Karachi, 13 September 2022:

Bangladesh Deputy High Commissioner in Karachi S. M. Mahbubul Alam had interactions and addressed prominent industrialists, entrepreneurs, academicians, social workers, bankers, philanthropists, media personalities, investors, businessmen, freelancers, and office bearers of Rotary Club of Karachi Central, Rotary Club of Karachi South and Rotary Club of Kolachi at a local five-star hotel in Karachi. Over hundred dignitaries were present at the programs.  

In his speech, the Deputy High Commissioner S. M. Mahbubul Alam briefed the leading industrialists, investors, entrepreneurs and businesspersons in Karachi about various development initiatives and sectoral achievements in Bangladesh. He said that Bangladesh has become a ‘Role Model’ of socio-economic development in the world. He highlighted on the success stories of socio-economic progress in Bangladesh and cited that Bangladesh has constructed the 6.15-kilometer-long Padma Bridge by her own finance, which is a symbol of her pride and confidence.

Deputy High Commissioner also focused the development trend of Bangladesh and apprised the prominent and the young enthusiastic entrepreneurs and businesspersons that in 1972 Bangladesh was a war-ravaged country with a ppopulation of 75 million, per capita income of US$ 94, very insignificant foreign currency reserve, poverty level of 82%, and with life expectancy of 47.14 years. But currently the scenario and statistics are different and encouraging for a 50-year old country. A country of 160 million population has now over US$45 billion foreign currency reserve with per capita income of US2,554 and Bangladesh is currently among the five fastest growing economies in the world, ranking 41st in terms of GDP. Only over the past decade, poverty rate in Bangladesh reduced from 31.5%to 20.5%.

Deputy High Commission also drawn a comparative statistic by mentioning that with current primary enrollment rate over 98 percent, Bangladesh’s current the literacy rate is around 78 percent, which was only 18 percent in 1971, 49.6 percent in 2002, and 58.6 percent in 2014. He further added that in Bangladesh currently there are around 160 universities including 53 public universities and 103 private universities but the number of universities in Bangladesh was only less than eight in 1971. The number of medical colleges in Bangladesh were also less than seven in 1971, whereas currently there are over 112 medical colleges in Bangladesh including 37 public and 70 private medical colleges producing over 10,000 doctors each year. He commented that the statistics and the success stories reflect how much Bangladesh has progressed in the five decades since her independence in 1971.

Deputy High Commission further briefed the entrepreneurs that Bangladesh has made impressive progress in women empowerment. He added that according to WEF, Bangladesh is ranked the 7^th in the world in terms of political empowerment of women. The ‘Digital Bangladesh’ initiative has stimulated transformative impacts on socio-economic development, education, disaster risk reduction, and women’s empowerment. The disaster management is also a success stories in Bangladesh, which helped drastically to reduce the loss of life and properties. He elaborated with an example that while Bhola (southern district of Bangladesh) cyclone of November 1970 killed more than 5,00,000 people, the Hurricane of April 1991, SIDR of 2007, AILA of 2009, and Amphan of 2020 killed 150,000, 3,500, 150, and 20 only respectively.

Deputy High Commissioner also highlighted that Bangladesh has been working hard for a number of priority initiatives such as One House one Farm Project, Asrayan Project (Shelter for all), Digital Bangladesh, Education Support Programme, Empowerment of Women, Electricity to every house, Community Clinic and Mental health, Social Safety Net, Enhancement of Investment, and Climate Protection. He further added that for industrialization, the government of Prime Minister Sheikh Hasina has been working hard to set up 100 specialized economic zone (SEZs) and a number of Hi-tech Parks in Bangladesh.

The Deputy High Commissioner S. M. Mahbubul Alam also shared that Bangladesh celebrated her graduation from Least Developed Country (LDC), after fulfilling all the criteria for graduation. Bangladesh has been confirmed to be graduated from the LDC in 2026. He added that Bangladesh has attained all the Millennium Development Goals (MDGs) and some of them were attained much before the deadline and she has been on a right track to achieve sustainable development goals (SDGs). Deputy High Commissioner mentioned that Bangladesh has already achieved ‘Vision 2021’ and is on a right track to achieve “Vision 2041” to become a higher middle-income country by 2031 and developed country by 2041.

The Deputy High Commissioner categorically elaborated on the potential of trade and commerce and investment in Bangladesh. He briefed the potential investors and entrepreneurs about the exclusive facilities and incentives Bangladesh offers for foreign investment in Bangladesh. Deputy High Commissioner invited the potential investors, entrepreneurs and businesspersons from Pakistan to avail the Bangladesh’s offers and enjoy opportunity to further enhance economic cooperation for mutual benefits.

During the interactions and the question-answer session, the industrialists, investors and businesspersons of Pakistan highly appreciated the socio-economic developments in Bangladesh. They also expressed their deep eagerness to know more about Bangladesh’s development model. The avid listeners during the speech candidly expressed their opinions during the interaction sessions that Bangladesh’s development model is a model of developing countries including their own country. All the participants were deeply impressed by knowing the socio-economic progress of Bangladesh much of which information was unknown to them. They commented that they were encouraged by the impressive success stories of Bangladesh’s socio-economic developments. The concerned investors, businesspersons and entrepreneurs expressed their keen interests for wider trade and commerce and investment with Bangladesh. The young entrepreneurs expressed that they came to know the unknown stories about Bangladesh, which they commented that those were extremely encouraging, educating, and motivating to achieve their own goals. They also shared candidly that their old-aged perception about Bangladesh is being changed and enlightened.

Bangladesh Deputy High Commission in Karachi S. M. Mahbubul Alam assured the industrialists, entrepreneurs, investors and businessmen from Pakistan to extend all possible cooperation for greater trade and commerce and economic relations between the two counties.