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Finance and Planning Minister Amir Khosru Mahmud Chowdhury
Finance and Planning Minister Amir Khosru Mahmud Chowdhury has stressed the importance of ensuring active participation and ownership of the private sector for successful implementation of the Integrated Growth Network Development (IGND) initiative.
He made the remarks while addressing a national awareness seminar on the IGND initiative at the Radisson Blu Hotel in Chattogram this evening. The Economic Relations Division (ERD) of the Ministry of Finance organised the seminar. ADB Vice President for South, Central and West Asia Yingming Yang presented the keynote paper.
Finance Minister Amir Khosru Mahmud Chowdhury said, “The total cost of the project is US$5 billion. Of this, the private sector will undertake work worth US$4 billion. If the private sector does not take ownership of this US$4 billion component and it is operated solely as a government project, the project will not succeed.”
He said, “Therefore, the private sector must be involved in it. The entire project is essentially centred on private-sector development and the economy.”
The finance minister said the government has already decided to establish a free trade zone on 10,000 acres of land. Chinese and Korean zones will be established there, while Japan has also been invited to establish a zone in the area.
In his keynote presentation, Yingming Yang said that during the ADB president’s visit to Bangladesh in May, he presented the IGND report to the prime minister and expressed the ADB’s interest in providing up to US$5 billion in support for the initiative over the next five years.
Yingming Yang said, “As Bangladesh’s principal seaport and one of its most dynamic economic centres, Chattogram has long played a vital role in connecting the country with regional and global markets.
“The development of Chattogram will play a central role in Bangladesh’s future growth and international competitiveness.”
On the need to strengthen sustainable growth, he said, “Over the past several decades, Bangladesh has made significant progress in economic growth, poverty reduction and human development. As the country prepares to graduate from the list of least developed countries, increasing productivity, competitiveness and sustainable growth is now the most important priority.”
Prime Minister’s Special Assistant for Investment and Capital Market Tanvir Gani, ERD Secretary Md Shahriar Kader Siddiqui and ERD Joint Secretary Mostafa Morshed also spoke at the seminar.
https://thedailyexpress.news/news/business/1f195a45-8c4b-6e60-b48c-1f951cb08d48