Dec 14, 2021


Bangladesh: From ‘basket case’ to development model

From being a test case of development with over 80% poor population after independence, Bangladesh has emerged as one of the world’s fastest-growing economies in 50 years. The country attained the lower-middle-income status in 2015 and it is on track to graduate from the UN’s Least Developed Countries (LDC) list in 2026. Since assuming power in 2009, Honourable Prime Minister (HPM) Sheikh Hasina has been leading the country to outperform her neighbors on different economic and social progress indices over the last five decades. Per-capita income jumped to $2,554 in FY21 which was only $129 in 1972-73 fiscal year with the poverty rate falling from 88 per cent to around 20 percent in 50 years. Bangladesh’s GDP growth reached its peak at 8.15% in 2019 from a negative growth of 5.48% in 1971. Even amid the pandemic, the country posted an impressive 5.43% growth for FY21.

Bangladesh crosses the milestone of 100 million Covid vaccinations, issues fresh travel rules

Bangladesh has administered over 100 million doses of Covid-19 vaccines, nearly in 10 months after kicking off a nationwide campaign. The vaccinations first started on a trial basis on January 27 and later became a countrywide program from February 7. Incoming passengers from South Africa and six other countries have to stay in 14-day mandatory institutional quarantine at their own expenses in designated hotels. Additionally, while travelling to Bangladesh from anywhere in the world, passengers must have Covid negative test certificates done using RT-PCR machines, within 48 hours of starting a trip. The time frame was 72 hours before Omicron was detected, the notice added.

Forbes feature HPM Sheikh Hasina in 100 most powerful women list

Honourable Prime Minister(HPM) Sheikh Hasina has ranked at 43 in Forbes' 18th annual list of 100 most powerful women. The Forbes' 18th annual list of powerful women includes 40 CEOs, 19 world leaders, an immunologist and, for the first time in more than a decade, a new number one. While the people on the 18th annual list of the World's 100 Most Powerful Women come from 30 countries and territories and work across finance, technology, politics, philanthropy, entertainment and more, they are united by a sense of duty. She has been the longest serving prime minister in the history of Bangladesh, is currently serving her fourth term.

World Migration Report: Bangladesh 8th largest remittance receiving country in 2020

Bangladesh, with around 7.4 million of its people living abroad, ranked sixth in the list of top 20 countries of origin for international migrants, and was the eighth largest remittance receiving country in the last year, according to the World Migration Report 2022. Moreover, Bangladesh secured eighth in the list of countries with the most remittance inflow with some $21.75 billion. Despite living beyond the country's borders, the Bangladeshi diaspora has continued to play a key role in the country's development, said the IOM report. The World Bank (WB) estimates that the Bangladeshi population abroad sent home over $18 billion in 2019, with 73% coming from those working in the Gulf Cooperation Council (GCC) countries.

Bangladesh enters 5G era

Bangladesh entered the fifth-generation mobile technology (5G) era as the ninth country in the world. HPM Sheikh Hasina virtually spoke on the occasion, saying "we are launching 5G with Teletalk in limited areas. But we are working to spread the service across the country”. "4G network is now available in the country. With the help of high-speed network, people are now able to take digital services from anywhere in the country. It is also creating employment opportunities. From city to village, the number freelancers are growing in good numbers. All these are helping to build a socio-economic country," she added. With the theme 'New Era With 5G' HPM’s ICT advisor Sajeeb Wazed Joy as chief guest virtually launched the 5G service at a programme held this week.

Exports surge in Nov, fetch another $4b

Bangladesh's exports surged in November as it raked in $4.04 billion, reflecting the strong demand for apparels from the country following reopening of global economies from the severe fallout of Covid-19, official figures showed. This is the third time export earnings from merchandise shipment crossed the $4-billion mark in a single month in the country's history. Exporters brought home a record $4.72 billion in October and $4.16 billion in September. November's receipts were 31.25% higher, year-on-year, according to data from the Export Promotion Bureau (EPB), well above the target set by the government. Exports have been rising for the last few months as demand for the garment items produced in Bangladesh made a comeback.

Bangladesh sees highest growth rate in fruit production

Bangladesh has marked the highest rate of increase in fruit production among the world’s fruit producing countries, bringing a revolution in the country. The country is the 10th largest tropical fruit producer across the world, according to the Food and Agriculture Organization (FAO) of the United Nations. Fruit production in Bangladesh has been growing at a rate of 12.5% for the last 20 years, according to the FAO. Over the years, more and more fruit trees are being planted along roads, fallow land and in yards while commercial cultivation has increased over the last 10 years. The government introduced support of Year-Round Fruit Production for Nutrition Improvement project in 2014 to increase supply of fruit round the year to close nutrition gap.

Mega project for digital economy

The government is undertaking a mega project to create an enabling environment for the digital economy as it gears up for the Fourth Industrial Revolution. By narrowing down the gap between the physical, digital and biological spheres, the Fourth Industrial Revolution, or Industry 4.0, will be dominated by technological advancements that include intelligent automation, machine learning, the Internet of Things, smart machines, nanotechnology and biotechnology. Under this project, called Enhancing Digital Government and Economy, the objective is to establish a cloud-based infrastructure and software platform for participants in the development and expansion of the digital economy in Bangladesh.

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