The two-day long Bangladesh Development Forum (BDF) 2020 ended in the capital on Thursday with a call for effective partnership between the government and development partners for implementing the 8th five year and long-term sustainable development plan of the country.
During the forum organised by the Economic Relations Division (ERD), the government shared the broader strategies of the upcoming 8th Five Year Plan with the development partners and other major development actors.
The forum ended with a number of recommendations, including developing a BDF 2020 outcome document based on mutual accountability that sets shared objectives and targets, agreed actions of the outcome document will be followed up through the Local Consultative Group (LCG) Government-DP Plenary and the 8th Five-Year Plan will guide the discussion on the LCG Working Group reform.
The government ministries also presented their mid and long-term development plans in various priority areas like quality education, inclusive healthcare, innovative financing, rural transformation, sustainable urbanisation, climate financing, private sector engagement and trade facilitation.
Sharing the outcomes of the BDF 2020 at the closing ceremony at the Bangabandhu International Conference Centre (BICC), Finance Minister AHM Mustafa Kamal said the government held this BDF at a time when the 7th Five Year Plan is going to end this year while the next 8th Five Year Plan will be formulated.
“The suggestions from this BDF will definitely be helpful for formulating the next 8th Five Year Plan,” he said, adding that this plan will be completely aligned with the Sustainable Development Goals (SDGs).
He said a paper would be published within a month based on the outcomes of the forum. Foreign Minister Dr AK Abdul Momen, Prime Minister’s Economic Affairs Adviser Dr Mashiur Rahman, ERD Secretary Monowar Ahmed and UN Resident Coordinator and LCG Co Chair Mia Seppo spoke at the closing ceremony.
Later on, they gave answers to the queries of the journalists at a press conference. Like the MDGs, Bangladesh would be able to deliver the SDGs before many countries of the world, Kamal said, adding following the path of 2030 development agenda, Bangladesh is poised to become a developed country by 2041.
Referring to the concerns of the development partners to some extent over
the country’s less private investment and over the low tax-GDP ratio, he said
the government from the next year would keep an estimation as to what extent
it gives various types of exemptions to the industries and businesses like
tax holidays and other benefits.
“If these are taken into account, then you can see that the tax-GDP ratio
will be very much comparable to other countries of the world
………..through effective enforcement, we’ll be in a better position to
deliver according to our desired objectives,” he added.
Referring to the draft 8th Five Year Plan, the Finance Minister said the
plan projected to raise the GDP growth to 8.51 percent in FY25 from 8.23
percent in FY20 while the poverty rate is expected to come down at 12.1
percent in FY25 as well as the extreme poverty rate at 5.28 percent.
Besides, he said the plan eyes on generating some 10.5 million employments
both at home and abroad while efforts will be there to raise the tax-GDP
ratio to 15 percent.
Answering to a question, Kamal said Bangladesh is an ideal place for making
investment while the country has never been a defaulter while repaying its
debt.
Replying to another question, he said the government has no apprehension
right at the moment about the implementation progress of the Chinese funded
projects.
