Finance Minister Amir Khosru Mahmud Chowdhury on Wednesday reaffirmed the government’s strong commitment to transforming the country’s business environment and expanding export diversification.
He pledged to remove major barriers and ensure greater ease of doing business for the private sector.
He said the government sees the private sector as the main driver of economic growth and development. The state, he added, will increasingly act as a facilitator by providing necessary infrastructure and policy support rather than functioning as a conventional regulator.
The finance minister made the remarks while speaking at the 46th meeting of the consultative committee between the National Board of Revenue (NBR) and the FBCCI, held at a hotel in the capital. Commerce Minister Khandaker Abdul Muktadir attended the programme as special guest, while NBR Chairman Md Abdur Rahman Khan FCMA presided over the meeting.
Khosru Mahmud Chowdhury said “Bangladesh’s garment sector has achieved remarkable success, but other sectors such as gold and diamond industries remain underdeveloped.”
He added “Export diversification will be strengthened by extending facilities similar to the readymade garments (RMG) industry to other promising export sectors, including gold and diamond, if they come forward with proposals.
The minister stressed that possible misuse by a few should not block opportunities for the majority of compliant businesses.
“Fear of misuse will not block sectors. Misuse will be addressed separately, but business opportunities will remain open,” he said.
The finance minister called for strict action against unnecessary cost escalation and corruption at ports. He urged business leaders to identify the barriers they face and assured swift resolution of such issues.
He also acknowledged long-standing challenges in the business environment, including patronage-based practices, hidden costs and administrative inefficiencies. He urged business leaders to submit detailed feedback within the next three months, highlighting corruption and mismanagement at ports as major reasons for high operating costs.
Khosru said structural reforms require time as the economy remains fragile. He added that emphasis is being placed on a high-quality national budget aimed at reducing poverty and increasing investment, which will help generate demand for goods and services.
He said the government is moving towards full automation and digitisation to reduce direct contact between taxpayers and officials and limit harassment. He noted that the Cabinet has approved a major initiative to deliver all public services through an integrated digital platform under a “One Citizen, One Card” framework, which is expected to simplify tax processes and reduce corruption.
Calling on trade bodies to support efforts to increase the tax-to-GDP ratio, he said businesses should help bring those outside the tax net into the system to ensure fair competition.
The finance minister assured that the government does not believe in a patronage-based economy. He said it believes in the democratisation of the economy, where all businesses will have equal opportunities.
He also called on trade bodies to support efforts to expand the tax base for a fairer and more competitive business environment.
“If the private sector prospers, Bangladesh prospers,” he said, adding that the government will continue dialogue with stakeholders to address financial and administrative challenges.
