Experts discuss policy reforms for facilitating journey towards trillion-dollar economy

Experts on Saturday said floating bonds for various large infrastructure projects is crucial as it can reduce pressure on foreign exchange for financing large projects.

The move will also help the private sector get foreign currency, they said at a conference titled "Chartered Accountants' Role in Achieving Smart Bangladesh by 2041" organised by the Institute of Chartered Accountants of Bangladesh (ICAB) at Hotel Sheraton, Dhaka.

They also said to achieve a trillion-dollar-plus economy all stakeholders have to work together by addressing existing issues, taking bold steps, and making necessary policy reforms.

Currently, the manufacturing and other essential goods importers are suffering much due to limited access to LC opening. Such a situation would hold back the growth potential of the country, they opined.

Speakers at the conference also suggested a number of policy reforms including in the areas of ensuring quality education and setting up of technical schools, ensuring digital education, development of IT infrastructure, setting-up of bonded warehouses.

Mohammad Salahuddin, deputy secretary and project analyst of Aspire to Innovate Programme (a2i), said the vision of Smart Bangladesh 2041 includes four key pillars of changes – smart citizen, smart government, smart economy, and smart society.

He highlighted three issues that need to be addressed – the issue of machines or robots replacing human workers, the need for new skills and educational levels to operate new technologies, and the challenge faced by startups in making significant upfront investments in Fourth Industrial Revolution (4IR) technologies.

Bikarna Kumar Ghosh, former managing director of Bangladesh Hi-tech Park Authority, mentioned that the government has taken a mega plan to build a nationwide hi-tech infrastructure network along with IT incubation and training centres in eight districts in the country.

Md Abul Kalam Azad, special envoy, Climate Vulnerable Forum (CVF), "We must be smart citizens, otherwise, smart government, smart economy, and smart society will not work properly. Power, investment, and skilled manpower will make Smart Bangladesh."

Mahtab Uddin Ahmed, former chief executive officer of Robi Axiata Limited, said, "If we go the card less, cashless economy within five to ten years, we have to ensure 100% telecom connectivity. Now around 60% of people are in the connectivity."

Samira Zuberi Himika, senior vice president of BASIS, said, "While the government is investing in infrastructure, there are concerns about whether there is enough skilled labour. Introducing a knowledge-based education system could help address this issue."

ICAB President Md Moniruzzaman, Vice President MBM Lutful Hadee and ICAB Chief Executive Officer Shubhashish Bose spoke at the conference.