Business leaders call for decentralisation, unified voice for Bangladesh’s economic future
The event focused on urgent reforms in taxation, macroeconomic stability, and investment competitiveness.
Business leaders, economists and policymakers gathered at the dialogue "Bangladesh Business Outlook – The Priorities Ahead," jointly organised by SMAC Advisory Services Limited and Policy Exchange Bangladesh on 21 September.
The event focused on urgent reforms in taxation, macroeconomic stability, and investment competitiveness. Participants strongly emphasised the importance of greater decentralisation for Chattogram, positioning the port city as a driver of national growth, according to a press release.
Zareen Mahmud Hosein, director of SMAC Advisory Services Limited, opened the dialogue, stressing stronger public–private collaboration.
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M Masrur Reaz, founder and chairman of Policy Exchange, highlighted the need for evidence-based policymaking to ensure inclusive development.
Hasnat Alam, economist at Policy Exchange, outlined fiscal priorities for stability and growth, while Snehasish Barua, managing director, SMAC Advisory Services Limited, shared the private sector perspectives on taxation and emerging policy challenges.
The dialogue highlighted several pressing challenges facing Bangladesh's economic and business landscape. Participants noted the limited availability of key decision-makers, which often delays timely policy implementation and hinders business facilitation.
They stressed the urgent need for a more efficient port management system to reduce operational costs and improve the ease of doing business.
Concerns were also raised about insufficient participatory policy-making, as many voices, particularly those of youth entrepreneurs, remain unheard in national economic discussions.
Emphasis was placed on fostering genuine Bangladeshi patriotism, ensuring that national interests remain central to both economic and social development.
Additionally, the current non-transparent and complex tax administration system was identified as a major barrier, creating obstacles for businesses and discouraging compliance.
The dialogue concluded with a strong call for collaborative action between policymakers, the private sector, and youth representatives to address these challenges and unlock Bangladesh's full economic potential.
The program concluded with Sukanta Bhattacharjee, director of SMAC Advisory Services Limited, summarising the dialogue's key takeaways.
The dialogue attracted enthusiastic participation from key representatives from UCEP Bangladesh, BSRM, HSBC Hirdaramani Apparel Bangladesh, Pacific Jeans Group, CPDL, MAS Intimates Bangladesh (Pvt.) Ltd, RSGT Chittagong, Meridian Group, The Woolmark Company, Thianis Apparel, Mostafa Garments Ind Ltd, TK Group, Elite Paint, and others.
