Dhaka, Feb 12 (IANS) Large and small entrepreneurs are grappling with mounting financial pressure as rising interest rates continue to drive borrowing costs in Bangladesh.
Uncertainty looms over the uninterrupted gas supply which is crucial for manufacturing, United News of Bangladesh reported on Wednesday.
Several small and large entrepreneurs claimed that law enforcement agencies, especially the Bangladesh police, must play a vital role at the field level, particularly where roads are blocked, and labour unrest erupts based on rumours or minor issues.
Abdul Awal Mintoo, former President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), told UNB that “Domestic and international trade will expand when a political government assumes state power. The international business community seeks strong commitments from the government for investment, which a political government can provide”.
The economy of Bangladesh is facing severe challenges amidst the huge unrest in the country since August 2024. The business sector in the country is facing a huge liquidity crunch with numerous commercial and industrial establishments shutting down. The entrepreneurs in Bangladesh are facing difficulties in importing raw materials to sustain their business.
There is also a growing security concern in the business community of the country which has urged the interim government to provide a safe and secure environment to all industries, including the readymade garments sector, the main exporter of Bangladesh. There have been several incidents of brutal attacks on businessmen by miscreants in the recent months.
The political turmoil in Bangladesh has also hugely impacted international trade and prompted global retailers to look for alternative partners.
In South Asia, both Bangladesh and India are considered the largest trade partners engaging in a wide exchange of goods and services. The continued instability in Bangladesh has drastically affected the trade between both nations. Experts reckon that economic instability in Bangladesh looms large unless a secure environment is provided to entrepreneurs, industries, and other business establishments.
–IANS
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