In the speech given to the nation on Victory Day. The announcement of Muhammad Yunus answered a long-standing question of the people of the country – how long this government will remain in power. According to his timeline, a national election will be held in late 2025 or mid-2026 and a new political government will be established. However, how political parties will assess this time frame is a different matter; However, the announcement provided a clear indication of stability over the political uncertainty. As a result, the country's economy and business have been given new hope. Businessmen and investors feel that the announced deadline will create a reliable framework, which will help the country's long-term development. The announcement will bring clarity and stability to the political and economic environment, which will instill confidence in investors and give fresh impetus to business activities in the days ahead.
When asked about this, former president of Dhaka Chamber Ashraf Ahmed told Ajker newspaper that it has become difficult to create necessary investment and employment amid the current law and order situation, macroeconomic challenges and energy crisis. He said, 'We also have major industrial challenges, which require a stable and secure environment to achieve positive results. A clear political direction and timeline will help stabilize the country's economy.'
Mohiuddin Rubel, the former director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) told Ajker newspaper, 'There was a kind of uncertainty for so long – how long this government will be able to carry out the activities, the question was in the minds of many. This dilemma created a lack of enthusiasm among investors. That doubt is gone. Now there is a new direction with the announcement of clear timelines, which will create room for investor confidence. This confidence will bring back more vibrancy to the country's economy along with new investment opportunities.
Private research institute Center for Policy Dialogue (CPD) special fellow and senior economist Dr. Mostafizur Rahman said, 'This is not a roadmap, but a specific timeline; Which will give relief to the people of the country and reduce uncertainty. The interim government will continue its reform program for a year, which will have a positive impact on the people of the country and will have a clear reflection in the market.
Former senior vice president of BGMEA, Abdullah Hill Rakib, said the announcement of the chief adviser is particularly important for companies doing business in the international market. Because, buyers often want information about political stability. This declaration demonstrates commitment to a democratic process, which will help build trust among international partners.'
DSE Brokers Association President Saiful Islam said, 'The announced reforms and election timeline will help investors plan and act with confidence. Foreign investors, especially Westerners mostly, need a democratic environment to invest in the stock market. A country led by an unelected government is not appealing to them at all. Now the situation will change.'
Meanwhile, Syed Mahbubur Rahman, managing director of Mutual Trust Bank, feels that the announcement of the possible election period will have some impact on the banking sector as well. He said, we can see a progress in the recovery of defaulted loans and re-scheduled loan figures. Many may need debt consolidation to run for office. As a result, there is a possibility of recovery of some defaulted loans.
A national plan is needed now
The expectations of the business community are that whichever political government comes in, who will create a healthy and stable environment. However, they also feel that the interim government is taking a good initiative in improving the business environment and implementing necessary reforms. It is necessary. It is important to maintain the continuity of the political government. For this a clear national goal should be set about the business and economy of the country before the political government comes. The country needs a permanent national policy, following which it will be possible to take the country's economy to a higher level of development. Whichever party wins the election, the principles and goals should not change. Even if the new government comes, everyone should work together to develop the country's economy by maintaining the previous policies.
Reforms also need continuity
Many traders are seeing the new business decisions taken by the interim government as quite positive. They say many places have already started to change, which is good for business. If these reforms continue, the trade will be stronger in future.
Haji Enayetullah, the former director of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex organization of businessmen, told Ajker newspaper that now an environment has been created for them to do business independently in the country. Along with the dollar exchange rate, the problem of opening LCs has started to decrease. This government could have done more reforms with more time. But since the political parties are in favor of early elections, political stability is expected to come after this announcement. However, whichever government takes over, it is important to ensure that the reform process continues. Business and politics should not mix into each other and development should continue at a normal pace in every field.
