There is no limit to where Bangladesh’s economic standing could reach in the near future
With wages in China soaring, it is good to see that Bangladesh has become the go-to destination for Chinese manufacturers, providing a much-deserved boost to our economy.
While global forces and trade wars may have put certain countries at a disadvantage, it is up to us to ensure that we capitalize on this opportunity and build on our reputation as a nation that encourages foreign investment.
As we have said before, continued foreign direct investment will remain key for sustainable development in the future, and by encouraging foreign firms to bring their businesses here, we can ensure not only robust economic growth – which is slated to reach an impressive 8% this year -- but also improve the lives of the millions of workers who have made this possible.
At the moment, our RMG sector has, no doubt, been the driving force behind our noteworthy economic boost, but this will pave the way towards opportunities which allow us to diversify our production and export basket.
This has not come about overnight, and has required the government and the Bangladeshi people to put in the effort and nurture the image of Bangladesh as a manufacturing destination.
But such development does not come without its fair share of caveats. For one, when it comes to ease of doing business, Bangladesh’s ranking still remains poor, thanks to corruption and lack of congenial infrastructure.
We must tackle these issues head-on and create an environment which nurtures business growth, both foreign and local.
With a little help and hard work, there is no limit to where Bangladesh’s economic standing could reach in the near future.