Bangladesh is facing significant challenges in achieving the Sustainable Development Goals due to poor revenue generation, slow private investment, and institutional weaknesses, speakers cautioned during a recent event.
To reach its SDG targets between 2026 and 2030, Bangladesh will need around $421 billion. While the government is expected to fund only 14 percent of this amount, the private sector will need to contribute the remaining $362 billion.
Businesses are struggling with regulatory hurdles, policy uncertainties, inadequate infrastructure, and unreliable data. The tax-to-GDP ratio stands at 7 percent to 8 percent, way below the 15 percent target, posing a significant challenge to the country’s SDG ambitions.
During a session titled “Reforming Economy, Data Governance and SDGs (Goals 16 and 17),” AHM Jahangir, the additional secretary and wing chief of development effectiveness at the Economic Relations Division, stressed the importance of creating a conducive environment to attract private investments. He highlighted low tax collection, infrastructure deficiencies, and delays in project implementation as major obstacles.
The discussions took place at the conference “Navigating Five-Year Strategic Framework for Achieving SDGs: Policy, Partnership and Priorities,” organized by the General Economics Division of the Planning Ministry at the Bangladesh-China Friendship Conference Center.
Despite progress in some SDG indicators, Bangladesh continues to grapple with governance issues and macroeconomic challenges. M Masrur Reaz, chairman and CEO of the Policy Exchange of Bangladesh, pointed out declining employment growth and structural flaws exacerbating the situation.
Abu Ahmed, chairman of the Investment Corporation of Bangladesh, emphasized the importance of economic recovery before achieving SDG success, citing issues with exports, trade imbalances, and port inefficiencies.
The speakers also raised concerns about flawed statistics affecting policymaking and sustainable growth. They called for transparency and accurate data presentation to align policy decisions with real economic conditions.
Efforts are underway to improve statistical accuracy and public trust. The Statistics and Informatics Division is working on a microdata access policy and an advance release calendar for key economic metrics. Professional independence is deemed crucial for ensuring the credibility of official statistics.
While some SDG targets have been met, challenges persist in areas such as violence reporting rates and public perception of corruption. Addressing these issues will require comprehensive reforms and sustained efforts to rebuild trust in institutions and governance structures.