Policy Advocacy for Private Sector Development

Abstract

Bangladesh is going to be graduated from the LDC category in 2024. It is transforming from agriculture dependent into industrialized economy. Per capita GDP of Bangladesh rose to USD 1909 in last fiscal year. Bangladesh achieved the Millennium Development Goals (MDGs) remarkably. Now, Bangladesh prepared itself and started hard working to achieve the Sustainable Development Goals (SDGs). All of the previous achievements were results of both the private sector’s hard work and government’s policy supports. Similar joint effort (private & public) is required to achieve SDGs by 2030 and Vision 2041 as projected. The existing level of private-public integration may not be enough to achieve future projected targets, because till now importance of private sector development is not highlighted by the bureaucrats at different level of policy making. A large segment of bureaucrats don’t have proper knowledge about the importance of private sector in economic development of Bangladesh. Contribution of private sector is not duly recognized by the government bodies. As a result, private sector institutions are completely absent in the warrant of precedence till now.