Building Bangladesh 2.0: The corporate mandate for national renewal
At this juncture, corporations have a unique and profound responsibility to help shape Bangladesh 2.0. This is not just about economic growth; it is about nation-building in the truest sense of the word
As the dust begins to settle following Bangladesh's momentous student-led uprising, the nation stands on the threshold of a new era. This is not merely a political transition; it is an opportunity to rebuild a nation from the ground up and redefine what it means to be Bangladeshi in the 21st century.
At this critical juncture, corporations, both local and multinational, have a unique and profound responsibility to help shape Bangladesh 2.0. This is not just about economic growth; it is about nation-building in the truest sense of the word.
Economic stability and job creation: Beyond the bottom line
In the aftermath of political upheaval, economic stability is often the first and most urgent need. However, for Bangladesh, this stability must be built on a foundation of inclusivity and long-term sustainability. The role of corporations here is crucial. They must invest not just in industries but in people, creating jobs that provide not only income but dignity and purpose.
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This is reminiscent of Germany's post-reunification era when West German businesses invested in the East, not just to expand markets but to foster unity and rebuild a nation that had been divided for decades.
In Bangladesh, this means creating opportunities in regions that have been historically marginalised and investing in education and training to ensure that every Bangladeshi, regardless of their background, has a fair shot at a better life. It is about seeing job creation not just as an economic necessity but as a moral duty, a way to heal the wounds of a divided society.
Corporate Social Responsibility: A new kind of engagement
The concept of corporate social responsibility (CSR) must evolve in this new Bangladesh. It is no longer sufficient to simply donate to charitable causes or sponsor occasional community events.
What Bangladesh needs now is deep, meaningful engagement and CSR initiatives that address the root causes of social and economic inequality. This is the kind of engagement that helped rebuild Rwanda after the genocide, where businesses played a key role in fostering reconciliation and rebuilding trust within communities.
Imagine CSR programs that focus on rebuilding community monuments and national assets in conflict-affected areas, providing healthcare in rural regions, or supporting grassroots organisations that are working to empower women and minorities.
These are not just acts of charity; they are investments in the future stability and prosperity of Bangladesh. By helping to rebuild the social fabric, corporations can ensure that the progress made in the boardrooms is felt in the everyday lives of people across the country.
Innovation for good governance: The Estonian example
One of the most powerful tools that corporations can bring to bear in the rebuilding of Bangladesh is technology. Estonia's transformation into a digital society offers a compelling example of how technology can revolutionise governance and empower citizens. In the wake of its independence, Estonia focused on creating a transparent, efficient, and accessible government through the use of digital platforms. Today, Estonians can access virtually all government services online, fostering a culture of transparency and reducing opportunities for corruption.
Bangladesh can follow a similar path. Corporations in the tech sector can partner with the government to develop digital platforms that enhance transparency, increase citizen participation, and streamline public services.
This is not just about bringing governance into the digital age; it is about making governance more accountable, more responsive, and more tuned to the needs of the people. It is about giving every Bangladeshi a voice in how their country is run.
Supporting SMEs: The power of partnership
Small and medium enterprises (SMEs) are the backbone of any economy, and in Bangladesh, they are particularly vital. These businesses are the lifeblood of communities, providing jobs, services, and opportunities where they are needed the most. However, SMEs often lack the resources and support they need to thrive, particularly in the wake of political and economic upheaval.
Large corporations have a critical role to play here. By forming partnerships with SMEs, they can provide the resources, mentorship, and market access that small businesses need to grow. This is not just about corporate philanthropy; it is about creating a more resilient and diversified economy.
In the United States, programs like the Goldman Sachs 10,000 Small Businesses initiative have shown how corporate investment in SMEs can drive economic growth and create jobs at scale. In Bangladesh, a similar approach could be transformative, helping to rebuild the economy from the ground up.
Ethical leadership: Building a culture of integrity
The fall of the previous regime was, in part, a result of widespread corruption and a lack of accountability. As Bangladesh moves forward, the new corporate landscape must be built on a foundation of ethical leadership. This is not just about complying with regulations; it is about creating a culture where integrity is at the heart of every business decision.
In Bangladesh, corporations must lead by example, demonstrating that it is possible to be both successful and ethical. This means embracing transparency, treating employees and customers with respect, and committing to sustainability. It means recognising that the true measure of success is not just the bottom line but the impact that businesses have on the communities they serve.
Inclusivity in employment: Honouring the sacrifices of the uprising
One of the most profound and heartbreaking aspects of the recent uprising is the number of students who have been permanently disabled, some losing limbs, others their eyesight. These young people sacrificed their futures so that Bangladesh could have a better one, and corporations must honour their sacrifices by ensuring that they are not left behind. Inclusive employment practices must be at the forefront of corporate strategies. This means creating jobs that are accessible to people with disabilities, providing the necessary accommodations, and fostering a work environment that values diversity and inclusion.
In South Africa, following the end of apartheid, corporations actively sought to integrate those who had been marginalised into the workforce as part of the nation's healing process. Bangladesh must now do the same, ensuring that those who bore the brunt of the struggle for freedom are allowed to contribute to and benefit from the nation's rebuilding.
Rebuilding trust and combating fake news
In the wake of the revolution, Bangladesh faces a significant challenge with the spread of fake news, which threatens to undermine the hard-won unity of the nation. Corporations, particularly in media and technology, have a critical role to play in restoring trust.
Companies can support media literacy programs to help the public distinguish reliable information from misinformation. Tech firms, especially those managing social media platforms, should develop robust fact-checking tools to prevent the spread of false information.
Collaborating with independent fact-checkers and being transparent about these efforts will show a genuine commitment to truth and help rebuild public trust. By fostering environments where accurate information is prioritised, businesses can ensure that the nation moves forward on a foundation of truth and integrity, which is essential for the successful rebuilding of Bangladesh 2.0.
The heartbeat of Bangladesh 2.0
As Bangladesh embarks on this journey of renewal, the role of corporations cannot be overstated. This is a moment of unprecedented opportunity, a chance to build a nation that is more just, more equitable, and more prosperous than ever before. But to seize this opportunity, corporations must lead with heart. They must see their role not just as economic actors but as nation-builders, as partners in the creation of a new Bangladesh.
This is a call to action for every business, every entrepreneur, and every leader. The future of Bangladesh is being written today, and it is a story that we must all take part in. By investing in people, engaging with communities, embracing innovation, supporting small businesses, and upholding the highest ethical standards, corporations can help build a Bangladesh 2.0 that is a beacon of hope and progress for the world.
The time to act is now. The time to build is here. With courage, compassion, and a shared commitment to a brighter future, we can create a Bangladesh that we are all proud to call home.
Rahat Ara Kabir Kheya is a B2B Development Manager at BAT Bangladesh.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinions and views of The Business Standard
