Yunus Seeks US Partnership in Bangladesh’s New Journey

Chief Adviser, Professor Muhammad Yunus, has called for US business leaders to partner with Bangladesh as the country embarks on a new chapter of progress. Speaking at a business luncheon on Thursday, Yunus expressed the government's commitment to improving the business environment through a series of comprehensive reforms.

“I am here to listen to your views and welcome your suggestions on how to enhance our investment climate. We seek your partnership in this new journey,” Yunus said during the event, which was organised by the US-Bangladesh Business Council.

Among those in attendance were Steven Kobos, Chairman of the US-Bangladesh Business Council, Ambassador Atul Keshap, the Council’s President, Foreign Affairs Adviser Md Touhid Hossain, and Energy Adviser Muhammad Fouzul Kabir Khan.

Yunus highlighted Bangladesh's significance, not only as a rapidly growing market of 170 million people but also due to its strategic location, close to the three billion-strong population of South and Southeast Asia, as well as China.

“No country is perfect, and Bangladesh is no exception. However, I see an emerging Bangladesh committed to upholding freedom and justice,” said Yunus, who is leading the Bangladesh delegation at the United Nations General Assembly.

Addressing the US business leaders, Yunus noted the longstanding economic ties between the two nations, stating that the United States is Bangladesh’s primary export destination and the top source of foreign direct investment (FDI). However, he expressed concern over the narrow scope of the trade basket and the concentration of investments in low-risk sectors like energy.

“As the US looks to diversify its supply chain under its Indo-Pacific Policy, Bangladesh is strategically positioned to play a key role in achieving that goal,” Yunus said, adding that Bangladesh would do everything possible to support the growth of US businesses alongside local enterprises to diversify the supply chain.

Yunus emphasized the importance of creating a stable and corruption-free business environment, noting that the interim government is focused on deepening economic and financial reforms following efforts to restore law and order. A committee of experts is preparing a white paper, expected by the end of December, which will establish benchmarks for the economy and propose necessary reforms.

“We are committed to addressing the inherent weaknesses in the revenue sector through these reforms, and our efforts are already gaining recognition,” Yunus said, inviting further input from US business leaders on how to improve Bangladesh’s business environment.

He stressed the importance of protecting workers’ rights and improving labour standards, noting that the government is working closely with the International Labour Organization (ILO), the European Union, and the US to implement a roadmap for raising labour standards in the country.

Bangladesh, Yunus continued, is dedicated to achieving sustainable and green growth by mobilising resources for climate finance and transitioning to renewable energy. He described plans to reduce carbon emissions by 22% by 2030 and generate 40% of energy from renewable sources by 2041, creating significant investment opportunities in sectors such as energy, water, transport, supply chains, and value chains.

Yunus estimated that environmentally resilient projects would require fresh investments of $7 to $8 billion annually. He also pointed to opportunities for technology transfer partnerships, particularly in the production of electric vehicles, green hydrogen, modernised power grids, and solar energy.

In addition to commercial ventures, Yunus encouraged investment in social businesses to address collective challenges such as climate disasters, flood control, public health, and other societal issues. These areas, he noted, represent an unconventional yet promising investment opportunity.