Sep 08, 2016

In the midst of a global economic meltdown, Bangladesh stood as an exception in South Asia for securing a steady and strong economic growth, resulting in an unprecedented rise in the living standard of its people. Over the last six years, the per capita income soared to an all-time high, alongside the national growth rate is projected to reach at 7.5% by end of this year. With all the key economic indicators yielded a healthy outlook, the country is emerged as the second largest foreign direct investment receiver in South Asia. Export earnings reached $34 billion while the balance of payments surplus (BoP) surged over 15% to $5.04 billion from the previous fiscal year.

To add further impetus in the building of the country’s biggest tunnel, the government has approved the proposal to award the US$ 37. 1 million project of supervising the construction work of Karnaphuli tunnel. The tunnel, which will be the first-of-its-kind in Bangladesh, would improve the Dhaka-Chittagong-Cox's Bazar road network. It can later be linked to the planned Asian highway network, enabling road links with Myanmar and India. The tunnel would significantly facilitate transit traffic, relieve the existing bridges of traffic pressure and promote regional economic growth.

Preparations are well underway to forge an agreement between the government and the World Bank (WB) for getting financial assistance worth $100million for improving college education across the country. The money will be spent on the College Education Development Project (CEDP), which aims to improve the teaching and learning environment of government and non-government colleges affiliated with the National University. Another target is set out to improve teaching and learning environment in participating colleges in order to ensure quality and relevant education.

Net foreign investments in the capital market trebled year-on-year in the first eight months of the year as overseas investors were anticipating a positive market scenario. Foreign investors bought shares worth US$ 389 million and sold shares worth US$ 332 million to take their net investment for the January-August period to US$ 56 million. Net investment by foreigners in the first eight months in 2015 stood at around US$ 18.3 million, according to Dhaka Stock Exchange data.

As part of stepped up efforts to root out the course of hunger from country, Prime Minister Sheikh Hasina introduced the country’s most ever generous food-aid initiative, allowing ultra-poor people to get rice at a very low price. Under the programme, titled as “Food-Friendly Programme for the Ultra Poor”, over 5 million poor people would get rice at Tk 10 per kilogram during the lean season. Special cards would be issued to poor people who would get 30 kg rice a month for five months -- March, April, September, October and November -- every year. An allocation worth over US$267 million was endorsed for the cause.

Bangladesh Awami League, the country’s oldest and largest political party, outlines a plan to induct in its manifesto a guideline to face the growing menace militancy and terrorism. Works are already underway to prepare such a guideline, which is expected to be placed before the 20th triennial council session, due on October 22-23. Several media outlets, quoting the party leaders, reported that, this move will step up the national campaign.

Bangladesh has been elected as the president of Asia-Pacific Information Superhighway (APIS) of United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) for next one year. The election was held at the conference of strengthening regional connectivity through the Asia-Pacific Information Superhighway (AIPS) in China on August 29-30. A total of 16 countries including China, Korea and Vietnam and 49 representatives of noted international organisations, members of ESCAP working and steering group and ESCAP international and regional partners took part the meeting.

The government has embarked on a project worth over US$ 156 million to connect 2,600 union councils through fiber optic cables. Under the “national ICT intra-network for Bangladesh government phase-III”, which is also known as Info Sarker-3 project, some other digital infrastructures will also be built at the union level. Meanwhile, another project is being rolled out to connect 1,100 union councils through fiber optic cables, at a cost of U$ 91 million.