insight

Dec 08, 2018 | Issue 208

NEWSLETTER

Bangladesh aims for 10% annual growth

Honourable Prime Minister (HPM) Sheikh Hasina said Wednesday that Bangladesh's rapid economic expansion will pick up further momentum to hit 10% annual growth over the next three years. Speaking in an exclusive interview with the Nikkei Asian Review ahead of a general election on Dec. 30, the 71-year-old leader said her nation will shed its "least developed country" status from 2024. She has overseen nearly a decade of consistent expansions of around 6% to 7%, with the economy growing 7.86% in real terms in the fiscal year that ended in June. Turning to the issue of the 800,000 or so Rohingya refugees who fled from Myanmar into Bangladesh from late 2016, epeated assurances that no refugee would be forced to return to Myanmar but called on other countries and multinational organizations to help resolve the issue. It is now the international community's turn to figure out "how to make Myanmar take back their people to their own country,"

HPM Sheikh Hasina 26th most powerful woman: Forbes' global list

HPM Sheikh Hasina has been ranked 26th in this year's Forbes list of the World's 100 Most Powerful Women. The US-based business magazine published its 15th annual list, available on the website of its Asia edition, on Tuesday. In the list, 20 personalities were named in the category of “politics” and HPM was sixth among them. “In 2017, [Sheikh Hasina] Wajed provided aid to Rohingya Muslim refugees fleeing Myanmar, allotting 2,000 acres of land in Bangladesh for the refugees. Now she is working on the safe repatriation of Rohingya to Myanmar, saying that Bangladesh can't bear the burden of permanent shelter,” the Forbes said.

Bangladesh going to be major part of global economy: Deloitte

Sustainable growth, young and energetic workforces and infrastructure development are helping Bangladesh to create an strong economic base which will make the country a large part of the global economy within 10 to 20 years, observed Deloitte, a global advisory firm. In the last decade, the country achieved remarkable successes in all social development parameters, such as gender equality, infant mortality and life expectancy. Talking to a media outlet, Board Member of the Deloitte Bangladesh Limited Joydeep Datta Gupta said Bangladesh is doing very well in all socio-economic parameters as the country is experiencing a sustained GDP growth rate of more than 7.5%, rising per capita income and improved social indicators.

Bangladeshi citizens to get on-arrival visa in China

China has decided to offer visa on arrival for the citizens of Bangladesh. The Embassy of China in Dhaka informed the home ministry about the decision in a note verbale on Nov 30, the ministry said in a statement on Tuesday. Chinese State Councillor and Public Security Minister Zhao Kezhihad pledged the facility at the request of Home Minister Asaduzzaman Khan Kamal during his Dhaka visit on Oct 25, according to the home ministry statement. On Nov 22, the embassy said in a statement that Bangladeshi citizens who are qualified and able to provide relevant supporting documents can apply for Chinese visa on arrival at its ports. The eligibility includes foreigners who need to enter China “urgently for humanitarian reasons, or who are invited to enter China for urgent business or rush repair work, or have other urgent needs, or who are organised to visit China as tourists by Chinese travel agencies”.

Inflation sinks to 18-month low

Inflation dropped to the lowest in 18 months in November on the back of a fall in non-food inflation. Last month, inflation stood at 5.37%, down 3 basis points from October, according to the Bangladesh Bureau of Statistics. The last time inflation was this low was back in March 2017, when it stood at 5.39%. The government has targeted to keep inflation within 5.6% in fiscal 2018-19. In November, food inflation rose 21 basis points to 5.29% from the previous month. This was preceded by a decline of 34 basis points in October from that of the previous month. Food inflation has been falling continuously in the past couple of months.

Bangladesh strategic US partner in region, says US envoy

US Ambassador to Bangladesh Earl R Miller described Bangladesh as a strategic US partner in the region and characterized the strong US-Bangladesh relationship as one driven by common interests. The envoy urged Myanmar to address the root causes of Rohingya crisis expressing strong support to hold accountable those responsible persons for the atrocities committed against Rohingyas in Myanmar, and welcomed Bangladesh’s continued commitment to returns that are fully voluntary, safe, dignified, and based on informed consent. Meanwhile, he has visited the Bangabandhu Memorial Museum, paying homage to the Father of the Nation Bangabandhu Sheikh Mujibur Rahman during his recent visit, the embassy said on its Facebook page. The house at Dhanmondhi 32 is the place where Bangabandhu was assassinated along with most of his family members on the fateful night of Aug 15, 1975.

Japan to give $4 million for primary education

Japan will provide $4 million as grants to Bangladesh for the Fourth Primary Education Development Programme aimed to impart quality education to all children from pre-primary to grade 5. The funding will help the government to improve the quality and equity of primary education through the Fourth Primary Education Development Programme. The program aims to reduce double-shift operations at schools by recruiting more teachers and building more classrooms, step up teacher education and provide needs-based training for teachers and teacher educators, reform examinations and assessments, as well as enrich teaching and learning resources such as with digital materials.

BANGLADESH AWAMI LEAGUE
23, Bangabandhu Avenue, Dhaka-1000. Bangladesh.

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