• Wednesday, Nov 13, 2019
  • Last Update : 01:29 pm

Building stronger alliances

  • Published at 12:02 am May 22nd, 2019
Japan and Bangladesh
Photo: BIGSTOCK

What is important is for the government to build stronger alliances

There is little doubt that, if Bangladesh is to continue to climb the economic ladder, and fulfill its short-term and long-term economic visions, it requires allies -- those who are able to recognize the potential that Bangladesh presents.

On that front, Japan has continued to be one of our country’s strongest supporters, and recently, Japanese Ambassador in Dhaka Hiroyasu Izumi reassured Japan’s continued assistance towards Bangladesh’s development. 

With the sum of assistance likely to be $2.5 billion over this year, which is a 35% increase from last year, it is clear that Japan has plenty of faith in Bangladesh’s development trajectory, and this should serve as strong encouragement for Bangladesh to continue to put in the effort to drive the economy forward.

In addition to Japan’s continued support, there are further signs of encouragement to be found in South Korea’s investment of $6m in the Mongla export processing zone (EPZ), with the hope that, just like Japan, South Korea too can become a notable ally for the country.

Though there remain significant issues and bottlenecks -- for example, its low ranking when it comes to Ease of Doing Business -- it is only through a forward-thinking, solution-seeking approach will we ever be able to tackle the issues that threaten to stagnate our growth.

What is important, therefore, is for the government and all other stakeholders to continue developing and implementing strategies to build stronger alliances, and give Bangladesh the best possible opportunity to achieve its economic goals.