Sheikh Hasina’s meeting with USA businessmen to boost Bangladesh’s growth
Bangladesh, of late, has emerged as a successful business model in the subcontinent, given its adaptation to international market standards. With growth in the exports and ever increasing employment sector, both the public and private sector in Bangladesh have contributed significantly in the last few years.
This has been possible due to increased investments from both the government and developing nations such as the US, Japan, South Korea. Bangladesh in turn, offers these countries an opportunity to explore potential resources along with young demographic dividend, which has the capacity to shape the future developments.
One of the attempts in this context came recently when Prime Minister Sheikh Hasina visited New York along with her team that included the likes of ICT Affairs Advisor SajeebWazed Joy, Private Industry and Investment Advisor Salman F Rahman, Foreign Minister AK Abdul Momen, among others.
Speaking at a roundtable discussion organized by the US Chamber of Commerce in NewYork, Prime Minister Sheikh Hasina said that such investment and engagement are a “win-win option” for both the countries. She further acknowledged the importance of the US as Bangladesh’s 2nd largest trading partner and the largest investment partner. “As the fourth Industrial Revolution is also knocking at our door, it is all the more important that you stay with us in our journey for shared benefit and prosperity,” she said.
It is expected that Industrial Revolution 4.0 could be centered on advanced technologies such as artificial intelligence, block chain, virtual reality and internet of things. Thus, there has been a shift in dynamics and industries altogether are being digitalized. Mode of transactions have changed and the country is now moving towards digital banking, biometrics, etc.
To this, Sheikh Hasina said that Bangladesh has the “most liberal investment policy” in South Asia and the country offers “tremendous potential for it to be the economic hub of the region.
Besides this, the country has also been quite transformative, given the significant increase in the number of businessmen and entrepreneurs. To meet the future objective and understanding the market demands, the government has been pushing for skill development programs, as it can open more doors for talented individuals and arrest the unemployment rate.
Similar ideas were echoed by the Prime Minister’s Private Industry and Investment Advisor Salman F Rahman at a meeting in the capital, where he emphasized on the need for new and budding entrepreneurs to upgrade their skill set to make Bangladesh progress towards development. “The Chinese and Japanese are investing here. So, knowing their languages can help you for the sake of your business,” he said.
Meetings with foreign diplomats led by dynamic Prime Minister Sheikh Hasina, Foreign Minister AK Abdul Momen and Private Industry and Investment Advisor Salman F Rahman are expected to bring more investments in the future. This can accelerate the overall growth of the country, which is already growing at a brisk pace.
Additionally, private players have emerged as a catalyst of change, where new ideas are propping up from different parts of the country. That said, there is a need for further improvement. Bangladesh can adopt an experimental and innovative outlook to build new potential based on advanced technologies and, most importantly, shape the sectors, industries and national agenda locally as well as globally.