A comprehensive study is required in order to set strategy for the future of Dhaka’s economic growth.
Economists, urban planners and businesses stressed the need for such a research to bring in an equal development for the capital and its suburbs that will ultimately fetch the country a middle-income status.
The recommendations were made at a stakeholder dialogue on “Dhaka’s Economic Future: Opportunities and Challenges” held in the capital on Thursday.
Dhaka Chamber of Commerce and Industry (DCCI) and Power and Participation Research Centre (PPRC) jointly organised the dialogue to discuss the issues of economic growth of the capital.
“There is information about the city’s poverty, sanitation, education and other issues, but no city-based analysis on economy,” said Prof Nazrul Islam, a prominent urban planner.
“We should know about the capital’s economic potential. Economic investment planning is very important. For that purpose, a comprehensive study on the economy of Dhaka is required,” said Islam.
“Dhaka has a great economic potential which is still untapped. Dhaka could be the best connector for other parts of the country,” said Hossain Zillur Rahman, PPRC executive chairman.
“Livability is not just a social concern, it is also an economic concern. Dhaka’s economic vibrancy is high but untapped. We have set plan considering the aspects,” said Hossain Zillur Rahman.
“The equal development of Dhaka as well as its suburbs would help us attain the middle-income country status.”
He suggested that RAJUK should consult with business community to include economic plan in its master plan. If health, education, transportation and housing system improve, other cities of the country will gain the same economic potential like Dhaka.
Zillur emphasised the need for cluster-based economic zones in the capital to make it a connectivity hub in the country.
“Dhaka is one of the fastest growing cites in the world, but too many authorities and bureaucracy sometimes hamper speedy infrastructure development,” Martin Rama, World Bank chief economist, South Asia Region, said in his keynote presentation.
The economic potential of greater Dhaka is immense and a proper policy guideline can tap these opportunities, he added.
“There is a strong query for data and we will have it to share by next two to three months,” Martin said, adding that efforts are on to bring everything under a single platform.
“Dhaka Chittagong Economic Corridor can be one of the solutions to decentralisation of Dhaka,” said DCCI president Abul Kasem Khan.
There is a common perception among the mass population that ‘Dhaka is Bangladesh and Bangladesh is Dhaka’ as everyone wants to rush to the capital for livelihood, added the business leader.
“We have to come out of this perception. For economic activities, the government should focus on the entire country without distinguishing between urban and rural areas.”
The DCCI boss stressed the necessity of acquiring knowledge about formal and informal economy of the capital as about 70% workers are employed in informal sector while the size of informal economy remains unknown.
Policies are too much centralised to Dhaka while the quality of public works are horrible and there is a lack of accountability and coordination,” said Abdul Haque, managing director, Haq’s Bay Automobiles Ltd.
It is high time that institutional reforms got to be done in the best interest of Dhaka’s future cultural and industrial growth, Haque added.
About 33% revenues come from the Dhaka city, but all the activities are unplanned, said Md Abu Bakar Siddique, a businessman.
The city is not planned, but the business is planned, he said, calling for a planned city.
Sunday, March 16, 2025
