The Bangladesh Investment Development Authority (BIDA) and the United Nations Development Programme (UNDP) collaborated to host a workshop on 20 November 2024 at the Radisson Blu Water Garden Hotel in Dhaka titled “Investment Diversification for Priority Sectors Post-LDC Graduation.” The event shared insights from a groundbreaking study conducted by the South Asian Network on Economic Modelling (SANEM) and funded by the UK Foreign, Commonwealth, and Development Office (FCDO).
Mr. Chowdhury Ashik Mahmud Bin Harun, Executive Chairman of BIDA, graced the event as Chief Guest, delivering a compelling address. He reflected on his experiences with systemic inefficiencies during his education, underscoring the broader challenges of regulatory bottlenecks in the investment landscape. Mr. Chowdhury emphasized the pressing need for structural reforms to improve the investment climate, urging stakeholders to focus on quantified outcomes. He stated, “The benchmark for improvement is low, but this government’s clear intent and determination provide an opportunity to enact meaningful changes.”
Mr. Owais Parray, Senior Economic Advisor at UNDP Bangladesh, served as the Special Guest, underscoring the critical role of political stability, infrastructure, and human capital in fostering economic growth. The keynote address by Dr. Selim Raihan, Professor of Economics at the University of Dhaka and Executive Director of SANEM, focused on opportunities in agro-processing, jute products, and IT-enabled services. Dr. Raihan presented key findings, highlighting constraints like skill gaps, outdated technology, and regulatory challenges, and recommended targeted policy actions to unlock sectoral growth.
The workshop was moderated by Mr. Shah Mohammad Mahboob, Executive Member (Additional Secretary), Marketing and Communication, BIDA. Mr. Md. Muzib-Ul-Ferdous, Director General (Joint Secretary), of Local Investment Promotion, delivered the opening remarks. Dr. Khandoker Azizul Islam, BIDA’s Secretary (Additional Secretary), presided over the session.
The workshop provided a platform for policymakers, researchers, and industry leaders to discuss strategies to position Bangladesh as a competitive global investment destination post-LDC graduation. Participants highlighted the importance of collaboration and swift policy actions to enhance the nation’s economic resilience and investment climate.