Bangladesh Economic & Infrastructure Development - Updates & Discussions

[bluesky]

Take away the inflation (that affect the non-top people who are the 99% much much more) and we see the bottom better:

https://data.worldbank.org/indicator/NY.GDP.PCAP.KD?locations=BD-IN-PK

Thanks. But, GDP figures are less important than the quality of living. Clean and good roads, functional rainwater and sewerage drainage systems, footpaths with the absence of illegal occupiers/hawkers, clean and non-swampy fish and meat markets where the housewives can go for shopping without changing their dress and sandal, and so on.

These amenities can be used by all the people, rich and poor. I the case of GDP figure, the most benefitted are the rich guys.

Many of these small amenities are absent in the Indian Sub-Continent. Villages are not bad because the areas are wide and wastages are burned as fuel. But, the towns and cities are without civic facilities that I stated above. I do not know why, but people in the Sub-Continent do not mind living in dirt. This is why there has never been a civic movement for the beautification of the towns.

 

[Nilgiri]

Thanks. But, GDP figures are less important than the quality of living. Clean and good roads, functional rainwater and sewerage drainage systems, footpaths with the absence of illegal occupiers/hawkers, clean and non-swampy fish and meat markets where the housewives can go for shopping without changing their dress and sandal, and so on.

These amenities can be used by all the people, rich and poor. I the case of GDP figure, the most benefitted are the rich guys.

Many of these small amenities are absent in the Indian Sub-Continent. Villages are not bad because the areas are wide and wastages are burned as fuel. But, the towns and cities are without civic facilities that I stated above. I do not know why, but people in the Sub-Continent do not mind living in dirt. This is why there has never been a civic movement for the beautification of the towns.

Govt has taken the mantle and responsiblity...and people become lazy and dependent on it as result.

It serves the (powerhungry, elitist) govt well to keep such concepts like this out of basic foundational ethic at young level in the region:

https://defence.pk/pdf/threads/what-went-wrong-after-1990-state-bank-governor.596045/#post-11088499

Thus civic nationalism is eroded in big way from the get go itself....the govt wants to be the only vehicle for nationalism basically....the great standard bearer of it....because people cannot be trusted....yesterday, today or tomorrow.

Whereas in Japan, they learned quite brutally and cruelly because of WW2, what the dangers are of over-reliance on a govt (no matter what your society is like)...that grabs the nationalism banner for itself exclusively. Thus lot more of this foundational true people-based nationalism approach instead in Japan. You can see it for yourself, how Japanese schools were like before WW2 too (and Japan in general, and japanese goods quality etc), they really were not great at all, or even average....because the govt had imposed itself as the be-all end-all agent....above and over the common people.....rather than subservient/accountable to them.

In our region the people simply have to reach that threshold where they are big and powerful enough together to create the needed revolution where it matters in the power structures that were just copied and pasted over for power+control sake.

@Joe Shearer @Sam. @VCheng

 

[Mage]

Remittance hits record high in January
Published: February 03, 2019 19:11:23 | Updated: February 04, 2019 09:57:26

Bangladeshi migrant workers sent a record amount of remittance home in January.

They sent $1.59 billion in inward remittances to Bangladesh in the first month of the year, a new monthly record. The amount is about 15 per cent higher than in January 2018.

Migrant workers had sent over $9.08 billion in remittances to the country in the first seven months of the fiscal year, according to data from Bangladesh Bank. The amount over the same period in fiscal 2017-18 was $8.31 billion.


Ahsan H Mansur, executive director of Policy Research Institute, suggested devaluing the taka’s exchange rate with the dollar further to increase the effect of remittances.

Many countries, including India, China and Vietnam, have extensively devalued their currency against the dollar, he said, but Bangladesh has done comparatively little.

The researcher said the dollar’s exchange rate had increased 7.0 per cent against the rupee in the past six months, but the value of the dollar against the taka had increased only 0.18 per cent.

“We believe the exchange rate should be ‘set’ at Tk 85 to a dollar soon to increase export earnings and the value of remittance inflows.”

