The Executive Chairman of the Bangladesh Investment Development Authority (BIDA), Chowdhury Ashik Mahmud Bin Harun, has emphasised that deep-rooted structural challenges can only be addressed through closer coordination between the government and the private sector.
Speaking on Monday at a high-level event hosted by the Policy Research Institute (PRI), he stated that the country’s long-term progress depends on the state’s ability to execute reforms effectively. The chairman argued that creating a business-friendly environment capable of generating large-scale employment must remain the central focus of national development strategy.
During the conference in Dhaka, the BIDA chief noted that while there is a general consensus among policymakers and business leaders on required reforms, implementation gaps continue to hinder progress.
He highlighted the importance of both foreign and domestic investment, noting that while foreign capital brings technology and productivity, local investment remains the foundation of the industrial sector. Ashik Chowdhury predicted that domestic contributions would continue to form the "lion’s share" of the economy, a trend consistent with many developed nations.
The event, chaired by PRI Chairman Dr Zaidi Sattar, explored the intersections of trade policy, industrial protection, and consumer welfare. Dr Sattar delivered a keynote presentation on how protectionist measures influence domestic industry and consumer choice.
Other contributors included A H M Shafiquzzaman, President of the Consumers Association of Bangladesh, and Md Farid Uddin, a former member of the National Board of Revenue, who provided insights into the fiscal aspects of trade and VAT. Dr M Masrur Reaz of Policy Exchange Bangladesh also contributed to the analysis of the broader policy framework.
Ashik Chowdhury called for an integrated approach to policymaking, citing the Ministry of International Trade and Industry (MITI) model used in other developed economies. However, he cautioned against the direct replication of foreign systems, suggesting that Bangladesh requires locally tailored solutions that reflect its unique administrative structure and economic realities. He argued that trade, industrialisation, and investment policies must operate in close coordination to be effective.
To improve the national investment climate, BIDA has submitted several logic-based deregulation proposals to the National Board of Revenue. These include 46 specific recommendations across multiple sectors, alongside 19 additional measures from investment promotion agencies.
The chairman stressed the need for transparent taxation and uniform protection mechanisms to establish a predictable and fair business environment. He concluded that sustained engagement between all stakeholders remains critical to overcoming structural obstacles and ensuring long-term industrial expansion.
