‘Bangladesh to become world’s 9th largest market by 2030’
Bangladesh's Premier Sheikh Hasina announced on Sunday that by 2030, Bangladesh is projected to become the world's 9th largest consumer market.
She emphasized the government's commitment to surpassing several well-established markets globally, including the UK, Germany, as well as high-growth nations like Vietnam and Thailand.
Speaking at the inauguration of the 60-year celebration and Investment Expo 2023 organized by the Foreign Investors Chamber of Commerce and Industry (FICCI) at Hotel Radisson Blu in the city, the Prime Minister highlighted Bangladesh's population of around 170 million and emphasized the strengthened connectivity with neighboring countries as pivotal factors driving this anticipated market growth.
Prime Minister Hasina underscored the government's efforts to develop a skilled workforce from the country's large population for more effective utilization. She also projected that by 2025, Bangladesh will witness a significant rise in its middle-class and affluent population, estimated to reach 34 million. Moreover, she predicted the GDP per capita to be around $5,880 by 2040.
Citing Bangladesh's strategic geographical location, Prime Minister Hasina envisioned the country as a potential hub for the regional market consisting of approximately 3 billion people. In line with this vision, she outlined the government's initiatives to enhance connectivity within the region.
During the event, the Prime Minister unveiled a research publication titled 'Catalyzing Greater FDI for Vision 2041', published by FICCI, highlighting strategies to attract increased foreign direct investment (FDI) in Bangladesh.