Bangladesh
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The State of Bangladesh Economy - November 2010

November 11th, 2010 Sanjay Kathuria, World Banks Lead Economist for Bangladesh, talks about the state of Bangladesh Economic Outlook - November 2010 Accordin...
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Bangladesh is the World's TOP manufacture BUT it is the WORST place for workers

Bangladesh is the World's TOP manufacture BUT it is the WORST place for workers One of the poorest nations on earth, Bangladesh is also one of the world`s to...
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Rising costs in China boost Bangladesh economy

As rising costs force many Chinese companies to move up the value chain, some Asian countries are benefiting from the move of low-end manufacturing to cheape...
Amanda Vo's insight:

Due to China's rapidly increasing prices, many textile factories are relocating to Bangladesh. For example, in China, they are paying their workings around $600, while in Bangladesh, they pay less than $100. 

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A preferred future for Bangladesh - DhakaTribune

A preferred future for Bangladesh - DhakaTribune | Bangladesh | Scoop.it
DhakaTribune A preferred future for Bangladesh DhakaTribune To show how this can be done, Impact Economy – a global impact investment and strategy firm – has just issued my report, Creating Sustainable Apparel Value Chains, so industry stakeholders...

Via W. Robert de Jongh
Amanda Vo's insight:

The Bangladesh economy has grown at nearly 6% per year in the past decade, and human development went hand-in-hand with economic growth. Coupled with increased life expectancy, literacy, and per capita food intake, poverty dropped by nearly a third and more than 15 million Bangladeshis have graduated from poverty since 1992.


However, sustained growth in recent years has generated higher demand for electricity, transport, and telecommunication services. Insufficient planning and investment have now resulted in severe infrastructure deficits. 


For Bangladesh to aspire to a best-case scenario, it will need to increase GDP growth to 7.5 or 8% per year, via accelerated export and remittance growth with a corresponding increase in both public and private investment, and substantial efforts on many fronts.  Improving labour force participation and productivity would help to further release the potential of the economy.


Bangladesh's main economic asset is its garment industry, worth about $22 billion, which accounts for about 80% of its exports. The dire working and safety conditions in Bangladesh’s garment and textile industry were brought to global public attention in April 2013 when a garment factory collapsed in Dhaka, killing more than 1,100 workers. The apparel industry creates 4 million direct jobs, but working conditions and environmental footprints are often terrible.  Attempts to address the social and environmental issues plaguing the apparel industry in Bangladesh are being made. 


To help with these conditions and improve factory productivity, Bangladesh is working on redesigning production processes, improving infrastructure, and training can save up to 20% of chemical inputs, up to 40% of energy, and up to 50% of water. 



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IMF happy with Bangladesh economy - Bangladesh News 24 hours

IMF happy with Bangladesh economy - Bangladesh News 24 hours | Bangladesh | Scoop.it
IMF happy with Bangladesh economy
Bangladesh News 24 hours
IMF Executive Director Rakesh Mohan conveyed the financial body's happiness in a meeting with Finance Minister Abul Maal Abdul Muhith on Sunday.
Amanda Vo's insight:

Basically, the IMF is happy with how Bangladesh's economy is growing. Inflation under control, they have a $19 billion foreign exchange reserve, and they have a large current0account surplus. 

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India-Bangladesh railway talks to boost connectivity - Bangladesh News 24 hours

India-Bangladesh railway talks to boost connectivity - Bangladesh News 24 hours | Bangladesh | Scoop.it
Financial Express Bangladesh
India-Bangladesh railway talks to boost connectivity
Bangladesh News 24 hours
Published: 2014-04-19 17:18:30.0 BdST Updated: 2014-04-19 17:30:52.0 BdST.
Amanda Vo's insight:

India is going to (maybe? It wasn't very clear) on improving transportation to and from Bangladesh. Many citizens travel between the two countries, and an improvement in transportation would improve connectivity and services. 

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64% of World's Extreme Poor Live in Just 5 Countries

64% of World's Extreme Poor Live in Just 5 Countries | Bangladesh | Scoop.it
According to the World Bank, nearly two thirds of global poverty exists in India, China, Nigeria, Bangladesh and the Democratic Republic of Congo. (2/3s of world's poor live in 5 countries: India, China, Bangladesh, Nigeria, DRC.
Amanda Vo's insight:

Bangladesh contains 2% of the world's population, but has 6% of the world's poor. 

