Invincible Bangladesh in the story of silent success

Invincible Bangladesh in the story of silent success
Invincible Bangladesh in the story of silent success

Newsweek reports

In the latest edition of US-based periodical Newsweek, a special monitoring report on Bangladesh’s success in poverty alleviation has been published. According to the report, Bangladesh’s progress in recent years is remarkable, which is not the end but just the beginning. Bangladesh’s success has been described as a ‘silent success story’. According to the report, since independence in 1971, Bangladesh has been progressing steadily. Where Bangladesh was the second poorest country in the world. Bangladesh has made unprecedented progress since then. The World Bank has declared Bangladesh as a model country in poverty alleviation. And all these things have become possible due to the existence of democratic stability as well as being committed to protecting human rights and the environment. Highlighting the success of Bangladesh, the report said, from 2010 to 2020, Bangladesh has shown the success of achieving the highest GDP growth in the world. During this period, Bangladesh has managed to lift more than 25 million people out of poverty. Last year, the United Nations announced that Bangladesh will emerge as a least developed country by 2026. Only a handful of countries in the world have been able to show such success. The report mentions that the current government wants to make Bangladesh a ‘developed country’ by 2041. The recent progress of Bangladesh in the infrastructure sector has been highlighted in this report of Newsweek. It has been said that infrastructure development is the key to socio-economic development of a country. The government of Bangladesh has paid special attention there, moving forward with the decision to invest 40 billion dollars in development. Newsweek has described Padma Setu as a powerful example to understand which way Bangladesh will move in the future. They say the recently inaugurated 3.7 km road and rail bridge Padma multi-purpose bridge connects the underdeveloped region of Bangladesh (south-south western region) with the capital Dhaka. It is predicted that the country’s GDP will achieve an upward growth of 1.23 percent as a result of the bridge. Bangladesh government is trying to attract foreign investors on the basis of participation in infrastructure development projects. Foreign businessmen are invited to invest in Bangladesh. Bangladesh is also giving special importance to increasing export income. Describing Bangladesh as the world’s second largest exporter of ready-made garments, the report said, apart from ready-made garments, Bangladesh also exports leather, jute, IT services, pharmaceuticals and agricultural products. The Asian Development Bank forecasts that Bangladesh will achieve GDP growth of 6.9 percent in 2022 and 7.1 percent in 2023. The paper says in their report, despite macroeconomic stability, an open economy and plenty of opportunities, Bangladesh is relatively lagging behind in terms of foreign direct investment. According to UK-based firm Lloyds Bank, this is due to ‘negative misconceptions’. The Newsweek report described Bangladesh as an ideal destination for investors by reviewing the context of Bangladesh’s geographical location, natural resources, economic conditions of the people, private sector-led growth, strong foreign exchange reserves and easy investment environment (law) in view of Lloyd’s statement.

ABN/SA/JSIM


The article is in Bengali

bangladesh

Tags: Invincible Bangladesh story silent success

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