insight

Mar 21, 2019 | Issue 212

NEWSLETTER

Bangladesh’s GDP growth to cross 8% for first time in FY19

Bangladesh’s GDP growth in the current fiscal year is set to exceed 8% for the first time, according to Bangladesh Bureau of Statistics, or BBS. After analysing the data for the first eight months of the year (July-February), the BBS estimates a record economic growth of 8.13% at the end of the fiscal year 2018-2019. According to media reports, Bangladesh's per capita gross national income (GNI) jumped more than 9% to $1,909 last fiscal year from $1,751 a year ago, showed provisional official figures released this week. Bangladesh’s GDP growth was 7.86% in the past fiscal year while the per capita income was $1,751. Under the able leadership of Honourable Prime Minister (HPM) Sheikh Hasina, the economic growth crossed 7% in fiscal 2015-2016 after almost a decade in the region of 6%.

Bangladesh celebrates 100th birthday of Father of the Nation Bangabandhu

On March 17, the 99th birth anniversary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and National Children's Day was observed yesterday in a befitting manner with various socio-political and cultural organisations holding diverse programmes across the country. The Honouable President and the Premier paid their homage by placing wreaths at the mazar (mausoleum) of Bangabandhu in in Gopalganj’s Tungipara. People from all walks of life thronged Bangabandhu Memorial Museum at the capital's Dhanmondi, and made a vow to work together following Bangabandhu's ideals.

HPM Sheikh Hasina condemn terror attacks

Honourable President Abdul Hamid condemned the shooting at two mosques in New Zealand and reiterated Bangladesh's steadfast commitment against terrorism. In a message, he said, “We are deeply shocked to learn the shooting incidents at two mosques in Christchurch of New Zealand. We strongly condemn this heinous act of terrorism”. In a similar message to the New Zealand Prime Minister Jacinda Ardern, HPM Sheikh Hasina expressed her deep shock over the attack on New Zealand mosques that killed at least 49 people, including five Bangladeshis, and injured more than 20. In a similar development, the Canadian premier phoned his Bangladesh counterpart and strongly denounced the terrorist attacks, urging the global community to stamp out terrorism.

Govt building overpasses at 4-way intersections: HPM Sheikh Hasina

HPM Sheikh Hasina said on Saturday her government is building overpasses at the places of four-way intersections to ease communications by mitigating traffic congestions. “From now on, we will be building overpasses at the places of four-way intersections for making communications smooth and easier alongside stopping traffic gridlocks,” she said while inaugurating three development schemes. “There will be no four-way intersections at the places are meant for roads or rails. Initiatives have been taken to this end,” she said.

Government plans maritime links with other states

The government is planning to establish cross-border maritime connectivity with other countries after neighbouring Kolkata, India. The shipping service between Bangladesh and Kolkata will resume on March 29 after a suspension of long 70 years. According to media reports, a set of plans are being devised for establishing maritime connectivity with Assam and various states of India along with other neighbouring countries. The government will establish maritime connectivity, not only with the countries of this region, but also with other countries of different continents.

Bhutanese HPM to visit Dhaka next month

Connectivity, increased trade and business, power and energy issues will get priority during the visit of Honourable Bhutanese Prime Minister Lotay Tshering who is expected to come to Dhaka in the second week of April. The Bhutanese premier is expected to visit here at the invitation of Prime Minister Sheikh Hasina to increase cooperation on trade, inland waterways, health and agriculture sector between the two countries, according to media reports. During the visit, a number of bilateral instruments are expected to be signed to increase cooperation on inland waterways for cargo transportation, health and agriculture sectors.

Bangladesh working on trilateral power project with India

Discussions are going on among Bangladesh, India and Bhutan to invest in a trilateral 1125MW hydropower project in Bhutan. Another trilateral hydropower project in Nepal by Bangladesh, India and Nepal is also under consideration. India and Bangladesh signed a memorandum of understanding (MoU) with GMR, an Indian company, in April 2017 for import of 500MW power from Nepal to Bangladesh. While speaking at an international conference on Tuesday, Bangladesh High Commissioner in New Delhi Syed Moazzem Ali confirmed the trilateral investment, reads media reports.

$145 million project to renovate gas pipelines in city

Plans are laid out to take up a project to replace 2000 kilometres unfit gas distribution lines surrounding Dhaka at an estimated cost worth $145 million. The government is importing 500mmcfd of LNG. After supplying 350mmcfd in Chattogram, the supply of the rest 150mmcfd faces widespread systems loss in Dhaka due to old distribution pipelines. In consideration of the low-pressure problem, damaged gas pipeline and overburdened pipelines, the concerned authority has planned on improving gas distribution network in 60 areas in the first phase.

China will facilitate more investment in Bangladesh: Honoruable Envoy

Chinese Ambassador to Bangladesh Zhang Zuo said China would facilitate Chinese companies and SMEs to come to Bangladesh with more investments. “The Embassy of China in Bangladesh will work closely with DCCI (Dhaka Chamber of Commerce & Industry) to facilitate business together and to make innovations together. It will support DCCI as a bridge for communication with private industries,” the envoy said. The Chinese ambassador said this when he met DCCI President Osama Taseer at the DCCI this week.

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

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