The Special Envoy to the chief adviser on international affairs, Lutfey Siddiqi, said on Tuesday that the interim government is working to dismantle syndicates at all levels to establish good governance, improve the ease of doing business, and attract more investment.

Speaking at a seminar titled “LDC Graduation: Impacts on Agro Sector, Export Diversification and The Way Forward” at the Economic Reporters' Forum (ERF) auditorium, Lutfey stressed the need for all stakeholders—ministries, industries, and businesses—to prepare for the country’s smooth transition from Least Developed Country (LDC) status. The event was jointly organised by the ERF and the Bangladesh Agrochemicals Manufacturers Association (BAMA).
BAMA President KSM Mustafizur Rahman presented insights into Bangladesh’s agrochemical production and market potential, while ERF President Doulot Akter Mala presided over the event, with General Secretary Abul Kashem moderating.
Lutfey noted that economic reforms aim to free the country from syndicate control, stating that after assuming his role, he repeatedly encountered concerns about market manipulation. He emphasised the need for economic and institutional reforms to break such monopolies.
Highlighting the importance of labour and environmental standards, he said improving Bangladesh’s green credentials would enhance market access in the post-LDC period. He also mentioned ongoing efforts to curb inflation through coordinated measures involving the commerce adviser.
Lutfey pointed out that Bangladesh, given its geo-economic position, has the potential to become a regional business hub like Dubai or Singapore. He also stressed the need to improve Chattogram Port’s efficiency, as it handles the highest number of containers in the country.
“Our vision is to make Bangladesh an economic hub, and we are actively working towards making the country more attractive for business," he added.
Chief Adviser’s Press Secretary, Shafiqul Alam, reiterated that the chief adviser aims to create more jobs and transform Bangladesh into a manufacturing hub. He underscored the importance of export diversification and efficient utilisation of the country’s workforce, especially in light of global trade shifts affecting China, Canada, and Mexico.
Shafiqul also stressed that increasing Chattogram Port’s efficiency is crucial, as export orders depend heavily on its operations. He noted that while ease of doing business was often discussed in theory over the past two decades, the interim government, led by Prof Muhammad Yunus, is taking concrete steps to ensure real improvements.
BAMA President emphasised the need to support local agrochemical manufacturing to reduce import dependency, while Secretary General of the D-8 Chambers of Commerce and Industry, Ashraful Haque Chowdhury, also spoke at the event.