Bangladesh must take 'bold' steps for prosperity: Peter Haas foresees enormous challenge ahead

US Ambassador Peter Haas has stressed the necessity for Bangladesh to take bold steps in order to prosper as a country.

"In order to become prosperous, Bangladesh must then take bold steps to expand economic, political, and legal freedoms for its people," he said while speaking at the Prosperity and Good Governance Conference, jointly organised by the United States Agency for International Development (USAID) and The Asia Foundation on Monday (15 April).

A report titled "Freedom and Prosperity in Bangladesh" prepared by Atlantic Council's Freedom and Prosperity Center was presented at the conference, highlighting Bangladesh's economic well-being based on its democratic and governance indicators.

According to the report, Bangladesh witnessed a concerning decline in its global standing on the Freedom Index, slipping 25 notches since 2000 and earning the status of "mostly unfree." The country ranked 141st out of 164 nations in 2023,  reflecting a troubling trend in its economic, political, and legal freedoms.

In contrast, Bangladesh has fared somewhat better on the Prosperity Index, where it ranked 99th among mong 164 countries, categorising it as "mostly unprosperous." This Prosperity Index considers various factors beyond GDP per capita, including health, inequality, environmental conditions, minority rights, and education.

Addressing the recent findings, Haas noted that out of the 164 countries the Atlantic Council has looked at, not a single country ranked "mostly unfree" is also ranked "prosperous."  

He said, "To be certain, this snapshot masks the huge development successes Bangladesh has achieved since Independence.  

"But it also highlights the enormous challenge ahead in moving from being a "mostly unprosperous" least developed country today to a middle-income country in 2026 and a developed country by 2041, as forecast in the government's Vision 2041 plan."

He noted that every country faces unique challenges — like corruption and securing economic and political rights — on its path to freedom and prosperity.  

According to Haas, "This isn't a one-size-fits-all solution". The key lies not in avoiding the problems but in actively acknowledging and tackling them.

Reiterating his country's commitment to support both freedom and prosperity in Bangladesh, the ambassador said, "We will continue exploring ways to assist Bangladesh in achieving its 'Vision 2041' goals. We strongly believe that by unlocking its full potential through increased freedoms, Bangladesh can become the next Asian Tiger – a Royal Bengal Tiger, of course!"