A 3R Strategy is unveiled in the new budget as government instrument to rebuild the country's shattered economy and spur sagging investment through restoring private-sector confidence.
The three-phased tactics called 3R Strategy stand for Recovery & Stabilisation, Restoration, and Reconstruction for Acceleration.
Finance Minister Amir Khosru Mahmud Chowdhury shared this information in placing the proposed national budget for FY'27 in parliament on Thursday, affirming government resolve to pull the economy out of "ruins" rendered during over one and a half decades.
The first phase, Recovery and Stabilization, will be implemented over a one-year horizon and focuses on restoring macroeconomic stability and protecting vulnerable groups from the immediate effects of economic shocks.
Key priorities in this phase include strengthening social protection programmes, improving public service delivery, simplifying business procedures, and enhancing coordination across public institutions.
The second stratum of the strategy, Economic Restoration, will be implemented over the medium term--three years--and will focus on strengthening the foundations of sustainable growth.
Priority actions here include reforming the revenue system, increasing domestic resource mobilisation, revitalizing private-sector investment, strengthening the banking and financial sectors, promoting export diversification, and enhancing human-capital development.
"Investments in agriculture, energy, and infrastructure will continue to support productivity and competitiveness," the finance minister illustrates this plan.
In the last phase, that is, Reconstruction for Acceleration, the focus will be on transforming Bangladesh into a modern, innovative, and technology-driven economy. This strategic action will be completed over five years.
During this concluding phase, emphasis will be placed on developing a highly skilled workforce, fostering innovation, accelerating digital transformation, strengthening institutions, deepening global economic integration, ensuring long-term energy security, and promoting climate-resilient and inclusive growth.
Through its 3R Strategy, the finance minister told the lawmakers, the government is placing the highest priority on improving the investment climate and restoring confidence in the private sector.
"Our primary objective is to identify and address the key constraints facing businesses through legal, regulatory, and institutional reforms, thereby reducing business uncertainty and the cost of doing business while ensuring investment security through an improved ease-of-doing- business environment," he adds.
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