Internal issues need fixing
ACCORDING to various media sources, political and foreign relations analysts at home and abroad have described Prime Minister Sheikh Hasina's visit to the United States, in connection with the UN General Assembly session, a wonderful achievement for the country's foreign policy and foreign affairs management. Many have said that the rapport developed with the world's most influential country, through a series of interactions in a brief period, has warmed Dhaka-Washington ties, particularly when US foreign policy is going through a series of changes under the Obama Administration.
This writer's interactions with US State Department officials home and abroad also carry enough testimony with regards to providing space to the new government in Bangladesh. This is obviously an achievement for the present government, which is focused on global issues like climate change impact, rapid increase of cross-border terrorism and corruption. Besides, our exports to the US and the rest of the world, along with inward remittances, are holding up pretty well despite the global meltdown.
As much as we welcome these achievements, we must also remember that in a constantly shifting geo-political environment, maintaining a long-term external relationship also calls for continuous and constant engagement. The United States and the world outside have taken Bangladesh into cognisance because of the visible change in American foreign policy under Obama, and last year's highly credible and landmark general elections in Bangladesh. This is an opportunity for Bangladesh, and we must seize it by rapid development on the domestic front, and also by not attracting headlines for the wrong reasons. As many would agree, there are a few domestic issues the government needs to address immediately.
First of all, the government needs to improve the general law and order situation significantly. In recent times, this situation has worsened considerably, putting a question mark even on democracy (!). Unfortunately, the perception about the country's law and order situation has worsened more than the actual situation. This is also being fuelled by uncontrolled extortion by leaders of ruling party student fronts and associate organisations. Anti-social miscreants are creating horror in public life and earning a bad name for the government. The government bureaucracy is hesitant and not focused enough to handle these issues with determination. As a result, the overall investment climate also remains bleak.
The banking sector is flushed with huge liquidity. A fall of interest among investors to commit to further expansion is alarming. There is a gradual fear creeping into the business community that Bangladesh will be vulnerable toward the end of the global recession. The government needs to take effective steps to eradicate the business community's fear, show business-friendly intentions and make some quick decisions to regain confidence of investors. Foreign investors operating in the country and interested in exploring opportunities here need to be brought into confidence too. They must be able to appreciate that they are not unwelcome here. Projects must be awarded to competent institutions with a proven delivery track record, not to those that are close to the regime or higher-ups.
The ongoing crisis of energy and infrastructure needs to be addressed immediately. The government should take planned and defined steps to develop the infrastructure, the lack of which is not only causing domestic industries to suffer but also keeping away a lot of foreign investment. Bangladesh will need an investment of $2.4 billion to build the infrastructure to effectively join the Asian Highway network, including transit to India, which would link Bulgaria in Europe to the Philippines in Southeast Asia, according to a study by the Asian Development Bank (ADB).
Funding for this project is also a key issue, along with other issues being discussed for infrastructure development. It is, possibly, not only an issue of importing more furnace oil to support non gas-based power plants, but also of the importance of the furnace oil reaching the plant, and of providing storage facilities closer to the plants.
The viability of public and private partnership also needs to be assessed. Energy problems, particularly the electricity crisis and potential crisis of gas, must be addressed with a comprehensive program, along with the development of alternate energy sources, a workable distribution network and storage facilities.
We don't have time to play the blame game; rather, the limited time and resources we have must be used wisely to meet the demand for energy. When the possibility of a double dip recession is being discussed, all our efforts must be given to protect and groom the industries that have acted as a backbone for our national economy, not necessarily only agriculture.
Bangladesh has always had an image management problem. The potential we have as a country has always been underestimated by the outside world -- we are also responsible for that. Substandard management of our country's image cannot be an option. When the world is talking about new ties between Bangladesh and the US, it is the most opportune time to address the key internal issues and place Bangladesh as a nation "ready to deliver" with the "homework" done, at least this time.
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