A recent article, published by British daily the Financial Times, said the rise of Bangladesh as a "development success story," is "a template for a host of African nations." Bangladesh offers a glimpse of what is genuinely possible and a rebuke to those who see past national performance as a guide to future prospects, reads the article by David Pilling. Citing Charlie Robertson, chief economist at Renaissance Capital, the article put down the country's development success to three factors – literacy, electricity and fertility – all tests that Bangladesh passes. In his book "The Time Travelling Economist," Charlie argues that the prerequisites for industrial take-off are adult literacy above 70%, electricity supply above 300 kWh per person and a fertility rate below 3 children.
During a recent visit to Bangladesh by Chinese State Councilor and Foreign Minister Wang Yi to Bangladesh, Dhaka and Beijing signed four MoUs and agreements on different cooperation following an hour-long bilateral meeting with his Bangladesh counterpart Dr AK Abdul Momen. In addition, during a meeting with HPM Sheikh Hasina, the Bangladesh premier said South Asia, South East Asia and China could work together for economic progress by facing challenges arising from the Russia-Ukraine war. He said at the bilateral meeting, that China promised to give duty-free access of another one percent of Bangladeshi products in its market.
United Nations Honourable Secretary General Antonio Guterres has termed Bangladesh a friend of the UN and lauded Bangladesh’s socio-economic development under the leadership of HPM Sheikh Hasina. He said Bangladesh is a valued member of the UN and is making an important contribution to the work of the global body. The UN chief made the remarks when Ambassador and Permanent Representative of Bangladesh to the United Nations Muhammad Abdul Muhith presented his credentials to the UN chief in the UN headquarters recently. Over the space of last thirteen years, this youngest nation in South Asia witnessed a significant rise, outperforming its neighbours, on a number of different human development indices resulting in a significant rise in pulling out millions from vicious cycle of poverty.
The decision in Bangladesh had been taken following an uptrend of fuel oil prices in the global market in the current world situation driven by the ramifications of the Russian invasion of Ukraine. At the same time, the move comes as the state-run Bangladesh Petroleum Corporation has incurred a mammoth loss of Tk8014.51 crore in fuel oil sales over the last six months from February. If the global market becomes stable, the government said, measures would be taken to consider re-adjusting prices. Within a 40-km radius of the depot, according to the latest move by the Energy and Mineral Resources Division, the prices of per litre diesel, kerosene, octane and petrol were set at Tk114, Tk114, Tk135 and Tk130 respectively.
The first batch of 53 workers reached Malaysia this week (August 9, 2022) as the nation's labour market resumed recruiting Bangladeshi workers, thanks to successful labour diplomacy by the Awami League led government. According to the Malaysian government's new salary structure, they will get a salary of at least 1,500 Malaysian ringgit (equivalent to Tk 37,000) per month. According to media reports, It is expected that in the next three years, more than 500000 new workers from Bangladesh will be employed in Malaysia and through this, the total remittance sent to Bangladesh from Malaysia will exceed USD three billion. In addition, they will be entitled to all other benefits, including overtime, free accommodation, health insurance, accident insurance at the workplace as per the Malaysian law.
Bangladesh has experienced significant economic transformation, which can be attributed to its leadership from HPM Sheikh Hasina, reads an article published in The Express Tribune. Pakistan’s leadership can learn many lessons from Bangladesh’s experience and the main takeaway should be that Sheikh Hasina prioritised economic growth, which is crucial for both defence and democracy, reads the article. Sahibzada Riaz Noor in his article mentioned HPM Sheikh Hasina inaugurated the Padma Bridge recently and declared it a ‘symbol of pride and capacity. As early as 1992, Sheikh Hasina was involved in the economic issues and plans for Bangladesh, according to the article titled "Takeaways from Bangladesh’s leadership".
The dream of establishing road connectivity between the southwestern part of Bangladesh and the capital city came true after the opening of the long-waited Padma Bridge in June. But it will take time to make the most out of the country's longest bridge since a supportive infrastructure is yet to be built in the region, home to 21 districts. Unavailability of gas, low electricity infrastructure and narrow roads from Bhanga of Faridpur to the southwestern part are the major obstacles standing in the way of industrialisation in the area, according to businesspersons and experts. The government is taking measures to meet these needs to ensure an increase in investment in this region.


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