BNP outlines roadmap for $1 trillion economy by 2034 at Bangladesh Investment Summit

The BNP has unveiled an ambitious plan to transform Bangladesh into a $1 trillion economy by 2034, presenting its economic roadmap at the Bangladesh Investment Summit, concluded on Thursday (10 April).

In a series of pledges, the party said if voted to power, it will create 10 million jobs within the first 18 months of forming government. It also plans to increase the foreign direct investment-to-GDP (FDI/GDP) ratio from the current 0.45% to 2.5%, according to a post on BNP Media Cell's official Facebook page on Thursday.

As of the fiscal year 2023-24, Bangladesh's gross domestic product (GDP) stood at $450 billion, according to the Bangladesh Bureau of Statistics. 

The announcement comes as Bangladesh's economy is projected to cross the $500 billion mark for the first time in FY26, with the Finance Division estimating the GDP to reach $517.7 billion (Tk6,31,5923 crore), according to official figures.

BNP's roadmap also promises comprehensive tax reforms. The party said it aims to reduce the tax burden on citizens while increasing tax revenue by eliminating fear and encouraging compliance.

To boost overseas employment, BNP has committed to enhancing the skills of the country's human resources through structured training and incentives, promising broader and more effective success than in the past.

The roadmap outlines 11 proposed regulatory reforms aimed at making Bangladesh more attractive for FDI. These include — activating Bangladesh Investment Development Authority (Bida) effectively, modernising visa and work permit policies, launching 24/7 services for investors, enabling automated profit repatriation, ensuring the availability of skilled local workforce, introducing an investor protection law, and improving infrastructure.

In a message marking the investment summit, BNP Acting Chairman Tarique Rahman called "unity the foundation for future national development." 

He addressed Bangladesh's potential in the context of the current global trade climate and recalled past efforts by former president Ziaur Rahman and former prime minister Khaleda Zia's governments in promoting foreign investment.

"I strongly believe Bangladesh will stand at this crossroads with clear vision and determination and emerge stronger in the end. The economy that could flourish so much leveraging foreign investments has remained under the shadow of its true potential," he said. 

"We believe meaningful investment growth begins through active engagements with existing and prospective investors, addressing the fundamental barriers that have historically impeded capital inflows into Bangladesh," he added.

Addressing the recently imposed tariffs by the USA, he said, "The recent adjustments in international tariff regimes, while presenting immediate hurdles, are far from insurmountable. With annual imports totalling more than $75 billion, Bangladesh possesses significant leverage to restructure just $2-4 billion of our import portfolio strategically to achieve favourable reciprocal tariff treatments in the future and avoid any major fallouts from the ongoing global trade war."

"Such recalibration may help Bangladesh maintain access to its crucial export destinations while strengthening our competitive edge against regional alternatives," he added.

"As several East Asian industrial powerhouses face larger trade imbalances than ours against major export destinations, Bangladesh is likely to emerge as more of a favourable manufacturing hub with attractive labour force and still relatively lower overall tariffs. With appropriate policy direction, we are poised not merely to weather these challenges but to emerge stronger and more resilient," he said.

The roadmap also details the economic damage caused by what BNP describes as 18 years of authoritarian rule and lays out how a future BNP government would steer the economy towards stability and growth.