Charting a path for sustainable growth amid economic transition: UN and private sector commit to renewed engagement

In a time of economic and political transition, the United Nations in Bangladesh convened a dialogue with private sector leaders to strengthen collaboration for sustainable development and inclusive growth. Held at the UN House in Dhaka, the event brought together business leaders, representatives from chambers and associations, and UN agencies to explore how joint action can support Bangladesh’s transition from Least Developed Country (LDC) status and accelerate progress toward the Sustainable Development Goals (SDGs) - at a time when bold, coordinated action is more critical than ever.

A moment of transition and opportunity

Opening the dialogue, UN Resident Coordinator Gwyn Lewis acknowledged the complex environment facing Bangladesh, including high inflation, cautious investment, and global trade uncertainty. The RC emphasized the importance of collective action:

“Bangladesh is in transition - but today showed the private sector is ready to lead,” said Ms. Lewis. “The UN is committed to walking this path with you - not just as a partner but also as a convener and facilitator. We’ll support concrete follow-up, technical deep dives, and real dialogue on energy, trade, governance and tax reform, finance, and gender inclusion”.

Private sector priorities

While acknowledging ongoing challenges, private sector leaders recognized recent positive steps by the interim government. Clearing a backlog of overdue payments helped restore business confidence, while rapid growth in digital financial services, like mobile banking and e-KYC, was seen as a boost for financial inclusion, especially for women and rural communities. Building on these positive developments, participants emphasized that with the right reforms and support, Bangladesh can turn current challenges into opportunities for more inclusive, resilient growth: 

• Strengthening governance and dialogue, especially during the political transition, by fostering more consistent engagement between the interim government and the private sector.
• Addressing energy shortages in industrial zones and investing in new gas exploration and renewable energy solutions.
• Revitalizing the financial sector through improved access to credit, interest rate stabilization, and strategies to reduce non-performing loans.
• Enhancing export competitiveness, particularly considering LDC graduation, by securing alternative trade arrangements and boosting productivity.
• Tackling social challenges, such as youth unemployment and barriers faced by women entrepreneurs, through targeted support, skills development, and inclusive financing mechanisms.

Several participants stressed the urgency of preparing for LDC graduation, noting the need for institutional buffers and a clear roadmap. The dialogue emphasized the importance of export diversification, especially in underutilized sectors like leather and agriculture, and called for reforms in governance, taxation, energy, and trade policy. There was a strong consensus on the need for a more inclusive, transparent, and institutionalized public-private dialogue platform to ensure continuity and trust.

UN support and strategic collaboration

The United Nations system in Bangladesh is already actively engaged in supporting private sector priorities across a range of areas - from industrial modernization and investment climate reform to human capital development and labor rights. During the dialogue, several UN agencies including UNDP, ILO, UNICEF, and UNIDO shared their ongoing initiatives and reaffirmed their commitment to deeper collaboration. Building on these efforts, private sector participants called for expanded and more coordinated UN support in several key areas. These included technical assistance for green energy transition, support for women entrepreneurs and CMSMEs, and strengthening the health and education sectors to reduce capital flight and improve human capital. 

“We need structured, ongoing engagement to ensure continuity and trust,” one business leader emphasized. Key proposals included developing a comprehensive roadmap for LDC graduation, launching a national branding strategy, and embedding the private sector into SDG monitoring frameworks.

Looking ahead

The dialogue concluded with a shared commitment to deepen collaboration and maintain structured engagement. A follow-up outcome document will outline concrete actions and mechanisms for continued partnership, including technical support for policy reform, sector-specific deep dives, and a roadmap for LDC graduation. Participants also called for the establishment of a dedicated secretariat to coordinate ongoing dialogue and ensure continuity - laying the foundation for a resilient, inclusive, and future-ready economy.