Labour reforms crucial in attracting large-scale FDI to Bangladesh: CA Yunus

Chief Adviser Muhammad Yunus yesterday (25 September) underscored the critical role of labour reforms in attracting large-scale foreign direct investment to Bangladesh. 

Speaking at a discussion followed by dinner, he reaffirmed the interim government's commitment to implementing key reforms, aligned with International Labour Organization (ILO) conventions, before the upcoming national election in February.

The high-level dinner hosted at the Bangladesh Permanent Mission to the United Nations brought together diplomats, UN officials and senior political leaders from Bangladesh for a focused dialogue on labour laws, workers' rights and ongoing reform efforts in the country.

Leaders from three major political parties in Bangladesh participated in the event, contributing to an open and constructive exchange on labour issues.

The discussion, moderated by Lutfey Siddiqi, special envoy to the chief adviser, included comments from the director-general of the ILO and senior representatives from various UN agencies.

Participants commented on the broader implications of labour reform for Bangladesh's economic future and international standing, said Chief Adviser's Deputy Press Secretary Azad Majumder.

Before the formal address by the chief adviser, political leaders from the three major parties were invited to share informal remarks. 

Each emphasised the importance of the garment industry and expressed support for continued labour sector reform.

Mirza Fakhrul Islam Alamgir, secretary general of the BNP, described the garment industry as a cornerstone of Bangladesh's economy. 

He noted that any future government must prioritise its growth and sustainability and acknowledged the interim government's efforts to advance labour reforms and ILO commitments.

Syed Abdullah Mohammad Taher, nayeb-e-ameer of the Jamaat-e-Islami, highlighted that many in his party bring direct experience from the garments industry. 

He said this gives them a valuable insight into how the sector can become more globally competitive. 

He expressed support for the interim government's reform agenda and a desire to build on these reforms, if elected.

Humayun Kabir, foreign affairs adviser to BNP acting chairman Tarique Rahman, echoed the BNP's appreciation for the current labour initiatives. 

He said such efforts should not only be continued, but further expanded under any incoming administration.

A common theme among all three speakers was the urgent need for Bangladesh to secure fairer pricing for its garment exports. 

"It should not be the buyer who always dictates the terms," said one speaker, a sentiment that drew consensus across party lines.

Dr Tasnim Jara, a senior leader of the National Citizen Party (NCP), offered a personal reflection, recalling the Rana Plaza tragedy as a defining moment in her political journey. 

Then a medical student, she volunteered to treat the injured. "That incident shaped my politics," she said, calling attention to the human cost of unsafe labour practices and the pressing need for reform.

In closing remarks, the chief adviser reiterated the government's resolve to implement meaningful and lasting reforms.