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BD sets sights high on $1.0trillion investment

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The government now sets sights high on US$ 1.0 trillion investment for elevating Bangladesh to a developed nation. To this end, an international projection will be arranged in Dhaka this month.

Dhaka Chamber of Commerce and Industry (DCCI) will organise the seminar titled 'New Economic Thinking for Bangladesh: 2030 and Beyond' on December 21, sources in the business circles said.

Prime Minster Sheikh Hasina will inaugurate the event. There will be five sessions apart from the opening and concluding plenary.

Several hundred people, including ministers, entrepreneurs, economists, consultants, researchers from developed and emerging markets, will deliver their thoughtful perceptions on changing dynamics of South Asian Association for Regional Cooperation (SAARC), European Union (EU), Association of South East Asian Nations (ASEAN) and North American Free Trade Agreement (NAFTA) and in particular on Bangladesh future.

They (international dignitaries) will share their thoughtful and innovative ideas with the local businesspeople and government officials.

They will also share their perceptions on practical solutions for sustainable development through global innovative efforts.

Besides, representatives from leading companies, venture-capital firms, academic institutions and non-governmental organisations (NGOs) from around the globe are expected to join the investment-promotion event.

The five sessions are: Bangladesh's Energy Economy, Water and Land Resource Management-Sustainability and Environment Impact, Era of Infrastructure: Bangladesh Context, Sustainable Development Goals (SDGs) 2030 and the Next Billion Dollar Opportunities in Bangladesh.

The seminar will come up with a 'national action plan' with the recommendations of experts for achieving a long-lasting economic development.

World economic growth is hovering around 3.0 to 3.5 per cent (1.5 per cent growth by Europe, 2.4 per cent by USA, 3.4 per cent by Sub-Saharan economies and around five (5.0) per cent by Asian economies).

"Bangladesh has managed a steady ascending curve in growth over the last two decades, which now stands at 7.11 per cent," according to the DCCI.

Bangladesh is projected to graduate to a middle-income country (MIC) by 2021 featured by eight (8) per cent gross domestic product (GDP) growth, 34 per cent private investment and 31 per cent industrial growth.

The country could be 30th-largest economy by 2030, having a double-digit economic growth and $6,000 per-capita income, and is likely to join the club of developed economies by 2041 through a glorious paradigm shift from conventional economy.

President of DCCI Hossain Khaled said Bangladesh is moving forward with the improvement of quality of life and other perspectives.

"The seminar will help us to counter the obstacles in our economic advancement. Our vision is ambitious, which is to reshape the path of economic growth," he said.

"Thoughtful deliberations of outstanding individuals from around the globe will help contribute to national economic policy reforms and set realistic action plan that will lift Bangladesh to the ranks of developed economies within the next 30 years," he said.

Group President of GIC, Singapore, Lim Siong Guan, British Parliament member Rushan Ara Ali, Columbia University Professor Jeffrey D Sachs, country manager for Bangladesh, Bhutan and Nepal, the International Finance Corporation, the World Bank Group, Wendy Jo Werner, Senior Project Manager, Gate 21, Denmark, Anders Hasselager, Head of Business Development, ME SOLshare Ltd, Bangladesh Daniel Ciganovic, Professor, Water Diplomacy, The Fletcher School of Law and Diplomacy Shafiqul Islam, University of Paris XII Professor Remy Prudhomme, Director of Suez Branch Jean Claude Seropian and senior representative of Japan International Cooperation Agency (JICA), Bangladesh office, Taku Yamabe are among the dignitaries to participate in the upcoming international visionary seminar.

source: www.thefinancialexpress-bd.com/2016/12/12/56023/BD-sets-sights-high-on-$1.0t-investment
 
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does bengalis even know how many zeros are there in a trillion?

I believe the following people know how to count zeros

Group President of GIC, Singapore, Lim Siong Guan, British Parliament member Rushan Ara Ali, Columbia University Professor Jeffrey D Sachs, country manager for Bangladesh, Bhutan and Nepal, the International Finance Corporation, the World Bank Group, Wendy Jo Werner, Senior Project Manager, Gate 21, Denmark, Anders Hasselager, Head of Business Development, ME SOLshare Ltd, Bangladesh Daniel Ciganovic, Professor, Water Diplomacy, The Fletcher School of Law and Diplomacy Shafiqul Islam, University of Paris XII Professor Remy Prudhomme, Director of Suez Branch Jean Claude Seropian and senior representative of Japan International Cooperation Agency (JICA), Bangladesh office, Taku Yamabe are among the dignitaries to participate in the upcoming international visionary seminar.
 
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Once again people looking at the headline and jumping into mock....

This is obviously not a target for the next 5-10 years, rather a cumulative investment over the next x amount of years...with x being a mid to long term number!
 
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Hopefully if everything goes smoothly, then by 2030-35 should be achievable.
 
