Bangladesh among top 20 economies by 2040: EIU
Staff Reporter :
Bangladesh is on course to becomeoneofthetop 20 economiesintheworldby 2040 driven by increasing market size, economic growth and the potential of some other sectors, according to a recent forecast by Economist Intelligence Unit (EIU).
In the report, the think tank also predicted that Bangladesh might be an attractive destination for Chinese investments in the coming days. The same was forecast for Indonesia.
According to the EIU, market expansion opportunities are more prevalent in South-east and South Asia.
A strong momentum has been anticipated in consumer electronics, information technology services, telecommunications, renewable energy and automotive products, where China has already been establishing its competitive edge.
The report, titled ‘China going global investment index 2023: The Belt and Road Initiative’s second decade’, highlighted the potential business expansion destinations for Chinese investors.
The EIU prepared a ranking of countries that are most appealing to Chinese investors as investment destinations and Bangladesh secured the 12th position here.
According to the EIU, market expansion opportunities are more prevalent in South-east and South Asia.
A strong momentum has been anticipated in consumer electronics, information technology services, telecommunications, renewable energy and automotive products, where China has already been establishing its competitive edge.
Bangladesh secured the eighth position in the list of countries offering the most investment opportunities.
India topped the ranking, followed by the United States, Indonesia, Russia, Vietnam, South Korea, the Philippines, Brazil, and Taiwan.
Bangladesh is one of the fastest-growing economies in the world, with a substantial middle-class population.
According to a report, the middle-class population is expected to exceed 50 million in the next decade.
Hence, the investors are highly interested to tap into the burgeoning market here.
Experts said it is possible to attract foreign investors to Bangladesh if an investment-friendly environment is ensured here.
