Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun on Monday said Bangladesh must speed up reforms and their implementation to attract higher investment and stay competitive globally.
He said Bangladesh must move from “second gear to fifth gear” if it wants to compete for global investment. “If we have been running in second gear so far, we actually have to drive a car in fifth gear now; otherwise, it will never be possible for us to bring in global investment by competing with our rival nations,” he said.
He made the remarks while speaking at the launch of the UNCTAD Investment Policy Review (IPR) Implementation Report for Bangladesh at the BIDA building in Dhaka.
Ashik Chowdhury said stronger execution and faster action have become essential as competing countries are moving ahead at a quicker pace, making it harder for Bangladesh to catch up.
He highlighted a key challenge, saying Bangladesh often prepares plans and produces reports but fails to implement agreed recommendations.
“We make many plans, speak a lot, and many beautiful reports are released. But after agreeing, it is seen that we do not actually implement what is said in those reports,” he said.
He also referred to global uncertainty, including instability in trade linked to the Middle East conflict, saying the international environment remains fragile.
He stressed that stability is essential to sustain both domestic and foreign investment.
The BIDA chief said Bangladesh must protect existing investments, ensure support for investors and create new opportunities to attract fresh inflows.
He called for a second phase of reforms with goal-oriented planning, effective execution and stronger coordination among stakeholders.
He also urged setting short-term targets to achieve in the next two to three years progress comparable to the past five years.
BIDA Executive Member Nahian Rahman Rochi and UNDP Deputy Resident Representative Sonali Dayaratne also spoke at the programme.
