Genuine businesses should be prioritized, facilitated
Bangladesh's economy largely depends on three sectors. One is local agricultural produce, where I hope production will be good if there are no natural calamities. The other two sectors are exports and remittances from foreign workers.
The export growth we are seeing this year is likely to continue in the years ahead. Companies like ours aim to grow in the export sector by 25-30% in the coming year, and we are preparing accordingly. We are venturing into new sectors beyond garments, diversifying into markets like luggage, electronics, and many other avenues. We are also optimistic that wage earners sending foreign currency, which is already easing the dollar crisis, will continue to contribute. I am hopeful this crisis won't persist, and 2025 will be a promising year for us.
Regarding political stability, much will depend on how the interim government chooses to move forward. If they remain election-focused and stable, I am confident the economy will not be disrupted. Additionally, the steady recovery of local businesses after the unrest further strengthens my optimism.
About the dollar crisis, significant progress has been made to address it. In my view, crises like this can teach us to be more efficient. One positive outcome has been the reduction in less essential import bills and the tight rein on non-essential development projects that were draining dollars. If the focus remains on necessary projects and local manufacturers like us are well-supported, the future looks bright.
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On Trump's victory in the US election, I see this as a potential advantage for Bangladesh. Businesses in the US are already seeking alternatives to China. Countries like Vietnam, Cambodia, and Indonesia are poised to benefit from this shift, and I believe Bangladesh can also capitalise on these opportunities.
My foremost suggestion for 2025 is that, regardless of which government is in power, we as businessmen should not let ourselves be influenced by political affiliations. We must focus on our work and collaborate with the government to ensure they facilitate our efforts effectively. A businessman's identity should not be tied to their political preferences. Attempting to leverage political power can backfire. That said, I believe most businessmen love their businesses deeply, and any political affiliations they form are solely for the survival and growth of their enterprises. Our businesses are like our children, and we wouldn't want anything to harm them. I am certain thousands of other businessmen across the country would agree with me.
Finally, I believe genuine businesses, those that repay loans responsibly and genuinely contribute to Bangladesh's economy should be prioritised and facilitated. The interim government, being free from political motivations unlike the previous regime, should remain unbiased and support businesses through a fair and transparent decision-making process.
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