Establishing rule of law is a must now without delay

 
Bangladesh is regaining its normalcy after suffering a lot. Law and order situation is being restored gradually. The whole Bangladesh resumed its typical appearance as people went about their everyday business. A turbulent situation came up in the country for a few days following the departure of ousted Prime Minister Sheikh Hasina and her party’s downfall on 5 August 2024. Things got back to normal across the nation. Officials and staff from every government, semi-government, and autonomous office in the nation returned to work. All of Bangladesh is now once more connected to 4G internet and broadband. Bangladesh's reputation as a nation that welcomes investment makes it seem like a safe haven for investors everywhere. The business community is throwing its full weight behind the interim government to help it overcome every obstacle. Bangladesh needs more foreign direct investment (FDI) at a time when the country is facing severe economic losses as a result of recent political unrest.

Millions of ordinary citizens across Bangladesh from different walks of life are highly delighted with the drastic regime change that turned everything upside down on 5 August 2024 which ended a fifteen years long period of torment, corruption, tyranny and absolute absence of rule of law.

In order to cover its immediate financial losses, attract more foreign companies, diversify its manufacturing base, facilitate technology transfer, and almost stable political system, Bangladesh is in dire need of foreign investments and business activities. Stabilizing Bangladesh's external images will be priorities as it navigates these economic challenges. Bangladesh still holds a lot of promise for the developing apparel market, which is expanding at a compound annual growth rate. Remittances from overseas and freelancers' earnings from outsourcing could support Bangladesh's economy through the H2 quarter of 2024 and beyond. The number of remittances sent by Bangladeshis residing overseas increased by over 39% annually to $2.2 billion in August, which could somewhat relieve strain on the foreign exchange reserves. The economy can clearly breathe a sigh of relief. This extra remittance will boost our reserves, which will enhance the flow of money across the economy and lead to a rise in investments.

The National Board of Revenue (NBR), Chittagong Port, banking, remittance sector, ICT, and energy supply are among the areas where the timely decisions are being by the Bangladeshi authorities could result in increased foreign investment, increased foreign trade, and stable supply chains. Continuing the normal and daily activities in high-tech parks, economic zones should all help draw in foreign investment. Last but not least, the longstanding malpractice of vengeful politics must be halted forever.