The inter-bank money market set the price of the dollar at Tk 83.96, but dollars were being sold as high as Tk 85, he said.

“In our opinion, the central bank should raise the inter-bank money market price for the dollar at Tk 85.”

The rise in remittances has also improved Bangladesh’s foreign reserves.

On Sunday, Bangladesh’s foreign reserves stood at $31.39 billion. The amount has not dipped below $31 billion since 2016, reports bdnews24.com.

Mansur believes the trend of strong remittance inflows will continue this year because of the hardening of the dollar against the taka and various initiatives by the government to tamp down illegal transfer.

But he says it is unlikely that remittance flows will increase by 17 per cent again. The inflows may rise by about 8.0 per cent, he said.

https://thefinancialexpress.com.bd/economy/remittance-hits-record-high-in-january-1549203194

 

[Bengal71]

If this is our average in India, we are not doing too shabbily either @Skies @Mage @Atlas @Joe Shearer

Harald gives pretty frank opinion on lot of stuff he saw in India (and countries he goes to in general)....great channel. Hope he visits BD too.

You guys are actually doing far better than us in education. In BD, primary education penetrated the grassroots level and will probably have near 100% literacy rate probably in 20 more years, but your higher education is far better than ours. We have a lot of catch-up to do.

 

[Bengal71]

The 3rd Terminal of Hazrat Shahjalal International Airport is expected to be completed in 2022. The project has commenced activity in 4th Qtr. 2018. Civil Aviation Authority of Bangladesh is in the charge of this project.

This airport no matter what extension is done looks like Gabtoli terminal. It should be fully demolished and rebuilt again with a modern design.

 

[Nilgiri]

You guys are actually doing far better than us in education. In BD, primary education penetrated the grassroots level and will probably have near 100% literacy rate probably in 20 more years, but your higher education is far better than ours. We have a lot of catch-up to do.

That is just broad frontier level. The qualitative level is still lacking in India at the scale needed. But we do have organisations like ASER that do the good 3rd party sampling etc to at least have some reference point as to what needs to be improved.

Does BD have something like ASER specifically for keeping tabs on the qualitative side (over just quantitative goals like literacy rate etc)?

 

[Bilal9]

This airport no matter what extension is done looks like Gabtoli terminal. It should be fully demolished and rebuilt again with a modern design.

True - Gabtoli terminal it is right now. But the third terminal is just an interim measure to increase passenger handling capacity by say another 100%, to keep us going for another twenty years. By 2040, the new terminal some 40/50 KM's outside Dhaka will be ready.

Sheikh Hasina International Cricket Stadium,Purbachal
The new cricket stadium of Dhaka with 50000+ capacity

 

[Bilal9]

Dhaka Elevated Expressway progress status

 

[bluesky]

This airport no matter what extension is done looks like Gabtoli terminal. It should be fully demolished and rebuilt again with a modern design.

Exactly, the airport is no better than Gabtoli. It must be re-designed and re-built. But, our people are just inept to think and plan properly. So, the re-designing and re-building works should be awarded to at least two different foreign renowned companies with experience in airports.

However, I have seen another runway just outside of the airport wall (is it in the west?) probably belonging to the airforce. It should be taken back and used to build the 2nd runway.

But, I am annoyed with some guys who love to upload renderings for nothing. Practical work is not as funny as imaginations and rendering.

 

[Bilal9]

 

[Mage]

