& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Improving the investment climate in Bangladesh through the BBBF
BANGLADESH, at the beginning of the twenty first century, is poised to attain the status of a "Middle-Income nation. The country's tenacity in the face of recurring natural calamities and political disturbances can be gauged in a small measure by a stable economic growth rate of 5.5% over the last decade or so. This had prompted Goldman Sachs to include Bangladesh within the Nil" in its December 2005 report A resilient and innovative entrepreneurial class has played a catalytic role in transforming Bangladesh's image to that of an attractive investment destination. Ihe private sector has greatly contributed in creating new jobs and income generating opportunities, which has allow ed the economy to cope well within the framework of Globalization and increased competition.
This has resulted in a seismic paradigm shift amongst the policymakers of Bangladesh There is growing realization of the fact that Public-Private SMART partnerships are the way to move forward in order to create a dynamic and vibrant economy. The onus has shifted from excessive control and regulation to greater facilitation measures to support the private sector Inputs from the private sector are being increasingly integrated within the decision making process. Bangladesh is not alone in this regard. Neighbouring countries like India, Vietnam and Cambodia have all initiated public-private partnership pro urams This has resulted in fruitful collab- oration between the public and private sector in the development of infrastructure. tourism, energy, as well as making the small and medium enterprises (SMEs) more viable. The efforts to promote greater public-private partnership have led to a marked improvement in export competitiveness and the overall business climate in recent months. The visible improvement in the efficiency of Chittagong port is a case in point.
On 5th September, 2007, the Chief Adviser, Dr. Fakhruddin Ahmed announced the launching of the Bangladesh Better Business Forum (BBBF) and the need to improve the regulatory environment in die country; this led to the establishment of the Regulatory Reforms Commission (RRC).This heralded a new dawn in the realm of Public-Private partnerships in Bangladesh. Ihe BBBF aims to bring about a perceptible improvement in the business climate of the country through increased interaction between the two sectors The RRC, it was envisaged, would complement the BBBF initiative by simplifying bureaucratic rules and regulations which would enable smoother functioning of the private sector Through interaction and interchange of ideas, key problems that plague the private sector and the economy were identified and the best possible solutions were formulated. These recommendations were then approved in die BBBF meetings chaired by the Chief Adviser and then necessary measures were taken
to implement die recommendations.
These institutions represent a bold new’ beginning in the arena of public private partnership in Bangladesh. 1 lowever, there is no room for complacency, as a lot remains to be done. First and foremost, there is a need for constant monitoring and evaluation of die BBBF recommendations so as to ensure that there Is no gap between policy approval and actual implementation.
The government must take effective steps to revamp and restructure key gov-ernment agencies like the Board of Investment (Bol), die Bangladesh Export Processing Zone Authority (BEPZA), the Export Promotion Bureau and many other government ministries and agencies. Emphasis must be placed on the need for capacity building and training of government officials and civil servants This will assist in ensuring that implementation of recommendations proceeds smoothly.
Greater public private partnership is also the key to solving the abysmal state of infrastructure in this country. Vietnam has made rapid strides in infrastructure development in close concert with the local private sector and supported by FDI and foreign assistance, in particular from the multilateral institutions, like the World Bank, ADB and IFC.
The government should also give the highest priority to taking immediate-action to tackle the grave energy crisis that Ls currently confronting Bangladesh. I 'tili/ation of our gas and coal reserves is
the only way forward. Hopefolly the BBBF, both now’ and in the future, will play a key role in educating the public and giving the government the necessary’ political will to move forward as expeditiously as possible to develop our coal resources. Of course the people directly in the coal rich areas should be adequately compensated, so they get a share of the profits. Equally important is for the government to ensure that all the necessary measures are taken to protect the environment in line with the latest developments in other parts of the world
Most important of all, the timely initiatives of the BBBF and the RRC need to be continued anil institutionalised. The private sector had long demanded a voice in the policy making apparatus of the state, and this wish has been granted. They now need to assume ownership of this important initiative. Irrespective of the outcome of the forthcoming elections, the ongoing momentum of this public-private partnership initiative needs to be sustained. Only then can Bangladesh materialize its lon^ cherished dream of becoming a prosperous country, free from the endemic curse of poverty and deprivation. Bangladesh has a great and bright future, but what we need to make the future come true is for the government, civil society and the private sector to forge a close partnership, in order to fulfill our potential.
Farooq Sobhan
President, Bangladesh Enterprise Institute