Bangladesh sees an impressive economic transformation: Atiur

Bangladesh has been demonstrating an amazing story of macroeconomic transformation which is resilient, inclusive and broad-based, said Atiur Rahman, former governor of Bangladesh Bank.

He spoke in an international research symposium jointly organised by the Business School of Monash University and the Faculty of Business Studies of Dhaka University in Melbourne.

In his key note address, Rahman highlighted the strengths of Bangladesh economy.

He said the economy is surging ahead in terms of leveraging strategic location, advantageous demographic dynamics, cost advantages, enhanced women participation in formal sector, large domestic market and timely reforms. The government’s determination to implement large infrastructure projects is also sending positive signal to foreign investors, he said.

“Moreover, innovative central banking promoting ease of doing business and financial inclusion has been a complementary factor, supporting such a favourable development journey of Bangladesh.”

He also talked about the challenges like weak ties with neighbours and other growing emerging economies, prevalence of 25 million extreme poor, infrastructure deficit and low skills development. Commenting on a keynote by Prof Fang Lee Cooke of Monash University on human resource management, Rahman argued for continuous upgradation of skills and technical knowledge of both workforce and mid-level management.

He also urged the policymakers of developing countries to invest more in human resources and research and development.