News
Seminar on “Bi-annual Economic State & Future Outlook of Bangladesh Economy"
The progress of the country’s private sector is not very satisfactory due to several prevailing challenges, including disruptions in global trade caused by the recent conflict among Iran, the United States and Israel, tariffs imposed by the United States, deterioration of the overall law and order situation, uncertainty in energy supply to industries, rising inflation and stagnation in both local and foreign investment. Dhaka Chamber President Taskeen Ahmed made these remarks at a seminar on “Bi-annual Economic State & Future Outlook of Bangladesh Economy- Private Sector Perspective” organized by Dhaka Chamber of Commerce & Industry (DCCI) on 09 March 2026 at the DCCI auditorium.
Zonayed Abdur Rahim Saki, MP, Honorable State Minister for Planning joined the seminar virtually as the Chief Guest while Dr. Monzur Hossain, Member (Secretary), General Economics Division, Bangladesh Planning Commission, GoB, A.H.M. Jahangir, Additional Secretary & Project Director, Support to Sustainable Graduation Project (SSGP) and Dr. Mohammad Akhtar Hossain, Chief Economist, Bangladesh Bank also attended the event as Special Guests.
In his keynote presentation, DCCI President Taskeen Ahmed highlighted various issues including global economic instability due to conflicts in the middle east, LDC graduation, monetary policy, inflation, private and foreign investment, international trade, agriculture, industry and manufacturing sector, CMSMEs, energy and power, logistics infrastructure and the financial sector. He stated that the recent conflict in the middle east has posed a serious threat to global trade and supply chain. Since a significant portion of energy used in Bangladesh’s industries is import-dependent particularly from the middle east, the ongoing conflict in this region has created uncertainty and tension in the private sector. He also noted that the new tariff policy introduced by the United States may negatively impact both domestic and global trade and investment.
Considering the overall economic situation, he emphasized the need to defer Bangladesh’s LDC graduation by another three years, while ensuring trade facilitation and export diversification to remain competitive in global markets. He also stressed the importance of sector-based planning and ensuring energy security. Furthermore, he suggested the automation of the revenue management system, expanding the tax net by putting emphasis on direct taxation, reducing the government’s reliance on borrowing from domestic banks and improving the efficiency of public expenditure.
He also mentioned that to sustain inflation at a tolerable level, there is a need to withdraw contractionary monetary policies, reduce interest rates, simplify the import process for capital machinery, strengthen supply chain and market management systems and maintain stability in the foreign exchange rate. DCCI President also stressed that by removing bureaucratic complexities to reduce the cost of doing business, improving the law-and-order situation, and creating a conducive investment environment are essential to accelerate both local and foreign investment. To ensure sustainable energy security and uninterrupted energy supply to industries, he called for long-term energy planning and enhanced onshore and offshore exploration activities.
In his speech as the Chief Guest, Zonayed Abdur Rahim Saki, MP, Honorable State Minister for Planning said that the government is working on appropriate policies to implement the financial commitments outlined in the election manifesto of the newly elected government. He also mentioned that the government is well aware of the ongoing crisis in the middle east and is closely monitoring the situation. They are also outlining necessary measures to address its potential impacts, he added. Highlighting that democratization of the economy is one of the government’s key priorities, he emphasized ensuring that the benefits of development reach to every citizen. He also noted that the government will prioritize employment generation, environmental protection and the development of a skilled workforce. He further mentioned that although there is significant scope to expand the tax net, sufficient attention has not been given in this regard, resulting in greater dependence on domestic and external borrowing.
Dr. Monzur Hossain, Member (Secretary), General Economics Division, Bangladesh Planning Commission said that the new government is working to support initiatives aimed at building a society free from income inequality. He said that to achieve the target of transforming Bangladesh into a $1 trillion economy by 2030, at first the country needs to restore economic stability. In this regard, manufacture based sectors should receive priority and alternative financing mechanisms beyond the banking system should be introduced to ensure financing for SMEs.
A.H.M. Jahangir, Additional Secretary & Project Director, Support to Sustainable Graduation Project (SSGP) mentioned that as a Least Developed Country, Bangladesh has long benefited from duty-free trade privileges. Although the country was scheduled to graduate from LDC status this year, recently an application was submitted to defer the graduation timeline by three years. He also expressed optimism about receiving a positive response.
Dr. Mohammad Akhtar Hossain, Chief Economist, Bangladesh Bank, said that inflation currently stands around 9%, and the recent Middle East crisis could create further economic instability. In such a situation, Bangladesh Bank may need to adopt contractionary monetary policies to control inflation. He warned that excessive liquidity in the market and lower interest rates could create instability in the economy.
Dr. Zaidi Sattar, Chairman, Policy Research Institute of Bangladesh (PRI) emphasized the need to reduce excessive dependence on tariffs and suggested that protection for domestic industries should be time-bound and rational. He also stressed the need for comprehensive reform of the tax structure and bringing the entire process under digital systems.
Dr. A K Enamul Haque, Director General, Bangladesh Institute of Development Studies (BIDS) said that agriculture is increasingly becoming commercialized, and since rice cultivation is becoming less profitable, farmers are losing interest, which could reduce rice production in the future. He also noted weaknesses in supply chain management that need to be addressed. He further mentioned that financing remains the main challenge for CMSMEs and urged banks to play a more proactive role.
Dr. Mohammad Abu Eusuf, Executive Director, RAPID He noted that we need to come out of the bubble of denial, acknowledging that not everything in the economy is functioning properly. He stressed the need to accept the reality and take necessary corrective initiatives. He highlighted the importance of restoring business confidence and strengthening the confidence of bank depositors. To tackle inflation, he emphasized coordinated efforts through fiscal policy, monetary policy and market management. He also mentioned that apart from remittances, other sectors of the economy are not currently performing well. He also noted that the leather sector has the potential to earn $5–10 billion in export revenue, but the country still lags behind in ensuring compliance in that sector.
Faisal Samad, Director, BGMEA & Managing Director of Surma Garments Ltd. said that the RMG sector is one of the key drivers of Bangladesh’s economy, moving from the 8th largest exporter in 2006 to the 2nd position globally at present. However, he warned that Bangladesh’s market in the United States and the EU remains vulnerable due to the absence of Free Trade Agreements (FTAs) with those regions, and urgent initiatives are needed in this regard. He also pointed out that high bank lending rates are creating difficulties for entrepreneurs and emphasized proper utilization of Bangladesh Bank’s GTF fund.
Professor Dr. M. Niaz Asadullah emphasized the need for innovative policies to reduce the cost of doing business and ensure their effective implementation. He also stressed the importance of updating education curricula at all levels and ensuring global recognition of academic qualifications to enhance the skills of the country’s human resources.
During the open floor discussion session, former Director A.K.D. Khayer Mohammad Khan and other participants shared their views.
DCCI Senior Vice President Razeev H Chodhury, Vice President Md. Salem Sulaiman and members of the Board of Directors, along with representatives from the government and private sectors, were also present on the occasion.
Published on: 2026-03-09