Mahdi pledges business-friendly reforms to drive growth

Prime Minister's Adviser and Prime Minister's Office spokesperson Mahdi Amin has said the government's priority is to build a governance system that enables Bangladesh's young population to realise their full potential through employment, innovation and entrepreneurship.

Speaking at the BAYLA Future Summit in the capital on Tuesday, Mahdi said the country's largest demographic group–its youth–expects policies that foster talent, creativity and ambition, alongside a business- and investment-friendly environment that generates jobs.

He said the government's recently announced budget reflects this commitment by placing employment creation at its core.

Addressing entrepreneurs, he said the government aims to create a supportive ecosystem for businesses by encouraging new industries, simplifying bonded warehouse facilities, reducing bureaucratic hurdles, lowering the cost of doing business and improving the overall ease of doing business.

"As a new government, we are committed to introducing these positive changes," Mahdi said.

He also focused on the need for inclusive development that narrows the gap between urban and rural areas through fair and equitable development projects. Stressing good governance, he said Bangladesh must move away from the "culture of mega corruption" associated with large infrastructure projects in the past.

Amin said the government's primary investment would be in human capital rather than infrastructure, with education, healthcare and skills development receiving priority in the national budget.

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While acknowledging Bangladesh's competitive advantage in low labour costs, he noted that bureaucratic complexities and other factors have increased the cost of doing business. He said the government would gradually reduce these costs during its tenure.

Highlighting the importance of technology, Mahdi said Bangladesh must embrace innovation in processes, products, research and development while ensuring that technological advancement enhances productivity without causing unemployment.

He said the government aims to strike a balance between technology adoption and job creation so that higher productivity and economic growth translate into expanded business opportunities and increased employment.