Dhaka: Economists and business leaders today underscored the importance of stable and predictable policies, saying ongoing reforms and improved policy direction could significantly enhance investment, industrial expansion, and job creation in the country.
According to Bangladesh Sangbad Sangstha, the insights were shared during a seminar jointly organised by the Policy Research Institute (PRI) and the World Bank titled 'Bangladesh Development Update: Special Focus - A Business Environment that Delivers Jobs' held at PRI's conference room in the capital.
Delivering the keynote presentation, World Bank Senior Economist Dr. Dhruv Sharma highlighted Bangladesh's strong economic potential, emphasizing that a more predictable policy environment would unlock greater domestic and foreign investment. He noted that the political uncertainty surrounding the national election had eased following the polls held earlier this year, positively impacting the investment climate.
Sharma mentioned that the government's upcoming five-year strategic framework and the national budget were expected to provide clearer policy guidance, strengthening investor confidence in the coming years. He also stressed the need for continued reforms to address challenges related to the cost of capital, taxation, transparency, and infrastructure, including power, electricity, water, and supply chain management.
According to the World Bank findings, improving the business environment through smart deregulation, a level playing field, enhanced private sector participation, and stronger productivity among small and medium enterprises (SMEs) could accelerate employment generation and sustainable growth.
Executive Director of the Foreign Investors' Chamber of Commerce and Industry, T. I. M. Nurul Kabir, highlighted Bangladesh's attraction for global investors due to its long-term growth prospects, expanding consumer market, and strategic economic position. He stressed that consistent long-term policies would further boost investor confidence and encourage multinational companies to expand operations in Bangladesh. 'When investors get clear policy direction for the long term, confidence increases significantly,' he added.
PRI Chairman Zaidi Sattar underscored the opportunity for Bangladesh to align economic reforms with employment-focused growth strategies to ensure inclusive development. Executive Director of the Centre for Policy Dialogue (CPD), Fahmida Khatun, emphasized the importance of institutional reforms, policy continuity, and economic resilience to support private sector-led growth.
PRI Principal Economist Ashikur Rahman highlighted the role of research-driven policymaking in creating sustainable employment opportunities and improving productivity across industries.
Addressing the seminar as chief guest, Mahmud Hasan Khan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), remarked on the significant role of export-oriented industries, particularly the garment sector, in generating employment and driving economic growth. He expressed optimism that continued collaboration between the government, private sector, and development partners would help create a more competitive business environment, supporting Bangladesh's journey toward higher economic growth and employment generation.