$1tn economy in sight by 2034
Bangladesh is looking to leverage investment, industrial diversification, technological advancement and its global diaspora network to build a trillion-dollar economy by 2034, Finance and Planning Adviser Rashed Al Mahmud Titumir has said.
He said the country was embarking on a transformation journey aimed at moving beyond the fragile economic conditions inherited from the deposed regime and building a more resilient and competitive economy.
Speaking as chief guest at the biennial convention of the American Association of Bangladeshi Engineers and Architects (AABEA) in Detroit, Michigan, on Saturday, Titumir said the government was pursuing a new development model centred on recovery, restoration and reconstruction.
The model would prioritise investment, production and employment while increasing public investment in education and healthcare, he said.
Titumir said Bangladesh also aimed to establish itself as a competitive manufacturing hub through industrial diversification, higher productivity and technological advancement.
He urged Bangladeshi-American engineers, scientists and technology entrepreneurs to help connect Bangladesh with the US innovation ecosystem, including leading universities, research laboratories, technology companies and investors.
The adviser called on diaspora professionals to mentor young Bangladeshi engineers, facilitate technology transfer, establish research partnerships and help Bangladeshi start-ups gain access to global capital and markets.
“Your knowledge, credibility, experience and professional networks are themselves a form of investment in Bangladesh,” he said.
Titumir proposed establishing a sustained platform to connect the expertise of the Bangladeshi diaspora with universities, industries and entrepreneurs in Bangladesh.
“Let us transform individual Bangladeshi success in America into collective opportunity for Bangladesh,” he said.
The initiative, he suggested, could help channel the skills, experience and professional networks of the diaspora towards research, innovation, entrepreneurship and industrial development in Bangladesh.
The convention was presided over by AABEA President Engineer Monir Zaman.
US Congresswoman Debbie Dingell, Michigan Supreme Court Justice Megan Cavanagh and Bangladeshi-American professionals from across the United States attended the convention.
