Political situation improved, stability key to investment: Fakhrul

Local Government, Rural Development and Cooperatives (LGRD) Minister Mirza Fakhrul Islam Alamgir today (6 May) said Bangladesh's political situation has improved compared to the past and expressed hope that sustained stability would pave the way for stronger economic growth, increased investment and job creation.

 "We believe that if we can ensure stability in the country, we will be able to move forward with our goals of economic development through increasing investment and creating employment opportunities," he said at a seminar titled "Cooperation on Markets, Policy, Alignment, Security and Sovereignty."

Institute of Strategy and Tactics Research (ISTR) organised the seminar at a hotel in the capital this morning.

Fakhrul, also BNP secretary general, said government initiatives such as family cards, farmer cards and canal excavation programmes have created hope among people.

However, he identified slow bureaucratic processes as a major obstacle to investment, noting that delays by government agencies often discourage foreign investors.

The pace at which our agencies handle investment issues creates a negative situation. "Foreign investors become frustrated. This has become a major problem," he said.

He said the government is working to reform the bureaucracy and improve the overall investment climate, acknowledging that the current business environment is not yet satisfactory.

"Our prime minister is discussing it regularly and pushing all ministries to act quickly," Fakhrul added.

Highlighting challenges in the energy sector, he said Bangladesh is moving towards renewable energy, particularly solar alongside efforts for onshore and offshore exploration of oil and gas.

He also underscored the importance of ensuring investment security, maintaining stability in the Bay of Bengal and fostering balanced relations with allies and neighbouring countries.

Mentioning Rohingya issue as a major challenge, he said the government is working towards a solution.

Fakhrul thanked ISTR for initiating the dialogue and expressed hope that it would lead to further discussions and constructive outcomes.

The seminar aims to bridge the gap between national priorities and the interests of international partners, serving as a platform for aligning immediate policy needs with long-term sovereign goals.

Organised in collaboration with Bangladesh Defence Journal and Change Initiative, the initiative seeks to function as a strategic forum to enhance coordination and clarity in policymaking.