Creative economy needs policy reforms to thrive on Tk800cr support in FY27: Stakeholders
Stakeholders also warn that tax, copyright and licensing reforms are essential to unlock the sector's growth and employment potential.
Highlights:
- Stakeholders seek reforms beyond Tk800cr budget support
- Copyright, tax, licensing overhaul urged for growth
- FY27 initiative targets 500,000 new jobs
- Creative industries need stronger policy ecosystem, speakers say
Stakeholders have urged the government to prioritise policy and regulatory reforms to unlock the potential of Bangladesh's creative economy, saying the newly announced Tk800 crore budget initiative alone will not be enough to transform the sector into a major driver of growth and employment.
The call came at a discussion "Today's Agenda: Creative Economy – Slogan or Potential?" organised by the Power and Participation Research Centre yesterday, with its Executive Chairman Dr Hossain Zillur Rahman moderating.
Speakers said the country has abundant creative talent, but outdated tax policies, weak copyright protection, an ineffective licensing system and inadequate institutional support have prevented the creative industries from reaching their economic potential.
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The discussion highlighted that the FY27 budget has earmarked a Tk800 crore action plan for the creative economy for the first time. The package includes a direct allocation of Tk300 crore and plans to mobilise another Tk500 crore from Bangladesh Bank's corporate social responsibility fund.
The initiative also aims to increase the sector's contribution to gross domestic product, create around 500,000 jobs and promote the "Created in Bangladesh" brand globally.
Filmmaker and entrepreneur Tanim Noor said the government should introduce a separate tax policy for the creative sector, arguing that fiscal incentives would attract investment in the film industry and encourage new investors.
Chorki Chief Executive Officer Redoan Rony said reforms to taxation, licensing and infrastructure are critical for the growth of the country's film and Over-the-Top industries.
He noted that domestic streaming platforms operate without a clear policy framework, while international OTT platforms generate revenue from Bangladeshi audiences without facing similar regulatory obligations.
University Press Limited Managing Director Mahrukh Mohiuddin called for modernising the national book policy, strengthening copyright enforcement and tackling digital and print piracy to support the publishing industry and expand Bangladesh's presence in international markets.
Bengal Foundation Director General Luva Nahid Choudhury said Bangladesh must create an enabling policy environment that allows creative professionals to develop commercially, while playwright Bakar Bakul stressed the need to recognise arts and theatre as viable economic sectors rather than activities driven solely by personal passion.
Handicraft entrepreneur Md Tauhid Bin Abdus Salam said policy support for quality certification and branding would help Bangladeshi products compete in global markets.
Concluding the discussion, Zillur Rahman said reforms to tax policy, copyright protection, royalty distribution and licensing should be treated as priorities, adding that coordinated action by the government and industry stakeholders is essential to build a competitive creative economy.
