Business Desk :
Vietnam was more or less similar to Bangladesh during the 1980s in terms of exports and attracting foreign investments, but the Asian country has now achieved an enviable position in such indicators – far ahead of Bangladesh.
Experts attribute Vietnam’s success to its government’s export-friendly policy, liberal stance on attracting foreign investments, diversification of export products and markets, boosting human resource development, and joining forces with regional and global economic powers.
“We should focus more on governance. Despite making an EPZ in 1996, Bangladesh is yet to make a final agreement with YoungOne,” Prof Rehman Sobhan, chairman of Centre for Policy Dialogue (CPD), said at a webinar titled “Vietnam’s superb export performance: What lessons might there be for Bangladesh” on Friday.
“They [YoungOne] held discussions to bring Samsung to Bangladesh, but their efforts failed. Samsung then chose Vietnam, and this move brought a revolution to the country’s electronic industry,” said Prof Sobhan.
“We must figure out why Samsung settled for Vietnam despite initially showing interest towards Bangladesh. This move has influenced other investors as well. Why has no other large Korean company – excluding YoungOne – visited Bangladesh as yet?
“Bangladesh is receiving duty free export facilities from various countries, including those from Europe. Vietnam is doing better than Bangladesh in this sector without this facility. We must review the reasons behind this phenomenon,” he said.
