Experts urge sustainable preparation over haste for Bangladesh’s LDC graduation

Government policymakers, economists and business leaders have stressed that Bangladesh must prioritise energy security, banking sector reforms, a business-friendly environment and policy continuity to ensure a smooth and sustainable graduation from the Least Developed Country (LDC) category.

The observations were made on Wednesday evening (29 July) at a strategic dialogue titled “Bangladesh’s Upcoming LDC Graduation: Addressing the Challenges of Sustainable Transformation”, organised by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) at the Ruhul Quddus Auditorium of the ICMAB Building in Nilkhet, Dhaka.

Commerce, Industries, and Textiles and Jute Adviser Khandaker Abdul Muqtadir attended the event as the chief guest. The session was chaired by ICMAB President Md Kawsar Alam, FCMA.

Special guests included BGMEA President Mahmud Hasan Khan, Radiant Group Chairman Md Naser Shahriar Zahedi, and former National Board of Revenue (NBR) Chairman and former ICMAB President Md Abdur Rahman Khan, FCMA.

The keynote paper was presented by Professor Mustafizur Rahman, Distinguished Fellow at the Centre for Policy Dialogue (CPD).

In his keynote address, the Commerce Adviser said Bangladesh had already qualified for LDC graduation, but the real challenge lay in ensuring that the transition was sustainable. He noted that once the country leaves the LDC category, it will face a new global trading environment, particularly in exports, the pharmaceutical industry and international commerce. He therefore emphasised the need to complete the necessary structural reforms before graduation.

He said the government was working to strengthen energy supplies, expand LNG infrastructure, restore stability in the banking sector and simplify business procedures. He also highlighted plans to introduce fully online services for company registration, trade licences, import and export registration, and other essential business services to improve the ease of doing business.

The Adviser added that a significant portion of the country’s industrial sector was currently operating below capacity due to energy shortages. Ensuring an adequate gas supply, he said, would substantially boost industrial output and economic growth.

Former ICMAB President and former NBR Chairman Abdur Rahman Khan said Bangladesh’s post-LDC success would depend on good governance, infrastructure development, policy consistency and political stability. He added that the country possessed enormous human potential and capability, but effective implementation remained the key to realising that potential.

BGMEA President Mahmud Hasan Khan said the focus should now shift beyond export volume to increasing value addition and value retention. He observed that improving the energy situation and expanding access to low-cost financing could enable the ready-made garment sector to achieve at least 10 per cent growth. He also called for the expansion of Bangladesh Bank’s special financing facilities.

Read More

Govt, UNOPS and partners advance Bangladesh’s sustainable building agenda

In his presentation, Professor Mustafizur Rahman provided a detailed analysis of Bangladesh’s likely post-LDC challenges, including greater competition in international trade, the gradual loss of preferential tariff benefits and strategies for sustainable economic transformation. He underscored the importance of improving productivity, diversifying exports and accelerating policy reforms.

Pran Group Managing Director Ilias Mridha participated in the discussion as a panellist. The session was moderated by former ICMAB President Arif Khan, FCMA, while ICMAB Secretary Monjur Md Saiful Azam, FCMA, delivered the vote of thanks.

Speakers unanimously agreed that while Bangladesh’s graduation from the LDC category would mark a major national milestone, its long-term success would depend on structural reforms, energy security, financial sector stability, skilled human capital development and a more investment-friendly business environment.