International Chamber of Commerce Bangladesh (ICCB) is greatly concerned about the loss made by micro, small and medium enterprises (MSMEs) during the covid pandemic. The organization assumed that about 96 per cent of MSMEs haven’t performed up to the mark.
ICCB President Mahbubur Rahman said that not everyone had benefited equally from Bangladesh’s outstanding economic growth and development as the inequality of wealth, income and lifestyle of the people. The greatest challenge for Bangladesh is the manner by which BD guarantees that the products of development and improvement will contact individuals at the lower part of the development pyramid.
It referred to World Bank’s most recent report that distinguished Bangladesh’s more extended term underlying difficulties to speed up the post-Covid-19 recuperation. Change needs to incorporate an enhancement of fares past the RMG area, extending the financial, further developing urbanization, and reinforcing public administration, ICCB stated. The World Bank’s observations are very crucial for Bangladesh to ensure sustainable development, poverty reduction and ensuring health care for all.
Vaccine production nations are hesitant to permit creation of antibodies in different nations, it lamented, referencing the drive of ICC Paris to put forth for the G-7 nations to make immunizations accessible liberated from cost to the helpless nations of Asia and Africa. Different global organizations estimated that losses caused by educational institutions closures would result in an average of $180 or a 2.4% decline in expected annual earnings. The present value of these future earning losses adds up to an estimated $1.25 trillion for developing Asia, equivalent to 5.4% of the region’s GDP in 2020.
However, Bangladesh, which weathered the pandemic better than most economies in the sub-region, will continue to grow strongly as exports pick up,”- said ICCB Executive Board report.
Source: The Business Standard