Tackle corruption to boost investors' confidence, cut costs
I believe that for the betterment of Bangladesh's economy, we need to put our best efforts into minimizing corruption.
This would build investors' confidence in the ease of doing business and encourage them to invest. Confidence in institutions would lead to both local and foreign direct investments (FDIs) and, in turn, help minimize government expenditures. As a result, both public and private institutions would become more accountable and efficient.
The inclusion of technocrats with global exposure in government and autonomous institutions, as well as in ministries, would greatly uplift the system.
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Non-performing large corporations with significant bank loans should be nationalized and governed by an autonomous board consisting of seasoned industrialists, experienced bureaucrats, economists, renowned teachers, and subject matter specialists. This board would implement strategic measures for safeguarding national interests.
A clear and realistic 5-year industrial investment plan should be implemented. Both public and private institutions should align with the plan to ensure they can foresee the future.
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