1To suck up or pump up — to draw something upward by suction (liquid, dust, etc.).
掃除機でカーペットのゴミを吸い上げる。
I suck up the dirt from the carpet with a vacuum cleaner.
井戸の水をポンプで吸い上げて農地に引く。
They pump water up from the well to irrigate the fields.
ストローでジュースを吸い上げると、最後まで飲める。
If you suck up the juice with a straw, you can drink it to the last drop.
2To siphon off (profits, resources) — to extract or exploit wealth or resources from others (figurative).
大手企業が下請け企業から利益を吸い上げていると批判されている。
The large corporation has been criticized for siphoning off profits from subcontractors.
税制度の問題で富が一部に吸い上げられているという議論がある。
There is debate that wealth is being siphoned off to a few because of tax system issues.
3To take up (opinions, hopes) — to collect others' views or wishes and bring them to a higher body or discussion.
市役所は住民の意見を吸い上げて、条例改正に反映させた。
The city office collected residents' opinions and reflected them in the ordinance revision.
アンケートで現場のニーズを吸い上げることが重要だ。
It's important to gather needs from the field through surveys.