Bangladesh Emerging as a Global Investment Destination: Finance Minister

Finance and Planning Minister Amir Khasru Mahmud Chowdhury has said that Bangladesh is gradually emerging as one of the world’s next major investment destinations due to the government’s reform initiatives, strong leadership, quick decision-making and ambitious development agenda.

He made the remarks today while addressing a press briefing following a meeting of the National Economic Council (NEC).

The minister said the government has adopted a Tk 3 lakh crore Annual Development Programme (ADP) to revive the fragile economy and accelerate economic growth through large-scale investments, employment generation and infrastructure development.

Responding to a question about whether the new ADP was overly ambitious, he said development cannot move forward without ambition. He emphasised that investment is essential to overcome years of stagnation and economic challenges.

He added that the government is confident about implementing the large development budget due to strong political commitment and administrative efficiency under the elected government.

“We have already demonstrated within just three months that we are capable of taking quick decisions and implementing them effectively,” he said.

Explaining why the government opted for a large ADP despite inheriting a fragile economy, the minister used the analogy of a tube well. He said that when the water level of a tube well drops, water must first be poured into it before water starts flowing again. Likewise, investment is necessary to revive a weak economy.

The minister claimed that the government’s current economic strategy is receiving positive responses from international investors and financial institutions. Global investors, fund managers and international agencies are now closely monitoring Bangladesh, he said.

Referring to recent discussions with foreign investors, Amir Khasru said officials from JP Morgan expressed interest in investing in Bangladesh after observing the country’s leadership direction and policy approach.

He noted that the leadership’s firmness, dynamism and fast decision-making process are attracting investors and helping Bangladesh establish itself as a credible global investment destination.

On revenue collection, the minister acknowledged that Bangladesh’s tax-to-GDP ratio remains among the lowest in the world. He stressed that the country cannot build a strong economy without expanding its tax base.

He said reforms are underway at the National Board of Revenue (NBR) and efforts are being made to expand the tax network so that more citizens come under the tax system.

According to the minister, bringing more people into the tax net will help improve public services and strengthen social protection programmes for citizens.

He also defended the government’s targeted welfare initiatives, saying different programmes are designed for different groups of beneficiaries, including farmers and low-income families, through initiatives such as the “Krishak Card” and “Family Card.”

The minister reiterated that the government’s long-term development strategy places strong emphasis on employment generation, human resource development, healthcare, technical education and climate resilience to ensure sustainable economic growth.