Although people in Bangladesh stumbled at the beginning of the epidemic, they have now overcome it. However, there are many challenges ahead. Nevertheless, people are hopeful that the country’s entrepreneurs will face these challenges and move forward in the new year. Indeed, 2022 will be a wake-up call for entrepreneurs.
The biggest challenge during the epidemic was to keep the supply chain in order. This supply system was almost disrupted due to various domestic and foreign measures taken at the beginning to prevent the epidemic. They have had to wait a long time to procure industrial raw materials and consumer goods from abroad, so they have had to spend extra money on rent. The import price of goods has also increased. And at the end of the year, the dollar exchange rate has to face the challenge of rising. Nevertheless, entrepreneurs did not stop even after stumbling in various ways due to the global crisis.
Compared to the global situation, the epidemic wave came to Bangladesh later. The same is happening with the new variant of the coronavirus, Omicron. In other words, they are getting the opportunity to take adequate measures.
Entrepreneurs of this country are constantly moving forward by facing challenges. There should not be too many problems if adequate measures are taken even if new epidemics spread. For the supply system to be in order, it is necessary to prepare in advance. Where infrastructure capacity needs to be enhanced, urgent steps need to be taken to implement it. In other words, the highest priority should be given to the infrastructure sector.
Abul Bashar Chowdhury, chairman of BuilderSmart (Public) Co. Ltd., said, “we will be able to move forward if the port’s capacity gets expanded and the projects under the public-private partnership completed fast because spending more time on big projects means increasing costs.”
Additionally, entrepreneurs in Bangladesh only need government-friendly policy support. The government has taken necessary precautions for the entrepreneurs to move forward at the beginning of the epidemic. In addition to continuing that policy support, they need to speed up doing business efficiently. Then the private sector will take the country forward. Simply put, bureaucratic complexity needs to be reduced to speed up the implementation of public-private infrastructure. Mr. Bashar believes that this country’s entrepreneurs will move forward by overcoming adversity. Corona’s first year was a stumbling block for entrepreneurs. However, last year was a turning point. The new year will be a year of rising entrepreneurs. That is what Mr. Abul Bashar can hope in the new year.
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