Bangladesh needs deregulation to boost investment and growth: Khasru
Investors will not commit funds during an interim government, he says
Bangladesh is "over-regulated" and needs "serious deregulation" to attract investment and promote economic growth, BNP Standing Committee member Amir Khasru Mahmud Chowdhury said today (10 August).
"Opening a restaurant requires 19 different permissions, and this extensive regulation in all sectors discourages investment. Without serious deregulation, nothing will change," he said while speaking at a dialogue on the interim government's first year in office, organised by the Centre for Policy Dialogue (CPD) in Dhaka.
Khasru argued that investors would not commit funds during an interim government, adding that Bangladesh ranks low in the ease of doing business index.
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"If you genuinely want development, the government's role must be minimised," he said.
He proposed allowing trade bodies to self-regulate and pledged to reduce the need for physical presence in bureaucratic processes if given the opportunity.
"We want foreign investors to register a company online from the airport upon arrival," he said, adding that excessive regulations fuel corruption and create an "oligarchy" favouring a few businesses.
Highlighting governance reforms, Khasru said the economy must be "democratised" with transparency, accountability, and elections to sustain democracy.
He stressed skill development and a "creative economy" to link marginalised groups to global markets, while expanding the tax net through economic growth rather than increased pressure on existing taxpayers.
He also urged support for returning expatriate Bangladeshis through positive policies.
On political culture, Khasru called for ending confrontation in politics.
"If this change is not possible, a hundred reforms will be of no use. We must bring about a foundational change within ourselves," he said.
He criticised the national budget for failing to prioritise social safety nets, describing it as serving a "looting economy" similar to the previous government.
On labour rights, he said politicians must meet public expectations, "If the people give us the responsibility of running the state, we can perform from day one. But everyone's cooperation will be needed."
