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Nov 29, 2021 NEWSLETTER |
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UN adopts historic resolution on Bangladesh’s graduation from LDC In a growing testament to Honourable Prime Minister (HPM) Sheikh Hasina’s leadership, the United Nations General Assembly has adopted the resolution on Graduation of Bangladesh from the LDC category. With the adoption of this resolution at the 40th plenary meeting of 76th UN General Assembly, Bangladesh completes all the procedures to graduate from the LDC category. This is a landmark achievement in Bangladesh’s development journey, which coincides with the celebration of the 50th anniversary of Bangladesh’s independence and the birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, according to media reports. Since assuming power in 2009, HPM Sheikh Hasina envisioned to transform Bangladesh into a middle-income country by 2021 and a developed country by 2041. She has led us from the front in this exciting journey despite the unprecedented challenges posed by the COVID-19 pandemic. |
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Braving odds, Bangladesh’s GDP stands at $411bn after base year revision 
Amid the recent slowdown in global economy on the back of Covid-19 induced lockdown, Bangladesh’s gross domestic product (GDP) has reached $411 billion in the fiscal year 2020-21, up 15.70% from previous FY’s, thanks to a new base year adopted by the Bangladesh Bureau of Statistics (BBS). Moreover, per capita income also rose to $2,554 in FY21 as per the new calculation, which was $2,227 as per the old one. The new base year uses data on about 144 crops while computing the contribution of the agriculture sector to the GDP, which was 124 crops in the previous base year while the investment-GDP ratio rose to 30.76% in the last fiscal year. Introduction and implementation of a set of visionary and prudent economic policies, under the leadership of HPM Sheikh Hasina, have largely been attributed to this successes. |
Following successfully tackling down the emergence of the first wave of Covid-19, the government has now issued warnings to all ports of entry into Bangladesh against the new omicron COVID-19 variant that is causing global concern. Moreover, a decision has been taken to suspend air travel with South Africa while all the inbound passengers will have to go through health screening at all land and air ports in Bangladesh. On the other hand, the free vaccination campaign, launched by the government early this year, going in full swing with a new target to administer 150 million doses of vaccine by January next year. |
At the directives of HPM Sheikh Hasina, the government is formulating a mega plan to construct eight expressways connecting the country's seaports and a few land ports to develop strong connectivity with neighbouring countries. The total length of the proposed four-lane expressways to be constructed on new routes instead of the existing ones will be 2,352 kilometres and only long-distance passenger and freight vehicles will be allowed to use the expressways paying tolls. A number of media reports laid out high optimism saying people will have a different Bangladesh from 2023 as three major development projects of the government including the Padma Bridge, Metrorail and Karnaphuli Tunnel will open that would boost up GDP by 2% and create a large number of jobs. |
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Nokia seeks to recapture past glory with Made-in-Bangladesh smartphones 
Nokia launched two locally manufactured smartphone models, aiming to grab this expanding market with hopes that people will again start looking forward to their beloved brand reminiscing the past. According to media reports, a factory at Bangabandhu Hi-Tech City in Kaliakair of Gazipur will be churning out over 9,000 Nokia handsets per month, including yesterday's G Series models of G10 and G20. Vibrant Software (BD) Ltd, a joint venture of United Kingdom-based Vibrant Software and Bangladesh's Union Group, received permission to assemble Nokia devices and set up the first factory to manufacture Nokia smartphones in Bangladesh. |
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ICT exports to fetch $5b a year 
In accordance with its electoral pledge of Digital Bangladesh, the Awami League led government has overseen a remarkable rise in the country’s information and communications technology landscape. Thanks to a set of initiatives, set in motion by Awami Legaue since 2009, the local business friendly environment has led to increase in exports of various fields and that includes ICT sector. The country which was once heavily reliant on ICT item imports now export them on their own. According to sources, at present the yearly income from this sector is over one billion US dollars and the country has set a target of five billion US dollars of income per year from abroad by exporting ICT materials.. At least 39 hi-tech parks are being developed across the country. Bangladesh plans to launch operations of eight new hi-tech parks this year. |
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Ctg port moves to make import delivery order paperless 
In a bid to automate procedures to cut time and business cost, the Chittagong Port Authority (CPA) is set to launch an electronic system from next month to enable importers to receive goods somewhat faster. The document in question set to be digitalised is called "delivery order", one of many papers used in the import process. Shipping agents and freight forwarders issue it to importers so that they can receive their consignments from the port. Businesses have to collect the delivery orders (DOs) by going physically to the offices of the shipping agents or freight forwarders, taking away a lot of working time, affecting delivery of the imports of businesses. |
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BANGLADESH AWAMI LEAGUE |
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