An architect who changed Bangladesh from a low income country to a middle income country

  • Mon,21 Jan 2019 05:15:09 PM

British Asia News Network- AD

Dhaka: PM’s record electoral victory that got her power for a 4th time will not only take country towards prosperity along with neighboring India’s border but also open up a sea of opportunities regional partnership.

Last 10 years country has witnessed tremendous economic growth. Even opposition parties agree steady growth rate of 7% in the past decade has taken Bangladesh towards status of a middle income country.

Economy & FDI

Today Bangladesh is moving towards becoming 26th largest economy from the present 42nd by 2030, moving past Philippines, Pakistan, Vietnam and Malaysia according to HSBC report. The country has been enlisted into the Next Eleven countries by Goldman Sachs — South Korea, Mexico, Bangladesh, Egypt, Indonesia, Iran, Nigeria, Pakistan, the Philippines, Turkey and Vietnam — which are ready to become the biggest economies in the 21st century, after four of the five BRIC countries (Brazil, Russia, India and China).

In 2008, Hasina got landslide victory with her party’s manifesto, Charter for Change-Vision 2021. Hasina has shown how it is possible to venture into the Padma Bridge construction without any World Bank funding, defying opposition of all big powers. FDI trust in country’s economy is on the rise, data show.

Regional Connectivity

With strong trade, investment and connectivity linkages within the sub-region, Bangladesh can take advantage from new areas, new import sources of high quality and better-priced products, growing opportunities for transport and logistics services, said an Indian official, who did not want to be named.

Bangladesh is trying to connect in different projects through road, rail and sea routes with India. These connectivity projects can increase more trade choices for Bangladesh with the NE states of India. India is interested in road and railway transit through Bangladesh as it would lower the cost and time to send goods to its Northeast.

Bangladesh has an vast opportunity to transform itself into a regional transport hub not only for Saarc countries but also for China and other Asian countries, according to a senior official in Dhaka.

Previously Khaleda Zia Govt had strong doubts against connecting neighbours on the excuse that it would affect sovereignty of Bangladesh. It was the Hasina-led government that realised that granting connectivity and transit was a win-win situation for Bangladesh economy.

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