General Info: Bangladesh came into being as the People’s Republic of Bangladesh when Bengali East Pakistan seceded from the union with (West) Pakistan in 1971.
The Growth of Bangladesh
Bangladesh has an impressive track record of growth and development. It has been among the fastest-growing economies in the world over the past decade, supported by a demographic dividend, strong ready-made garment (RMG) exports, remittances, and stable macroeconomic conditions. With that being said, the country made a strong economic recovery from the COVID-19 pandemic.
Bangladesh tells the world a remarkable story of poverty reduction and development. From being one of the poorest nations in 1971, Bangladesh had reached a lower-middle-income status in 2015. It is on track to graduate from the UN’s Least Developed Countries (LDC) list in 2026.
Bangladesh has made remarkable progress in achieving food security and reducing poverty. Almost half of the population are employed in the agricultural sector. The annual growth in agriculture has increased from less than 2% during the 1970s-1990s to 3.5% in the last two decades.
Similarly, the agricultural sector has been a powerful driver of poverty reduction: Between 2005 and 2010, the agricultural sector contributed 69% of the total poverty reduction in Bangladesh.
Yet, poverty being a major setback has increased the intensity to find alternatives for the people by the authorities in the process of taking action to develop.
Developing sports can develop the lives of the backward people
- Bangladesh U-19 women’s football team winning the SAAF championship made history.
- This triumph of the women’s junior football team, one of the greatest achievements in the country’s football history, has been able to show one thing clearly – sports can be the tool for eradicating inequality and giving a forward push to those who are lagging.
- Sports generate economic benefits; not only in terms of money but also in terms of tangential benefits. Let’s try to understand how.
“Every evening, I visit the Abahani field to watch the cricket practice sessions and learn from them. I play with my friends and the elder brothers in our area. Playing cricket has become my biggest hobby and it also assists me to stay collected throughout the day. At the end of the day, I enjoy studying with a fresh mind “.
Says: Roton Ahmed lives in the Dhanmondi slum and is a thirteen-year-old who is in class five and attends a JAAGO-sponsored free school
Sports play an intense role among many youth and adults while Bangladesh hits the cricket match and the above reference further elaborates on how U19 women took the lead in football. Sport is one way to let children and youth push the state forward to uplift and develop as well. The first step of initiating and identifying sports skills is recognising villages. Rural people are well-groomed in nature skills as well. The natural skills and talents that exist from a small corner can lead the country to move forward.
The turning point of Bangladesh
Have we ever expected this country to have a turning point? or else a major achievement in regards to the people’s fulfilment?
Bangladesh now has 300 state-of-the-art pharmaceutical companies which meet97% of the domestic needs and export to 70 countries across the world.
Bangladesh has shown extensive development in the medical sector as well,
- It has been recognized by the United Nations for its development as a “remarkable success story.”
- According to an IMF report, Bangladesh is one of the three countries in the world that has achieved the highest economic growth until 2021.
- It provides free textbooks, which number 400 million copies each year. The current enrolment rate in primary school is 98% and the number of universities in Bangladesh has risen to 170.
Reference: https://lnkd.in/dbapVZ-7
Improving Productivity and Technology Adoption to a Globally Competitive Manufacturing Sector
"Bangladesh’s success in readymade garments (RMG) export has created about four million jobs and has driven economic growth. But, in recent years, job creation in the RMG sector slowed due to automation and the trend will likely accelerate in the post-pandemic world”
“Creating more and better jobs is a development priority for Bangladesh. An export-led manufacturing sector can create sustainable and better-paying jobs by adopting better technologies”
Infrastructural Development in Bangladesh
- “Symbol of National Pride”: Bangladesh opens its longest river bridge
“Some people said we would always be beholden to others, but our Father of the Nation Bangabandhu Sheikh Mujibur Rahman taught us the importance of self-respect,” Hasina said, addressing a sea of people on Saturday.
“This Padma Bridge is not a pile of brick and cement, but a symbol of Bangladesh’s pride, honour and ability,” she said.
“We have shown the world that we can.” Sheikh Hasina said Al Jazeera
- Bangladesh’s Friendship Hospital was named the world’s best new building
The sustainable, climate-conscious Friendship Hospital in southeast Bangladesh, complete with a canal running through its centre, has been crowned the world’s best new building by the Royal Institute of British Architects.
The Economic Development of Bangladesh in the Asian Century
According to the World Bank, the country has been among the fastest-growing economies globally over the past decade.
Few countries in the developing world have not shown such a promise of economic prosperity as Bangladesh. The rising nature of the country’s economy raises interesting questions pertaining to whether good governance may lead to sustained economic growth.
In a termination, Bangladesh’s GDP has a high leeway to amplify in the vicinity of duration. Exclusively, the country is underway to enlarge in contrast to other countries in terms of sports for both males and females, technological aspects in terms of education and working space in factories. Further, developing infrastructure in the context of building a bridge by facilitating the people to make their life and basic daily routine easier. The development process in the medical sector is too intense like building large hospitals and developing large pharmacies with the availability of medicines. This has a high chance to change the poverty and downfall of the economy and bring the country to a reasonable level.
