MAJOR DEVELOPMENTS, ACHIEVEMENTS OF BANGLADESH IN 2018

MAJOR DEVELOPMENTS, ACHIEVEMENTS OF BANGLADESH IN 2018

The country experienced a number of achievements as well as developments in the year of 2018 although countrymen witnessed preparation for national election and tensed whether it will be held with participation of all parties and maximum voters. 

Below are the highlights of developments:

Bangabandhu-1 satellite launched 

Bangabandhu-I, the first communication satellite of Bangladesh, started its journey towards orbit slot from the Kennedy Space Centre in Florida, the USA at 2:14 am Bangladesh time.

SpaceX, on May 11, launched the high-orbit communications satellite for Bangladesh to a geostationary transfer orbit roughly 22,000 miles (35,000 kilometers) above Earth.

The launching of the satellite was hailed by Prime Minister Sheikh Hasina in a livestream video from Dhaka aired on SpaceX’s launch webcast.

Bangladesh top gender equal country in South Asia

For the fourth time in a row, Bangladesh held the top position among South Asian countries in ensuring gender equality.

The country has slipped only one notch down to the 48th position among 149 countries worldwide, but is still ahead of all other countries in Asia except the Philippines, according to World Economic Forum’s ‘The Global Gender Gap Report 2018’ published on December 20.

Economy marches towards record 7.65pc growth

The Bangladesh economy is charging towards record growth figure for the second consecutive year, driven by double-digit growth in manufacturing and construction sectors.

GDP growth in fiscal 2017-18 is likely to be 7.65 percent, up from 7.28 percent a year earlier, as per the estimate of the Bangladesh Bureau of Statistics.

This is the third consecutive year that the economic growth was above 7 percent after years of languishing in the neighbourhood of 6 percent.

Bangladesh goes up 28 notches

Bangladesh went up 28 notches in the anti-money laundering and counter terrorist financing (AML/CTF) index of the Basel Institute on Governance — a development that will come as a pat on the back for the government.

The country came in at No. 82 out of 146 in the 2017 edition of the Basel AML Index, up from its previous spot of 54.

Padma Bridge Rail Link Construction starts

October 14, PM Sheikh Hasina opened Padma Bridge Rail Link Construction Project which will connect Dhaka, Narayanganj, Munshiganj, Shariatpur, Madaripur, Faridpur, Gopalganj, Narail and Jashore.

The first phase of the ‘Padma Bridge Rail Link Construction Project’ will establish rail link between Mawa and Bhanga via Janjira and Shibchar through the Padma Multipurpose Bridge.

Deal signed for Ctg elevated expressway

Max-Ranken Joint Venture on November 1 signed a contract with Chittagong Development Authority (CDA) to construct a four-lane elevated expressway from Lalkhan Bazar to Hazrat Shah Amanat International Airport in Chattogram.

The project, including a 16-kilometre flyover and a 12-kilometre ramp, is scheduled to be complete in four years with government finance.

Deal signed for Padma Bridge rail link

April 27, Bangladesh and China signed a $2.6 billion loan deal on the Padma Bridge rail link project.

Zahidul Haque, additional secretary of Economic Relations Division of the finance ministry, and Sun Ping, vice president of Exim Bank of China, inked the agreement on behalf of respective sides in Beijing.

Of the total project cost of $3.1 billion, Exim Bank will provide $2.6 billion while the rest would be given by Bangladesh Railway, he said. The loan carries a 2 percent interest rate.

PM wins international awards

On April 27, Prime Minister Sheikh Hasina was conferred with Global Women’s Leadership Award for her outstanding contribution to promote women rights and empowerment.

On September 29, the Prime Minister received two international awards — the IPS International Achievement Award and the 2018 Special Distinction Award for Leadership — for her humanitarian and responsible policy in hosting the Rohingyas and for her far-sighted leadership over the Rohingya issue.

Achievement in Cricket

1. Tigers Whitewashed West Indies, Zimbabwe 
Bangladesh, on December 2, posted first-ever innings victory to whitewash West Indies at Sher-e-Bangla National Cricket Stadium in Dhaka.

Tigers whitewashed touring Caribbean 2-0 registering their first-ever innings victory beating the visitors by an innings and 184 runs in the 2nd and final Test that concluded before the tea break on the 3rd day.

Besides, Bangladesh defeated Zimbabwe by seven wickets in the third one-day international to complete a whitewash in the three-match series in Chittagong on October 27.

