Bangladesh could be 'next China'

Star Business Report, which I want to share with you.

Bangladesh could be 'next China'

In a report, the lender said Bangladesh can become the alternative to China with its labour-intensive exports growing at double digits if it can address infrastructure bottleneck and take advantage of its large pool of underemployed labour-force.

"If Bangladesh could improve the business environment half way to the level of India's, it could increase its trade by about 38 percent," said the report styled "Bangladesh: Towards Accelerated, Inclusive and Sustainable Growth-Opportunities and Challenges".

Capturing just 1 percent of China's manufacturing export markets would almost double Bangladesh's manufactured exports, said the WB report.

Speaking at the event, Ahsan H Mansur, executive director of Policy Research Institute, Bangladesh, said the country would have to capitalise on its demographic dividend in the next 30 years.

Syed Nasim Manzur, managing director of Apex Adelchi Footwear Ltd, said Bangladesh should not chase every country on the planet to bring investment.

Ellen Goldstein, country director of the World Bank, said Bangladesh needs to embark on long-term planning on infrastructure, investment, economic governance and urban management, as the country strives to become a middle income country by 2021.

It also said.

"Others will take the markets China is vacating, if Bangladesh fails to act soon"

Sourec: http://www.thedailystar.net/newDesign/news-details.php?nid=257390#comments