B’desh emerging as economic powerhouse as Chindia: FM

[CaPtAiN_pLaNeT]

B’desh emerging as economic powerhouse as Chindia: FM

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Reported by: UNBConnect
Reported on: September 15, 2011 16:04 PM



Berlin, Sept 15 (UNB) - Foreign Minister Dipu Moni has described Bangladesh as gem of Asia and urged European entrepreneurs to invest more to develop the country’s energy and infrastructure through FDI and joint ventures.

“My request is to explore Bangladesh, which is an undiscovered gem of Asia, and reap maximum benefit by exploiting incredible opportunities,” she told businessmen and representatives of Berlin and Vienna Chambers of Commerce attending a seminar on Investment Opportunities in Bangladesh at Berliner Rathaus here on Wednesday.

Dipu Moni said Bangladesh, under the leadership of Prime Minister Sheikh Hasina, has reached a stable position and earned an enabling environment for business and investment by overseas investors.

“With the fast changes in global politics and economy, we also maneuvered rapidly by adjusting the course of journey through deregulations, privatisation and innovation in various sectors starting from political governance to financial, investment and industrial management,” she told the seminar.

Despite unrest in the international economic arena, the Foreign Minister said, the macroeconomic condition of Bangladesh has been stable and in good shape. She said Bangladesh experienced above 6 percent GDP growth continuously for many years while the economies of most of the countries in the world are contracting due to economic crisis.

She said ADP has forecast that Bangladesh will achieve even higher in the future. “The country’s export has been increasing by 15-20 percent every year and the last year it was 41 percent. “

Dipu Moni said Bangladesh has already become one of the major world hubs for readymade garment and is now determined to move up in the value chain with a knowledge-based economy backed by ICT driven hi-tech and modern industries.

“Today, we’re producing more diverse products ranging from ships to chips, as Bangladesh emerged as a shipbuilding nation and has been exporting oceangoing ships to various developed countries, including Denmark and Germany.”

The Foreign Minister said Bangladesh was recently declared as the best 30 outsourcing destinations in the world by Gartner.

The country is ranked 20th for Investor Protection by the World Bank, above India (41) and China (93) and Vietnam (124) for its doing-business easy.

Dipu Moni told the European investors that Bangladesh offers the most liberal FDI regime in South Asia, allowing 100 percent equity with unrestricted exit policy. The country has cheap labour force while it is enjoying better market access for having GSP facilities as LDC.

Amidst cheers from the audience, she said Bangladesh is in the heartland of Chindia with low cost labour base and an emerging middle class. She said Bangladesh is emerging as an economic powerhouse as Chindia plus one, with a huge hinterland and a big potential market.

Commercial Counsellor Abdur Rouf presented the keynote paper depicting various aspects of Bangladesh’s growing economy and potentials for investment in agro-processing industry, jute mixed goods, flower cultivation, commercial plantation, horticulture, silk industry, home textile, handicrafts , RMG, ICT, electronics and light engineering and tourism.

The investors exchanged views on various aspects of investment in Bangladesh at the seminar held with Bangladesh Ambassador to Germany Mosud Mannan in the chair.

 

[Zabaniyah]

For Bangladesh to attract more FDI, it needs to address the infrastructure and energy issues.

 

[CaPtAiN_pLaNeT]

For Bangladesh to attract more FDI, it needs to address the infrastructure and energy issues.

Dipu moni is asking for investment in this 2 sectors.

 

[Abhishek_]

very impressive, BD seems to be making the right moves towards economic progress. I have no doubt BD will be a force to reckon with in the coming decades. good luck n godspeed you guys

 

[asad71]

1.In spite of bureaucratic hurdles and political acrimony, we are doing remarkably well. But I wouldn't call ourselves an economic power house as yet. But we are working hard and trying our best to progress.

2. The peculiar thing about about BD society and culture is that we do not have a very wide gap between the affluent and the humble. We do have some v rich people, but they are not many. The middle class is strong and vibrant. That is the engine of development. No body dies of starvation. There is no famine. There is no gruel-ling kitchen. People going up like to pull their family up also. Even communities are helped this way. Economic parity and social justice are unwritten laws. No wonder Nobel Laureate Amritya Sen was born here.

 

[CaPtAiN_pLaNeT]

1.In spite of bureaucratic hurdles and political acrimony, we are doing remarkably well. But I wouldn't call ourselves an economic power house as yet. But we are working hard and trying our best to progress.

2. The peculiar thing about about BD society and culture is that we do not have a very wide gap between the affluent and the humble. We do have some v rich people, but they are not many. The middle class is strong and vibrant. That is the engine of development. No body dies of starvation. There is no famine. There is no gruel-ling kitchen. People going up like to pull their family up also. Even communities are helped this way. Economic parity and social justice are unwritten laws. No wonder Nobel Laureate Amritya Sen was born here.

Middle class fuels Bangladesh boom - Asia - Al Jazeera English

 

[Tiki Tam Tam]

B’desh emerging as economic powerhouse as Chindia:

I am sure that it would be long that BD will be a world game changer.

It has the potential.