এক সম্ভাবনাময় বাংলাদেশের চিত্র তুলে ধরলেন আশিক চৌধুরী | Ashik Chowdhury | News24

Summary

Bangladesh envisions becoming a regional manufacturing powerhouse by 2035, connecting the East to the West. With a young, globally connected population, the country aims to transform into a major hub for global investment and trade. Plans include expanding infrastructure, improving port capacity, and creating a one-stop service for investors. The government seeks to foster collaboration between the private sector and government through advisory councils and policy reforms. By positioning itself as a logistical center and embracing a larger regional market, Bangladesh aims to unlock new economic opportunities and become a key global player in the coming years.

Takeaways

• 😀 Bangladesh aims to become a regional manufacturing powerhouse by 2035, connecting East to West and acting as a bridge between the Himalayas and the Bay of Bengal.
• 😀 The country's youth population is tech-savvy and globally aware, with high expectations for rapid economic development, hoping to see Bangladesh become as advanced as Singapore or Bangkok in 5-10 years.
• 😀 Bangladesh has a significant domestic market of 180 million people, with a young population where almost half are under 25 years old, and a growing middle class of 35 million people.
• 😀 Historical investment success stories in Bangladesh show that companies operating in the country have seen returns significantly higher than global averages.
• 😀 The vision for 2035 includes expanding Bangladesh's market potential beyond its domestic population, aiming for a larger regional and global market by establishing manufacturing hubs and leveraging the country's ports for export.
• 😀 Port capacity in Bangladesh is being enhanced, particularly in the Chirong area, with plans to triple its capacity in the coming years to establish Bangladesh as a major logistics hub.
• 😀 To foster business, the government is working to turn critics into ambassadors by addressing their concerns and improving the business climate through targeted policy changes and reforms.
• 😀 One key initiative includes the creation of a one-stop service for investors, streamlining interactions with government agencies by collocating relevant ministries in one office.
• 😀 A relationship management team will be set up to assist investors throughout the landing process, offering support much like corporate banking relationship managers do.
• 😀 The introduction of the authorized economic operator (AEO) green channel will speed up customs processes, addressing the challenge of delays in the supply chain from factory to customer.
• 😀 A private sector advisory council will be established to directly advise the head of state, ensuring that the private sector's concerns are regularly communicated and addressed for long-term economic progress.

Q & A

What is the vision for Bangladesh in 2035, as mentioned in the transcript?

In 2035, Bangladesh aims to transition from being a rising economy to becoming a regional manufacturing powerhouse. It seeks to connect the East (Himalayas) to the West (Bay of Bengal) and position itself as a global manufacturing hub with robust investment from both local and international sources.

How does the speaker describe the young population of Bangladesh?

The speaker highlights that the young population of Bangladesh is highly globalized, accustomed to using social media platforms like Twitter and TikTok. They expect rapid economic transformation and want Bangladesh to become as prosperous as Singapore or Bangkok within the next 5-10 years.

What is the significance of Bangladesh's 180 million domestic market?

While the 180 million domestic market is a significant factor, the speaker emphasizes the importance of redefining the market to include a larger regional and global market. Bangladesh is seen as a strategic location for manufacturing, where businesses can serve regional markets and engage in international trade.

How does Bangladesh plan to enhance its port capacity?

Bangladesh is focusing on tripling its port capacity, particularly in the Chattogram area, in the coming years. This will allow Bangladesh to become one of the biggest logistical hubs in the region, facilitating more efficient trade and export operations.

What role do private sector CEOs and entrepreneurs play in Bangladesh's economic transformation?

Private sector CEOs and entrepreneurs are crucial in driving the transformation of Bangladesh's economy. By addressing their feedback and converting critics into ambassadors for the country, the government hopes to attract more investment and improve business conditions.

What are the key elements of the proposed one-stop service for investors?

The one-stop service for investors consists of two main components: the human element and the digital element. This involves co-locating key government agencies in a single location to simplify the process for investors, as well as providing relationship management services to guide investors through the process.

What is the 'authorized economic operator' and how does it help businesses in Bangladesh?

The 'authorized economic operator' is a system designed to streamline customs processes for trustworthy businesses. It allows good customers to bypass some customs checks and fast-track their shipments, addressing one of the major challenges in the supply chain and improving efficiency.

How is Bangladesh planning to improve the relationship between the private sector and government?

To improve the relationship, Bangladesh plans to establish a Private Sector Advisory Council. This council will regularly advise the head of state on the needs and concerns of the private sector, ensuring better collaboration and more effective policy reforms.

What cultural factors make Bangladesh an attractive destination for investment?

Bangladesh’s cultural warmth, resilience, and century-old traditions, combined with shared values with potential investors, make the country an appealing destination for investment. These factors, alongside the economic transformation underway, present an opportunity for investors to be part of a significant change.

What are the expected long-term impacts of the policy reforms outlined in the speech?

The long-term impact of the policy reforms is to create a more efficient, investor-friendly environment in Bangladesh. By addressing business challenges, improving logistics, and fostering better government-private sector collaboration, these reforms are expected to accelerate economic growth and attract sustained investment in the country.