Finance Adviser Dr Salehuddin Ahmed. File Photo

DHAKA, Sept 23, 2025 (BSS) - Finance Adviser Dr. Salehuddin Ahmed has called on the private sector to take a more prominent role in generating employment and expanding into global markets, noting that the government alone cannot sustain long-term economic growth.

"Private companies -- rather than the state -- must be the main driver of employment. The government can only create jobs in a few areas. It is private sector development that will truly fuel employment," he said while addressing the 23rd edition of the DHL-The Daily Star Bangladesh Business Awards at a city hotel today.

Dr. Salehuddin stressed the need for the private sector to prepare for tougher global competition, especially as Bangladesh approaches its graduation from the Least Developed Country (LDC) category. 

"You have to be competitive. You must understand both global and local dynamics. We are working to support you through policy reforms, process simplification, and other instruments," he added.

Praising the entrepreneurial spirit of Bangladeshi businesses, the adviser said the country's private sector had shown "remarkable dynamism" in expanding internationally. 

"Performance is impressive - Bangladeshi products and services are reaching many countries," he said, sharing a personal anecdote of seeing Pran Chanachur on store shelves in Fiji. "This is how far Bangladesh has come. And this is all due to the efforts of our entrepreneurs."

As a former governor of Bangladesh Bank, Dr. Salehuddin acknowledged the fiscal challenges facing the government and emphasized the need to strike a balance between revenue generation and maintaining a business-friendly environment. 

"I get many requests to impose taxes, reduce taxes, increase cash incentives. But given our limited resources, we must proceed carefully. Still, we are committed to supporting the private sector," he said.

He also noted Bangladesh's growing credibility in the international business community. Referring to a recent meeting with the US Chamber of Commerce, he said multinational companies like Chevron and MetLife had expressed satisfaction with Bangladesh's record of settling financial obligations. 

"They are very happy. And that's thanks to you -- the business community," he remarked.

Dr. Salehuddin struck an optimistic tone about Bangladesh's development trajectory, saying the country is increasingly being seen as a positive case study. 

He said, "Bangladesh is now associated with progress, not poverty or hunger. We are in a satisfactory state." 

However, he cautioned that future governments must not stand in the way of necessary reforms.

He concluded by urging closer collaboration between the government and private sector. "Please join hands and we will always stand by your side," he said.

At the ceremony, DHL Express and The Daily Star honoured five outstanding individuals and institutions for their contributions to Bangladesh's economy. 

Ahsan Khan Chowdhury, Chairman and CEO of Pran-RFL Group, was named Business Person of the Year 2024 for his leadership in growing one of the country's leading conglomerates. Walton Hi-Tech Industries PLC received the Enterprise of the Year award for transforming Bangladesh's electronics market from import dependence to global competitiveness. 

City Bank was recognized as the Best Financial Institution of the Year 2024, while Sadia Haque was honoured as the Outstanding Woman in Business 2024 for her achievements as a leading entrepreneur. 

The Lifetime Achievement Award was presented to M. Anis Ud Dowla, Chairman of ACI Group, in recognition of his long-standing service and leadership in the nation's economic development.