Open market policies are good for attracting more investment
Open market policies are required for attracting more investment. The case in no different for Bangladesh. The World Trade Organization (WTO) initiative on Aid for Trade operates with OECD support and is working to ensure that developing countries are able to realize the benefits of market openness by building their capacity to trade.
Illuminating the economic arena of Bangladesh, the national trade forum is trying to recover the recent loss and is progressing at an impressive rate. Considering the current flow in business, the central bank, Bangladesh Bank is initiating creation of new policies. Centering round this action, a variety of discussions has originated. Among them, one of the most mentioned motion is “Can open market policy assist in expanding the sphere of investment”. Being an interesting theme of discussion, this promises an analysis of the future in the business sector. While most agree that the open market policies can boost the local and foreign investment, others claim it to be risky and insecure.
Amazed by the new market system, the specialists define this open market as an economic system with no barriers to free market activity. An open market is characterized by the absence of tariffs, taxes, licensing requirements, subsidies, unionization and any other regulations or practices that interfere with the natural functioning of the free market. Putting up outstanding logic, the ones who are in favor of open market policies make their stance prominent.
First of all, enabling all the populace to take part, the open market policy encourages more entrepreneurs to set up investments. Veraciously, in contrast to the heap of regulations and extensive paperwork, if the economic policies are made lenient then local businessman can be motivated to invest and expand their business and contribute to the overall economy.
In addition, the open market policy decorates the conduit for initiating foreign investment. Being in a state of global economic crisis, it is crucially significant to invite foreign investments. Creating an investment friendly environment, open market policies can play a great role in foreign investment expansion.
On the other side, the conservative specialists giving the example of current American recession opined that it is quite a risky action to be proposed. Somehow, they believe that it can go wrong on so many levels. For instance, taking the advantage of liberal paper works and license, companies like Hallmark and destiny can set up scams. Following it, the chance of deceit and scams can increase to a maximum. In addition, the decrease in taxation sectors and tariff reduction is likely to hamper the government funds provided that the business world incurs loss. However, they all agree that if things go well, the open market policies have a great chance in providing an enhanced platform for investment.
Universally, it is believed that every relationship is a “give and take” one. Being farsighted, if the government takes the risks and make open market policies now, the public will be contempt and thus show allegiance and respect to government initiatives. As a result, the increase in investment and the boost in economy will occur in the coming years. Most likely, the public will be making investments it will yield a great profit in the near future.