BM Desk Business leaders in Bangladesh have said that the country’s business environment and economic momentum cannot improve without an elected government in place. They urged that key policy decisions—particularly regarding labor laws and the formation of labor unions—be deferred until the next elected administration takes office.
At a seminar on economic reforms organized by an English-language daily at a hotel in Gulshan on Monday, the business community also appealed to the government to formally request a delay in Bangladesh’s graduation from the United Nations’ Least Developed Countries (LDC) list, citing current economic challenges.
The event was attended by Chief Adviser’s Special Envoy for International Affairs Lutfey Siddiqi as chief guest, and chaired by the newspaper’s editor Shamsul Huq Zahid. Science and Technology Secretary Md. Anwar Hossain and Export Promotion Bureau Vice Chairman Mohammad Hasan Arif were present as special guests.
Shams Mahmud, President of the Bangladesh Thai Chamber of Commerce and Industry, questioned the timing of recent labor-related decisions:
“Why are labor law and labor union decisions being made now? An elected government will take office in three months — such important decisions should be left to them.”
Echoing his concern, Mohammad Hatem, President of the BKMEA, said the economy was not yet ready for LDC graduation.
“Sixteen business organizations have already demanded a postponement. If necessary, the UN can assess the situation, and the government should make a formal appeal,” he said.
Dhaka Chamber President Taskin Ahmed warned that without a government chosen by popular vote, long-term economic stability would remain elusive:
“If an elected government does not come within the next 10 to 15 years, many problems will persist.”
BCMEA President Moinul Islam stressed that governance reforms were essential for restoring buyer confidence.
“No progress in trade is possible without good governance. Buyers are now anxious and reluctant to place orders. The only solution is an election,” he said.
Chief Guest Lutfey Siddiqi highlighted the government’s recent progress in improving business conditions, noting the introduction of a “single window” at the National Board of Revenue that has reduced in-person meetings by 1.2 million within two months.
Other participants included BGMEA Senior Vice President Inamul Haque Khan, BTMA President Shawkat Aziz Russell, UCB Chairman Sharif Zahir, Bangladesh Agro Chemical Manufacturers Association President K.S.M. Mostafizur Rahman, Midland Bank Managing Director Md. Ahsan-uz Zaman, and Akij Bashir Group COO Mohammad Khorshed Alam.
BTMA President Shawkat Aziz Russell said poor infrastructure and safety issues were deterring investors.
“Who will invest in a country where airports catch fire? The environment for foreign investment is simply not ready,” he remarked.
UCB Chairman Sharif Zahir warned that if the banking sector continued on its current trajectory, it might not survive more than two years.
“If default loan cases are not resolved quickly, even genuine businesses will suffer,” he added.
The seminar concluded with a consensus among business leaders that sustainable economic recovery depends on political stability, fair elections, and transparent governance.
