Bangladesh Institute of Peace and Security Studies president major general (retired) ANM Muniruzzaman expressed optimism that Bangladesh could achieve sustainable development and establish itself as a key player in the regional economy with the right reforms.
He urged the stakeholders across sectors to contribute towards a shared vision of ‘Bangladesh 2.0’ that could meet the aspirations of its citizens and the demands of a global economy.
The expert made the remarks at a Policy Café titled ‘Bangladesh 2.0: Reimagining our Economic Future’ in Dhaka, organised by BIPSS recently.
The event gathered distinguished personalities, economic experts, representatives from different organisations, journalists and business pioneers, who examined the opportunities and challenges facing Bangladesh as it moves towards a new economic vision.
The discussion, moderated by Muniruzzaman, featured insights from the keynote speakers Fahmida Khatun, executive director of the Centre for Policy Dialogue, and Fahim Mashroor, founder and CEO of Bdjobs.com.
Shafqat Munir, senior research fellow and head of BCTR at BIPSS, described that Bangladesh had emerged as a significant player in the global economy, demonstrating remarkable resilience and growth.
‘Addressing infrastructure bottlenecks, improving education, and promoting sustainable development are crucial to ensuring long-term economic prosperity. While Bangladesh faces obstacles, its potential is immense. By capitalising on its young workforce, strategic investments, and a favourable business environment, it can secure a brighter economic future,’ he said.
Muniruzzaman highlighted that Bangladesh was at an economic crossroads, facing complex challenges from inflation and trade imbalances to the sustainability of foreign reserves and remittance flows.
He emphasised the importance of strategic policy direction to safeguard and develop Bangladesh’s economic future, especially considering the need to address a widening income gap, a fragile banking sector, and looming issues in energy and food security.
Fahmida Khatun provided an in-depth overview of macroeconomic indicators, addressing issues such as the tax-to-GDP ratio, banking sector inefficiencies, and inadequate governance in key sectors.
She urged for an economic shift beyond reliance on GDP growth statistics to address employment, investment, and productivity metrics more substantively.
‘In achieving a transformative shift to Bangladesh 2.0, we must look at reforming not only our domestic economic policies but also better aligning with global economic trends,’ she said.
Fahmida highlighted the need to improve foreign direct investment inflows and prepare human capital to align with global economic demands, particularly in technology and services.
She also underscored the importance of STEM education and digital upskilling as essential for Bangladesh to remain competitive as it transitions from an LDC to a developing economy in 2026.
Fahim Mashroor discussed the pressing issue of youth unemployment. With Bangladesh’s youth demographic at a historic high, he emphasised the urgent need for structural reforms to create viable employment opportunities.
He noted that despite over two million graduates entering the job market each year, a significant percentage remained unemployed, indicating a critical gap between educational output and market demand.
‘Our demographic dividend could turn into a demographic challenge if we fail to address youth unemployment effectively,’ he cautioned.
Mashroor suggested strengthening small and medium enterprises as key players in job creation and proposed policy measures that would provide easier access to credit and business development services for these enterprises.
Participants from academia, the business community, and policy-making circles shared insights on strengthening food security by diversifying import sources and enhancing domestic agricultural productivity.
Fahmida echoed these views, stating, ‘Bangladesh’s economy must diversify its export base and reduce reliance on a few primary sectors to ensure long-term resilience.’
The panellists also discussed the need to address corruption, improve banking regulations, and introduce a more robust financial ecosystem that could facilitate growth in underdeveloped rural areas.