Hasina renews pledge to help business
The private sector is the driving force of the economy and the government will continue supporting the sector to help it flourish further, Prime Minister Sheikh Hasina said yesterday.
"I would like to assure you that our government's cooperation would continue to create a business-friendly environment for developing the private sector through a transparent management," Hasina said renewing her pledge, in an international conference on economy in Dhaka.
The Dhaka Chamber of Commerce and Industry organised the daylong event titled "New economic thinking: Bangladesh 2030 and beyond" at Radisson Hotel.
Hasina said her government has formed the Private Sector Development Policy Coordination Committee for the development of the private sector.
The government has also formed Bangladesh Economic Zones Authority and Bangladesh Investment Development Authority to boost industrialisation, she said.
"We have set up the PPP office for infrastructure development and drafted time-befitting industrial and export polices for public and private investment."
Hasina said her government has been implementing massive programmes to attract more foreign investment.
"We have taken steps to build 100 special economic zones across the country to attract domestic and foreign investment," she said.
The premier said a high-tech park on 355 acres of land is being constructed at Kaliakoir with a target of employing 10 lakh people in the IT sector by 2021 and exporting goods worth $5 billion a year.
Bangladesh would become the 29th economy of the world by 2030 and 23rd by 2050, Hasina said citing a report by PricewaterhouseCoopers.
"To achieve this goal, a desired employment opportunity would have to be created through sustainable economic development industrialisation, trade expansion, boosting remittance, developing infrastructure and improving education and healthcare services."
The prime minister said Bangladesh has been working with a far-reaching goal to improve its standings on various indexes like Cost of Doing Business Index of World Bank, Global Competitive Index of World Economic Forum, UN Human Development Index, Global Innovation Index and Logistics Performance Index.
The premier said Bangladesh would secure recognition of a poverty-free country by 2030.
After assuming office in 2009, Hasina said, her government began implementation of Vision 2021 and managed to lower the poverty rate to 22.4 percent in 2015 from 40 percent in 2005.
The per capita income rose to $1,466 and Bangladesh earned a GDP growth above 6 percent over the last several years and 7.11 percent growth last year.
"The export earnings rose to over $34 billion in 2015-16 from a mere $10.5 billion in 2005-06," she said, adding that 90 percent of the country's development project fund comes from internal resources.
The premier said by 2041 the country's economy will be at the centre-stage of the regional economy of Asia and local supply chain and global value chain will play an important role in regional and sub-regional communication and connectivity.
“I believe the economy pursued by us will usher in a new horizon of success creating a win-win situation in improving sub-regional and international economic relations and expanding trade and commerce, and investment.”
The premier said the development of power and energy will strengthen the economy of Bangladesh and every people of the country will be brought under electricity coverage by 2021.
Hasina said Bangladesh has earned a remarkable success in achieving MDGs and similarly Bangladesh wishes to emerge as a global role model of implementing SDGs achieving its targets by 2030.
Bangladesh will celebrate the 70th anniversary of its independence in 2041. "I firmly believe that it will be a $2.5 trillion economy and per capita income will be $12,600 by 2041," she said.
Hasina said with the commissioning of 105 new power plants during the last seven and a half years, the electricity production capacity rose to 15,000 MW.
"Nearly 78 percent population of the country is now under electricity coverage and some 4.5 million solar home systems have been established in off-grid areas," she said.
She said the work on construction of Padma Bridge, deep seaport, nuclear power plant, coal-based power plants, metro-rail, inter-state rail track and LNG terminal and underground tunnel in the Karnaphuli river and the launching of Bangabandhu satellite is progressing fast.
"I believe our economy will be bolstered further once these projects are implemented."
The prime minister said the government has taken massive programmes to implement the seventh five-year plan by incorporating the UN sustainable development goals 2030 and the goals of Vision-2021.
Hasina thanked the Dhaka Chamber for organising the international event.
"I hope required outline, innovative concept and necessary guidelines to face the challenges to achieve the development goals of 2041 will be highlighted in the conference and the strategic papers to be prepared will focus on the emerging prospect," she said.
Finance Minister AMA Muhith, Industries Minister Amir Hossain Amu, Commerce Minister Tofail Ahmed and FBCCI President Abdul Matlub Ahmad also spoke at the function.
DCCI President Hossain Khaled presided over the inaugural plenary of the conference and Group President of Government of Singapore Investment Corporation Lim Siong Guan presented the main paper.
DCCI Senior Vice President Humayun Rashid gave the vote of thanks.
The prime minister at the function also handed over "the Illustrious Son of Dhaka Award" to Anwar Hossain, chairman of DCCI Foundation and Anwar Group of Industries.