Globalization and Changing in Private Sector in Bangladesh.Doc
Now-a-days globalization brings challenges for Bangladesh and private sector of Bangladesh. By facing these challenges if private sector of this country could success then the country will receive opportunities of globalization. I would like to thank my course teacher Dr. Salehuddin Ahmed (Economic Condition Analysis) for giving us this opportunity for assigning us with this paper. It helps me a lot to know about the challenges and opportunities that Bangladesh and private sector of this country faced and received from globalization while I am making this portfolio. This portfolio helps me a lot to know each and every area where globalization brings opportunities for our private sector and those areas that facing …show more content…
The policy reforms in the 1980s, started under the Bank Fund conditionality, included mainly the withdrawal of food and agriculture subsidies, acceleration of privatization of state owned enterprises (SOEs), financial liberalization, withdrawal of quantitative import restriction, reducing import duties, withdrawal protection and open up domestic market for global competition.
In the early 1990s, the Government of Bangladesh implemented a series of economic reforms. Reforms were particularly aimed at moving towards an open economy. To promote foreign investment in the industrial sector fiscal policy, revenue policies as well as trade policy were reformed, removing virtually all controls on the movements of foreign private capital. As consequences of the reforms of 1990s Bangladesh economy has increasingly got integrated into the world economy since early 1990s.
From 1991 the elected government of, the BNP, introduced a new industrial policy, under which only air, travel, railways, production and distribution of power, and defense industries were reserved for the public sector. State owned enterprises in all sectors