News Flash
DHAKA, April 8, 2025 (BSS) - Bangladesh could attract significant investments and create
millions of jobs by implementing essential reforms across four sectors, according to a World Bank
Group report released today at the Bangladesh Investment Summit 2025.
The new Bangladesh Country Private Sector Diagnostic (CPSD) report has highlighted that with
targeted policy actions, Bangladesh could create 2.37 million jobs annually in the construction
industry by supporting the construction of new housing units, generate over 664,000 formal jobs
by expanding domestic paint and dye production, and create between 96,000 to 460,000 new
jobs through digital financial services reforms.
The report identifies four sectors-green ready-made garments (RMG), housing for middle-income
families, paint and dyes, and digital financial services where policy actions can help remove
barriers to private investment. The report outlines specific, near-term steps the government can
take to attract investment in these sectors, generate jobs, remain competitive after graduating
from Least Developed Country (LDC) status, and strengthen the domestic economy.
World Bank Group today launched the report at an event at InterContinental Hotel in the city.
In the report, World Bank Group laid emphasis on upgrading production in the readymade
garments sector to comply with El requirements, focusing on greening. sustainability and labor
standards,
The group urged the authorities concerned to strengthen the regulatory framework for digital
mapping and property registration to improve access to mortgages by ensuring properties are
valued at market rates rather than outdated tax-assessed values.
They called for digitizing customs classifications on imported inputs for paint and dyes to
expedite clearance, enabling businesses to more easily comply with custom regulations.
They also laid emphasis on establishing protocols to enable mobile financial services for merchant
wallets with higher transaction limits, facilitating wholesale transactions and making digital
payments more accessible for businesses.
“The World Bank Group's Bindings offer valuable guidance for shaping policies and strategies
that promote private sector led growth. The interim government is dedicated to fostering growth
by creating a more conducive business environment and supporting emerging industries,
ultimately leading to job creation," said Chowdhury Ashik Mahmud Bin Harun, Executive
Chairman, Bangladesh Investment Development Authority (BIDA).
With new and emerging challenges, Bangladesh needs urgent and transformative policy and
institutional reforms to help firms expand domestically and compete globally and create millions
of jobs for its youth entering the labor market every year, said Gayle Martin, World Bank Interim
Country Director for Bangladesh.
“This Country Private Sector Diagnostic recommends concrete policy actions to overcome
barriers to private sector growth and job creation in the country. The World Bank Group stands
ready to collaborate with the government and all stakeholders to help Bangladesh stay on strong
and inclusive growth path,” she added.
"As part of the World Bank Group, IFC is committed to supporting Bangladesh to strengthen its
private sector and drive economic growth," said Martin Holtmann, Country Manager IFC,
Bangladesh, Bhutan, Nepal.
“The CPSD provides a strategic roadmap, identifying sectors and the key reforms needed to
enhance their competitiveness and attract investment by working together, we can create
opportunities to improve the livelihoods of the people of Bangladesh, to accelerate sustainable
economic development,” he added.
The Bangladesh CPSD launch was followed by a panel discussion on the report's findings by
Lutfey Siddiqi, Bangladesh Government's Envoy for International Affairs, and Chowdhury
Ashik Mahmud Bin Harun, Executive Chairman, BIDA, as well as private sector leaders,
including Arun Mitra, Head of Operations Nippon Paint, Kamal Quadir, CED, bKash, Selim
R.F. Hussain, Managing Director, BRAC Bank, Sharif Zahir, Managing Director, Ananta Group
and Srabanti Datta, Managing Director, ABC Real Estate.
