United News of Bangladesh

Prime Minister Tarique Rahman held a meeting with a 50-member delegation of the US-Bangladesh Business Council on Thursday to discuss ways to increase US investment in Bangladesh, create jobs and accelerate economic growth. The meeting was held at the Prime Minister's Office (PMO) in Bangladesh Secretariat around 9:30am. Speaking to reporters after the meeting, PMO Spokesperson Mahdi Amin described the discussions as “highly productive and effective”, saying detailed and positive talks were held on how the US private sector could help boost foreign investment, create new employment opportunities and accelerate Bangladesh's economic progress. PM urges US businesses to ‘invest with confidence’, build long-term partnership Representatives from leading US businesses took part in the meeting, which focused on expanding US investment in Bangladesh and further strengthening the long-standing trade and economic ties between the two countries. ​Mahdi Amin, also Prime Minister’s adviser, said the meeting also discussed how the US private sector could contribute to implementing the government's election manifesto and various policies. The US businesses expressed interest in helping accelerate economic growth through job creation. He expressed hope that the visit by representatives of leading US businesses will further deepen Bangladesh-US economic ties. “We firmly believe that this successful meeting with the Prime Minister will take us one step closer to our vision of building a self-reliant and prosperous Bangladesh,” the PMO spokesperson said. Executive Vice President and Chief Commercial Officer of Excelerate Energy Oliver Simpson and President of the US-Bangladesh Business Council and Senior Vice President for South Asia at the US Chamber of Commerce Ambassador (retd) Atul Keshap led the delegation. Speaking to reporters, Keshap said US companies are proud to be Bangladesh's largest foreign investment partner and expressed confidence in the country's economic potential. He said they listened carefully to the Prime Minister's visionary outlook for the future of this great country, including his commitment to harnessing the tremendous potential of Bangladesh's people and human resources. Referring to the government's vision of transforming Bangladesh into a $1 trillion economy by 2034, the US-Bangladesh Business Council president said the private sector could play a powerful catalytic role by bringing technology, global experience and capital to accelerate people's welfare and economic prosperity. “Bangladesh is truly a country of tremendous potential,” he said, adding that several US companies have built partnerships with Bangladeshis over decades, contributing to job creation, revenue generation and overall economic progress. Keshap said the US business community has been encouraged by the government's focus on social development, public welfare, job creation and maintaining balance in macroeconomic indicators. “We will take this positive message back to our respective companies and the US business community through the US Chamber of Commerce,” he said. The US-Bangladesh Business Council president also thanked the Prime Minister, government members, secretaries, advisers and others concerned for their hospitality, expressing hope that the partnership between Bangladesh and the United States will continue to grow in the coming decades. The US business delegation included senior executives from US-Bangladesh Business Council, US Chamber of Commerce, Excelerate Energy, Chevron, Meta (Facebook), Visa, US Soybean Export Council, MetLife, Boeing, Uber, Asia Group, APR Energy, Venva, VF Corporation, Corteva Agriscience, Salesforce, Ulka Semi, Pathao, Cisco, Abbott, Metrotac, HSBC Bank, Standard Chartered Bank, Anchorless and Drinkwell. Finance and Planning Minister Amir Khosru Mahmud Chowdhury, Foreign Minister Dr Khalilur Rahman, Industries Minister Khandakar Abdul Muktadir, Prime Minister's Adviser on Finance and Planning Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Shama Obaed Islam, State Minister for Power, Energy and Mineral Resources Aninda Islam Amit, Prime Minister's advisers Humaiun Kobir and Rehan Asif Asad, Bangladesh Investment Development Authority (BIDA) Executive Chairman Ashik Chowdhury and Prime Minister's Additional Press Secretary Atikur Rahman Rumon, among others, were present at the meeting.

Finance Minister AHM Mustafa Kamal has started presenting the national budget in Parliament for the 2021-22 fiscal year with a focus on health, agriculture, social safety nets and job creation. The finance minister began rolling out the Tk 603,681 crore budget around 3:05 pm outlining measures to save lives and create more jobs so that people can cope with the fallout of the Covid-19 pandemic. Read:Cabinet approves proposed budget for new fiscal The budget also has a big focus on disaster management and food security apart from addressing the Covid-related issues. This is the third time Mustafa Kamal presenting the budget themed as "Priority on lives and livelihoods, tomorrow's Bangladesh.", while it is the 13th budget in a row for the Awami League government and the 50th for the country. Earlier, President Abdul Hamid authenticated the national budget and the revised budget for placing before the Jatiya Sangsad. Read: New national budget to be presented Thursday, aims at regaining fast economic growth The total revenue collection has fixed at Tk 389,000 crore, where National Board of Revenue (NBR) will collect Tk 330,000 crore while Tk 16,000 crore will come from non-NBR sector and Tk 43,000 will come from non-tax segment. Besides, Tk 3490 crore will come from foreign aid, grants and loans. Read:President to attend parliament to witness budget presentation 

Bangladesh and Asian Development Bank (ADB) on Wednesday agreed to undertake a slew of 'special actions' in order to expedite the implementation of ADB-assisted projects in this country for promoting faster economic recovery and greater job creation.

Speakers at a dialogue have said labour-intensive small entrepreneurs should be given priority during the disbursement of the Tk 20,000 crore incentive package announced by the government for the small and medium entrepreneurship.

Amid the growing impact of COVID-19 on the country, a recent study says job creation and inclusive growth must be the centerpiece of the recovery strategy.

Finance Minister AHM Mustafa Kamal on Thursday said he has brought about a structural change in this year’s budget in terms of setting priorities of the government by slightly deviating from traditional budget due to the coronavirus and its impact.