Bangladesh export earnings from Asian markets, US dazzle
Staff Correspondent

Bangladesh’s export earnings from Asian markets witnessed an encouraging growth in July-January in the current financial year 2018-19 due to rise in shipments of readymade garment products as the major supplier country China had pushed towards high-end garments due to increase in production cost.
The country’s export earnings from its major market, United States, also continued to maintain a healthy growth as the ongoing trade tension between the US and China encouraged global garment retailers to increase their import orders to Bangladesh, exporters said.
Country’s RMG export to Japan in the first seven months of the fiscal year 2018-19 grew by 46.56 per cent, raising the total amount to $ 653.67 million from $445.98 million in the same period of the fiscal year 2017-18, according to the Export Promotion Bureau data.
Country’s overall export earnings from Japan in the period grew by 33.04 per cent, about $822.83 million in total.
‘There may be two reasons behind the export growth to Japan, one is an increase in demand following economic revival and the other is that buyers have shifted some orders from China to Bangladesh to minimise cost,’ director of Centre for Policy Dialogue (research) Khondaker Golam Moazzem told New Age on Thursday.
He said that China was the major supplier of apparel to Japan but recently brands and buyers had been withdrawing orders from China due to increase in cost.
Moazzem also said that the economy of Japan has revived which resulted in growing demand for Bangladesh made apparels, which makes Japan the market.
EPB data showed that export earnings from China in July-January of the fiscal year 2018-19 grew by 30.30 per cent, taking the total figure to $531.51 million from $407.91million in the same period of the fiscal year 2017-18.
RMG export to China in the first seven months of the fiscal year 2018-19 grew by 49.65 per cent to $309.74 million.
Moazzem said that demand for Bangladeshi apparel increased in China as the country had been shifting its basic manufacturing to high-tech industry against the backdrop of rising labour cost.
RMG export to India in July-January period of the fiscal year 2018-19 grew by 129.05 per cent, raising the total figure to $314.44 million from $137.28 million in the same period of the fiscal year 2017-18.
Country’s overall exports to India in seven month of the fiscal year 2018-19 stood at $776.19 million with a 73.55 per cent growth from the earnings $447.23 million in the same period of the fiscal year 2017-18.
Country’s export earnings continued to increase in the US market, the largest export destination for Bangladesh, and earnings in exporting readymade garments in the market stood at $3.61 billion with a 17.22 per cent growth in July-January period of the fiscal year 2018-19.
Country’s overall export earnings from the US, in the first seven months of the fiscal year 2018-19 grew by 17.45 per cent to $4.04 billion from $3.44 billion in the same period of the fiscal year 2017-18.
Moazzem, however, said that despite trade war between the US and China, the US economy was growing and employment generation was taking place in the country due to many other government policies.
Economic growth and employment created demand for apparel products in the US market, he said.
Export earnings from Germany, the second highest export destination for Bangladesh, in July-January of the fiscal year 2018-19 grew by 8.95 per cent — around $3.72 billion from $3.41 billion in the same period of the fiscal year 2017-18.
RMG exports to the market in the period increased by 9.61 per cent to $3.51 billion.
Export earnings from United Kingdom, the third largest export destination for Bangladesh in July-January period of the fiscal year 2018-19 stood at $2.41 billion with a 2.95 per cent minimal growth.
RMG exports to the UK in the period increased by 1.25 per cent — about $221billion, data showed.

http://www.newagebd.net/article/64138/bangladesh-export-earnings-from-asian-markets-us-dazzle

 

[Bilal9]

Startup Dhaka Launches Its Second Film
Nahid Farzana, Dhaka

Startup Dhaka premiered its second documentary, Startup Dhaka Part 2, at ICT Tower on 11th November to an audience that included startup founders, startup community members, and sponsors. Honorable Kazi M. Aminul Islam, Executive Chairman of Bangladesh Investment Development Authority (BIDA), Prime Minister’s Office was present at the event as the chief guest. IDLC Finance was the presenting sponsor, with supporting sponsor Microsoft Bangladesh, and Startup Bangladesh hosting the premier of the film.



Kazi M. Aminul Islam expressed his excitement about the film and the prospects of Bangladesh’s investment opportunities. He said, “A lot of ground work needs to be laid for startup ecosystem development. We need to do more. Access to finance is a big hurdle that has to overcome. We need to develop the equity class, and gradually shift our dependence from debt instruments. The chain of equity investment is largely undeveloped. We need to replicate what we have learnt from the development of RMG sector and apply it elsewhere.”



Arif Khan, CEO & Managing Director of IDLC Finance was also present at the event. He said they are very proud to be a part of this project and also said, “IDLC believes that future of Bangladesh depends on the development of the Startup Ecosystem. IDLC is proud to be a part of this development.”



