Bangladesh needs swift reforms to stay competitive after LDC graduation: ICCB

Highlights:

• ICCB calls for urgent post-LDC reforms
• Mahbubur stresses new trade agreements
• Inflation, banking reforms among priorities
• Proposes Dhaka-Chattogram elevated expressway

Bangladesh needs to implement swift structural reforms to strengthen its economy and remain globally competitive after graduating from the least developed country (LDC) category, International Chamber of Commerce Bangladesh (ICCB) President Mahbubur Rahman said today (9 July).

Speaking at the 31st Annual Council of ICC Bangladesh in Dhaka, he said 2026 is a critical year for the country's economy as it prepares for the post-LDC era.

"Although exports, remittance inflows and infrastructure development have helped stabilise the economy, Bangladesh must act quickly to address domestic challenges and global economic uncertainties," he added.

He noted that the country's economic growth slowed to around 3.7% in 2025, mainly due to sluggish industrial activity, energy shortages and weaker private investment. "However, exports remained resilient while remittances rose to $32.8 billion."

Citing the International Monetary Fund (IMF), he said Bangladesh's economy is projected to grow by around 4.7% in 2026, adding that timely policy measures and reforms could further accelerate growth.

The ICCB president also said Bangladesh's large domestic market, strategic location, infrastructure development and entrepreneurial capacity provide strong opportunities for future growth.

He highlighted the potential of renewable energy, the digital economy, tourism and the blue economy.

Mahbubur stressed that controlling inflation, strengthening the banking sector, ensuring uninterrupted energy supplies, increasing government revenue and restoring business confidence should be key priorities.

He also called for accelerating bilateral and regional trade agreements to help Bangladesh maintain its competitiveness in international markets after LDC graduation.

To improve trade logistics, he proposed constructing a modern elevated expressway between Dhaka and Chattogram, saying it would reduce transport costs, speed up cargo movement and encourage investment.

He warned that geopolitical tensions, supply chain disruptions and increasingly restrictive trade policies worldwide are creating fresh challenges, making it essential for Bangladesh to diversify its export markets and explore new opportunities.

Mahbubur said Bangladesh could build a stronger and more resilient economy through coordinated efforts between the government and the private sector, backed by timely policy decisions.