Creative economy gets official status in FY26-27 budget, ‘One Village One Product’ launched

The government has for the first time recognised the creative economy as a key sector in the national economy in the FY2026-27 budget, introducing a series of initiatives including the “One Village, One Product” programme to promote cultural and creative industries.

The government has formally identified the creative economy as an important pillar of national economic growth, aiming to expand industries such as film, digital content, gaming, design and freelancing, Finance Minister Amir Khosru Mahmud Chowdhury said in Parliament on Thursday.

Presenting the FY2026-27 budget, he said the initiative seeks to integrate creative industries into the mainstream economy while promoting local heritage-based products through the “One Village, One Product” programme.

The government has set a target to raise the sector’s contribution to GDP to 1.5% and has already prepared a coordinated action plan involving government, private sector and NGOs.

A 10-year development plan is being prepared to establish regional creative hubs across the country. As part of this, a 160-acre Central Creative Hub is planned in Purbachal under a public-private partnership model.

Creative hubs will also be established at divisional, district and upazila levels, along with innovation centres in universities and colleges.

The initiative will also promote traditional crafts such as handloom, pottery, weaving, shitalpati, shataranji, woodcraft, handmade jewellery and terracotta under the “One Village, One Product” framework.

The government plans to form a National Pool of Designers and modernise the design centre under Bangladesh Small and Cottage Industries Corporation (BSCIC) in collaboration with universities and fashion designers.

A new national brand, “Created in Bangladesh,” will also be launched to promote local creative products in international markets.

TZ