Dhaka: Executive Chairman of the Bangladesh Investment Development Authority (BIDA), Chowdhury Ashik Mahmud Bin Harun, emphasized the urgent need for Bangladesh to rapidly implement reforms to attract higher levels of investment and maintain global competitiveness. “If we have been running in second gear so far, we actually have to drive a car in fifth gear now; otherwise, it will never be possible for us to bring in global investment by competing with our rival nations,” Ashik stated.
According to Bangladesh Sangbad Sangstha, the BIDA chief made these remarks during the launch of the UNCTAD Investment Policy Review (IPR) Implementation Report for Bangladesh, held at the BIDA building in the city. Ashik Chowdhury stressed the importance of stronger execution and quicker actions, noting that many competing countries are advancing at a faster pace, making it challenging for Bangladesh to catch up.
Ashik highlighted a significant challenge where the country frequently develops plans and produces reports but often fails to implement the agreed recommendations. “We make many plans, speak a lot, and many beautiful reports are released. But after agreeing, it is seen that we do not actually implement what is said in those reports,” he remarked.
Addressing ongoing global uncertainties, including instability in trade due to the Middle East conflict, he mentioned that the international environment remains fragile. In this context, stability is crucial to sustain both domestic and foreign investment. The BIDA chief stated that Bangladesh must protect existing investments, ensure adequate support for investors, and create new opportunities to attract fresh inflows.
Ashik Chowdhury called for a second phase of reforms, emphasizing goal-oriented planning, effective implementation, and coordinated initiatives among stakeholders. He also urged for ambitious short-term targets, aiming to achieve within the next two to three years progress comparable to that made over the past five years. The program also featured speeches by BIDA Executive Member Nahian Rahman Rochi and Deputy Resident Representative of the United Nations Development Programme (UNDP), Sonali Dayaratne.