BD aims to become global manufacturing hub, export gateway

Bangladesh has set a target of becoming a global manufacturing hub and export gateway to accelerate its economic development, Prime Minister’s Adviser on Finance and Planning Prof Dr Rashed Al Mahmud Titumir said.

He made the remarks while addressing the inaugural session of the 29th Sustainable Development Conference, organised by the Sustainable Development Policy Institute (SDPI) in Islamabad, Pakistan, as the guest of honour on Monday, according to a press release issued by the Bangladesh High Commission in Islamabad on Tuesday.

Titumir said cooperation between Bangladesh and Pakistan could establish a new model of regional partnership.

He proposed establishing integrated production networks connecting South Asia, Southeast Asia, the Middle East and North Africa.

He emphasised that developing countries should attract investments that build domestic capabilities, facilitate technology transfer and create employment opportunities.

The Adviser also said Bangladesh plans to increase public spending on education from around two percent of GDP at present to five percent by 2030. He said Bangladesh was working to develop stronger production networks with South Asian countries.

Such initiatives could help restore normal production activities following prolonged disruptions in global manufacturing structures and contribute to people-centred and sustainable development across the region.

Referring to the ongoing global economic slowdown, he said the government was implementing social protection programmes, including Family Cards and Farmer Cards, to promote balanced development and support vulnerable communities.

He expressed optimism that these initiatives would help Bangladesh overcome prolonged economic challenges and poverty stemming from war, energy shortages and the misgovernance of the previous government.