Experts urge responsible business for national progress

The private sector could be a driving force for transformative change in Bangladesh.

Through collaborative efforts and strategic partnerships, innovative solutions can be developed to tackle the country's pressing development challenges while fostering sustainable economic growth.

Sharing these insights, speakers at the Private Sector Engagement Conclave, organised by Oxfam today in Dhaka, emphasised that by leveraging the private sector's capabilities, a future that is equitable, resilient, and inclusive can be shaped. The event brought together leaders from policymakers, the private sector, development organisations, and civil society to explore the role of businesses in driving sustainable development in Bangladesh.

Chowdhury Ashiq Mahmud Bin Harun, Executive Chairman of the Bangladesh Investment Development Authority (BIDA), participated as chief guest and emphasised the growing importance of public-private partnerships in achieving inclusive economic growth and tackling social and environmental challenges.

He said, 'The private sector has the potential to be a catalyst for transformative change. Through collaborative efforts and strategic partnerships, we can create innovative solutions that address Bangladesh's pressing development challenges while fostering sustainable economic growth.'

Chairman of the SME Foundation, Md Mushfiqur Rahman, stressed that policies and practices should facilitate ease of trading for SMEs. Hosna Ferdous Sumi, the senior private sector advisor of the World Bank, mentioned that the public-private partnership platform is important.

 Additionally, the World Bank would like to establish a partnership to ensure environmental sustainability for SMEs.

Oxfam in Bangladesh showcased the outcomes of its key initiatives, including the Private Sector Rapid Care Analysis (PS RCA) and the Enterprise Development Programme (EDP). These initiatives have demonstrated innovative approaches to inclusive growth, sustainable entrepreneurship, and impactful partnerships between the private and development sectors.

At the event, Ashish Damle, Country Director of Oxfam in Bangladesh, highlighted the organisation's longstanding commitment to addressing poverty and inequality. "For over five decades, Oxfam has been a trusted development partner in Bangladesh. The private sector is indispensable in shaping an equitable, resilient, and sustainable future. Together, we can pioneer solutions that leave no one behind."

The event facilitated dynamic discussions, strategic advocacy, and knowledge sharing to strengthen stakeholder collaborations. Representatives from leading private sector organisations, development agencies, and other key players participated in the sessions, reaffirming their commitment to advancing sustainable practices and social impact through meaningful partnerships.

The Private Sector Engagement Conclave 2025 concluded with a renewed call for action to align business objectives with sustainable development goals, fostering innovative and inclusive growth in Bangladesh.