According to HSBC Global Research "The Flying Dutchman" report titled 'Asia's shoppers in 2030', Bangladesh's consumer market will surpass those of the UK and Germany, making it the 9th largest globally. "Bangladesh is expected to see the fastest growth in its consumer market – that is, the population earning more than USD20 per day in constant PPP terms – in the current decade. It is followed by India, the Philippines, Vietnam, and Indonesia”, according to latest report by HSBC. The sectors which reflect considerable growth in Bangladesh are – insurance, photographic and computer equipment, imputed rental and housing. Under Honourable Prime Minister (HPM) Sheikh Hasina, the country has witnessed a steady growth on key human development indicators as well over the space of last twelve years.
Bangladesh and Brunei signed four instruments, including an air services agreement, to elevate the bilateral relations to a new height. The instruments were signed in presence of Brunei Sultan Haji Hassanal Bolkiah and HPM Sheikh Hasina at the Prime Minister’s Office following the official talks between the two leaders. The three other bilateral instruments are: ‘MoU on the Employment and Recruitment of Bangladeshi Workers,’ ‘MoU on the Field of Cooperation in the Supply of Liquefied Natural Gas (LNG) and other Petroleum Products;’ and ‘MoU on the Recognition of Certificate Issued under the Provisions of the International Convention on Standards of Training, Certification and Watch keeping for Seafarers, 1978 as amended.’
The government is likely to simultaneously open 100 new bridges at the end of this month, giving a big boost to the country's road network. Most of the bridges have been constructed on regional highways and district roads and these would replace risky Bailey bridges and narrow and dilapidated ones. The Roads and Highways Department (RHD), the implementing agency of the bridges, has spent a huge amount to construct the bridges, which will increase the reliability and efficiency of its road network. The highest 41 bridges would be opened in Khagrachhari, followed by 18 bridges, including the long-awaited Kushiara and Surma bridges, to be inaugurated in Sunamganj.
Remittances stood at around $6.43 billion in three and half months in the current fiscal 2022-23, up about 9% over that in the same period of previous fiscal. In the same period of the previous fiscal, the figure was $5.88 billion, according to Bangladesh Bank data. Bangladesh received $769.88 million in remittance in two weeks of October (2-13). Meanwhile, the country received $22.07 billion in remittances in 2021, which was more than that in any other year in the history of Bangladesh, this inflow was $21.78 billion in 2020 and $18.33 billion in 2019.
According to European statistical agency EUROSTAT, despite the crisis in the global market, Bangladesh’s garments exports to European Union (EU) countries have increased by 43.38% in seven months from January to July this year. As per the statistics, EU’s imports from Bangladesh increased to USD 13.15 billion during the mentioned period while their global apparel import grew by 24.74%. EU’s Apparel import from the world was USD 56.33 billion while import from Bangladesh stood at USD 13.16 billion in Jan-July, 2022. EU’s import growth in July 2022 compared to July 2021 was 22.7% from world and 36.9% from Bangladesh.
Several economic zones in the country are gearing up to go into large-scale production this month, as 14 industrial plants, ready to enter full-fledged manufacturing, await official opening. HPM Sheikh Hasina will inaugurate the commercial operation of 14 industrial factories in five economic zones including the Bangabandhu Sheikh Mujib Shilpa Nagar, the country's largest, later this month. The 14 factories are expected to draw an investment of $1,204 million, of which $875.86 million has already been invested, according to sources at the companies and Bangladesh Economic Zones Authority (Beza), which is working towards establishing 100 economic zones in the country by 2030.
Rosatom Director General (DG) Alexey Likhachev said Bangladesh will be given high-powered nuclear reactor for Rooppur Nuclear Power Plant (RNPP) for the optimum electricity generation as he paid a courtesy call on HPM Sheikh Hasina. Fresh nuclear fuel will come to Bangladesh in October next year for the RNPP as well, he said. The expert made those comments when he met the Bangladesh premier at her official residence Ganabhaban here. Mentioning that they are training up the Bangladeshi people for the RNPP, he said “Russia is also interested to conduct research on nuclear science and technology in Bangladesh”.
Much to the relief of energy sector, more than 1000 megawatt (MW) of electricity will be added to the national grid from renewable energy within a year to resolve the present electricity crisis, according to media reports. “The country-wide electricity problem will be solved within three to four months as it will bring 1,000 MW solar energy within a year”, a top energy official was quoted as saying. Another plan has been set in motion to import 1500 MW power from India’s Adani Group’s Jharkhand plant and also to get 1000MW from Rampal power plant.
ILO's Assistant Director-General and Regional Director for Asia and the Pacific Chihoko Asada Miyakawa said Bangladesh has made impressive progress in its economic transformation away from least developed country status and will do no doubt to make progress in its socioeconomic growth with confidence. “It is with pride that I highlight the significant progress Bangladesh has made on workplace and industrial safety particularly in the readymade garment industry,” she said while speaking at a national seminar on "Fundamental principles and rights at work. The country is also recovering from the devastating and far-reaching impact of the global pandemic, she said, adding that ILO will also continue to support Bangladesh’s vision reflected in various policies to ensure that women and men migrants from Bangladesh have inclusive.

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