Half a century after independence, Bangladesh has achieved impressive progress. The country has transformed from one of the poorest nations into a global textile manufacturing hub capable of meeting its medical needs almost entirely through domestic pharmaceutical production. The country will graduate from the least developed country (LDC) category in 2026 and aspires to be a high-income nation through industrialisation by 2041. Meeting this challenge requires accelerating economic transformation through diversification and innovation. This Production Transformation Policy Review (PTPR), implemented with the support and collaboration of the European Union (EU), and in partnership with the UN Conference on Trade and Development (UNCTAD), identifies concrete options for supporting Bangladesh’s development. It calls for leveraging digitalisation to address persistent fragilities and it advocates for a new pact based on shared responsibilities between the national government, the private sector and international partners to shift to a new development phase and ensure sustainable, smooth and irreversible graduation.