GROUP PICTURE……….ICCB Annual Council
==== ===== ===== ==== ==== ==== ==== ==== ====

President of International Chamber of Commerce (ICC)-Bangladesh, the world business organization Mahbubur Rahman said that Bangladesh has done relatively well in developing its manufacturing sector, a key requirement for rapid economic growth. However, in almost every field of economic activity, the binding constraint has been energy. Bangladesh is in the grip of a massive energy crisis. Mismanagement, inappropriate strategy, corruption, lack of professional approach, shortage of competent professionals, and politicization of Trade Unions have created serious crisis in all segments of the energy value chain.

The Council, before the start of the business session condemned the brutal and senseless killings by the mutineers of the Bangladesh Rifles and offered prayer. The Council extended heartfelt condolences to the members of the bereaved families.

While presenting the Report of the Executive Board at the 14th ICC Bangladesh Annual Council 2008 on March 31, Rahman further observed that more integrated private–public partnership is sine-quanon very important for facing ongoing world economic challenges. In this regard, he observed that the business community has worked very closely with the government through the Bangladesh Better Business Forum (BBBF). Business Leaders are hopeful that BBBF will not only continue to function effectively but will be further strengthened under the able Chairmanship of the Honourable Prime Minister.

The Report also observed that democracy must be allowed to function and flourish for a sustained development. Politicians must develop the culture of mutual respect and the development of institutions at all levels is also essential. The Parliament has to be made effective, and the center of all national decision-making processes.

Regarding Digital Bangladesh Rahman observed that the new Government has given ICT a high profile in its plans; in fact, “Towards a Digital Bangladesh by 2021” is an important commitment. The ICT industry has the potential of becoming a very important export industry, and employer of quality manpower. To achieve this, the emphasis on English, on computer and programming proficiency, and exposure to the outside world will be essential.

The annual report mentioned that the global financial crisis has now transformed the economies of many countries, pulling some into deep recession. Where Bangladesh had dealings with them, such as destinations of our exports or expatriate workers, recession in those countries are also going to affect us as a consequence. The issue is, whether we can put in place appropriate policies that will guard us against the fall-out of such recession. The range of policies should be chosen now, with triggers; the appearance of specific signs should lead to the immediate implementation of policies for those sectors.

The Council marked that the challenge for our development is multifaceted. On the one hand, the reduction of poverty requires investment in the social sectors, such as education, health, rural development, etc. At the same time, without rapid growth of the economy, the reduction of poverty cannot be sustained; this requires an active trade and industrial policy. To reduce poverty from its present level over forty percent to about fifteen percent, Bangladesh needs to achieve a GDP growth rate of 8 percent annually during the coming 20 years.

Despite all odds, the ICCB Council expects that Bangladesh will realize its goals and emerge as one of the next eleven fast developing countries, as predicted by Goldman Sachs. The Business Community’s demand is a business-friendly enabling environment. They hoped that we should leave behind us all damaging activities such as hartals, street agitations, extortion, and rent-seeking.

Among others, ICCB Vice Presidents Latifur Rahman & Samson H. Chowdhury, ICCB Board Members A. S. M. Quasem, Aftab ul Islam, Kazi Mahmood Sattar, Kutubuddin Ahmed, Mahbub Jamil, Masih Ul Karim, Md. Fazlul Hoque, R. Maksud Khan and Waliur Rahman Bhuiyan, OBE; ICCB Members Rafique-ul-Huq, Bar-at-Law, Dr. M. Zahir, Bar-at-Law, Ajmalul Hossain QC, MCCI President Abdul Hafiz Choudhury, FCA, Chairman of Transmarine Logistics Ltd M. Ghaziul Haque, Agrani Bank Managing Director/CEO Syed Naser Bakhteyar, National Bank Managing Director/ CEO Md. Abdur Rahman Sarker,Bank Limited, Nestle Bangladesh Ltd. Managing Director Laurent Therond, Regional Head of State Bank of India Debabrata Datta, as well as MDs/CEOs and senior officials of banks, insurance companies, national and multinational companies also attended the Council.