2. Series win against West Indies

Bangladesh take ODI series against West Indies in Basseterre which is tigers’ first series win outside Asia since 2009. Tigers on July 18 secured a somewhat nervy 18-run win in the series-deciding ODI in Basseterre to seal a 2-1 win.

RCC, GCC, SCC, KCC elections

Elections in Rajshahi City Corporations (RCC) were held on Jul 302018 amid refusal of BNP-endorsed candidate to cast vote on allegation of rigging.

Awami League mayoral runner AHM Khairuzzaman Liton has won the Rajshahi City Corporation (RCC) elections.

Gazipur City Corporation (GCC) elections were held on June 25. Awami League nominated mayor candidate Md Jahangir Alam was declared elected in GCC elections, defeating his rival BNP contender Hasan Uddin Sarker by a big margin.

BNP candidate Ariful Haque Choudhury was declared winner in Sylhet city polls, held on August 11, defeating his nearest rival Badar Uddin Ahmed Kamran of Awami League by 6,196 votes.

Awami League mayor candidate Talukder Abdul Khaleque has won Khulna City Corporation (KCC) elections, held on May 15, by 65,600 votes against his nearest rival BNP-backed candidate Nazrul Islam Monju.

Important personalities’ Visit to Dhaka

Jul 1, 2018, United Nations Secretary General Antonio Guterres, who reached Cox’s Bazar on a special flight of Biman Bangladesh Airlines at 8:45am, also said he heard “unimaginable accounts of killing and rape from Rohingya refugees who recently fled Myanmar”.

The World Bank Group President Jim Yong Kim and United Nations High Commissioner for Refugees Filippo Grandi visited Bangladesh to observe Rohingya communities and humanitarian workers in Cox’s Bazar district to advocate for increased donor support

June 30, the President of International Committee of the Red Cross (ICRC) Peter Maurer and Dr Natalia Kanem, Executive Director of UNFPA and UN Under-Secretary General.

On January 27, Indonesian President Joko Widodo arrived in Dhaka on a two-day official visit. Widodo went to Cox’s Bazar to witness the plight of Rohingya people who fled sectarian violence in Myanmar.

President of the Swiss Confederation Alain Berset arrives in Dhaka this noon on a four-day official visit to boost the 46-year-old ties between the two countries. This is the first time a Swiss president visited here since March 13, 1972, the day when Switzerland recognised the independence of Bangladesh.

H. E. Mr. Tran Dai Quang, President of the Socialist Republic of Viet Nam and Madam Nguyen Thi Hien paid a State visit to the People’s Republic of Bangladesh from 4 to 6 March 2018. The visit marks the 45th anniversary of Bangladesh-Viet Nam diplomatic relations.

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DECEMBER 29, 2018

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A DECADE OF DEVELOPMENT: BANGLADESH (2009 – 2018)

A DECADE OF DEVELOPMENT: BANGLADESH (2009 – 2018)

 

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BANGLADESH’S GROWTH RATE BOOMING AMONG SOUTH ASIAN COUNTRIES

BANGLADESH’S GROWTH RATE BOOMING AMONG SOUTH ASIAN COUNTRIES

– MD MAZADUL HOQUE –

After nearly fifty years of independence, Bangladesh economy has gained the ability of getting praise from globally renowned financier -the World Bank (WB). The World Bank in its recent study said that recent pace of economic growth of Bangladesh shows highly competitiveness among south Asian countries.

Even though, a neighboring economy- India that dominated Bangladesh earlier in many ways cannotnow  keep pace with us in respect of  growth trend. The head of the ruling government of Bangladesh- Prime Minister Sheikh Hasina deserves appreciation for this long desired achievement for her charismatic leadership.

Actually, South Asian region are covered with land locked and least-developed countries. With these countries’ previous socio economic condition, this was completely impossible to be economically grown up.

In present time, the region’ economic status becoming appreciable to Washington-based World Bank due to sustained growth trend. In terms economic growth rate, among eight countries, Bangladesh and Maldives ranked first where India second and Nepal third according to released study carried out by the World Bank.

Bangladesh has been the role model to the view of renowned economists. The economists are now trying to discover the actual reason of economically progress so fast. But, their trying remains undiscovered. Actually, the people connected with manufacturing sectors are continuously battling relentlessly to take the country forward. Export oriented sectors are playing a crucial role for positive growth trend.

Nevertheless, many bravery steps have so far been undertaken to join the race with developed economies. Afghanistan and Sri Lanka have been termed as worst in respect of growth.

