The government is establishing 100 special economic zones (SEZs) across the country and this will provide the perfect opportunity for growth of foreign investment in the country. Several services are also being provided to potential investors in order to ensure ease of doing business.
Once completed, SEZs are expected to create jobs for 10 million people and produce products and services worth US$40 billion. Undoubtedly, this will be crucial for our emerging economy and help us reach our development target within due time.
Previously, the Prime Minister highlighted the geographic importance of Bangladesh’s position, calling it a ‘lucrative economic hub’ between South Asia, China and South-East Asia. She further described the country as a moving towards becoming a high-value, knowledge-intensive society, beyond apparel and manufacturing.
Currently, we need foreign investment in diverse sectors such as artificial intelligence, automotive industry, electronics, light engineering and education.
As Bangladesh gradually transforms from a lowest income country to a middle income one, foreign investment is one of the key priorities as our economic growth is still on the rise. Moreover, we must shift our industry focus from manufacturing in order to attract invest in diverse sectors.
The government’s initiative to
establish 100 Special Economic
Zones is sure to attract foreign
investors from all over the world
In the era of the fourth-industrial revolution, Bangladesh must adapt to the changing trends in global commerce and put stronger emphasis on improving the IT and digital sectors.
One of Bangladesh’s biggest strengths is its youth population. With declining birth rates and aging population plaguing many developed countries such as Japan, Bangladesh must swoop in to utilize this opportunity by training its workforce in skills that are essential for the global industry.
The government’s initiative to establish 100 Special Economic Zones is sure to attract foreign investors from all over the world. Twelve of the zones are already functioning. A number of high-tech parks are also ready for technology and innovative enterprises
The plan of the government to transform the country into an economic hub by utilizing our geographic position will surely go a long way in ensuring the country’s progress and development.