Bangladesh’s government and leading entrepreneurs have pledged to follow the “Vietnam model” as a template for widening the nation’s export portfolio and spurring outward trade growth.
High‑level meeting sets agenda
The decision emerged from a four‑hour interactive session at the Prime Minister’s Office in Tejgaon on Saturday, where Prime Minister Tarique Rahman met with senior business figures. Organized by the Bangladesh Investment Development Authority, the gathering focused on export diversification, trade facilitation, and the ongoing industrial power crunch.
Rahman said joint public‑private action could reshape the economy within four to five years. “We all acknowledge that there are many problems, but if we work together, we can overcome them,” he told participants. He also announced that follow‑up dialogues would occur every two to three months to track progress.
Officials confirmed that out of 28 issues raised in a prior consultation, decisions have already been taken on 21, with implementation underway for the remaining seven.
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Key policy measures announced
Among the initiatives, the government plans to introduce 24‑hour operations at Chattogram Port and Dhaka airport, aiming to reduce bottlenecks in cargo handling. It also intends to create internationally accredited testing laboratories through public‑private partnerships, offering land to private investors while they fund and manage the facilities.
Business leaders called for easier credit access, more supportive policies, and a friendlier environment for investment and industrial growth. They praised recent steps taken by authorities, noting that the current climate is increasingly investment‑friendly.
One participant, speaking on condition of anonymity, said the discussions centered on export opportunities rather than company‑specific concerns. “No participant raised any individual business concerns. We discussed export opportunities and challenges under the ten agenda items prepared by the Prime Minister’s Office,” the source explained.
Energy shortages and tariff barriers were highlighted as persistent obstacles. The Prime Minister reportedly instructed relevant ministries to address these points promptly, and officials assured swift follow‑up.
Another attendee noted that Chattogram Port would soon shift to round‑the‑clock operations, fulfilling a long‑standing exporter demand. The lack of internationally recognized testing facilities was also flagged as a major export hurdle.
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The shift could mean faster clearance for raw materials, reduced waiting times for finished goods, and more reliable power supply for factories.
The plan targets faster trade.
International interest appears to be growing. A delegation of 45 executives from 25 leading U.S. companies is slated to visit Bangladesh by the end of next week to explore business opportunities.
The meeting also tackled the country’s energy dilemma, with one anonymous business leader describing it as the “most pressing challenge facing all industries.” He said the request that participants avoid company‑specific issues allowed a broader view of macroeconomic hurdles.
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Officials outlined steps already taken to ease the power crisis and solicited recommendations for further renewable‑energy policies. The dialogue also included suggestions on priority sectors to help Bangladesh reach a US$100 billion export target by 2030.
According to the discussion, ten non‑RMG sectors have been identified, each with an export goal of US$3 billion, using Vietnam’s current position as a benchmark for export‑led industrial development.
Participants agreed to accelerate customs procedures, improve the bonded‑warehouse system, and speed up cargo clearance for both inputs and outputs. Faster processing of registrations and approvals, including those by BIDA, was also committed to enhance the ease of doing business.
Finance and Planning Minister Amir Khosru Mahmud Chowdhury, Home Minister Salahuddin Ahmed, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood Tuku, Commerce, Industries, Textiles and Jute Minister Khandaker Abdul Muqtadir, Road Transport, Bridges, Railways and Shipping Minister Sheikh Robiul Alam, Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir, BIDA Executive Chairman Ashik Chowdhury, Bangladesh Bank Governor Mostakur Rahman and other senior officials attended the meeting.
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