As a young writer I think if promoted regional connectivity Bangladesh including other south Asian countries would be able keep pace with any dominant economies in the world. The need for mapping an economic corridor among   India- Nepal- Bhutan- Bangladesh is a must if we wish to become one of world’s leading economy. Ultimately, our dream to be developed countries one is set to fulfill if our motives are on the right track. The nation has to have contributions for achieve the status of developing and developed country respectively.

There needs to be mentioned here in this article that India known as fastest growing economy in the world is currently passing bad time as their growth level is recorded unsatisfactory. Once upon a time, Bangladesh had to follow Indian charismatic economic strategies to go ahead. But, now those days have. We are now not followers. Rather, Bangladesh is going to become economic advisor.

To keep the growth sustained there is no alternative to increase export volume. The World Bank also advises Bangladesh to enhance export in its study. Goods and services produced in the export oriented factories must be maintained quality asked by concerned buyers. If found fault in the ordered products, the attained growth rate is likely to collapse soon.  The south Asian region was badly economically affected due to absence  of regional cooperation.

Only, The South Asian Association for Regional Cooperation (SAARC) can promote the regional economy within brief time if its member countries move together with optimum efforts. As committed by SAARC member countries’ leaders earlier the need for promoting South Asian Economic Union (SAEU) aiming to trade expedition is a must. Moreover, a plan for introducing regional economic corridor for transportation goods within countries is a must.

Upgradation of old aged trade policy that was incorporated in the regional-based  platforms has to be done right now. To conclude, land locked and least developed south Asian countries must be turned into developed countries within next couple of years if head of the government of SAARC member countries start horse race from now on.

A strong harmonization is needed among country heads if the region wishes to be powerhouse economically. To be sustained in above mentioned growth rate, Bangladesh has to go forward economically forgetting political conflict with some countries. To turn the country into Sonar Bangla, friendly relation through economic diplomacy must be established by hook or by crook.

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MAY 29, 2019
Md Mazadul Hoque is currently serving at Social Islami Bank Ltd and he is a member of Bangladesh Economic Association.

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WORLD’S MOST AUSTERE PRESIDENTS

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SHEIKH HASINA ACHIEVES ‘LIFETIME CONTRIBUTION FOR WOMEN EMPOWERMENT AWARD’

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HASINA WINS ‘LIFETIME CONTRIBUTION FOR WOMEN EMPOWERMENT AWARD’ – UNB

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HASINA 26TH MOST POWERFUL WOMEN IN WORLD

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PM SHEIKH HASINA WORLD’S 26TH MOST POWERFUL WOMAN

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HASINA AMONG 100 GLOBAL THINKERS

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HASINA AMONG FOREIGN POLICY’S 100 LEADING GLOBAL THINKERS

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HASINA AMONG 100 GLOBAL THINKERS

HASINA AMONG 100 GLOBAL THINKERS

Prime Minister Sheikh Hasina was named in a list of 100 global thinkers by US-based Foreign Policy magazine.

“Sheikh Hasina has responded to the greatest security challenge facing Bangladesh with a generosity. . . Rather than turn away the approximate 700,000 Rohingya[s] who fled persecution in Myanmar, Hasina welcomed them and allowed them to remain in her country,” the journal wrote in its 10th annual special edition titled Winter 2019.

Hasina made the list under the “Defense and Security” category.

Referring to the background of the list, the Foreign Policy said they had selected the leading global thinkers cautiously considering their stake in shaping the world mind.

“In a year of worldwide economic crisis and dangerous wars, of radical innovation and newfound realpolitik, street revolution and blunt rhetoric, we could think of no better way to make sense of it than through the big ideas of those who shape our understanding of the world.”

Last year, Sheikh Hasina was ranked 26th in Forbe’s list of the world’s 100 most powerful women.

Foreign Policy is an award winning and well-established magazine which was started around 40 years ago.

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JANUARY 24, 2019

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WHY HASINA ERA WILL BE REMEMBERED IN OUR HISTORY?

WHY HASINA ERA WILL BE REMEMBERED IN OUR HISTORY?

ABDUL GAFFAR CHOWDHURY

One of the most influential American magazines Foreign Policy has published a list of 100 top global thinkers of the present decade and Sheikh Hasina is one of them. Four years ago, in 2015, Foreign Policy published another list of 100 great global thinkers of the world. Hasina was included in that list also. In the decision makers category 13 top intellectuals were selected and Hasina was included there. Foreign Policy said that Hasina faced the greatest challenge in the field of defence and security but she handled the opposition with tolerance. She did not oust the 7 lakh Rohingyan refugees from her country but gave them shelter.

