Bangladesh fertile ground for transformative ideas
"If you want to have a business with a purpose, along with the business we do, Bangladesh is the place."
Chief Adviser Prof Muhammad Yunus yesterday urged global investors to do business in Bangladesh because the country is the best place for investment.
For all latest news, follow The Daily Star's Google News channel. "Bangladesh is a country with crazy ideas to change the world… so we invite you to join that craft not only to change Bangladesh by your business but to change the world," he said while inaugurating the Bangladesh Investment Summit-2025 at Hotel Intercontinental.
The four-day summit is being organised by Bangladesh Investment Development Authority (BIDA).
"If you want to have a business with a purpose, along with the business we do, Bangladesh is the place."
Making money from business is happiness, but making other people happy is super happiness, he said.
"If you have a business in Bangladesh, you will get happiness and super happiness. You will be proud of what you have done."
Prof Yunus said Bangladesh and the whole region had powerful resources.
"Each of your companies can enjoy that super happiness by expanding and reaching out…." he said.
"We can create a world of 'Three Zeros'. It can be done by the business, not the government. The government cannot achieve that."
The new civilisation will be such a civilisation where there will be no carbon emission, he said.
Carbon emission is a self-destructive system, he said, adding that making money was fun, but concentration of wealth was the most dangerous thing to the human race.
He also focused on the need for zero unemployment, saying the young generation can change the world as they have technology and innovative ideas.
Commenting on how the readymade garment industry flourished, he said Bangladesh was a country of farmers many of whom were landless.
"Some crazy young guys from the universities dared to enter into something which is [now] happening in the country because of the business interest of other countries."
The crazy young guys began the journey of the garment industry in Bangladesh, he said.
About the journey of microcredit in the US, he said business in Bangladesh is not for Bangladesh alone.
"Who would have thought that microcredit, which started in a little village, would become a prime business in the US?"
Prof Yunus said millions of women take money from Grameen America by borrowing less than $1,000. Grameen America is growing very fast in the US, he said.
"Bangladesh's ground is very fertile. Put a little bit of seed, it becomes global."
He remembered Bangladesh's independence in 1971 and said 1974 was a year "we cannot forget" as about 1.5 million people died in a famine.
At the time, most of the people of the country were farmers who used to grow a single crop a year.
Bangladesh has come a long way from there, he said.
"It's an amazing journey...that Bangladesh came a long way in a very short time."
He also focused on the contribution of Grameen Bank and Grameenphone to eradicating poverty in Bangladesh.
About 100,000 poor women were selling mobile-phone services using Grameenphone, which helped them overcome poverty.
At the formal inaugural session, four Bangladeshi businesses were honoured with the first Excellence in Investment Award.
The winners are Fabric Lagbe, Walton, bKash, and Square Pharmaceuticals.
Baroness Rosie Winterton, UK's Trade Envoy to Bangladesh; Oscar Garca Maceiras, CEO of Inditex; and Apex Footwear Limited Managing Director Syed Nasim Manzur spoke at the event.
BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun made a presentation on the business and investment potential of Bangladesh.
The summit also aims to highlight the economic reforms following the July uprising, and create long-term investment pipelines for sustainable economic growth.
Lutfey Siddiqi, chief adviser's special envoy on international affairs, moderated the event attended by investors from around the world, top business executives and policymakers.
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