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Bangladesh needs transformational entrepreneurship

  • Published at 04:53 pm November 23rd, 2018

In order to succeed and fulfill our visions, we cannot afford to be complacent

Bangladesh is on the cusp of turning a significant corner in its 47-year-old history as a nation -- we have been witnessing historic growth numbers, and there is genuine hope that we will soon be able to fulfill a long-standing vision of elevating ourselves to middle-income status.

That is why Centre for Policy Dialogue’s comments, made at a briefing on the UN report “Least Developed Countries (LDCs) Report 2018,” about embracing structural transformation methods, among others, are most pertinent, and should not be ignored.

It is important for us to remind ourselves, as harsh as it may sound, that we are still an LDC, and in order to succeed and fulfill our visions, we cannot afford to be complacent, and must employ key changes.

CPD stresses on the necessity for entrepreneurship development -- it is the foundation on which our country can diversify its products, and opens new initiatives to move away from low wages and low cost products. This would lead to a focus on a number of policies related to operational and management issues, to ensure the comprehensive development of enterprises in the country.

Additionally, with the general elections about a month away, there should be clear indication from all political parties in their election manifestos on structural economic transformation. Too often, in the past, political differences have hampered the country’s growth, and that is something we simply cannot afford to do anymore.

Bangladesh should be proud that it is about to graduate to a developing country from an LDC. Let us continue to do what is necessary to reach this milestone as quickly as possible.