New york: Chief Adviser Professor Muhammad Yunus today said that Bangladesh has embarked on historic reforms aimed at stabilizing its economy, ensuring financial transparency, and empowering its youth while calling for safe migration and fair access to technology for developing countries.
According to Bangladesh Sangbad Sangstha, Professor Yunus addressed the United Nations General Assembly (UNGA) highlighting the introduction of a market-based exchange rate and significant reforms in the banking sector, including asset quality reviews, a new Bank Resolution Ordinance, and an upcoming Deposit Protection Ordinance. He emphasized the modernization of capital market oversight through a reform task force and a strengthened investigative system, along with mandatory e-tendering in public procurement to enhance accountability.
Bangladesh is also striving to create an investment-friendly environment by implementing a Single Window system to link 19 agencies and simplify customs procedures. Specialized commercial c
ourts have been established to expedite dispute resolution, and the Investment Development Authority has formed a coordination committee to streamline one-stop services, bringing regulators together to ease visa and work permit processes. The introduction of an FDI Heatmap and a National Semiconductor Task Force offers transparent information on high-potential sectors.
Professor Yunus noted significant improvements in trade logistics, with container handling at Chattogram Port growing by 27.6 percent in August, reflecting enhanced efficiency. These initiatives aim to strengthen economic governance and pave the way for sustainable and inclusive growth in Bangladesh.
The Chief Adviser praised the substantial contributions of migrant workers to Bangladesh’s economy through remittances and called for receiving countries to ensure protection and empathy for these workers. He urged for safe, orderly, and regular migration, aligning with labor rights reforms and the signing of the Charter of the OIC Labor Center.
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ighlighting the youth demographic, with over 60 percent of Bangladesh’s population under 35, Professor Yunus emphasized the mutual benefits of opening migration pathways. He stressed the importance of investing in the skills of young people in areas like information technology, artificial intelligence, renewable energy, and green innovation, aiming to transform them into job creators.
Marking the 30th anniversary of the World Programme of Action for Youth, Professor Yunus addressed the challenges facing young people today and the importance of preparing for future crises. He expressed concern over the digital divide and the need for equitable sharing of technological advancements such as quantum computing and artificial intelligence.
The Chief Adviser concluded by stressing the importance of social innovation alongside technological advancements. He cited Bangladesh’s pioneering role in microcredit and the global spread of social business as means to address significant challenges such as poverty, unemploym
ent, and environmental degradation, by reinvesting profits for social good and harnessing the entrepreneurial spirit for societal welfare.