Bangladesh has entered into the developing country bloc from the LDC status which will help to further strengthen the country’ economy, Finance Minister AHM Mustafa Kamal said.
“Our strength and position in the economy will fortify, our economy will be further strengthened and consolidated day by day. We’ll be able to think about our next stage from a strong position,” he added.
The government knows very well what kind of challenges it would have to face in the coming days following the LDC graduation, he added.
The finance minister came up with the statement while replying to a question virtually from reporters after leading two separate meetings on the Cabinet Committee on Economic Affairs and the Cabinet Committee on Government Purchase (CCGP).
The Cabinet Committee on Government Purchase (CCGP) on Wednesday approved two separate proposals including one for completing the earth filling works through direct procurement method (DPM) under the project for BSCIC Chemical Industrial Park, Munshiganj (1st revised) under the Ministry of Industries.
The approval came from the 8th meeting of the CCGP held in this year virtually with Finance Minister AHM Mustafa Kamal in the chair.
Briefing reporters after the meeting virtually, Cabinet Division Additional Secretary Dr Sahida Akhter said that Dockyard and Engineering Workshop operated by Bangladesh Navy would conduct the work of earth filling with around Tk 123.63 crore.
The meeting approved another proposal under which Poly Cable Industries Limited would supply 130km 11kv and 33kv underground cable under Lot-5 of package no G-48 of the project for Expansion of distribution network for ensuring cent percent electrification (Dhaka, Mymensingh, Chattogram and Sylhet Divisions) by the Bangladesh Rural Electrification Board (BREB) with around Tk 75.64 crore.
Finance Minister AHM Mustafa Kamal said the country’s graduation from the LDC status would create more opportunities to boost its economy.
“Although there will be no such problem for us after the graduation from the LDC, all countries like us were benefitted from graduation,” he said.
He said Bangladesh would get a lot more than the loss it would incur following the graduation from the LDC status.
He said once upon a time, foreign direct investment (FDI) did not come to Bangladesh to such extent due to fear in making investment, even the business community often suffer while opening big LCs. “But, such problems will go away,” he added.
Kamal said like others, he himself feels proud for the LDC graduation.
“We’ve entered into the developing country bloc from the LDC status while as an individual and also as a nation, we feel proud. It’s a great achievement for all of us,” he added.
