3-R route to economic recovery outlined
Prime Minister Tarique Rahman has explained his three-pronged strategy of recovery, restoration and reconstruction to rebuild Bangladesh’s economy, pledging to create jobs, expand industries, attract investment and ensure more inclusive growth.
Addressing the 81st session of the United Nations General Assembly in New York on Thursday, Tarique said his government had launched an extensive programme to repair the economy, rebuild democratic institutions and transform the country’s large working-age population into skilled human resources.
He called on Bangladesh’s development partners to support efforts to create employment and establish the country as a manufacturing hub.
“Detailed measures have been taken to create extensive employment opportunities and develop Bangladesh as a ‘manufacturing hub’,” he said.
Tarique said Bangladesh had entered a new phase of opportunity following its return to the democratic path, with the government seeking to harness its demographic dividend through skills development and economic transformation.
The government has allocated US$50 million in the current fiscal year to support young entrepreneurs, researchers and innovators in launching start-up initiatives.
Jobs, industry and women’s empowerment
Employment generation, skills development and entrepreneurship are at the centre of the economic restoration plan, Tarique said.
The government is seeking to turn the country’s working-age population into productive human resources while expanding opportunities for young people.
It is also prioritising women’s education, employment and entrepreneurship, including greater access to cash financing for women-led small and medium-sized enterprises.
Tarique said the government wanted to ensure not only electoral democracy but also the democratisation of the economy, so that the benefits of growth reached every family and citizen.
Social protection initiatives, including the Family Card, Farmers’ Card, Sports Card and e-Health Card, have been introduced to support disadvantaged people. A Universal Card is planned by integrating the various schemes.
Inclusive growth and human capital
Tarique said the government was implementing its 31-point programme, with 73 per cent of its activities directly aligned with the UN Sustainable Development Goals’ “Leave No One Behind” principle and another 27 per cent indirectly aligned.
Education, health and sports have been given particular priority. He said the country had made its highest-ever allocation for education, with plans to gradually raise education spending to 5 per cent of GDP within five years.
A new curriculum emphasising technical and practical education is being implemented to create an employment-oriented workforce. School bags, uniforms and free midday meals are being provided to primary pupils from Grade One.
Sports has also been incorporated into the education curriculum, while more than two million students took part in a nationwide football tournament in June.
Investment and LDC graduation
Tarique said Bangladesh was working to strengthen democracy, human rights, good governance, accountability and political stability while creating a safe, business- and investment-friendly environment.
He said the government wanted to build a prosperous, self-reliant and welfare-oriented democratic state where people could live safely with equal rights and dignity.
As Bangladesh prepares to graduate from the Least Developed Country category, he sought assured financing, greater market access, technology transfer and capacity building from development partners.
He also stressed regional connectivity, trade facilitation and cooperation to promote shared prosperity.
Climate resilience and technology
Describing climate change as a major threat to Bangladesh’s development, Tarique called for stronger international action on climate justice, climate finance and adaptation at COP31.
The government plans to plant 250 million trees over five years and prioritise clean and solar energy. It has also launched a programme to excavate 20,000 kilometres of canals to strengthen protection against floods and droughts.
He said the government had begun implementing the Teesta Master Plan and Padma Barrage project to improve freshwater management and conserve water.
Calling for technology transfer and affordable access to modern technologies, Tarique warned that the digital divide must not become an “AI divide”.
Global cooperation and Rohingya crisis
Tarique called for conflicts to be resolved through dialogue and diplomacy, saying wars were disrupting economies, energy security and supply chains while fuelling inflation.
He reaffirmed Bangladesh’s commitment to multilateralism, international peace and security, disarmament and nuclear non-proliferation, while supporting the Palestinian people’s right to self-determination and an independent state.
On the Rohingya crisis, he said Bangladesh had been sheltering more than 1.2 million forcibly displaced people from Myanmar for over nine years, placing severe pressure on resources, the environment and local communities.
“The only solution to this problem is the safe return of the displaced Rohingya population to their homeland, Myanmar,” he said, urging continued international assistance until repatriation.
Tarique also paid tribute to Bangladesh’s freedom fighters and those who sacrificed their lives for democracy, justice and people’s rights, including those killed and injured during the July-August 2024 mass uprising.
Recalling his parents’ addresses to the UN General Assembly, he said he felt nostalgic standing on the same international platform.
He concluded by reaffirming Bangladesh’s commitment to UN principles and to building a safe, peaceful and prosperous country.