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Anarchy At The Ballot Box: Bangladesh Rising

Subscribe to VICE News here: http://bit.ly/Subscribe-to-VICE-News January 2014 saw Bangladesh fall into yet another vicious power struggle, with impending el...
Amanda Vo's insight:

In the past 2014 election, two main parties were at odds: the current governing party, the Awami League, and the opposing party, Bangladesh National Party. When things got violent between the two parties, the BNP boycotted the election, resulting in the Awami League having 232 of the 300 seats in the parliament.


The Bangladesh Awami League styles itself as the leader of the "pro-liberation" forces in Bangladesh, promoting secular and social democratic sections of the political establishment in the country. The party constitution states, and in two cases defines the reason for, four fundamental principles in guiding its philosophy and policies. They include democracy, socialism, secularism, and nationalism. 


The party has professed Bangladesh Nationalism, based on democratic rights, freedom of speech and free market. BNP promotes a center-right policy combining elements of moderate religious freedom, social conservatism, economic liberalism and nationalism.



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Bangladesh Union Organizers Allege Intimidation - Wall Street Journal

Bangladesh Union Organizers Allege Intimidation - Wall Street Journal | Bangladesh | Scoop.it
Wall Street Journal
Bangladesh Union Organizers Allege Intimidation
Wall Street Journal
Another organizer with the Bangladesh Federation for Workers Solidarity, Mohammad Selim, who was with Ms.
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Last year challenging for Bangladesh, says ICCB - Financial Express Bangladesh

Last year challenging for Bangladesh, says ICCB - Financial Express Bangladesh | Bangladesh | Scoop.it
The Daily Star Last year challenging for Bangladesh, says ICCB Financial Express Bangladesh Calling 2013 one of the most "challenging" years for the economy in recent times, the Bangladesh chapter of ICC said on Saturday the Padma bridge project...
Amanda Vo's insight:

Basically, the article is explaining why the GDP growth rate dropped compared to previous years. They say it's because of political insecurity, many factory problems, financial scams, suspensions of trades, and failed public projects were some of the main problems. Also, growth rate for the agricultural sector of the GDP has fallen  down almost a full percentage due to weather-related disruptions (such as the Cyclone in 2012). Despite all this, food supply has kept pace with population, income per capita has risen, poverty has fallen, life expectancy is up, lower mortality, and literacy rates have risen as well.

As for jobs, 'The Executive Board' said that Bangladesh has the capability of creating over 15 million jobs in the next ten years. Worker productivity is on par with Chinese workers, but Bangladeshi workers are paid 1/5 the wages of Chinese workers.  

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Bangladesh has a lot of economic potential, political stability key-Economy expert

Bangladesh's economy has managed to remain stable and on track despite the political upheaval and protests by the opposition. It is now targeting an 'extreme...
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Politics may dent economic growth - Daily Star Online

Politics may dent economic growth - Daily Star Online | Bangladesh | Scoop.it
Economic Times Politics may dent economic growth Daily Star Online However, the global lender forecasts that the Bangladesh economy might pick up modestly to 6.1 percent in fiscal 2013 -14 and 6.3 percent in fiscal 2014 -15, as external demand...

Via Bruce Fellowes
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Bangladesh stresses 'blue economy' - Bangladesh News 24 hours

Bangladesh stresses 'blue economy' - Bangladesh News 24 hours | Bangladesh | Scoop.it
Bangladesh stresses 'blue economy'
Bangladesh News 24 hours
Bangladesh advocated at a global forum the inclusion of oceans and seas in the post-2015 development agenda to leverage the growth of “blue economy” for poverty alleviation.
Amanda Vo's insight:

Part of Bangladesh's long-term economic development is developing a "Blue Economy", meaning their planning on putting more emphasis on their fisheries and such. Already, over 30 million people in Bangladesh depend on the oceanic economic activities for their livelihood. 

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BANGLADESH: Rice paddies synergise with fish farming

BANGLADESH: Rice paddies synergise with fish farming | Bangladesh | Scoop.it

DHAKA - By combining aquaculture with wet paddy farming in its coastal areas Bangladesh can meet food security and climate change issues, says a new report.  

 

The approach promises more nutritious food, without causing environmental damage, and has the potential for a 'blue-green revolution' on Bangladesh’s existing crop areas extending to about 10.14 million hectares and an additional 2.83 million hectares that remain waterlogged for about 4–6 months.

 

"The carrying capacities of these additional lands and waters, when fully utilised, can increase food production and economic growth," says Nesar Ahmed, author of the report published online last month (28 January) in Ocean & Coastal Management.

