Dhaka [Bangladesh], January 3 (ANI): Bangladesh has showcased a “strong record of growth and development, even in times of elevated global uncertainty” under the leadership of Prime Minister Sheikh Hasina, Asian Lite International reported.
A “robust demographic dividend, strong ready-made garment (RMG) exports, resilient remittance inflows and stable macro-economic conditions” have backed rapid economic growth in the past 20 years.
Bangladesh’s capital Dhaka has undergone a “remarkable transformation” with construction in all directions and new flyovers, bridges and commercial sites. The 6.15-km rail-road bridge on the Padma River was formally inaugurated on June 25. It is the country’s biggest infrastructure since its independence, according to Asian Lite International. After 50 years, South Asia’s youngest nation Bangladesh has excelled to become the “bull case” for the region with Sheikh Hasina at the helm.
Within a short period of time, Bangladesh has witnessed growth from being a low-income and least-developed country to a lower-middle-income-developing country, according to Asian Lite International report.
From bringing millions of people out of the clutches of poverty and witnessing more than 6.6 per cent average economic growth to sheltering more than a million displaced Rohingyas from Myanmar, the days of Bangladesh being in the news only for natural disasters have gone.
According to the IMF, Bangladesh is now the 43rd largest economy in the world in terms of nominal GDP while its position is 32nd in terms of PPP, as per the news report. Bangladesh is also included in the top 10 fastest-growing economies globally, Asian Lite International reported. A projection by PriceWaterHouseCoopers has forecasted that Bangladesh will be the 28th largest economy by 2030, according to Asian Lite International.
In order to take Bangladesh’s growth and development to the next level, the Awami League government enacted the Bangladesh Economic Zones Act in 2010 setting up economic zones in various sectors to expand export-oriented industries and attract foreign investment.
On December 25, Bangladesh Prime Minister Sheikh Hasina said she accepted the leadership of the Awami League in view of the global economic situation, The Daily Star reported. She made the statement while exchanging greetings with party leaders and activists at Ganabhaban after being elected as Awami League’s President for the 10th time. “One must not take (leadership) responsibility so many times. But I accepted the responsibility considering the current global situation. You have to consider that I am getting older,” The Daily Star quoted Sheikh Hasina as saying.
Sheikh Hasina called people’s confidence and trust as Awami League’s ‘biggest strength,’ as per The Daily Star report. She stated that their party believes in the power of the people and urged the party leaders to give priority to strengthening Awami League. (ANI)