After her massive election victory in Bangladesh Hasina’s leadership has been far more appreciated all through the outside world. In the past she received a peace prize from Neil Kinnock, the former leader of the British Labour Party. For her role in ending the long war in the hill tracts and her non-aggression policy to settle disputes with the neighbouring countries she was awarded the Helsinki peace prize. Even a war mongering British leader like Tony Blair praised Sheikh Hasina for her peace making role in the world. Henry Kissinger, the controversial ex-foreign secretary of America praised Hasina for her contribution to world peace.

A few years back there was a strong possibility that Sheikh Hasina will be awarded the Noble Peace Prize. She deserves it. But it was rumoured that the-then Clinton presidency exerted their influence to give this prize to a Bangladeshi banker, who had no contribution to keep peace in the world or even in his own country. For her contribution in the movement to save the world environment from pollution, Hasina was named Mother of the Earth. She has received numerous awards, medals, honorary doctorates from different institutions of the world. Her constant effort for empowering women, rehabilitating the homeless and the street children and introducing social benefits for the elderly, widow and the families of the freedom fighters has been appreciated in home and abroad.

Under her stewardship the country is no more a bottomless basket, but has become a wonderland of economic development. With this background she has become the country’s prime minister for the fourth time. Her political enemies accused her of malpractice in the election. But the world opinion is not fully in agreement with the opposition’s propaganda. The British weekly Ecnomist commented that even without any malpractice Hasina would have won the general election.

In the last ten years she has fulfilled almost all her promises to the people. She fought against poverty and hunger successfully. The war criminals of 71 including the killers of Bangabandhu were put on trials and punished. Under her leadership politics in the country has stabilized, the democratic practices are continuing, economy is flourishing and the law and order has not deteriorated. If this process continues then within the next ten years the country will become a developing country of middle-income. The most dangerous enemies of democracy in Bangladesh are communalism and ultra-fundamentalism. These forces have almost been crushed. The unfulfilled agenda of the Hasina government is the taming of the demon of corruption which has created a powerful place inside Awami League too. The Prime Minister assured the public that this time her government’s main target is to free the society and administration from corruption and that the government will try to establish good governance for the people.

My friend Barrister Moudud Ahmed, though he belongs to BNP keeps himself above political controversy as a writer. He wrote a book on the Mujib era in Bangladesh. In his opinion Sheikh Mujib’s politics in the opposition and government created an era called Mujib era. He paid tribute to Sheikh Mujib for making the country independent and criticized his own leader General Ziaur Rahman strongly. His analysis of the Mujib era is sometimes nearer to truth, but as a politician Moudud himself could not uphold this truth. As a politician Moudud’s vision has been blurred by opportunism. Otherwise, he could establish himself as a true political analyst than many members of our so-called civil society.

The history of Bangladesh has witnessed several glorious periods or eras from the ancient times, especially the era of Shaista Khan is very prominent and has turned into a folk lore. People say that in that era one could buy a huge amount of rice in one rupee, which means that the price of essentials was within easy reach of people. There was also the era of Alivardi Khan when several groups of vicious thugs called ‘Bargi’ and another killer group under Bhashkar Pandit were crushed through strong operation and good governance was established. During the British rule the era of Fazlul Haque was known for the renaissance of the Bengali Muslims, the rise of peasant powers, spreading of education and the emancipation of ordinary people from the torture of landlords.

The most significant era was Mujib era when Bangladesh achieved its independence and the rise of a non-communal, cultural nation state was accepted by the whole world. Then progress of this era was disturbed by the counter revolutionary forces who were defeated in 1971. After defeating these evil forces Sheikh Hasina came to power in1996 and again in 2008. Since then a glorious period of development and democracy started and is still continuing. Now this is called the Hasina era.

I have already mentioned her amazing success in socio political and economic fields earlier. She has shown courage to face mighty America, ignored the threat of the World Bank and started building Padma Bridge with undaunted courage and stamina. No doubt this era will be included in annals of the history of Bangladesh and will turn into a folk lore among the future generations like Shaista Khan’s era. I don’t want to add to the list of her success and make it longer. I feel proud and fortunate that I am one of the witnesses of the two glorious eras associated with the names of Mujib and Haisna.

