Staff Correspondent

The Metropolitan Chamber of Commerce and Industry (MCCI) has observed that smooth logistics, banking services and security in industries are the major issues needed to be addressed for revival of
economic activities.

In its review of economic situation in Bangladesh report for the April-June quarter, MCCI mentioned that the trade body also stressed the need for overcoming the other economic challenges that include inflation, slowdown in external demand, weak remittance inflow, shortfall in revenue collection and the slow public expenditure, depreciation of taka and also a decline in foreign exchange reserves.

Unemployment and low investment are other challenges, the chamber added. To overcome the challenges, the government took some decisive measures to address the economic fallout, it added.

The government also needs to take more actions to stabilise foreign exchange reserves, manage inflation, enhance revenue earnings, ensure proper electricity and gas supply for economic activities, and protect small businesses, said the MCCI.

During the April-June quarter, the Bangladesh economy has been showing some signs of improvement with increase of foreign exchange reserves and remittances in June 2024.

After the recent protests by the Anti-discrimination Student Movement led to the ouster of the Awami League government earlier this month, and the interim government just taking over, it would take time to normalise business activities, said the MCCI.