Economy on the mend

However, MCCI has identified poor implementation of the annual development programme (ADP) in the first half of the year as a threat to the economy. Only 10 percent of the ADP has been utilised at this half-way point, a record low pace of implementation.

And the concern expressed by the MCCI that the ADP may not be implemented fully for the second year running only increases that worry. No wonder, the business community finds itself in a disadvantageous situation. Because lack of government investment in essential sectors like energy, road etc. have reduced their competitiveness vis-à-vis their counterparts in other countries of the region.

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It's undoubtedly a plus for the business environment that the government initiative to contain toll collection has proved successful to a certain extent. We have to say though, that a greater emphasis needs to be placed on rule of law and increase in good governance. It is important that Chittagong port be rejuvenated. Enforcing the one-stop service at the port to reduce bureaucratic tangles is a step forward, but the challenge is to sustain the arrangement. And lastly, in order to continue with this economic growth, political uncertainties will have to be left behind. We need that for a positive and secure future.