Bangladesh at 50: Four Points for the Future

On this, our country's 50th birthday, I urge Bangladeshis everywhere to take control of our global narrative. We are a country born of blood and tragedy that has found a path forward after decades, yet outsiders are still defining who we are, what we have achieved and how we should proceed. Are we not capable of doing so ourselves?

The past decade has been incredible. Beyond the absurd GDP growth numbers (nearing 10% annualized), the country has seen its Human Development Index skyrocket. Obviously things are not perfect, but progress takes time. What matters is that we have a significant amount of direction! However, there is a lot more to do to take our economic and social growth to the next levels.

Here are four challenges to the people of Bangladesh, on the ground and globally, to better the Bangladeshi experience:

1) BUILD THE BRAND

Perception matters. The Bangladeshi brand shouldn't be about cheaper goods and labor—it should be about quality. Why shouldn't we be capable holding ourselves to the highest of standards as we move forward into the global economy? Why shouldn't we have our culture—food, film and music—proudly exported to our worldly neighbours? We must build a local tourism industry. We must get people excited about fuchka and chotpoti and kacchi biryani. We must tell our stories to the world and elevate the works of our artists. We must embrace our uniqueness and give others FOMO on what only we can offer.

2) CREATE WEALTH

Owning a business is not enough. Generating a profit is not enough. Wealth is created by benefitting from global capital liquidity, not by just providing a commoditized service for others. There are large vats of capital in the West and elsewhere waiting to be deployed in outsized opportunities like Bangladesh, and we have barely taken advantage of any of it. In order to access this capital, the already wealthy must be willing to learn how global capital flow impacts valuation (hint: it's not always about profit)—and the regulators need to think how we can all benefit by being more progressive and less protective. Every Bangladeshi, rich or poor, will benefit from more intelligent usage of local capital and access to smarter global capital with higher accountability. Once we start doing so, it will help us build globally respected businesses while increasing the purchasing power of Bangladeshis everywhere.

3) RECONNECT THE DIASPORA

We are arguably the most disconnected large-scale diaspora in the world. By building a stronger pathway for diaspora to reconnect and/or stay connected, we'll be able to benefit from years of experience and access to additional networks and capital. Those in the diaspora should recognize this country has changed significantly for the better, and there are a multitude of opportunities present. One bad experience 15 years ago doesn't indicate what the future holds. In addition, there is a new generation of Bangladeshis waking up every day around the world wanting to figure out their identity. Let's give them a way to come back home. At our core, no matter what passport we hold, we will always be Bangladeshi—and when we all come together, we will be stronger together.

And finally...

4) STOP MAKING EXCUSES

"We can't do this because of that." "Oh, that doesn't work in Bangladesh." "Bangladeshis have never been successful at this." We are not the only country in the world with problems, and our problems are not unique but universal. However, our desire to continuously think otherwise has become a crutch that allows us to empower mediocrity. The fact is simple: The only people holding ourselves back is us. Complaining is easy, but we must also offer solutions. Let's wake up, be proud and start doing the work.

Only by strengthening and controlling our global narrative will we be able to shape our collective futures.

At 50, Bangladesh is just getting started. Let this next decade be filled with opportunities for every one of us.