DHAKA, Dec 7, 2025 (BSS) - Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun today said that Bangladesh is poised to emerge as a major global consumer market by 2030, driven by its strategic geographical location.

“Nearly 2.5 billion people live within four hours of Bangladesh, creating economic expansion potential through neighbouring countries,” he said

The BIDA chief said at the inaugural ceremony of the 12th National SME Product Fair at the Bangladesh-China Friendship Conference Center in the city.

Ashik Chowdhury said while the economic revolution of the past century took place in Europe and America, the next century's economic expansion will occur in Asia. 

He mentioned that large investors in the country still view Bangladesh primarily as a manufacturing hub or factory location. 

However, a major challenge is the absence of backward linkages, which will affect sectors including mobile phones, the automotive industry, life engineering, footwear, textiles, garments, and leather, he noted.

He mentioned that Bangladesh is a young country, with an average age of just 27 years. 

Entrepreneurs in the country still have time to make long-term contributions to the economy, he added.

He said partial exporters are being offered benefits through bank guarantees, which will gradually help SMEs engage in fully integrated exports. 

He emphasised that the country needs diversification in exports, not just textiles and garments.

He also highlighted efforts against corruption and digitalisation initiatives. He said through websites and apps, businesspeople will be able to register directly online and access information.

The BIDA chairman said while some good work has already been done in the power sector and other areas, much progress is still needed.

Addressing the entrepreneurs participating in the fair, he said that an impressive 60% are women, which is highly commendable and important for the country.