Bangladesh poised to be the next Asian Tiger
Bangladesh is a country on the "threshold of doing very well", said Kaushik Basu, the chief economist of World Bank who is currently on visit to this country. He also added of the possibility of Bangladesh becoming the "new Asian Tiger". He lauded the progress of several economic indicators namely per capita income, foreign direct investment and foreign exchange reserves; social indicators are the significant poverty and mortality rate improvements. Mr. Basu furthermore highlighted pathways for improvement: infrastructure, ease of doing business, business ethos and providing training to workers.
Investment to GDP ratio has increased substantially since the economist's previous visit to Bangladesh. The investment of national income is on par with East Asian Economies, but the rate requires a few more percentage points boost to achieve 8% economic growth. Forecasting 6.5-6.7 growth next year, he compared this with that of China.
He urged the country to be ambitious, keeping caution to the wind when opening up to the world which comes with its vulnerabilities and fluctuations. Good infrastructure, great economic as well as monetary and fiscal policies and astute human minds are the forerunners of success for our country, according to WB Economist and Senior Vice President Mr. Kaushik Basu.
He also spoke at the International workshop held in Dhaka about various sectors of the economy. There he emphasized on the potential of the private sector to stimulate growth. He explained the drive of human instinct to make a profit out of business. This can be used to bring the private sector closer to the poor. He also added, the poor can be enabled by extending technology and mobile financial services to them
The economist said the relationship with low income countries and with that of lower middle income economies, which Bangladesh falls under, is very different. He expressed enthusiasm at the passions and professionalism that the Bangladeshi policy makers are putting in to play, even at a developing country construct.
You can find more in this article, of his meeting with Finance minister AMA Muhith.
WB, Bangladesh on track to solid partnership
Bangladesh is a country on the "threshold of doing very well", said Kaushik Basu, the chief economist of World Bank who is currently on visit to this country. He also added of the possibility of Bangladesh becoming the "new Asian Tiger". He lauded the progress of several economic indicators namely per capita income, foreign direct investment and foreign exchange reserves; social indicators are the significant poverty and mortality rate improvements. Mr. Basu furthermore highlighted pathways for improvement: infrastructure, ease of doing business, business ethos and providing training to workers.
Investment to GDP ratio has increased substantially since the economist's previous visit to Bangladesh. The investment of national income is on par with East Asian Economies, but the rate requires a few more percentage points boost to achieve 8% economic growth. Forecasting 6.5-6.7 growth next year, he compared this with that of China.
He urged the country to be ambitious, keeping caution to the wind when opening up to the world which comes with its vulnerabilities and fluctuations. Good infrastructure, great economic as well as monetary and fiscal policies and astute human minds are the forerunners of success for our country, according to WB Economist and Senior Vice President Mr. Kaushik Basu.
He also spoke at the International workshop held in Dhaka about various sectors of the economy. There he emphasized on the potential of the private sector to stimulate growth. He explained the drive of human instinct to make a profit out of business. This can be used to bring the private sector closer to the poor. He also added, the poor can be enabled by extending technology and mobile financial services to them
The economist said the relationship with low income countries and with that of lower middle income economies, which Bangladesh falls under, is very different. He expressed enthusiasm at the passions and professionalism that the Bangladeshi policy makers are putting in to play, even at a developing country construct.
You can find more in this article, of his meeting with Finance minister AMA Muhith.
WB, Bangladesh on track to solid partnership
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