Restoring competitive politics and a strong private sector is essential for building a sustainable economy in Bangladesh, said economist and CPD Distinguished Fellow Dr Debapriya Bhattacharya.
Speaking at a discussion on SDG implementation in Dhaka on Tuesday, he said, “The progress of a “New Bangladesh” lies in building a sustainable economy. To achieve this, a competitive economy and politics must be restored.”
He emphasized that while Bangladesh has made progress in sustainability, its achievements are often overlooked.
He stressed the need for a better business environment, investment support, and policy recognition to drive sustainable growth.
Debapriya also highlighted the lack of competition in business leadership, criticizing chambers of commerce for failing to hold elections. “Without competition, sustainable development is not possible,” he said.
Debapriya stressed that establishing a competitive market requires ethical entrepreneurship and responsible institutions.
He criticized the failure of various chambers of commerce in fulfilling their duties, stating, “Over the years, many chambers have not conducted proper elections, mirroring the lack of electoral competition in the country. Without elections and competition, achieving sustainable development is unrealistic.”
He also pointed out that many business leaders who spoke about sustainability were themselves involved in corruption. “It becomes mere rhetoric when the same individuals responsible for institutional leadership engage in corruption while advocating for sustainable development,” he remarked.
Moderating the event, CPD Fellow Mostafizur Rahman added that private sector growth is crucial for achieving SDG targets, urging industries beyond the garments sector to adopt sustainable practices.
Mostafizur Rahman, emphasized that both the government and the private sector must collaborate to achieve the Sustainable Development Goals (SDGs). “The private sector plays a crucial role, and without its development, achieving the SDGs will not be possible,” he stated.
He pointed out that Bangladesh has around one million manufacturing enterprises, yet only the ready-made garments sector has significantly prioritized sustainable production. “Other industries also have the potential to adopt sustainable practices. Awareness must be raised, especially among SMEs (small and medium enterprises),” he added.
