Returning to Bangladesh after more than a decade is both a homecoming and a rediscovery for me. I see a country alive with the energy of resilient youth and shaped by a relentless spirit for progress.

This Bangladesh holds within it the promise of becoming a beacon for the region -- a nation poised to take its place among the world's great stories of progress.

But as someone who has walked the corridors of the domestic telecom industry since its formative years, the experience has given me a multi-dimensional perspective on its journey.

I am reminded that connectivity is not just a service; it is the invisible thread binding dreams to reality, powering economies, and bridging the distance between potential and achievements.

The telecom sector, a vital driver of the country's socioeconomic transformation, contributed around 1.05 percent of the national GDP in fiscal 2023-24, according to data of the Bangladesh Bureau of Statistics.

Furthermore, the telecom industry is one of the largest contributors of foreign direct investment (FDI). Since inception, approximately Tk 150,000 crore has been invested in the industry till 2023. Also, it has generated about 900,000 jobs, underscoring the crucial interplay between telecommunications growth and overall economic prosperity.

Despite all of its contributions, the sector is shadowed by structural constraints and regulatory uncertainties. Therefore, the question remains: Are we ready to give this sector the space and tools it needs to help Bangladesh soar into a digital future?

Imagine an eagle, born to soar among the clouds, yet its wings are clipped. Its eyes scan the horizon, but flight remains a distant dream. This is the reality of our telecom industry -- immense potential shackled by frameworks and inefficiencies.

A major obstacle is the unpredictable and unfavourable regulations along with micromanagement, which created a climate of uncertainty that hampers innovation and deters investment.

The industry, which thrives on agility and forward-thinking, is also bogged down by overly prescriptive policies, lengthy approval processes, frequent policy changes and a lack of clear dispute resolution mechanisms.

Despite Bangladesh being a promising market, such unpredictability not only delays progress, but poses risks and erodes investor confidence.

Besides, the fragmented licensing regime complicates rather than facilitates growth. Operators are prohibited from managing their own transmission infrastructure or constructing fibre networks. So, they instead rely on multiple intermediaries, often hindering service quality.

Moreover, the absence of uniform KPIs have created an accountability vacuum across the value chain. This fragmented value chain inflates operational costs, reduces efficiency and stifles accountability, ultimately resulting in customer dissatisfaction.

Without addressing these issues, we risk widening the digital divide and holding back the very communities that stand to gain. Therefore, it is worth reflecting on whether we are creating a regulatory environment that empowers the telecom sector to innovate and grow, or are we inadvertently letting these frameworks dictate its trajectory?

To unlock the telecom sector's potential, we need a regulatory framework that fosters innovation, encourages investment and promotes competition. By consolidating fragmented regimes and allowing operators to build and manage their own infrastructure, we can reduce inefficiencies and lower costs, ultimately improving service delivery. A shift from micromanagement to principle-based regulation would further empower the sector. Finally, a stable and predictable regulatory environment will add speed and efficiency in the journey of building a prosperous, inclusive digital society.

The choice before us is profound: Do we embrace a future where innovation thrives, investments flow, and opportunities expand, or do we accept a status quo that limits what it could be?

The author is chief corporate affairs officer of Grameenphone