We have only begun to scratch the surface of reaching our full potential
It is an extremely encouraging sign that the Wall Street Journal, arguably the most notable business newspaper in the world, has praised Bangladesh’s economic development in recent years, calling it “South Asia’s economic bull case.”
Indeed, over the past decade or so, exports have risen by 80% in the country, which is a testament to the prudence of the current government, led by Prime Minister Sheikh Hasina, and all the relevant stakeholders and authorities concerned who have, over the past 10 years, worked tirelessly to ensure this remarkable turnaround in exports, resulting in the upward trajectory of our economy.
Indeed, as we look forward to celebrating 50 years of becoming an independent country, we must never forget the dire condition Bangladesh was left in, back in 1971, as it began its journey as a sovereign nation -- war-torn, stripped of its resources, devoid of any infrastructure, facing a massive death toll including most of its notable intellectuals and luminaries, and famously slandered by Henry Kissinger.
That we have achieved all we have achieved despite the myriad obstacles along the way, proving the naysayers wrong along the way, is testament to the resilience of the Bangladeshi people and the efficient economic policies enacted by the government, particularly the current regime.
However, despite Bangladesh’s admittedly impressive growth, there remains so much more we can do, and we have only begun to scratch the surface of reaching our full potential. Our exports remain concentrated on the RMG sector, and we continue to face issues with regards to ease of doing business and attracting investment.
For Bangladesh to take the next logical step up in its economic journey, it must address these two issues but there is reason for the people to be hopeful that, just as it has silenced doubters in the past, it will continue to do so.