Sonia Bashir Kabir, Managing Director was excited about film and said, “Bangladesh is a Sleeping Giant. It was very important to let everyone know the story of this Sleeping Giant, and Startup Dhaka has brought up that story through their documentary. This documentary will convey the infinite potential of Bangladesh to the whole world.”

This sequel to the original Startup Dhaka documentary took a year to complete. The first film, released in 2013, introduced and explained the emerging startup culture of Dhaka. Since then, Bangladesh’s startup culture has grown and matured; however, new challenges have surfaced.

When in Bangladesh, the value startups are creating is clear and visible. International institutional investors, however, have hardly an idea of Bangladesh itself, let alone the opportunities it has on offer. Startup Dhaka Part 2 not only showcases the success and maturity of Bangladesh’s contemporary startups, but enlightens for an international audience the positive economic indicators of Bangladesh.

The film shows various interviewees and ecosystem players sharing their experiences and showing Bangladesh as a country of opportunity. The claims are supported by factual economic indicators and growth data that are not articulated often enough to form a strong Bangladesh position. The documentary, with support of its stakeholders and the friends of Startup Dhaka, promotes Bangladesh as an investment destination and a place to take a bet on the digital economy.



Tina Jabeen, Deputy Project Director (ICT Innovation), iDEA Project was excited about the role that Startup Dhaka is playing for the Bangladesh startup ecosystem. She said, “Startup Dhaka’s attempt at pioneering the development of startup ecosystem is essential and commendable to say the least.”



Mustafizur Rahman Khan, CEO of Startup Dhaka said, “It has been a tremendous undertaking to tell a story that not only captures the country’s startup progress, but captures people’s imaginations about Bangladesh as well. We hope our attempt to convey new opportunities in Bangladesh and its digital economy helps usher in more investors and interest from here and abroad.”

He also mentioned his gratitude to the almost 100 people who directly and indirectly contributed to the film. He gave special thanks to the interviewees who participated and who took the time to tell the story of their Bangladesh. The film is sponsored by a presenting sponsor, IDLC Finance, and a supporting sponsor, Microsoft. The film premier was hosted by Startup Bangladesh. The Startup Dhaka team expressed their gratitude for the support of the three organizations.

 

[Nilgiri]

Bangladesh export earnings from Asian markets, US dazzle
Staff Correspondent

Bangladesh’s export earnings from Asian markets witnessed an encouraging growth in July-January in the current financial year 2018-19 due to rise in shipments of readymade garment products as the major supplier country China had pushed towards high-end garments due to increase in production cost.
The country’s export earnings from its major market, United States, also continued to maintain a healthy growth as the ongoing trade tension between the US and China encouraged global garment retailers to increase their import orders to Bangladesh, exporters said.
Country’s RMG export to Japan in the first seven months of the fiscal year 2018-19 grew by 46.56 per cent, raising the total amount to $ 653.67 million from $445.98 million in the same period of the fiscal year 2017-18, according to the Export Promotion Bureau data.
Country’s overall export earnings from Japan in the period grew by 33.04 per cent, about $822.83 million in total.
‘There may be two reasons behind the export growth to Japan, one is an increase in demand following economic revival and the other is that buyers have shifted some orders from China to Bangladesh to minimise cost,’ director of Centre for Policy Dialogue (research) Khondaker Golam Moazzem told New Age on Thursday.
He said that China was the major supplier of apparel to Japan but recently brands and buyers had been withdrawing orders from China due to increase in cost.
Moazzem also said that the economy of Japan has revived which resulted in growing demand for Bangladesh made apparels, which makes Japan the market.
EPB data showed that export earnings from China in July-January of the fiscal year 2018-19 grew by 30.30 per cent, taking the total figure to $531.51 million from $407.91million in the same period of the fiscal year 2017-18.
RMG export to China in the first seven months of the fiscal year 2018-19 grew by 49.65 per cent to $309.74 million.
Moazzem said that demand for Bangladeshi apparel increased in China as the country had been shifting its basic manufacturing to high-tech industry against the backdrop of rising labour cost.
RMG export to India in July-January period of the fiscal year 2018-19 grew by 129.05 per cent, raising the total figure to $314.44 million from $137.28 million in the same period of the fiscal year 2017-18.
Country’s overall exports to India in seven month of the fiscal year 2018-19 stood at $776.19 million with a 73.55 per cent growth from the earnings $447.23 million in the same period of the fiscal year 2017-18.
Country’s export earnings continued to increase in the US market, the largest export destination for Bangladesh, and earnings in exporting readymade garments in the market stood at $3.61 billion with a 17.22 per cent growth in July-January period of the fiscal year 2018-19.
Country’s overall export earnings from the US, in the first seven months of the fiscal year 2018-19 grew by 17.45 per cent to $4.04 billion from $3.44 billion in the same period of the fiscal year 2017-18.
Moazzem, however, said that despite trade war between the US and China, the US economy was growing and employment generation was taking place in the country due to many other government policies.
Economic growth and employment created demand for apparel products in the US market, he said.
Export earnings from Germany, the second highest export destination for Bangladesh, in July-January of the fiscal year 2018-19 grew by 8.95 per cent — around $3.72 billion from $3.41 billion in the same period of the fiscal year 2017-18.
RMG exports to the market in the period increased by 9.61 per cent to $3.51 billion.
Export earnings from United Kingdom, the third largest export destination for Bangladesh in July-January period of the fiscal year 2018-19 stood at $2.41 billion with a 2.95 per cent minimal growth.
RMG exports to the UK in the period increased by 1.25 per cent — about $221billion, data showed.

