Prime Minister Tarique Rahman on Saturday expressed optimism that Bangladesh's economy could undergo a positive transformation within the next four to five years if the government and the private sector work together to address existing challenges.

"There are problems in some areas, but if we work together, we can overcome them," the Prime Minister said while speaking at an interactive session with leading business leaders and industrialists.

The nearly four-hour meeting, which began around 10am at the Prime Minister's Office in Tejgaon, was organised by the Bangladesh Investment Development Authority (BIDA), PM's Deputy Press Secretary Hasan Shiplu said.

According to Shiplu, the meeting focused on improving the investment climate, addressing the energy crisis, resolving challenges facing the industrial sector, taxation and attracting foreign investment.

Business leaders highlighted issues related to electricity and gas supply, the tax regime, regulatory complexities and the need for a more investment-friendly business environment.

The Prime Minister said the government's goal is to work for the welfare of the country and its people, stressing that many of the economy's existing challenges can be overcome through close cooperation between the government and the business community.

He said both the government and entrepreneurs understand the existing economic challenges and assured them that the government is sincerely working to resolve them through continued dialogue.

Referring to previous meetings with them, Tarique Rahman said many of the issues raised by business leaders earlier have already been resolved, while the new concerns highlighted at Saturday's meeting will also be addressed.

"We all acknowledge that there are many problems. The government has at least demonstrated that it is trying. The government is not yet six months old, but we have already held several meetings with the business community. We are addressing sector-specific challenges one by one," he said.

The Prime Minister announced that the government will hold another meeting with business leaders within the next two to three months.

"The more we sit together, the better we will understand your problems and the easier it will be to resolve them," he said.

Tarique Rahman said open dialogue is the most effective way to identify solutions and voiced confidence that continued engagement between the government and the private sector could bring meaningful improvements to the country's economy within four to five years.

During the meeting, business leaders called for easier access to credit, greater policy support and a more business-friendly environment to facilitate investment and industrial growth.

They also appreciated a number of recent government initiatives and expressed satisfaction with the progress made so far.

Officials informed the meeting that of the 28 issues discussed during the previous consultation, decisions have already been taken on 21, while work on the remaining seven is underway.

Business leaders also presented a roadmap to raise Bangladesh's annual export earnings to US$100 billion by 2030. The government assured them of diplomatic support to help expand export markets and achieve the target.

Later, speaking at a press briefing after the meeting, PM Office Spokesperson Mahdi Amin said the government has decided to introduce 24-hour uninterrupted services at the country's ports to facilitate faster import and export operations and boost trade.

He said the decision will be implemented soon.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury, Home Minister Salahuddin Ahmed, Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood, Commerce, Industries, Textiles and Jute Minister Khandakar Abdul Muktadir, Road Transport, Bridges, Railways and Shipping Minister Shaikh Rabiul Alam, Prime Minister's Adviser on Finance and Planning Rashed Al Mahmud Titumir, Prime Minister's Advisers Mahdi Amin and Rehan Asif Asad, Principal Secretary Abdus Sattar, BIDA Executive Chairman Ashik Chowdhury, Bangladesh Bank Governor MD Mostaqur Rahman, senior government officials and representatives of leading business houses, including Apex, PRAN-RFL, Meghna Group, DBL Group, Incepta, RANCON, Pacific Jeans, ACI, Bay Footwear, Runner and Walton, among others, were Present.