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JANUARY 24, 2019

Posted in - REVOLUTIONARY VOICES -, ABDUL GAFFAR CHOUDHURY, ACHIEVEMENTS - SUCCESS, BENGALI NATIONALISM, CHALLENGES, CURRENT ISSUES, DEFENCE & SECURITY, ECONOMY, EDUCATION SYSTEM & POLICY, FOREIGN RELATIONS & POLICY, GLOBAL INDICATORS & BENCHMARK, GROWTH & TARGET, HISTORY OF BENGAL, IDENTITY & PATRIOTISM, INDUSTRIES, LEADERS - IN ITS TRUE SENSE, POLITICS - GOVERNANCE, REFLECTION - Refreshing our Memories, RESPONSIBLE CITIZEN & DUTY, SHEIKH HASINA, SOCIAL SECURITY, SOCIETY, SOCIO-ECONOMY -- Inequality, Poverty, Distribution & Poverty, STRATEGY & POLICY, TRADE BODIES, TRANSPARENCY & CORRUPTION CONTROL, WORLD - GEOPOLITICS | Leave a comment

SHEIKH HASINA AMONG THE 5 MOST AUSTERE LEADERS OF THE WORLD

SHEIKH HASINA AMONG THE 5 MOST AUSTERE LEADERS OF THE WORLD

DHAKA, April 15, 2019 (BSS)-Nigeria’s most influential newspaper The Daily Leadership has termed Bangladesh Prime Minister Sheikh Hasina as one of the most austere leaders of the world.

The Daily Leadership carried a feature story on Sunday in its “Unreported” section on five world leaders entitled “World’s Most Austere Presidents,”

Sheikh Hasina, the Prime Minister of Bangladesh, is said to have a monthly salary of $800 (about N288000), said the daily mentioning that Sheikh Hasina was ranked at 59 in Forbes’ list of the “World’s 100 Most Powerful Women”.

It said her (Hasina) political career has spanned more than four decades during which she has been both Prime Minister and opposition leader. She has been the leader of the ruling Awami League since 1981 and her father, Sheikh Mujibur Rahman, was the first President of the country, it added.

As opposition leader, the daily said, she (Hasina) herself was the target of an assassination attempt in 2004.

“Two of the most outstanding achievements of Sheikh Hasina are her leadership roles and success behind the trials of Bangabandhu killers and the persons who committed crimes against humanity in 1971,” said the prestigious daily.

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APRIL 15, 2019

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BANGLADESH’S ECONOMY IS BOOMING. DOES SHEIKH HASINA DESERVE THE CREDIT?

BANGLADESH’S ECONOMY IS BOOMING

DOES SHEIKH HASINA DESERVE THE CREDIT?

Bangladesh has  become one of the world’s economic success stories in Recent years . Per capita income has risen nearly threefold since 2009, reaching $1,750 in 2018, achieved near self-sufficiency in food production for its 166 million-plus population .The Sheikh Hasina lead Government took power in 2009. Now Bangladesh  Named as one of the Next Eleven Economy & ranks 43rd in terms of nominal GDP , 29th in terms of purchasing power parity . Earlier this year, Bangladesh Achieved economic milestone by graduating from “least developed country” to “developing economy” .

Sheikh Hasina ,  The Current Prime Minister of Peoples Republic of Bangladesh Said in an interview with Nikkei Asian Review in December

“Exiting LDC status gives us some kind of strength and confidence, which is very important,

Per Capita Income witness a Boost after 2010 and Rapid growth rate compared to Historical Data .

Sheikh Hasina ,  The Current Prime Minister of Peoples Republic of Bangladesh & Head of Bangladesh Biggest Political Party ,

Foreign Direct Investment nearly tripled during Hasina’s nine years in office, from $961 million in fiscal 2008 to nearly $3 billion in the year to June 30,

Bangladesh’s exports of software and IT services reached nearly $800 million in the year to June 30 and are on track to exceed $1 billion this fiscal year. The government’s target of reaching $5 billion in ICT-related exports by 2021

DOES SHEIKH HASINA DESERVE THE CREDIT?

The political opposition or some expert may try to evaluate the achievement in different way . But History and those economic indicator say The leadership of a Country is sole responsible for its failure and achievement .  Time will Honor The leader who tried to Change the economic and Social culture of Our Sonar Bangla .

Sheikh Hasina The Daughter of Bangladesh First Leader and  Father of the Nation  Sheikh Mujibur Rahman  . She is the Second survivor of a  Brutal   Murder of all of her Family Member .  She is the only living World Leader  who lost all of her family member in an single day .

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DECEMBER 20, 2018

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BANGLADESH RECORDS FASTEST GROWTH IN RICH POPULATION

BANGLADESH RECORDS FASTEST GROWTH IN RICH POPULATION

Bangladesh has the fastest growing class of rich people in the world today, according to a global report.

In six years between 2012 and 2017, the country has seen a 17.3 per cent growth in the number of what is called ‘Ultra High Net Worth (UHNW)’.

