ZCZC
BSS-08
PM-SAUDI-BUSINESS-2 LAST RIYADH
The premier said Saudi investment to Bangladesh now stands at US$ 5 billion
in 25 projects and it primarily focuses on the areas of agro-based industry,
food and processed food, textiles and garments, leather, petro-chemical,
engineering and service sector products.
In March 2018, she said, the UN declared Bangladesh eligible for
graduation from LDC group to a developing country.
Sheikh Hasina said the government is implementing its Vision-2021 since
2009 to materialise the dream of Father of the Nation Bangabandhu Sheikh
Mujibur Rahman.
“Using graduation as stepping stone, we are now working on the Vision-2021
of becoming a developing country and Vision-2041 of becoming a developed
country,” she said.
The prime minister said Bangladesh is now the 32nd largest economy in the
world in terms of purchasing power parity. “Poverty rate has fallen to 21.8
percent in 2018 from 41.5 percent in 2006 and last year, our economy was
among the top 10 fastest-growing economies of the world.”
Despite the global economic turmoil, she said, Bangladesh maintained a
sustained GDP growth over 7 percent during last 10 years reaching 7.86
percent this year. “We are expecting to reach 8.25 percent GDP growth next
year,” she said.
The prime minister said at the same time, inflation has decreased to 5.4
percent and foreign currency reserve has grown more than 9 times since 2008-
2009, up to US$ 33 billion in 2018.
Sheikh Hasina said technology and innovation are bringing fast economic
transformation in Bangladesh. “Currently, Bangladesh is the second largest
RMG exporter in the world market exporting products worth of US$ 30.651
billion in last fiscal year,” she said.
Having gained self-sufficiency, she said, Bangladesh is now the 3rd
largest producer of vegetables, 4th largest producer of rice and 3rd largest
producer of inland fisheries in the world.
The premier said the pharmaceutical industry is one of the vibrant sectors
in Bangladesh, which is currently meeting 98 percent of local demand and
exporting to about 125 countries.
Sheikh Hasina said shipbuilding is another area that is flourishing in
Bangladesh. “We’re exporting medium-size oceangoing vessels to a number of
European countries.”
Talking about her government’s vision of materialising ‘Digital
Bangladesh’, she said the underlying premise of this vision is to promote
people’s wellbeing.
“Widespread introduction of internet-based public service delivery has led
to growth in job creation at the grassroots level,” she said.
The premier said power generation capacity has gone over 20,000 megawatts
from 3,200 megawatts in 2009. “We are building coal-based super-critical
power generation plants to ensure sustainable power supply,” she said.
Sheikh Hasina said about 90 percent of the country’s population has come
under electricity coverage. “With the launch of the work on the Rooppur
Nuclear Power Plant, we’ve moved a step ahead in the peaceful use of nuclear
energy,” she said.
CSC chairman Dr Sami A Alabadi, its Secretary General Dr Saud A Almashari
and Saudi Ambassador to Bangladesh Abdullah H M Al-Mutairi also spoke on the
occasion.
The Bangladesh delegation included Bangladesh Foreign Minister AH Mahmood
Ali, PM’s Private Sector Development Affairs Adviser Salman F Rahman,
Chairman of Bangladesh Investment Development Authority Kazi Md Aminul Islam,
Foreign Secretary Md Shahidul Haque, Bangladesh Ambassador to the KSA Golam
Moshi.
Acting FBCCI President Sheikh Fazle Fahim, BGMEA President Siddiqur Rahman
and other business leaders from Bangladesh also attended the meeting.
BSS/SH/GMR/MRI/1609 hrs