Mamunur Rahman

The World Bank recently released two important reports. One is Industrial Policy for Development: Approaches in the 21st Century.

The interim government’s new SME reform package, though well intentioned, misunderstands the challenges facing genuine small businesses. One of the measures removes the rule requiring entrepreneurs to keep 10 percent of export proceeds in banks. While this may ease cash flow for established exporters, it obscures the reality for small businesses such as street-side artisans, tech startup founders and women running food processing units from home.

When Riaz Mahmud’s small textile printing factory faced obsolescence from an AI-powered competitor, he stood at a precipice familiar to millions of Bangladeshis: be rendered obsolete by the coming wave or learn to ride it. He mortgaged his home to import a digital printer, taught himself the software and transformed his business. His old workshop is silent, but a new and resilient enterprise now thrives.

Bangladesh’s economic success over the past two decades is remarkable, yet its foundation remains precariously narrow.

The news on Priya’s phone screen felt like a ghost. It was a report of numbers: poverty at nearly 28 percent, jobless growth. These figures seemed as remote from her life in the Korail slum as the glass towers of Gulshan. She had once believed in the “development miracle” of Bangladesh, leaving her village in the hope of joining it. Now it seemed that the miracle was a party for a select few, and she was left outside, looking in.

In recent years, many Bangladeshi teenagers have won gold medals on international platforms for their innovative business ideas. But the question remains: can we create an environment where they can truly grow and thrive? This is a crucial challenge for our nation. While our young people are globally competitive, the current system often fails to support them beyond the initial award ceremony. We must bridge the gap between potential and reality.

When Washington imposed a 50 percent tariff on Indian garments this week, it did not just rattle New Delhi. It cracked open a multi-billion-dollar market window that will not stay open for long. For Bangladesh, the stakes could not be clearer: move quickly and claim this ground, or watch rivals take it away.

In Rajbari, the shuttered doors of Salina Akter’s jute workshop tell the story of how artificial intelligence is reshaping global trade and leaving Bangladesh’s small businesses stranded. For five years, she stitched eco-friendly bags for European buyers. Then the orders stopped. Her clients now demanded AI-optimised production schedules, predictive inventory systems and delivery timelines that only automated supply chains can provide. Salina’s modest factory could not keep pace.