Bangladesh has thus surpassed all other countries, according to the World Ultra Wealth Report 2018 by US-based WEALTH-X, reports UNB.

UHNW refers to individuals with a net worth of US$30 million or more.

WEALTH-X found only five countries in the world that have posted double digit growth in the number of their rich people, said the latest report released on 5 September. These countries are: Bangladesh (17.3 per cent), China (13.4), Vietnam (12.7), Kenya (11.7) and India (10.7).

“Looking at a broader range of nations, China – perhaps surprisingly – is not the global leader. That status lies with Bangladesh, which has registered compound annual growth in its UHNW population of 17.3 % since 2012,” reads the report.

The performance of the countries such as Vietnam, Kenya and India also illustrates ‘significant opportunities for wealth creation across the emerging world’, added the report.

Five other countries that are among top 10 are: Hong Kong (9.3 percent), Ireland (9.1), Israel (8.6), Pakistan (8.4) and United States (8.1).

The number of rich rose by 12.9 per cent globally in the six years.

Their combined wealth surged by 16.3 per cent to $31.5 trillion, implying healthy gains in average net worth.

In terms of richest concentration of rich people, the top 10 countries are: The United States (79,595 UHNW population), Japan (17,915), China (16,875), Germany (15,080), Canada (10,840), France (10,120), Hong Kong (10,010), United Kingdom (9,370), Switzerland (6,400) and Italy (5,960).

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SEPTEMBER 11, 2018

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RICH IN BANGLADESH RISING FASTER THAN ANYWHERE

RICH IN BANGLADESH RISING FASTER THAN ANYWHERE

Star Business Report

Bangladesh has topped the list of countries that saw the quickest growth in the number of ultra-wealthy people between 2012 and 2017, according to a new report from New York-based research firm Wealth-X.

The number of ultra-high net-worth (UHNW) individuals in Bangladesh rose by 17.3 percent during the period, the World Ultra Wealth Report 2018 shows.

UHNW individuals are defined as people with investable assets of at least $30 million, usually excluding personal assets and property such as a primary residence, collectibles and consumer durables.

In terms of growth, Bangladesh is ahead of China, Vietnam, Kenya, India, Hong Kong, Ireland, Israel, Pakistan and the US.

Although the US recorded the weakest growth in its ultra-wealthy population, it remained by far the leading country for UHNW individuals in 2017, accounting for a 31 percent share.

The US was home to 79,595 ultra-wealthy individuals last year, followed by Japan, China, Germany, Canada, France, Hong Kong, the UK, Switzerland and Italy.

Among the top 10 countries, China and Hong Kong have achieved the strongest gains in their ultra-wealthy populations over the past five years. In contrast, those of Japan, Canada, Italy and the UK have largely stagnated. Looking at a broader range of nations, China – perhaps surprisingly – is not the global leader.

“That status lies with Bangladesh, which has registered compound annual growth in its UHNW population of 17 percent since 2012,” said the report.

“Double-digit increases have also been posted by Vietnam, Kenya and India, illustrating the significant opportunities for wealth creation across the emerging world.”

To size and forecast the ultra-wealthy population and its combined wealth, Wealth-X uses proprietary Wealth and Investable Assets Model, which covers the top 75 economies that account for 98 percent of the global GDP.

To estimate total private wealth, it uses econometric techniques that incorporate a large number of national variables such as stock market values, GDP, tax rates, income levels and savings from sources such as the World Bank, the International Monetary Fund, the Organisation for Economic Cooperation and Development and national statistics authorities.

Wealth-X estimates wealth distribution across each country’s population.

According to the report, in 2017, the world’s UHNW population rose by 12.9 percent to 255,810, a sharp acceleration from a year earlier. Their combined wealth surged by 16.3 percent to $31.5 trillion, implying healthy gains in average net worth.

The finance, banking and investment sector was the primary industry focus for the largest proportion of the global ultra-wealthy population in 2017, accounting for a 14.2 percent share.

Manufacturing was the second most significant industry, with its share edging higher to 7.6 percent.

The proportion of the global ultra-wealthy population whose fortunes are predominantly self-made continued to increase last year, hitting 67.5 percent.

The global ultra-wealthy population remains heavily male dominated, although the proportion of women has risen gradually over recent years and increased further in 2017 to a record high of 13.7 percent.

The number of UHNW women grew by an estimated 31 percent to just under 35,000.

Philanthropic activity is cited regularly as one of the main interests of the global ultra-wealthy population.

