REFAYET ULLAH MIRDHA

Peace and harmony are very much needed in Bangladesh for it to overcome the severe fallouts of Covid-19, the ongoing Russia-Ukraine war and crisis in the Middle East, according to the Metropolitan Chamber of Commerce and Industry (MCCI).

This is because Bangladesh has the opportunity to benefit from changes in the global supply chain, with many countries reducing their dependence on China for sourcing industrial raw materials.

“They think depending on a single source is risky for business,” MCCI President Md Saiful Islam told The Daily Star over phone.

Most countries have been facing challenges in business due to economic friction resulting from disruptions to the global supply chain.

But even in such tough times, Bangladesh has a silver lining as the country already proved to be a major manufacturing hub for other countries, especially when it comes to the apparel industry.

So, despite the volatile global economic downturn, 66 percent of Japanese companies in Bangladesh expressed interest in expanding their local operations.