Skip to main content

World Bank Marks the Economic Impediments

Image
By A Pro-Bangladeshi

World Bank has highlighted four major hindrances in the economic growth of any nation. They have said that the chaotic situation in Middle-East, shortage of Euro, ever increasing price of oil in the international market and local energy crisis are the main issues behind the sloth speed economic development of a nation. The government of Bangladesh has to put their focus on these issues to attract more foreign direct investment in the country.

The energy crisis of Bangladesh is now worse than ever. The already established factories in the country are suffering from production loss due to heavy load shedding. This situation is repelling new investors from establishing industries in Bangladesh. The new power plants set up by the current government are all oil run. This is also a major problem for foreign investors as the price of oil is continuously increasing in the international market. The price hike of oil is causing the production cost to go up. The prospect of a low profit is making the foreign investors have second thoughts about investing in Bangladesh.

The internal conflicts in the Middle Eastern countries are also having a negative impact on the economy of Bangladesh. The Bangladeshi emigrants working on those countries used to send approximately US$12 billion in remittance per year to Bangladesh. The conflicts have stopped their work and sharply reduced the annual remittance Bangladesh used to get from that sector. Therefore, the government is facing trouble importing a lot of raw materials needed for the industries and also they are being unable to develop the infrastructure of the already established industries.

Therefore the overall situation in Bangladesh is not so appealing for the foreign investors right now. The government cannot do anything about the international situation but the internal crisis such as the shortage of electricity can be resolved to attract more FDI in Bangladesh.
Labels:

Comments

Post a Comment

Popular posts from this blog

About Nasir Group

By The Economist
Nasir Group is one of the largest industrial conglomerates in Bangladesh. The industries include industrial glass, tobacco, printing and packages, light engineering, melamine. It is one of the leading industries in glass manufacturing sector of the country. The company started its journey in 1977. Now this group expands in every industrial sectors of Bangladesh like tobacco, melamine, printing and packaging and footwear. Recently it started producing energy saving light bulbs. Nasir group has a great role in socio-economic development of the country. Dominance in Glass Sector Glass is one of the products of Nasir Group of Industry. Nasir group has a vital role to make Bangladesh self-sufficient in glass sector. This company provides a large portion of glasses to meet country’s demand. Nasir group started float glass production in 2005. The company built its glass manufacturing factory in Gazipur at a cost of Tk.300 crore. Nasir Glass now holds more than 40 percent of the total mark...
Post a Comment
Read more

After Beximco Group, Square Group and Pran Group, PHP Family is coming up

By The Economist
Along with Beximco Group, Square Group, Pran Group, PHP Family is contributing immensely to the economic progress of Bangladesh. Beximco Group and Square Group are the top private sector players but companies like PHP Family are coming up. Sufi Mohammed Mizanur Rahman, an ex banker, established PHP Group which was later re-named as PHS Family. PHP Float Glass is a concern of PHP group and is the pioneer of glass industries in the country. Now PHP float glass industry is the largest glass producer. Ample success in Glass sector along with other indusial sector, PHP group is contributing much to the development of the country. PHP float glass industry limited is Chittagong based sister concern of PHP group. Built on 30-acres of land, with a total investment of Tk 300 crore, the PHP Float Glass Industry at Barabkunda of Sitakunda in Chittagong launched its commercial production in 2005.It produces various types of glass according to local demands. It produces clear-glass sheet of 2MM...
1 comment
Read more

Bangladesh's fashion industry

By The Economist
Fashion is a popular style or practice, especially in clothing, footwear, accessories and makeup. Fashion is a distinctive and often habitual trend in the style in which a person dresses up. Fashion industry is the product of modern age. In the past tailors and dressmakers were undoubtedly responsible for the innovation of fashion and changing fashion as well. Actually fashion depends on taste of people. For this reason fashion varies from region to region.  Before 20th century most of the dresses were handmade. At the beginning of 20th century fashion magazines were more responsible for adopting and changing fashion. But at present media, social network, fashion websites play the most important role for changing fashion. Though the people of Bangladesh have a unique fashion of their own, they also follow the fashion of many countries. For this there is huge opportunity for the fashion industry to grow. As a result, depending on the taste of Bangladeshi people a huge numbe...
1 comment
Read more