STAR BUSINESS REPORT

The government aims to raise the creative economy’s contribution to the country’s gross domestic product (GDP) to 1.5 percent, viewing the largely untapped sector as a potential source of growth, jobs and export earnings, according to Finance Minister Amir Khosru Mahmud Chowdhury.

Speaking at an economic diplomacy conference in Dhaka yesterday, he said Bangladesh should invest more in culture, arts, entertainment and design to diversify its economy.

Drawing a comparison with the United Kingdom’s thriving creative industries, the minister said creative products and services generate significant economic value and serve as an important source of soft power.

According to UNCTAD estimates, the global creative economy accounts for about 3 percent of world GDP, or around $2.25 trillion. In India, the sector contributes around 1.5 percent of GDP.

“Bangladesh possesses strong creative talent but has yet to adequately protect, promote and commercialise it,” said Khosru at the conference, titled “Roadmap for Trade, Growth and Economic Diplomacy”, jointly organised by the foreign ministry and the Bangladesh Investment Development Authority (Bida) at Pan Pacific Sonargaon Dhaka.

In his proposed budget for fiscal year 2026-27, the finance minister outlined the 1.5 percent target, alongside a 10-year investment strategy and time-bound action plans aimed at creating 5 lakh new jobs in the creative economy.

Currently, there is little data available on how many activities such as performing arts, design, stand-up comedy and other creative pursuits contribute to the economy.

The finance minister said there are plans to establish a dedicated “theatre district” on 150 acres of land. Such a hub would create new opportunities for spending and economic activity while strengthening the country’s cultural influence.

He highlighted the budget’s focus on developing the creative economy by supporting artisans, designers, He