Bangladesh can become a goldmine within 5-years: Commerce Adviser

Commerce Adviser Sheikh Bashir Uddin has said that Bangladesh can transform into a "goldmine" within five years with the right political leadership.

Speaking at the closing ceremony of a two-day international conference titled “The Future of Business: Innovation, Technology, and Sustainable Development” held at Hotel Radisson Blu in Chattogram, Sheikh Bashir highlighted the country’s potential for rapid economic growth.

He pointed out that although Bangladesh has abundant manpower, it faces a shortage of raw materials for manufacturing. He emphasized that students can help bridge this gap through acquiring knowledge and innovation.

“Ensuring labor productivity, utility proportion, logistic excellence, and access to finance and markets are crucial to overcoming the raw material shortage and achieving economic development,” Sheikh Bashir said.

The conference was organized by the Business Research Bureau of the University of Chattogram. The event was chaired by Vice-Chancellor Professor Dr. Mohammad Yahia Akhtar and attended by notable academics and industry leaders, including Pro-Vice Chancellor (Academic) Professor Dr. Mohammad Shamim Uddin Khan, Pro-Vice Chancellor (Administration) Professor Dr. Md. Kamal Uddin, Dean of Business Administration Professor Dr. Md. Taiyob Chowdhury, University Grants Commission member Professor Mohammad Ayub Islam, and Sonali Bank PLC Chairman Muslim Chowdhury.

Sheikh Bashir also reflected on recent market challenges following August 5, noting that many syndicate members fled the country, complicating supply chain management.

“Thanks to the government’s comprehensive efforts, the market was stabilized. After the fall of Sheikh Hasina’s government, Bangladesh repaid $6 billion in debts to various countries and institutions,” he said.

Under the leadership of Nobel Laureate Dr. Muhammad Yunus, all outstanding debts were cleared. Currently, Bangladesh’s foreign reserves stand at $30 billion, according to the trade advisor.