A story of resurgence
Bangladesh has become one of Asia’s most remarkable and unexpected success stories in recent years. After its independence in 1971 the country remained ravaged by poverty and floods for long, but then came an inflection point in 2006 when this poorest economy of South-east Asia posted economic growth faster than Pakistan, which surprised many economists and many in the world even took it as a fluke. But since then, there was no looking back and today the country is graduating from being a least developed country to join the league of developing nations. The results are already visible, Bangladesh has transformed from being an agri-based economy to an industrialised one over the decades. The contribution of agriculture to the nation’s GDP has decreased from 59.60 per cent in 1972 to 14.77 per cent in 2016, on the flip side the share of industry and service sectors increased to 28.76 per cent and 56.45 per cent respectively.
Bangladesh is now a regular feature in the top 10 fastest-growing economies around the world. It grew at 7.28 per cent in the last fiscal year and if this acceleration of economy progresses undisturbed then it may well march past India on the developmental path.
Bangladesh has a current per capita income of $1,610, its Human Assets Index (HAI) is 72.9 and Economic Vulnerability Index is 25. This feat enables Bangladesh to reduce its economic risks, a major factor considered while making public and private investments into the country, it will fetch easy loans for economic development and attract foreign investment. A lot of investment is already going into strengthening maritime and logistics infrastructure, as Bangladesh is flexing its capacity to use its natural geographic location and transform into a “gateway and connectivity hub” between South Asia and Southeast Asia.
This background gives us every reason to host the second edition of South Asia Maritime and Logistics Forum in Dhaka. Join us on this unique platform to explore business opportunities in South Asia region and connect with the right people. Serious business discussions during the day will be followed by an awards night that brings together the who’s who in the industry to recognise and honour industry giants who made a difference in whatever they do.
See you in Dhaka! R Ramprasad Editor and Publisher firstname.lastname@example.org
Bangladesh is graduating from being a least developed country to join the league of developing nations.