Bangladesh will become the world’s ninth largest market in seven years

Bangladesh will become the world’s ninth largest market in seven years
Bangladesh will become the world’s ninth largest market in seven years

By 2030, Bangladesh will become the ninth largest consumer market in the world. Bangladesh is working with the goal of surpassing the established markets like UK and Germany and the current high-growth countries Vietnam or Thailand.

Bangladesh has set a target of becoming an upper-middle-income country by 2031 and a developed-rich country by 2041. And by 2040, the estimated per capita GDP will be 5 thousand 880 US dollars. Due to its strategic geographical location, Bangladesh can become a regional market hub of 3 billion people.

The government plans to raise the ratio of private investment to GDP to 31.43 percent by 2031. By 2025, the logistics sector alone will become a $90 billion market. Bangladesh now has a $350 billion infrastructure opportunity in the energy, water, logistics and transportation sectors, and by 2025, Bangladesh’s growing middle class and affluent will reach 34 million.

Prime Minister Sheikh Hasina has requested the members of Foreign Investors Chamber of Commerce and Industry (FICCI or FICCI) to attract foreign investment accordingly, highlighting some future possibilities around Bangladesh along with various steps taken by the government.

At the same time he told about his vision about Bangladesh. The current government has already done the necessary infrastructural development for Bangladesh to reach the peak of growth. Bangladesh has made great progress in communication system, energy, skilled workers, educated people.

Now the action plan where they want to reach Bangladesh in the future with these infrastructures has also been presented before the members of this organization that brings foreign investment. All in all, Bangladesh’s economic growth, structural development programs, investment-friendly policies, large domestic market have made it an attractive destination for investment, industrialization and export to many countries.

When asked to know, Executive Director of Foreign Investors Chamber of Commerce and Industry (FICI) TIM Nurul Kabir said, We are making all kinds of efforts to bring investment to Bangladesh. You have noticed that the Prime Minister has also highlighted that in his speech.

Prime Minister highlighted the infrastructural development of Bangladesh and said that everything has already been prepared, now bring your investment. We have taken this call of the Prime Minister very seriously and we have continued all efforts to bring more foreign investment to Bangladesh. Hope we succeed in that and Bangladesh can reach its desired goal. Bangladesh is the biggest employment place in near future.

Nurul Kabir said that the Prime Minister said that Bangladesh will be the center of the regional market of 3 billion people. We think Fiki will play a big role in making this a hub.

Fiki’s contribution to Bangladesh

Bangladesh Foreign Investors Chamber of Commerce and Industry (FICI) assists the Government of Bangladesh in attracting foreign investment while formulating frameworks and plans to build a prosperous Bangladesh. In the 60 years since its establishment in 1963, FIKI has helped attract investment from 35 countries to 21 sectors in Bangladesh. About 90 percent of foreign investment in Bangladesh has come through Fiki.

Meanwhile, the Foreign Investors Chamber of Commerce and Industry (FICCI or FICI) brings foreign investment to Bangladesh and ensures that those foreign investments are properly utilized and contribute to the overall economy of Bangladesh.

Already, 80 percent of the foreign investments that have come to Bangladesh through FIKI have come through this institution. Employment opportunities for 50 lakh people have been created due to the foreign investment brought in by FIKI. Fiki’s contribution is behind the 20 percent investment in Bangladesh’s stock market.

Through Fiki, 102 water treatment plants have been constructed to provide safe drinking water to 3 lakh people in 31 districts of the country. Through which 5 lakh 30 thousand liters of safe water is being supplied every day. FIKI has installed 2 thousand 590 solar power plants in 29 villages.

In this, 13000 people are getting electricity in the hilly areas. FIKI is teaching 3 thousand students through 75 educational centers across the country. FIKI attracts investment in 21 sectors, including creating employment for 4,000 physically challenged persons.

These sectors include – banking and finance sector, cement and ceramic sector, chemical, construction and real estate sector, fertilizer and agriculture, software and telecommunication, power and energy sector, leather goods, ready-made garments, shipping and tea industry.

The article is in Bengali

Tags: Bangladesh worlds ninth largest market years


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