As Bangladesh prepares for the polls in early 2026, a coalition of civic groups is trying something ambitious: building serious conversation and consensus on economic reforms before the election campaign begins in earnest and serious policy discussions take a back seat.
The Economic Reform Summit, scheduled for Oct. 27-28 at the Lakeshore Hotel in Dhaka, represents an unusual effort to build consensus on issues from investment barriers to youth unemployment — subjects that typically get buried under campaign rhetoric.
Organized by Voice for Reform, a civic advocacy group, along with the Bangladesh Research and Innovation Network, Innovision Consulting, the Citizen Coalition, and the FinTech Society of Bangladesh, the summit aims to bring together politicians, economists, business leaders, and policymakers to discuss reforms on issues that have constrained Bangladesh's development for years.
The initiative comes at a delicate moment. Bangladesh, a nation of 180 million that has long punched below its economic weight, faces growing pressure to diversify beyond its garment export base while creating jobs for a young population. Its graduation from least-developed country status, set for 2026, will strip away trade preferences, creating new challenges for its export sectors. The country's infrastructure deficit — from power generation to port capacity — constrains growth.
"The goal is to make economic reform the center of national dialogue," said Fahim Mashroor, a prominent tech entrepreneur and the summit's chief coordinator.
The guest of honor is Amir Khosru Mahmud Chowdhury, a senior member of the Bangladesh Nationalist Party's standing committee.
The agenda aims to tackle persistent structural weaknesses: regulatory barriers that discourage foreign investment, infrastructure deficits that hamper manufacturing, agricultural productivity challenges, and the obstacles facing small businesses. All are issues that economists and business groups have flagged for years, with limited results.
Bangladesh's economy has expanded steadily over the past three decades, lifting millions out of poverty and earning praise from development economists. But recent years have exposed fragilities. Foreign direct investment remains anemic. Inflation has eroded household purchasing power. The country still ranks poorly on measures of business climate and institutional quality.
The summit's organizers are betting that a sustained public conversation — involving not just technocrats but political leaders who will shape policy after the next election — can generate momentum for changes that have stalled in the past.
The summit agenda looks to shed light on some of Bangladesh's major economic challenges, with dedicated sessions tackling issues that have been discussed for years but rarely addressed with conviction.
Investment barriers top the list. Despite attracting 550 foreign investors to a government summit in April, Bangladesh pulled in just $1.71 billion in foreign direct investment in the last fiscal year. While it saw a rebound, a nearly 20% increase from the previous year, for an economy worth approximately $450 billion, this is a pittance. Investors cite familiar obstacles: bureaucratic red tape, policy inconsistency, corruption, and regulatory opacity. This session will presumably revisit these complaints.
Infrastructure for industrialization addresses a fundamental constraint: You cannot build a manufacturing economy without reliable power, efficient ports, and adequate transport networks. Success stories exist—the Korean Export Processing Zone has attracted $700 million in investment—but these are exceptions. Power cuts persist. Port congestion adds weeks to shipping schedules. Everyone agrees that infrastructure needs improvement. Few agree on who should pay for it or how to navigate the thicket of land acquisition, environmental clearance, and political patronage that surrounds major projects. The session will likely focus on the challenges in this space.
Export diversification and market protection have moved from advisable to urgent. Ready-made garments account for more than 80% of exports, a dangerous concentration. Competitors like Vietnam and Ethiopia are gaining ground. Bangladesh's graduation from least-developed-country status in 2026 will strip away trade preferences creating new challenges for the sector. The country has talked about diversifying into leather goods, pharmaceuticals, and light engineering for years. Progress has been glacial, hampered by the same infrastructure and regulatory problems that plague other sectors. The session will likely discuss some of these issues.
Youth employment and migration present perhaps the most critical challenge. Bangladesh sends roughly 2 million young people into the job market each year. The formal economy absorbs only a fraction. The rest join the informal sector, remain unemployed, or seek opportunities abroad—often through dangerous, irregular migration routes. This isn't merely an economic problem but a social tinderbox. Creating productive employment for an expanding youth cohort is how countries maintain stability. Failing to do so is how they lose it.
Agricultural productivity and food security take on new urgency as climate change disrupts traditional farming patterns. Bangladesh remains heavily dependent on rice cultivation, but rising temperatures, erratic rainfall, and saltwater intrusion threaten harvests. Food security, once taken for granted, requires active management. The session will discuss some of these challenges.
Small businesses employ the majority of Bangladeshis yet face obstacles at every turn: accessing credit, navigating licensing requirements, and competing with informal operators who avoid taxes and regulations. Successive governments have promised relief. Compliance costs remain stubbornly high. The sessions on small businesses expansion will probably examine why the enterprises that employ the majority of Bangladeshis face obstacles at every turn.
The final session addresses poverty reduction and inequality. While Bangladesh has achieved impressive poverty reduction over two decades, inequality has widened. Many households remain vulnerable to economic shocks, as recent inflation has demonstrated painfully.
The Implementation Gap and A Narrow Window
Bangladesh's problem has never been a shortage of good ideas. What the country lacks is follow-through.
The organizers are billing this as more than a talking shop. They want to produce an actionable reform agenda that political parties can incorporate into their 2026 campaign platforms — and, crucially, that they will feel pressure to implement once in office. The hope is that engaging political stakeholders before the campaign begins might generate commitments that outlast the election cycle. It's an optimistic bet. Political incentives often run counter to sound economics. Reforms that threaten vested interests get watered down or abandoned.
Still, there are reasons for measured optimism. Bangladesh has defied expectations before. A country that many wrote off as a "basket case" at independence has reduced extreme poverty dramatically, built a globally competitive garment industry, and weathered political turbulence while maintaining steady growth.
The challenge now is different. Bangladesh has grown despite weak institutions, not because of strong ones. Its economic model—garments plus remittances—has delivered results but has limits. Sustaining growth requires better infrastructure, more consistent policies, and institutions that can implement reforms rather than merely announce them.
The summit represents a bet that civil society can push the conversation forward when government leadership falters. Whether political leaders will listen, and more importantly, act, remains uncertain. But the alternative—leaving economic policy to be decided by campaign rhetoric and post-election improvisation—has not worked particularly well in the past.
The gathering begins Oct. 27 at 9 a.m. Success will be measured not by what's promised in conference rooms but by what materializes in policy afterward. Whether the gathering produces actionable commitments or merely adds to Bangladesh's collection of well-intentioned policy papers remains to be seen. Previous investment summits have generated enthusiasm but limited follow-through. Political will, not policy proposals, is typically what's in short supply.
Still, the attempt to elevate economic reform above partisan politics, however tentatively, reflects growing recognition that Bangladesh's development model needs updating.
The summit's organizers are under no illusions. Two days of discussion won't transform Bangladesh's economy. But starting a serious conversation about structural reform, with political leaders engaged before electoral pressures take over, is better than the usual pattern of promising everything and delivering little. In Bangladesh's often chaotic political economy, even modest steps toward consensus count as achievement.
Registration for the event is open now. For schedule details and registration information, visit www.EconomicReformSummit.org.
