Author: Young Bangla
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Bangladesh's economic growth has shown commendable performance for the last 20 years. Impressive private sector led growth of above 5% for last two decades have indeed taken the economy to a new trajectory - contributed by steady agricultural production, increased exports earnings, healthy remittance and vibrant domestic demand. The recent positive sovereign rating by Moody's Investor's Services and Standard and Poor's (S&P) brought about a new dimension to Bangladesh's economic outlook. US investment Bank Goldman Sachs has included Bangladesh in "The Next-11" as one of the most promising economies after the BRIC nations. Price Water House Coopers (PWC) has also included Bangladesh in their new PWC 30 list considering its potentials of growth. The present government has set "Vision 2021" to move Bangladesh to a middle Income Country (MIC) by 2021. We are confident that "Vision 2021" objectives of strong economic fundamentals will set the foundation for Bangladesh to become one of the 30th largest economies in the world. However, Bangladesh needs to accelerate its development activities by fast tracking into higher GDP growth and investment trajectory. Low cost production base alone will not determine Bangladesh's competitiveness as an attractive investment destination. Bangladesh needs to adopt pragmatic "Strategies" and competitive "Policies" to address the challenges in attaining high growth for new opportunities for investment.