By now, Bangladesh’s ambitions as a nation are well known; from reaching middle-income status and graduating from a least developed country in the next couple of years, we intend to become a developed and smart nation a decade and a half later by 2041.
To that end, there is no alternative to innovation if we are indeed to succeed in reaching such an ambitious goal — as outlined by a recent high level panel discussion which called for innovative business models to be at the forefront.
Innovation is the lifeblood of any nation’s journey towards becoming a developed economy, and Bangladesh is no exception. In an era marked by rapid technological advancements, embracing innovation is not merely a choice — it is an imperative for Bangladesh’s growth and progress.
For example, Bangladesh has shown immense promise with its burgeoning start-up ecosystem. However, for our start-ups to reach their full potential, they must continue to innovate, and not just fall back in line.
The government’s role in providing incentives and creating an environment conducive to innovation cannot be underestimated. Streamlining bureaucratic processes remains a challenge for us, and as we continue to become a more prominent economy, it is imperative that this is addressed, along with offering tax incentives — these can be game-changers for aspiring innovators.
Embracing innovation not only drives economic growth but also positions the nation on the global stage as a hub of creativity and progress. The time is ripe for Bangladesh to seize this opportunity and embark on a transformative journey towards a prosperous and developed future.
Source: Dhaka Tribune.