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Prime Minister Tarique Rahman on Saturday called for closer collaboration between the government and the private sector, expressing confidence that Bangladesh’s economy could undergo a significant transformation within the next four to five years if both sides work together to address existing challenges.
Speaking at an interactive session with business leaders at the Prime Minister’s Office in Tejgaon, the Prime Minister said sustained dialogue and joint efforts would be key to overcoming economic constraints, attracting investment and accelerating industrial growth.
“There are problems in some areas, but if we work together, we can overcome them,” Tarique Rahman said during the nearly four-hour meeting organised by the Bangladesh Investment Development Authority (BIDA).
According to the Prime Minister’s Deputy Press Secretary Hasan Shiplu, the discussions focused on expanding business opportunities, increasing foreign direct investment (FDI) and creating a more business-friendly environment to support industrialisation.
The Prime Minister said the government’s foremost priority is to serve the country’s interests and improve people’s livelihoods, adding that many of the challenges confronting the economy can be resolved through constructive engagement with the private sector.
“We all acknowledge that there are many problems. The government has at least demonstrated that it is trying,” he said.
Noting that the government has been in office for less than six months, Tarique Rahman said it has already held several rounds of consultations with business leaders to identify sector-specific problems and develop practical solutions.
He said many of the issues raised during previous meetings had already been addressed, while the concerns presented at Saturday’s consultation would also receive prompt attention.
“The more we sit together, the better we will understand your problems and the easier it will be to resolve them,” he said, announcing that another meeting with business leaders would be held within the next two to three months.
The Prime Minister stressed that maintaining regular dialogue between policymakers and entrepreneurs is essential for strengthening investor confidence, removing regulatory bottlenecks and ensuring sustainable economic growth.
Business leaders attending the meeting called for easier access to bank credit, greater policy consistency and a more investment-friendly business climate to encourage domestic and foreign investment. They also welcomed a number of recent government initiatives and expressed satisfaction with progress made in addressing some longstanding concerns.
Officials informed the meeting that of the 28 issues identified during the previous consultation between the government and the private sector, decisions had already been taken on 21, while work on the remaining seven is continuing.
The business community also presented a roadmap aimed at increasing Bangladesh’s annual export earnings to US$100 billion by 2030, emphasising the need for diversified export markets, improved logistics, enhanced competitiveness and stronger trade diplomacy.
In response, the Prime Minister assured business leaders that the government would extend diplomatic support to help expand Bangladesh’s export destinations and facilitate greater market access abroad.
Bangladesh has been seeking to boost exports beyond the ready-made garment sector by promoting pharmaceuticals, leather goods, information technology, agro-processing, light engineering and other value-added industries as part of its broader economic diversification strategy.
The meeting was attended, among others, by Finance and Planning Minister Amir Khosru Mahmud Chowdhury, Home Minister Salahuddin Ahmed, Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku, Commerce, Industries, Textiles and Jute Minister Khandaker Abdul Muqtadir, Road Transport, Bridges, Railways and Shipping Minister Sheikh Robiul Alam, the Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir, BIDA Executive Chairman Ashik Chowdhury and Bangladesh Bank Governor Mostakur Rahman.