Clicky
Opinion

Bangladesh’s growth journey: Opportunities and obstacles


Bangladeshpost
Published : 03 Mar 2021 09:00 PM | Updated : 04 Mar 2021 12:31 AM

Md Toufique Hossain and Shakil Bin Azad Romy

The global economy is developing at a breakneck pace. As a result, several driving forces have been established, including a safe climate, productive property, professional human resources, good governance, stable politics, and poverty reduction in order to achieve holistic growth. This, according to scholars, is the safest outcome for a country's economy to be sustainable. Many congratulations to Bangladesh, and particularly to the government's and people's unwavering efforts in transforming the country into a developing nation after 50 years of independence.

Bangladesh has recently made significant progress in terms of socioeconomic growth, especially in three areas: gross national income (GNI), human assets index (HAI), and economic vulnerability index (EVI). 

Despite the fact that the country is currently facing its most challenging period in recent memory because of COVID-19, the government’s swift response has supported the country in surviving the pandemic diligently.

Bangladesh is now at the pinnacle of growth under the able leadership of honorable Prime Minister Sheikh Hasina, just as the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman, led the country to the path of light after gaining independence. In addition, the Prime Minister's prophecy of self-financing the Padma Bridge, Metro Rail Project, uninterrupted power supply, poverty alleviation, food self-sufficiency, the national stimulus package, particularly for ready-made garments, etc. has led the country to this success.

There are some difficulties of being a developing country, such as the risk of losing duty-free access to export goods and the fear of losing donor-funded development funds. Also, the country may face some potential challenges in the aftermath of COVID-19. We hope the government will be able to tackle the post-COVID challenges successfully and it needs no mentioning that the graduation status would open new doors to greater investment prospects in the near future.


Shakil Bin Azad is a Deputy Director at TMSS and Toufique Hossain is a finance & economics columnist & strategist