Bangladesh to be competitive with or stronger than Europe by 2050?

An article published in the Guardian last week states that Bangladesh economy could well be stronger than Europe by 2050, though the previously discussed political instability really does want to be quashed else it risks hampering progress.

Anyway this comes as no surprise to us for we see growth picking up year on year. By way of example Bangladesh has just passed the metro rail plan which will be super fast and expected to be completed by 2024. This investment will help reduce traffic jams, which help businesses, individual’s and make international trade faster. This is far from the only investment in infrastructure (both physical and in terms of people) which in all likelihood will result in the kinds of growth we have previously seen in China and India (though Bangladesh has certainly not been left completely behind here).

That said Bangladesh needs investment to grow, indeed remittances still form a large chunk of money entering the country, as it has ample resources to offer but to realise their value will still take investment. Quick growth has happened several times to countries in similar positions but it is noted that this takes investment to pull off. Helping matters here is that Bangladesh has built good relationships throughout Asia and has strong ties to major players likes Japan, China and India; huge volumes of Chinese goods are imported to the country, Japan is major provider of cars (the import of top tier cars is often as telling as any large volume of statistics) and finance and India has goods coming on daily basis from garments to jewellery and fresh produce. All this this will help the trading position as the country grows year on year. To match this the banking and finance sectors are stepping up their game with a lot of financing options and a modern, competitive financial infrastructure, much of this was not readily available a few years back. This all serves to help make Bangladesh and similar such countries that we also deal in increasingly solid investment prospects.