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Dhaka Tribune

ED: Unleashing our entrepreneurial spirits

With the right policies in place, there is no doubt that entrepreneurship in Bangladesh can flourish

Update : 21 Jul 2020, 10:02 PM

For a long time, Bangladesh has been a little too dependent on the RMG sector for growth. In recent years, however, making headways in other areas has become more important than ever, as global business becomes more competitive.

Furthermore, with the world getting hit by the Covid-19 pandemic and the global economy thrown into turmoil, it is important to think about the new normal. Buyers across the world have cancelled orders, and no doubt RMG has taken a big hit. Our economy must adapt, it must cushion itself, and most importantly, it must diversify.

In a recent webinar hosted by Better Bangladesh Foundation in partnership with BBF global, the need for entrepreneurship in the country at various levels was pointed out.

The Covid-19 pandemic has been a crisis for business, but this crisis can also be turned into an opportunity. There are, for example, emerging opportunities in the industrial supply chain.

To that end, it is good to see that work is being done closely with local and international media partners, business groups, and various arms of government in order to bring about a much-needed transformation to the global perception of Bangladesh.

The truth is, for too long, our entrepreneurial spirits have been kept in check through various cumbersome government mechanisms, which make business harder, not easier.

These roadblocks must be removed. In this regard, there is much that can be learned from countries like Singapore, where setting up a business is not bogged down by unnecessary bureaucracy. With the right policies in place, there is no doubt that entrepreneurship in Bangladesh can flourish.

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