Policy reforms key before LDC graduation
Government policymakers, leading economists, and top business leaders have strongly emphasized that Bangladesh must prioritize energy security, banking sector reforms, and policy continuity to ensure a smooth and sustainable graduation from the Least Developed Country (LDC) category.
They warned that entering the post-LDC global trading environment without executing necessary structural reforms could severely jeopardize industrial growth and export competitiveness.
Addressing the event as the chief guest, Commerce, Industries, and Textiles and Jute Adviser Khandaker Abdul Muqtadir highlighted that while Bangladesh has qualified for LDC graduation, the real challenge lies in making the transition sustainable.
He noted that once the country leaves the LDC bracket, it will face severe market realities, particularly in exports, international commerce, and the pharmaceutical industry.
He emphasized that a significant portion of the country’s industrial sector is currently operating below capacity due to energy shortages. Ensuring an adequate gas supply alone would substantially boost industrial output and overall economic growth, he stated.
He added that the government is actively working to expand LNG infrastructure, stabilize the banking sector, and introduce fully digitalized services for company registration and trade licensing.
Former NBR Chairman Md Abdur Rahman Khan stressed that post-LDC success hinges on good governance, infrastructure development, and political stability.
Meanwhile, BGMEA President Mahmud Hasan Khan stated that the ready-made garment (RMG) sector must now focus on higher value-addition rather than mere export volume.
He urged the expansion of special financing facilities from Bangladesh Bank to support manufacturers.
Presenting the keynote paper, CPD Distinguished Fellow Professor Mustafizur Rahman provided an in-depth analysis of post-LDC challenges, including the loss of preferential tariffs and heightened international competition.
Panelists, including Pran Group Managing Director Ilias Mridha, agreed that long-term national growth will depend on building a business-friendly environment and fostering skilled human capital.
