The government has set a target of increasing the creative economy’s contribution to Bangladesh’s gross domestic product (GDP) to 1.5 per cent, identifying the sector as an emerging source of jobs, export earnings and long-term economic diversification, said Finance Minister Amir Khosru Mahmud Chowdhury.
He said the country must invest more in culture, arts, entertainment, design and related creative fields to unlock their full economic potential. He made the remarks while speaking at an economic diplomacy conference titled “Roadmap for Trade, Growth and Economic Diplomacy,” jointly organised by the Ministry of Foreign Affairs and the Bangladesh Investment Development Authority (BIDA) in Dhaka.
Citing international comparisons, the minister noted that countries such as the United Kingdom have developed strong creative industries that contribute significantly to both economic output and global soft power. He also referred to UNCTAD estimates showing that the global creative economy accounts for around 3 per cent of world GDP, while India’s share stands at approximately 1.5 per cent.
According to the minister, Bangladesh has abundant creative talent but has not yet fully developed systems to protect, promote and commercialise it. He said the government plans a 10-year investment strategy alongside time-bound action plans aimed at generating around 5 lakh new jobs in the sector.
Plans under consideration include the development of a dedicated “theatre district” on 150 acres of land to promote cultural activity and expand economic opportunities linked to the creative industries. The policy framework also focuses on supporting artisans, designers, performers and cottage industry entrepreneurs through financing, skills development, branding support and access to digital marketplaces.
Officials present at the conference said the broader economic strategy also includes deregulation, tax reforms, improved investment conditions and efforts to expand the tax base without increasing pressure on existing taxpayers. They stressed that boosting efficiency in public finance and encouraging capital market financing would be essential for sustaining long-term growth.
Senior government officials and private sector representatives attending the event said execution of these plans would be key to translating policy ambitions into measurable economic outcomes.
