Economy Cannot Improve Without Strong Industrial Performance: Khosru

Finance Minister Amir Khosru Mahmud Chowdhury on Thursday said Bangladesh cannot build a resilient economy without a strong industrial base, stressing the need to identify and address the challenges hindering the country's industries.

He made the remarks while speaking to reporters after separate meetings with leaders of the Bangladesh Textile Mills Association (BTMA) and the Saudi Arabia-Bangladesh Chamber at the National Board of Revenue (NBR) headquarters in Agargaon, Dhaka.

Khosru said the government would continue engaging with the business community to strengthen the industrial sector, adding that authorities were gradually resolving issues raised by entrepreneurs.

"BTMA has presented several concerns and demands. We resolved some of them during the meeting, while the remaining issues will be considered by the government," he said.

"We want our industries to perform well because a strong economy depends on a thriving industrial sector," the minister added.

He noted that Bangladesh's future economic growth and job creation would largely be driven by industrial development, reaffirming the government's commitment to ongoing dialogue with businesses to address their concerns.

Khosru said the government had already eased regulations in several areas to improve the business environment and was reviewing the remaining obstacles with a view to resolving them in phases.

The minister also highlighted opportunities for cooperation with Saudi Arabia in skill development, business expansion and alternative financing. He said the government was working to diversify the country's financing structure by exploring new funding sources, including potential collaboration with Saudi Arabia.

Asked about the newly announced budget, Khosru avoided offering an assessment, replying with a smile, "You will judge it. How can I?"

On revenue collection, he expressed confidence that the government would meet its target for the current fiscal year.

"Revenue collection will be good, Inshallah. Everyone at the NBR is prepared, and we will achieve the target we have set," he said.

However, the minister declined to comment on the task force recently formed to strengthen revenue collection when questioned by journalists.