National Professor Mahbub Ullah has called for reducing Bangladesh's dependence on external financing and increasing domestic value addition to build a self-reliant economy and ensure sustainable economic development. He made these remarks as the chief guest at a seminar titled "Post-Budget Analysis of the National Budget for FY 2026-27 and Future Directions of Bangladesh's Economy" held at the Bangladesh University of Business and Technology (BUBT) in Dhaka. The seminar, organised by the BUBT Economics Club, brought together economists, academics, and policy experts to discuss the future of Bangladesh's economy. Professor Mahbub emphasised the need for Bangladesh to identify its primary sources of investable capital to accelerate development. He argued that five decades after independence, the country should move away from excessive reliance on foreign funding and build an economy based on its own capabilities and domestic value addition. Additionally, he stressed the importance of prioritising sustainable production and technological modernisation in the readymade garment sector, as well as the timely repatriation of export earnings to achieve genuine economic self-reliance.
The readymade garment sector is a significant contributor to Bangladesh's economy, providing a large portion of the country's export earnings. Technological modernisation in this sector could enhance productivity, improve product quality, and make the industry more competitive globally. Sustainable production practices would not only benefit the environment but also ensure long-term economic stability. Timely repatriation of export earnings is crucial for maintaining a healthy foreign exchange reserve, which is essential for economic self-reliance.