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does bengalis even know how many zeros are there in a trillion?

Try to read the article first before posting.

It says 1 trillion investment to reach developed status. I guess the targeted timeline is 2041. And It is not impossible. They are trying to turn Bangladesh into a processing hub . They are already allotting 100 export processing zone all over the nation.

At present only 12 EPZ are running and they have helped to increase the export to 30 B plus
 
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Once again people looking at the headline and jumping into mock....

This is obviously not a target for the next 5-10 years, rather a cumulative investment over the next x amount of years...with x being a mid to long term number!

You cannot expect better from unemployed PDF keyboard guerrillas whose income statement has probably a lot of zeros too before the dot.
 
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Not to mention - the article itself quotes -

"The seminar will help us to counter the obstacles in our economic advancement. Our vision is ambitious, which is to reshape the path of economic growth," he said.

You aim for a C, you'll end up with a C-/D...you aim for an A+ and even you don't get it, a B+ ends up looking pretty good.
 
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Try to read the article first before posting.

It says 1 trillion investment to reach developed status. I guess the targeted timeline is 2041. And It is not impossible. They are trying to turn Bangladesh into a processing hub . They are already allotting 100 export processing zone all over the nation.

At present only 12 EPZ are running and they have helped to increase the export to 30 B plus

Actually you haven't read the article properly as well. There are too many flaws to talk about so I will just highlight one as you talked about it

The country could be 30th-largest economy by 2030, having a double-digit economic growth and $6,000 per-capita income, and is likely to join the club of developed economies by 2041 through a glorious paradigm shift from conventional economy.

It says Bangladesh's GDP per capita will be 6000 usd so they are not certainly talking about investment as you claimed they are talking about the GDP per capita... and where on earth is 6000 usd per capita income called developed economy? specifically in 2041?

They are simply talking about 1000 billion usd of investment without giving any time period, something on the lines of CPEC which is impossible to gain for a nation like Bangladesh or Pakistan in a short period of time. They simply cannot consume so much of investment due to the small size of their economy and limited resources. It is simply impossible under present circumstances to have lets say 50 - 100 billion dollars per year of investment if they are targeting 10 to 20 years in mind

Bangladesh's economy would have grown to over 1 trillion USD anyway (without any investment) if they are really talking about just the GDP
 
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Actually you haven't read the article properly as well. There are too many flaws to talk about so I will just highlight one as you talked about it



It says Bangladesh's GDP per capita will be 6000 usd so they are not certainly talking about investment as you claimed they are talking about the GDP per capita... and where on earth is 6000 usd per capita income called developed economy? specifically in 2041?

They are simply talking about 1000 billion usd of investment without giving any time period, something on the lines of CPEC which is impossible to gain for a nation like Bangladesh or Pakistan in a short period of time. They simply cannot consume so much of investment due to the small size of their economy and limited resources. It is simply impossible under present circumstances to have lets say 50 - 100 billion dollars per year of investment if they are targeting 10 to 20 years in mind

Bangladesh's economy would have grown to over 1 trillion USD anyway (without any investment) if they are really talking about just the GDP

Let us wait instead of firing blank into the sky. Because The article expects about 1 trillion investment and they are going to elaborate it

The government now sets sights high on US$ 1.0 trillion investment for elevating Bangladesh to a developed nation. To this end, an international projection will be arranged in Dhaka this month.
 
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If BD is to achieve $6000 per capita by 2030, it will have to grow its per capita income at 11% yoy.

That will take BD to $20000 per capita by 2041. Basically, a $4T economy. That needs a GDP growth that averages to 12.5% the next 26 years.

Quite ambitious.
 
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Let us wait instead of firing blank into the sky. Because The article expects about 1 trillion investment and they are going to elaborate it
The gentleman just messed up the facts in the article. There is hardly any need for elaboration...

if he wanted to convey Bangladesh would have become a trillion dollar economy by 2041 then my estimation suggests it will happen far sooner. If he was trying to convey Bangladesh would have become a developed nation with that trillion dollar and its gdp per capita of 6000 usd will make it a developed nation then I am afraid such a low income will not be regarded as developed however there will certainly be a lot of infrastructure in Bangladesh by 2041... He probabaly doesn't know what he is trying to convey and gathered the figures from here n there... Just an attempt from him to be optimistic about Bangladesh's economy

If BD is to achieve $6000 per capita by 2030, it will have to grow its per capita income at 11% yoy.

That will take BD to $20000 per capita by 2041. Basically, a $4T economy. That needs a GDP growth that averages to 12.5% the next 26 years.

Quite ambitious.
i think the article is talking about 6000 usd per capita by 2041 which is a wrong figure as well... but lets suppose it is

210 million x 6000 = 1.2 trillion usd

Bangladesh is likely to be way stronger than that
 
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