Open economy model and strong digital network to facilitate the ambitious

Amidst fast urbanization, Bangladesh looks for complete digital transformation. With progressive approach of Prime Minister Sheikh Hasina and her advisers like Salman F Rahman, Mashiur Rahman, expected investments and developments are set to rise.

Developing countries like Bangladesh, India, and Thailand are heading towards a more high-value, knowledge-intensive society, which is beyond the conventional paradigm. Attributing to huge economic growth, Bangladesh has surpassed many countries and emerged as a "development miracle". Propelled by a robust manufacturing sector and an enormous boom in the infrastructure, the South Asian nation has an ambitious target ahead, to become a developed nation by the year 2041.

Just last year, Bangladesh successfully exported 12 industrial robots to South Korea and 4 ships to India. This speaks volume about the transformation this country has witnessed in the last few years— an example of innovative and adopting technologies. Bangladesh is also urbanizing at a rapid pace. There will be more energetic and digitally connected Bangladesh and in fact, the same can be observed as the country currently already has about 110 million active internet subscribers.

From paying mobile and electricity bills, to advanced technologies like Artificial Intelligence, Robotics, Big Data, there is a huge spur in the number of digital users in the world.

Thus, in order to transform the country into a "Digital Bangladesh", the government has ensured 100% ICT access for people at the grassroots in 2009. At a recent Digital Device and Innovation Expo-2019, the dynamic Prime Minister Sheikh Hasina said, "I am happy to know that Bangladesh Hi-Tech Park Authority and Bangladesh Computer Samity are organizing the Digital Device and Innovation Expo-2019 in Dhaka."

The energetic Prime Minister further stated that Bangladesh has emerged as a successful example in socio-economic development and we are also working to launch Bangabandhu Satellite-2, which is expected to provide more robust services to the subscribers.

This is one of the many development stories of Bangladesh, all thanks to the quality leadership and governance by Prime Minister Sheikh Hasina and her effective advisers like Salman F Rahman, Mashiur Rahman, among others.
 

Owing to their efforts, Bangladesh now offers one of the most liberal investment regimes in South Asia, in terms of legal protection of foreign investment, an unrestricted exit policy, good fiscal incentives, etc. Bangladesh is also establishing about 100 Special Economic Zones with one-stop service across the country. Of them, twelve of the zones are already functioning, where two zones are reserved for the Indian investors as well.

Responsive and reasonable leadership coupled with sound macro-economic fundamentals has opened doors for good investments in Bangladesh. An open economy model has the potential to drive the prospective economic growth and also transform the country into a "Digital Bangladesh".