On the verge of a new record

Bangladesh is all set to exceed expectations when it comes to our economic performance. With an expected GDP growth rate of 7.65% -- which is significantly higher than the initial expected growth rate of 7.4% -- with each passing day, our economy shows its dynamism and resilience. Thanks to robust growth in the industrial sector and the exponential rise in the number of small and medium enterprises -- which have collectively contributed to over 50% of the economy -- this sort of growth was inevitable. Due to, in part, initiatives taken by the government, which have encouraged businesses to grow, it is hardly surprising that businesses have flourished to such an extent, and we have seen almost a million SMEs emerge over the last few years. However, the most important effect of a healthy economy is how the people are benefitted as a result. Over the last year, 1.4 million people have succeeded in achieving “paid employment” status, contributing to an overall increase in employment by 2.2%. While economic growth is commendable, our priorities should always lie with the true wellbeing of the people. It has become necessary that we continue to diversify our industries, as we have done by capitalizing on the ICT sector by creating IT parks, and that we explore newer avenues through which Bangladesh and its youth can make a mark on the global stage. It is through innovation and experimentation, and providing our citizens with the freedom to do so that Bangladesh can not only allow its economy to continue to expand, but also increase job creation. It is only by providing opportunities for the people that we can say we have succeeded as a nation.