Businesses have urged the newly formed government to take a series of steps immediately to revitalise the economy and restore confidence among entrepreneurs.
They said ensuring uninterrupted gas and electricity supply, effectively implementing reforms at Bangladesh Bank and the National Board of Revenue, and improving the overall law and order situation are crucial to stabilising the business climate.
Easing the flow of funds in the banking system is also essential, they added.
The new government formally began its activities on Wednesday, prompting business leaders to outline their expectations.
Mohammad Hatem, president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said the economy remains fragile due to widespread irregularities and looting in the banking sector.
“To turn the situation around, the government must formulate effective and timely policies. We need measures that will inject dynamism into the economy and rebuild business confidence,” he said.
Anwar-ul Alam Chowdhury Parvez, president of the Bangladesh Chamber of Industries (BCI), said the business community expects the new administration to accord due respect to entrepreneurs and take visible steps to improve law and order.
“The order situation is currently challenging. Certain business practices require reform. Although banks are following Bangladesh Bank’s prescribed construction policy, doing business remains difficult,” he said.
He stressed that adjusting lending rates is necessary to ensure growth, while bringing inflation under control is critical.
“Until inflation is contained, demand in the production sector will not pick up and employment generation will remain sluggish. The energy sector is also facing a crisis that requires immediate resolution,” he added.
Faisal Samad, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the apparel sector’s biggest challenge at present is the ongoing power and gas crisis.
“Many factories are unable to operate at full capacity. The government must come up with an effective short-term solution to ensure uninterrupted energy supply. In the long run, ensuring energy security would enable faster industrial expansion,” he said.
Samad also identified high bank lending rates as a major obstacle.
“Businesses are now borrowing at nearly 16 percent interest, which is placing immense pressure on the industrial sector. If lending rates are adjusted in line with inflation, production costs will fall and entrepreneurs will be encouraged to make fresh investments,” he added.
Parvez further underscored the importance of assessing global challenges, including the impact of US tariffs and Bangladesh’s upcoming graduation from the Least Developed Country (LDC) status in 2026.
“We urge the government to convene a review meeting involving all relevant stakeholders — business leaders, economists and secretaries — to take coordinated measures. Reforms at the National Board of Revenue should be effectively implemented to reduce the cost of doing business and enhance net revenue collection. These steps will strengthen the business environment and accelerate economic growth,” he said.
Hatem reiterated that restoring law and order and enforcing zero tolerance against corruption must be top priorities.
“These two issues are fundamental to reviving economic momentum and rebuilding confidence in the system,” he said.
