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Bangladesh premier Sheikh Hasina and her advisor Salman F Rahman to restructure national capital market
As Bangladesh looks forward to Vision 2041, Salman F Rahman could implement various changes for improving the investment and infrastructure quotient

Bangladesh has managed to showcase a combination of a near-constant economic growth rate and future potential in the last decade. According to HSBC, Bangladesh wasn't just the fastest growing economy in Asia at 7.9 per cent rate, but it has further maintained excess of 6 per cent growth rate since 2008. However, the aim of becoming a developed country, better known as Vision 2041, requires the government to analyze deeper issues and come up with feasible solutions.

Aligned with its development vision, the country has been organizing market initiatives, conferences and business conclaves for the economy to prosper. In a recent Local Capital Market Infrastructure Financing Conference in Dhaka, Salman F Rahman, the private industry and investment affairs adviser to PM Sheikh Hasina, said, "Share price movement at the country's capital market within a narrow limit has been acting as a major impediment to the growth of the market as ups and downs in the market are very much natural." In order to overcome this hurdle, it looks like the restructuring of national capital market in alignment with local industries is the next aim of PM Sheikh Hasina and Salman F Rahman.

According to the Export Promotion Bureau's provisional data, the textile industry generated $2.3 billion in revenue during July-April 2018 while a report from LR Global, an asset management firm, shows a 30 fold growth of pharmaceutical sector in 20 years. Factoring in the soaring industrial growth, broad industrial investment could be replaced with dedicated investment in the established and emerging industries of the country.

Newfangled investment practices such as crowdfunding combined with foreign investments would be instrumental in diversifying exports as well as improving industrial infrastructure. Such long term investments would lay down an organized structure that will push the local businesses and improve their contribution in the economic growth. In addition, this can serve as a catalyst in the government's efforts of empowering entrepreneurship.

Along with this, Salman F Rahman and the policy makers could further improve the long-term investments with an improved Public Private Partnership (PPP) structure. Leading Bangladeshi companies of various industries working in collaboration with the government would help in better utilization of foreign investments, improving productivity, and promoting innovation. Salman n F Rahman also is a parliament member and owner of the country's largest business conglomerate Beximco Group.  

That said, restructuring the capital market of Bangladesh is a gradual process. But, the increasing pace of industrial growth in Bangladesh and step by step reforms from the government are certain to accelerate the country's progress rate towards inclusive national development.

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