2023-11-08 11:00:00
Opportunities in Bangladesh
Bangladesh has nearly 164 million inhabitants, making it one of the most populated countries in the world and potentially sizeable markets in terms of GDP. Bangladesh offers considerable potential as a base for labor-intensive manufacturing. Bangladesh has a very youthful demographic. 59.3% of the population is economically active. The Gross Domestic Product (GDP) in Bangladesh expanded 6.12 percent in 2013-2014. [1]The foreign exchange reserve crossed around USD 21 billion on July, 2014. Foreign Direct Investment (FDI) in Bangladesh increased by 44.83 percent to USD 1.73 billion, the highest in fiscal year 2012-2013. [2] The total export of Bangladesh has crossed USD 30.18 billion concluded fiscal year 2013-2014. [3]
The geographic location of the country is ideal for global trade, with very convenient access to international sea and air routes. Bangladesh is endowed with abundant supply of natural gas, water and its soil is very fertile. Government has been working to improve efficiency of especially in the field of power generation. By 2021, demand for electricity is projected to increase to 20,000 MW. Energy cost in Bangladesh USD 0.07/KwH is lower compared to India USD 0.095/KwH and Pakistan USD 0.08/KwH. [4]
Currently, Bangladesh has eight Export Processing Zones (EPZs) which provide the infrastructures, facilities, administrative and support services for a wide variety of enterprises. It is relatively easy to invest 100% as a foreign company in Bangladesh. Government has been working to improve efficiency of the Chittagong Port which has the potential of doubling their capacity also are long term plans of establishing a deep sea port in Sonadia. These ‘Best of Bangladesh’ are recognizing opportunities and creating world-class corporations.
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