http://www.newagebd.net/article/64138/bangladesh-export-earnings-from-asian-markets-us-dazzle

But I thought China buys so much more from BD than India? Given they have no "NTB" like us and have even opened the premature walton stronk guy celebration again:

https://defence.pk/pdf/threads/bd-set-to-get-dfqf-access-to-china.600348/#post-11148134

@bluesky

 

[Bilal9]

Young freelancers show the way

Target $100m earning a year from outsourced IT-based jobs in next 2 years

Suman Saha

Young Bangladeshis, fresh out of colleges and universities, are on course to earn about $100 million a year by 2020 working freelance from home, industry people say.

This is five times what the local freelancers used to earn from jobs outsourced by companies abroad about five years ago.

A young population base, coupled with advances in technology and good pay, is said to be the reason for more and more Bangladeshis taking the freelance route, and the flexible working hours is a bonus.

“Many people are interested in freelance work in the country due to high income and flexible working hours,” said Saidur Mamun Khan, country manager of Upwork, a leading freelancer marketplace.

Inadequate opportunity for quality jobs, especially for young graduates, is another reason for the increasing popularity of freelance jobs, he said, adding that around 200,000 graduates enter the job market every year.

Freelance jobs in software development, customer service, data entry, writing, editing, blogging, accounting, mobile apps development, web development, search engine optimization, graphic design and translations are all there for the taking.

Citing data recently pulled from Upwork and other freelancer platforms, which helps companies get skilled freelancers, Saidur said businesses spent around $930 million on hiring remote independent workers around the globe in 2014, up from $750 million of 2013. He said the amount is expected to exceed more than $10 billion globally by 2020.

In terms of earnings, Bangladesh is ranked seventh among 186 countries where online jobs are outsourced to, he said.

Currently, the country has around 5.5 lakh freelancers registered with different freelance marketplaces. Upwork had 4.5 lakh registered users in Bangladesh.

Saidur credited the success of freelancing in Bangladesh to improved Internet bandwidth (with three submarine links currently) which helps land more job orders.

 

[bluesky]

Currently, the country has around 5.5 lakh freelancers registered with different freelance marketplaces. Upwork had 4.5 lakh registered users in Bangladesh.

A $100 million per year earning through getting an outsourcing job is paltry when the workforce is 5.5 lakh. It becomes a yearly earning of $15 only. On top of this, our benevolent ICT minister will employ 20 lakh people. So, where is the income?

A country's ICT sector is not controlled by the govt. Neither the govt employs them. So, let the private companies keep on working in this field and get sub-contract jobs by directly competing against the Indian ICT sector.