The Dhaka Chamber of Commerce and Industry (DCCI) underscored the need for developing the bond market as it can be a sustainable solution to infrastructure development and reducing long-term financing needs.
The DCCI came up with the emphasis when its delegation, led by DCCI President Shams Mahmud, called on Planning Minister MA Mannan at his office today, said a DCCI press release.
During the discussion, Mahmud said as per the Global Infrastructure Hub report, Bangladesh needs to invest USD608 billion till 2040 in water, energy, telecom, port, airport, rail and road infrastructures.
Mahmud said Bangladesh needs alternative funding sources to secure infrastructure development and reduce dependence on public fund, development partners and banking sector. “Development of bond market can be a sustainable solution to infrastructure development and reducing long-term financing need,” he said.
The DCCI President said LNG is the short-term solution to the energy need. But, for long-term energy security and fuel accelerated economic growth, he urged for diverse fuel mix and local coal exploration to ensure the need for the next 50 years.
“Development of Payra sea-port will create second maritime lifeline of Bangladesh connecting sub-regional economies and will reduce maritime transportation cost. Moreover, modernization and capacity building of land ports will ease trade with regional economies,” he added.
Mahmud also requested to include investment for skills development, blue economy, investment in innovation and research for climate change, sustainable urbanization, 4IR technology adoption and investment and financing sources for large infrastructure development in the 8th Five Year Plan.
Mannan said the government has already enhanced the capacity of Mongla Sea Port and urged the business community to use the port efficiently.