Education is the top charitable cause among men and women, with around a third of UHNW individuals directing at least part of their philanthropic endeavours to programmes such as scholarships, outreach courses, teacher training and more.

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SEPTEMBER 12, 2018

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GDP GROWTH 8.13%, BREAKS PREVIOUS RECORDS: MINISTER

GDP GROWTH 8.13%, BREAKS PREVIOUS RECORDS: MINISTER

Bangladesh’s economy has grown 8.13 per cent this fiscal year, the highest in its history, Finance Minister AHM Mustafa Kamal said while releasing a provisional estimate.

The minister disclosed the latest figure of the gross domestic product (GDP) for 2018-19 fiscal year, which will end this July.

Meanwhile, the government at the Executive Committee of the National Economic Council (Ecnec) meeting passed a revised budget of Tk 1,74,620 crore which was originally Tk 1,80,000 crore.

MARCH 19, 2019

Posted in ACHIEVEMENTS - SUCCESS, CHALLENGES, CURRENT ISSUES, Distribution & Poverty, ECONOMY, ENERGY - NATURAL RESOURCES, FOREIGN RELATIONS & POLICY, GLOBAL INDICATORS & BENCHMARK, GROWTH & TARGET, INDUSTRIES, STRATEGY & POLICY, TRADE BODIES | Leave a comment

‘BANGLADESH WILL ACHIEVE 8% GROWTH IN FY2019 – ADB

‘BANGLADESH WILL ACHIEVE 8% GROWTH IN FY2019 – ADB’

Bangladesh’s economy will grow at 8 per cent in the fiscal 2019, Asian Development Bank said today in its outlook for the economy.

“Bangladesh’s economy is in a good shape and is likely to grow,” it said in the report ‘Asian Development Outlook 2019’ published this morning.

The Manila-based lender also remarked that “Bangladesh is likely to be the fastest growing economy in Asia and the Pacific” in its report.

It underlined that such momentum is needed to sustain to achieve Bangladesh’s goal of becoming a higher middle-income country and beyond.

ADB Country Director Manmohan Parkash briefing media at the bank’s office in Dhaka’s Agargaon area on Wednesday, April 3, 2019. Photo: STAR”>

ADB added, Bangladesh must focus on prudent macroeconomic policies, sound debt management, resource mobilisation, and strengthening banking sector.

Bangladesh is confident that it will surpass the 8 per cent growth threshold in the current fiscal year on the back of manufacturing and service sectors.

Finance Minister AHM Mustafa Kamal has said the growth in fiscal 2018-19 is likely to be 8.13 per cent, up from 7.86 per cent from previous year.

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APRIL 03, 2019

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RECORD 7.86 PERCENT GDP GROWTH OF BANGLADESH ECONOMY IN 2018

RECORD 7.86 PERCENT GDP GROWTH OF BANGLADESH ECONOMY IN 2018

In recent years Bangladesh witnessed record economic growth. Under the leadership of nations founder Sheikh Mujibur Rahman’s Daughter Sheikh Hasina, Bangladesh is aiming for the Digital transformation of its economy and development in key SDG Human Development indicator. The Awami League lead government is giving highest priority to developing the energy sector. Now 90 Percent population Have Access To The Elctrecity .

Bangladesh has ranked 18th among the 25 most powerful countries in the Asia-Pacific in the survey of the Lowy Institute.  Bangladeshi economy is projected to grow from $180 billion to $322 billion by 2021 according to IMF.

Despite various environmental challenges, Bangladesh maintained robust growth. Its exports have rebounded – primarily led by the Ready-Made Garments (RMG) sector – with a 6.33% growth in FY18, compared with 4% in the previous year and  17% growth in remittances.

The national poverty rate fell in both rural and urban areas. The poverty rate stands at 21.8 percent and the extreme poverty rate at 11.3 percent in 2018, which was 23.1 percent and 12.1 percent respectively in 2017.

Bangladesh Investment Development Authority received the proposal of $23.25 billion for investment from, foreign and joint venture sources in 2017.

Exports and private investments are likely to be the key growth drivers. The national foreign reserve has increased more than five times in last 10 years from $6.14 billion in 2007-08 to $32.21 billion in March 2017 and $33 billion in August 2017 .

The stock market size of the Dhaka Stock Exchange in Bangladesh crossed  USD 50 billion in August 2010. Bangladesh had the best performing stock market in Asia during the recent global recession between 2007 and 2010.

The banking sector, the most important
player in the money market, has continued to move in the
wrong direction. Despite some push from the BB, asset
quality and governance has not improved. State-owned
various Bank performed with a poor record of
large non-performing loans.

