The interim government has initiated plans to bring ten multinational companies, including Nestlé, Unilever, and Syngenta, which are partly owned by the government, onto the capital market. The Finance Ministry has already sent letters to the relevant ministries and departments to facilitate this process. Analysts believe that if implemented, this move could have a positive impact on the economy, though necessary legal amendments are recommended to ensure smooth execution.

While capital markets are considered a backbone of any country’s economy, the situation in Bangladesh paints a different picture. Fluctuations in stock indices often leave retail investors frustrated with losses, and even well-performing companies hesitate to go public due to syndicate control and reliance on bank financing.

Faruk Ahmed Siddiqui, former chairman of the Bangladesh Securities and Exchange Commission (BSEC), said, “There are very few strong companies listed on our stock market, and their number is limited.”

In this context, the interim government has decided to directly list ten multinational companies—including Unilever Bangladesh, Novartis, Syngenta, and Nestlé—on the stock exchange. On August 14, the Finance Ministry sent directives to the Ministry of Industries, Ministry of Commerce, and the Power and Energy Division to take the necessary steps.

Industry analysts note that listing multinational companies could have a positive effect on both the economy and investor confidence. Professor Al Amin, a member of the Capital Market Reform Taskforce, said, “The entry of multinational firms into the stock market will reduce government dependence on loans and also improve market quality.”

However, Faruk Ahmed Siddiqui emphasized that legal adjustments are required to implement this plan effectively. He explained, “These are not fully government-owned companies. A government directive alone will not compel them to comply, as the government is a minority shareholder. The majority shareholders must be consulted and convinced. To make this enforceable, a law needs to be enacted to empower the government to issue directives, but such a legal provision does not yet exist.”

Previous efforts to bring state-owned commercial enterprises to the stock market have been attempted several times but never materialized.