The Government of Bangladesh, extending on its Vision 2021, made the pledge to drive Bangladesh over the boundary of middle income country and enter the realms of first world nations in 2041, riding on the fast turning wheels of peace, democracy, development and progress. There is little doubt the Vision is highly ambitious but it is also entirely feasible. In fact, with sound macroeconomic fundamentals, exemplary achievements on most of the Millennium Development Goals (MDGs) and as one of the potential contenders to achieve Sustainable Development Goals within deadline, one might even argue the country is ahead of the curve to becoming a developed nation by 2041.
However, that is not to say that achieving Vision 2041 would be an easy task …show more content…
As one of the key emerging economies, sharing the spotlight with Asian giants such as China and India, Bangladesh is steadily reaping the benefits from inflows of remittances, a strong performance in textile industry and a whole-of- government approach to structural reforms, particularly in the management of governance processes. The economy is enjoying the highest rate of sustained growth of over 6% since the days of independence. The structural reforms are having positive flow-on effects on investment and consumption. The country has halved the national poverty rate to 31.5% in 2010 from 59% in 1991, and the urban poverty rate to 22% from 45% in the same period . Both local and foreign investors and develop partners are increasingly seeing Bangladesh as a smart place to put their money, especially in the sectors of oil and gas, banking, telecommunication and power …show more content…
At present, removing the obstacles to private sector development and promoting a sound business climate is a core objective facing the Bangladesh economy. The Bank can don the mantle of an effective, honest broker and harness the current increasing confidence in the sector to improve the investment climate for both domestic and foreign investors. The Bank should make an effort to mobilize finance for deserving innovative private sector projects that build productive capacity and create economic growth.
ADB has a long history of supporting the education sector in Bangladesh and it should continue to do so. Currently the focus remains on primary and secondary education. In addition, the Bank now prioritize science and technology focused vocational training that will better align worker skills with the demands of the job market, thereby allowing Bangladesh to link into global supply
However, that is not to say that achieving Vision 2041 would be an easy task …show more content…
As one of the key emerging economies, sharing the spotlight with Asian giants such as China and India, Bangladesh is steadily reaping the benefits from inflows of remittances, a strong performance in textile industry and a whole-of- government approach to structural reforms, particularly in the management of governance processes. The economy is enjoying the highest rate of sustained growth of over 6% since the days of independence. The structural reforms are having positive flow-on effects on investment and consumption. The country has halved the national poverty rate to 31.5% in 2010 from 59% in 1991, and the urban poverty rate to 22% from 45% in the same period . Both local and foreign investors and develop partners are increasingly seeing Bangladesh as a smart place to put their money, especially in the sectors of oil and gas, banking, telecommunication and power …show more content…
At present, removing the obstacles to private sector development and promoting a sound business climate is a core objective facing the Bangladesh economy. The Bank can don the mantle of an effective, honest broker and harness the current increasing confidence in the sector to improve the investment climate for both domestic and foreign investors. The Bank should make an effort to mobilize finance for deserving innovative private sector projects that build productive capacity and create economic growth.
ADB has a long history of supporting the education sector in Bangladesh and it should continue to do so. Currently the focus remains on primary and secondary education. In addition, the Bank now prioritize science and technology focused vocational training that will better align worker skills with the demands of the job market, thereby allowing Bangladesh to link into global supply