prime Minister’s Trade Envoy Rushanara Ali on Tuesday said Bangladesh has achieved tremendous success in the socio-economic sector. She noted that coordination between public and private sectors is essential for the continuation of this progress. She also said that the private sector development and trade expansion are the real growth drivers for Bangladesh’s economy. Rizwan Rahman said bilateral trade between Bangladesh and the UK was USD $ 4.11 billion in 2021. The UK’s net FDI stock in Bangladesh was about $ 2.53 billion and the UK is the 3rd largest export destination for Bangladesh and in the future it will grow further. He invited British investments in the shipbuilding, RMG, agro-processing, leather and footwear, light engineering and skills development sectors of Bangladesh. Bangladesh will enjoy duty-free, quota-free facility in the UK up to 2029, the DCCI president said and urged the UK to allow Bangladesh to enjoy this facility even after 2029.
WB approves $358m to help BD improve road safety
The World Bank approved on Tuesday $358 million of financing to help Bangladesh improve road safety and reduce fatalities and injuries from road traffic crashes in selected high-risk highways and district roads, reports BSS. The Road Safety Project will help Bangladesh achieve the Sustainable Development Goals on road safety by 2030. In two national highways-N4 (Gazipur-Elenga) and N6 (Natore to Nawabganj)-the project will pilot comprehensive road safety measures, including improved engineering designs, signing and marking, pedestrian facilities, speed enforcement, emergency care. The credit is from the World Bank’s International Development Association (IDA), which provides concessional financing, has a 30-year term, including a five-year grace period. Bangladesh currently has the largest ongoing IDA program totaling over $14.5 billion. The World Bank was among the first development partners to support Bangladesh and has committed $35 billion in grants, interest-free, and concessional credits to the country since its Independence. The costs related to traffic crashes can be as high as 5.1 percent of the GDP. Unsafe and under-invested road infrastructure is one of the key factors for crashes.
Stocks rise for second day
The stock market index continued to rise for a second consecutive day yesterday, the eve of a meeting between the Bangladesh Securities and Exchange Commission (BSEC) and stakeholders on the market’s current condition. The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), edged up 7 points, or 0.10 per cent, to 6,765. Chittagong Stock Exchange (CSE) also rose yesterday. The Caspi, the main index of the bourse of the port city, went up 15 points, or 0.07 per cent, to 19,804. Among the 301 stocks to be traded, 139 rose, 124 fell and 38 remained unchanged.