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SEPTEMBER 20, 2018

Posted in ACHIEVEMENTS - SUCCESS, CHALLENGES, CURRENT ISSUES, ECONOMY, FOREIGN RELATIONS & POLICY, GLOBAL INDICATORS & BENCHMARK, GROWTH & TARGET, INDUSTRIES, REFLECTION - Refreshing our Memories, SOCIO-ECONOMY -- Inequality, Poverty, Distribution & Poverty, STRATEGY & POLICY | Leave a comment

ECONOMY MARCHES TOWARDS RECORD 7.65PC GROWTH

ECONOMY MARCHES TOWARDS RECORD 7.65PC GROWTH

The Bangladesh economy is charging towards record growth figure for the second consecutive year, driven by double-digit growth in manufacturing and construction sectors.

GDP growth in fiscal 2017-18 is likely to be 7.65 percent, up from 7.28 percent a year earlier, as per the estimate of the Bangladesh Bureau of Statistics.

This is the third consecutive year that the economic growth was above 7 percent after years of languishing in the neighbourhood of 6 percent.

The rise in construction growth is attributable to progress in implementation of mega projects and increased growth in housing construction, stimulated, among others, by recovery in remittance, said Zahid Hussain, lead economist at the World Bank’s Dhaka office.

The provisional estimates show that the manufacturing sector grew 13.18 percent this fiscal year and the construction sector 10.11 percent.

The provisional figures are based on data from the past 6 to 9 months.

Various macroeconomic indicators are now showing positive trend, he said, citing export and remittance as examples.

“Due to these causes, growth was good. Besides, there is no depression in world economy, which also helped,” the planning minister added.

Kamal’s disclosure comes after Finance Minister AMA Muhith on Sunday said the economy is on track to log in better GDP growth figures than last year even though it is an election year.

The BBS data shows that the agriculture sector, whose contribution to the GDP is 14.10 percent, grew 3.06 percent in fiscal 2017-18, up from 2.97 percent last year.

The services sector, whose contribution to the GDP is 52.85 percent, grew 6.33 percent this year, down from 6.69 percent registered a year earlier.

There was a decrease in growth of wholesale and retail trade, transport and communication, financial intermediation, education, health and social work sectors. Only hotel and restaurants saw higher growth.

The industrial sector, whose contribution to the GDP is 33.71 percent, grew 11.99 percent against 10.22 percent in fiscal 2016-17.

The work of various mega projects including the Padma bridge and metro-rail are advancing rapidly, said the BBS report.

“Investment in both the public and private sectors is rising this year. In the construction and housing sector, there is a positive trend this time. This is why the industrial output is increasing,” Kamal said.

Hussain though found the manufacturing sector’s growth to be puzzling.

“Where did it come from? Is it exports?  Clearly not, because the export to GDP ratio has declined to 14.04 percent from 14.36 percent. Is it addition of new manufacturing capacity?  Again, the answer appears to be no.”

The private investment to GDP ratio increased marginally from 23.1 percent in fiscal 2016-17 to 23.25 percent in fiscal 2017-18.

“This leaves increased capacity utilisation as the source of such high manufacturing growth.  Was there so much slack in manufacturing to begin with?”

But, gas production is projected to increase by 1.32 percent, coal production declined 20.47 percent, electricity production plus imports increased 9.4 percent, and industrial raw materials import in nominal dollars increased 8.2 percent.

Employment in manufacturing increased 2.3 percent in 2017, according to the latest labour force survey.

“Growth in none of these inputs mirrors the image of 13.2 percent manufacturing growth. Hence, the puzzle,” he added.

Meanwhile, at the Ecnec meeting yesterday, the planning minister presented the GDP size and per capita income in dollar term.

In dollar term, the GDP size is $274.5 billion this fiscal year, which was $249 billion last year. The country’s per capita income is $1,752, which was $1,610 in fiscal 2016-17.

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APRIL 04, 2018

Posted in ACHIEVEMENTS - SUCCESS, CHALLENGES, CURRENT ISSUES, ECONOMY, ENERGY - NATURAL RESOURCES, FOREIGN RELATIONS & POLICY, GLOBAL INDICATORS & BENCHMARK, GROWTH & TARGET, INDUSTRIES, REFLECTION - Refreshing our Memories, SOCIO-ECONOMY -- Inequality, Poverty, Distribution & Poverty, STRATEGY & POLICY, TRADE BODIES, WORLD - GEOPOLITICS | Leave a comment