A billion dollar opportunity

Bangladesh has 32 thrust sectors that have the potential to bring billions of dollars in investment and export earnings, according to a seminar organised by Dhaka Chamber of Commerce. The sectors include apparel, agriculture, ICT, light engineering, pharmaceuticals, infrastructure, frozen food, energy, handicrafts, ceramics, tourism and healthcare. To achieve this goal, the country will have to focus on job creation, rethink commerce, mobilise youth human capital, and reduce lending risk, participants of the seminar concluded.

The task now is to work out smart and pragmatic strategies to overcome the challenges. Also, it might be realistic to shortlist the sectors that have greater advantages than others. Bangladesh has come a long way in terms of economic as well as human development defying the naysayers. The industrious people of the country, successive governments, non-government organisations, and cooperation of international community all have a claim to this success story. Greater success is within our reach provided that we get the basics right: peaceful environment, physical infrastructure and transparency.

Tomes of research indicate that corruption is eating away at the gains made. Corruption will have to be curbed. A stronger engagement of the private sector will be essential to attaining any development goals. More emphasis will have to be given on training. A lot of expatriates want to contribute more to the development of the country. Opportunities should be created for them both by the public and the private sectors. We hear a lot of rhetoric on foreign investment. The reality is that confidence remains in deficit. Investors are sceptical for reasons real and perceived.

That Bangladesh is a land of opportunities is no longer news. The job is to turn those into results.