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Nov 17, 2016 |
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Bangladesh Prime Minister Sheikh Hasina came back home today after a three-day official visit to Morocco for attending two high-level segments of the world climate conference, known as Conference of the Parties (COP22). There, addressing world leaders, the Bangladesh Premier urged them turn decisions into actions to face the challenges of climate change. She warned that millions of lives will be at risk if Paris deal is not implemented. At the segments, the Premier also pitched for a global fund to achieve the SDG on water and called for addressing the migrant issue for success of SDGs.
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Bangladesh's economic growth will continue to grow at a strong pace at 7.1% in the ongoing fiscal year based on rising foreign direct investment in energy and transport infrastructure projects, reveals a London based firm BMI. The findings attributed the forecast to competitive labour costs, large export-oriented garment sector, and improved access to energy supplies. On the potentials of attracting foreign investment, Bangladesh will also succeed based on its favourable growth prospects and strategic geographical location, the report further added.
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Global climate experts, converged at the Marrakech Climate Conference (COP22), have lauded Bangladesh's efforts to cut carbon emissions, urging developing and least developed nations to emulate the success stories. According to media report, the experts suggested that Bangladesh deserves special appreciation from the global community as it has taken various steps to reduce carbon emissions to cope with the climate change impact though the country's contribution to the global volume of greenhouse gas emissions is very negligible.
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GROWTH AND DEVELOPMENT
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Yearly investment demand of US$ 12.5 billion has been created in the country's lone infrastructure sector under the Public-Private Partnership (PPP) amid scope of investment and widespread challenges in various sectors. According to news reports, PPP has so far attracted $3.5 billion with potential to scale it up to $400 billion by 2030. More than 77% of total investment is to come from the private sector for meeting the country's Sustainable Development Goal (SDG) target of achieving annual average growth of 7.4%.
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A mega project about $254.2 million has been undertaken for beautification and making the river Buriganga pollution-free. To be implemented in the next 20 years by the Dhaka South City Corporation (DSCC), this work will begin towards the end of the current month of November in the area from Babubazar Bridge to Sadarghat under a pilot project. Once implemented, this project will fresh life into the capillary of Dhaka, which is also one of the main avenues for water transport in and around the capital.
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TRADE AND INVESTMENT
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According to a new World Bank (WB) report, Bangladesh can become an export powerhouse at the level of its East Asian neighbors by improving its business competitiveness and trade regime, which will help firms compete globally. With support from governments, firms can improve their productivity and competitiveness by investing more in training their workers and managers, innovating to introduce new products and processes, as well as making greater use of the Internet to buy, sell, market, or manage their inventory, added the report.
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Manpower export from Bangladesh will get a further boost in the coming months, with opening of greater scope of sending more local workers to two major overseas job markets. While the process of sending workers to Malaysia would start in December, Saudi Arabia would also start soon taking more home workers as the cabinet of the Kingdom on Monday approved recruitment to this effect. During a visit to Bangladesh this week, Malaysian Human Resources Minister Datuk Seri Richard Riot, revealed that they will hire workers from Bangladesh in three sectors -- construction, plantation and manufacturing.
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INTERNATIONAL AND REGIONAL COOPERATION
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European Parliament's International Trade Affairs Committee (INTA) Chairman Bernd Lange lauded Bangladesh for shaping up the business landscape to overcome the economic setbacks caused in the aftermath of deadly collapse of Rana Plaza three years ago. Bernd Lange was leading a delegation of INTA representatives visiting Bangladesh, which also included Jean Lambert, the head of European Parliament’s delegation for South Asia. The official credited efforts put in place by the present government to bring in a complete overhaul in the health and safety aspects of work.
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Bangladesh has formally joined the "Green Club," a global platform for cooperation among solar-rich countries through signing the Framework Agreement on International Solar Alliance (ISA) in Marrakech, Morocco. This will widen opportunities for Bangladesh to collaborate with other member of this Alliance in the areas of solar technology, finance, research, innovation and development as well as capacity building. Bangladesh has 4 million solar home systems, with the fastest penetration rate globally, and the use of solar power plants is also becoming popular.
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DIGITAL BANGLADESH
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Bangladesh's ICT Division (under the Ministry of Post, Telecommunications and Information Technology) has achieved the 'Digital Government Award' from ASOCIO (Asian Oceanian Computing Industry Organization) this week as recognition of the government's services for enhancing accessibility to people's doorsteps using ICT. At the summit, held in Myanmar, the endeavors taken by the present government in this sector were highly appreciated by the sector's world leaders.
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Bangladesh will record 72% growth a year in e-commerce transactions in the coming days, given the unprecedented increase in internet use, says a study conducted by Kaymu Bangladesh. It stated that the primary driver of future e-commerce would be a sound logistics framework: better transportation, improved delivery experience, order management, inventory visibility and returns management. Along with the growth of domestic market, countries like Bangladesh will also benefit from cross-border shipments.
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