Economic experts are calling on Bangladesh to identify a fourth pillar of the economy as traditional revenue drivers show signs of slowing. With its economy valued at about $560 billion, the country is being urged to look beyond the ready-made garment sector and remittances to secure long-term stability and employment.
Bangladesh is missing critical opportunities in the two largest markets on its doorstep, economist Rehman Sobhan warned in a recent speech, arguing that the country’s private sector and policymakers have failed to adjust to a transformed global economic order.
Bangladesh stands to gain major investment and efficiency improvements under a series of agreements to place several Chittagong Port terminals under foreign management, but the long-term concessions have also triggered debate among port users, workers, and political groups.
Bangladesh will sign a major 30-year concession agreement next week with APM Terminals BV, a subsidiary of Denmark’s AP Moller-Maersk, to build and operate the Laldia Container Terminal at Chattogram Port under a public-private partnership, officials said Thursday.
The Criminal Investigation Department (CID), a specialized intelligence and investigation wing of the Bangladesh Police, has alleged that Beximco Group Chairman Ahmed Sohail Fasihur Rahman, Vice Chairman Salman F Rahman, and their associates laundered about $97 million abroad over five years under the guise of foreign trade.
The Anti-Corruption Commission of Bangladesh said Sunday it will file a case against 67 people, including the former chairman of S Alam Group, over alleged embezzlement and loan fraud totaling about $95 million from Islami Bank Bangladesh Limited.
