Business Desk :
Bangladesh is likely to be the biggest mover in the global gross domestic product (GDP) in 2030 through becoming the 26th largest economy in the world as predicted by HSBC Global Report “the World in 2030”.
“The country is going to become the 26th largest economy in the world from the current 42nd position followed by the Philippines, Pakistan, Vietnam and Malaysia,” the report added, according to the editorial of the current News Bulletin (July-Sept 2018) of International Chamber of Commerce-Bangladesh (ICCB) released on Wednesday.
It said the brand value of Bangladesh is also rising as the country has ranked 39th in the global brand value index 2018 reflecting its socioeconomic vivacity.
Bangladesh has a brand value of U$ 257 billion, up 24 percent from last year, according to the Nation Brands 2018 report of the London-based Brand Finance.
The ICCB news bulletin said Bangladesh economy has kept up an impressive annual average growth rate of more than 6 percent over the last 10 years and has been increased GDP over the last couple of years. In FY18, the bulletin said, Bangladesh’s GDP growth rate was 7.86. It is believed that the country could have easily achieved 8 percent plus growth by controlling the project implementation time, which would automatically minimise the project cost.
The public sector investment has increased over the last couple of years because of mega projects. But, the private sector investment did not increase proportionately.
For about a decade, private investment to GDP ratio has been stuck at 21 to 23 percent. But, according to country’s growth ambitions, the ratio has to be about 35 percent of GDP. A number of ASEAN countries have achieved higher GDP as their investment to GDP ratio has been in the range of 35-45 percent. It is estimated that Bangladesh needs investment of more than US$ 600 billion for its infrastructure, against which the country can manage around US$ 400 billion.
Bangladesh is likely to be the biggest mover in the global gross domestic product (GDP) in 2030 through becoming the 26th largest economy in the world as predicted by HSBC Global Report “the World in 2030”.
“The country is going to become the 26th largest economy in the world from the current 42nd position followed by the Philippines, Pakistan, Vietnam and Malaysia,” the report added, according to the editorial of the current News Bulletin (July-Sept 2018) of International Chamber of Commerce-Bangladesh (ICCB) released on Wednesday.
It said the brand value of Bangladesh is also rising as the country has ranked 39th in the global brand value index 2018 reflecting its socioeconomic vivacity.
Bangladesh has a brand value of U$ 257 billion, up 24 percent from last year, according to the Nation Brands 2018 report of the London-based Brand Finance.
The ICCB news bulletin said Bangladesh economy has kept up an impressive annual average growth rate of more than 6 percent over the last 10 years and has been increased GDP over the last couple of years. In FY18, the bulletin said, Bangladesh’s GDP growth rate was 7.86. It is believed that the country could have easily achieved 8 percent plus growth by controlling the project implementation time, which would automatically minimise the project cost.
The public sector investment has increased over the last couple of years because of mega projects. But, the private sector investment did not increase proportionately.
For about a decade, private investment to GDP ratio has been stuck at 21 to 23 percent. But, according to country’s growth ambitions, the ratio has to be about 35 percent of GDP. A number of ASEAN countries have achieved higher GDP as their investment to GDP ratio has been in the range of 35-45 percent. It is estimated that Bangladesh needs investment of more than US$ 600 billion for its infrastructure, against which the country can manage around US$ 400 billion.
