With our talk of becoming a smart, prosperous nation in less than two decades, there are many areas where we must improve. However, of all our priorities, perhaps nothing is more important than ensuring vast improvement to our overall business culture.
To that end, the Bangladesh Business Summit of 2023 offers a promising outlook for the country's business climate -- highlighting the government's commitment to creating a conducive environment for local and foreign investors.
With its population, especially with it enjoying the period of demographic dividend, together with its steady growth rate, Bangladesh's potential as a business hub has always been there, but is greater now than ever before.
There remain several areas for us to focus on to improve our business culture - none more so than the improvement of our infrastructure.
The government continues to invest in building roads, bridges, and ports to improve connectivity, from the metro rail to the Padma Bridge, making it more convenient for businesses to transport goods and services -- reducing costs and increasing efficiency.
Moving forward, we must do so in a sustainable manner, ensuring projects remain on time and on budget.
Also of note is the establishment of special economic zones to attract foreign investment, particularly in the manufacturing sector. We must continue to work to create more investment opportunities, particularly in the technology and digital sectors. Bangladesh's demographic dividend also means a more tech-savvy population. We must lean into this sector and build capacity.
While we have tried to implement several reforms, including simplifying business registration processes, reducing the time it takes to obtain permits and licenses, and improving access to credit, we continue to be a nation not known for the ease of doing business. If we are serious about encouraging investors local and foreign, we must get significantly better at providing them with incentives and less hassles.
Bangladesh's potential to become a significant player in the global economy has never been in doubt. As we look towards middle-income status very soon, and with renewed focus, business is sure to be picking up.