 

Ahmed, a researcher in fisheries management at the Bangladesh Agricultural University, Mymensingh, told SciDev.Net that there was a "vital link between prawn and shrimp farming in coastal Bangladesh and a 'green economy' that addresses the current environmental and economic crisis."

 

Md Enamul Hoq, senior scientist at the Bangladesh Fisheries Research Institute, agrees that the blue-green revolution "not only holds out huge economic benefits but also solves the growing climate change crisis."

 

"Aquaculture enhances soil fertility from fish waste discharge and contributes to pest control as several fish varieties feed on insects that harm crops," Hoq said.

 

Bangladesh's coastal aquaculture sector, which is dominated by export-oriented freshwater prawn and saline water shrimp farming, is already making a significant contribution to economic growth.

 

Ahmed's report shows that if prawn farming is expanded to 2.83 million hectares of seasonally inundated crop land, Bangladesh would earn an additional US$ 9.4 billion annually.

 

Similarly, if rice farming is also extended to the entire seasonally-inundated crop fields, an additional 1.58 million tonnes of rice could be produced annually.

 

According to Niamul Naser, professor of zoology at the University of Dhaka, freshwater shrimp cultivation in the Barind (north-western Bangladesh) has withstood extreme weather conditions in recent years.

 

Nazrul Islam, former director of information at the ministry of agriculture, told SciDev.Net that "combining rice and fish farming is the answer to climate change problems, particularly in the coastal areas where saline water intrusion has been phenomenal."

 

 

 

 

Amanda Vo's insight:

If Bangladesh decides to increase the amount of rice paddies and fisheries, their exports would increase by about $9 billion annually. Along with increases the GDP, this project would increase the amount of nutritious food Bangladesh has. 

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Bangladesh should compensate with land for influx: Subramanian Swamy - Times of India

Bangladesh should compensate with land for influx: Subramanian Swamy - Times of India | Bangladesh | Scoop.it
Bangladesh should compensate with land for influx: Subramanian Swamy
Times of India
GUWAHATI: BJP leader Subramanian Swamy said Bangladesh should compensate India with land for the influx of its citizens here.
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Microfinance in Bangladesh - The Economist

Microfinance in Bangladesh - The Economist | Bangladesh | Scoop.it
Microfinance in Bangladesh
The Economist
Bangladesh has well over 500 microfinance providers and the survey found that almost a third of rural households are members of more than one.
Amanda Vo's insight:

Mircofinance - making loans to the poor - has many economic benefits in Bangladesh. Increases in borrowing increase both household spending and labour supply. 

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US to provide $ 600'000 assistance to Bangladesh - The Daily Star

US to provide $ 600'000 assistance to Bangladesh - The Daily Star | Bangladesh | Scoop.it
The Daily Star US to provide $ 600'000 assistance to Bangladesh The Daily Star The Bureau of Democracy, Human Rights and Labour (DRL) of the United States will provide $ 600'000 for the implementation of two projects to strengthen civil society and...
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Lamudi to invest $1.6mln in Bangladesh - Bangladesh News 24 hours

Lamudi to invest $1.6mln in Bangladesh - Bangladesh News 24 hours | Bangladesh | Scoop.it
Lamudi to invest $1.6mln in Bangladesh Bangladesh News 24 hours Managing Director David Zwagemaker said, “We're in Bangladesh because of increasing economic empowerment of the country, to reach to the non-residential Bangladeshis and for rapid...
Amanda Vo's insight:

An online housing real estate market is investing 1.6 million US dollars into it's Bangladesh  'venture', because of the "increasing economic empowerment' in Bangladesh. They plan to reach out to the non-residential bangladeshis for rapid urbanization. 

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Sustainable development through green economy - Financial Express Bangladesh

Sustainable development through green economy - Financial Express Bangladesh | Bangladesh | Scoop.it
Sustainable development through green economy
Financial Express Bangladesh
A green economy is necessary if sustainable development is to be realised.

Via Latitudes Network
Amanda Vo's insight:

Bangladesh is looking to transfer to a "Green Economy". They have good conditions to start pursuing a low-carbon and resource efficient path to economic development, anchored in "investment and policy reform designed to enhance lives, reduce poverty and create jobs". Having/moving towards a green economy could open up opportunities to face infrastructural issues. 

To move towards a greener economy/ improving their economy, the government should: 

1) encourage investment in a greener economy

2) Provide support for small-medium enterprises

3) Putting in place social and labour markets that target social inclusion 

4) Emphasizing education to improve education and employability

5) Ensuring social and economical equality between men and women

 

 

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