Bangladesh moving towards trillion-dollar economy: Finance minister
The national budget has been formulated with a focus on maximising the country's regional economic potential and attracting investment, he says
Bangladesh is moving towards becoming a trillion-dollar economy, driven by growing domestic and foreign investments and the government's long-term development strategy, Finance Minister Amir Khosru Mahmud Chowdhury said today (4 July).
Speaking to journalists at Shah Amanat International Airport during his visit to Chattogram, the minister said the national budget has been formulated with a focus on maximising the country's regional economic potential and attracting investment.
He said Bangladesh is witnessing increasing inflows of investment, including foreign direct investment (FDI), capital market investment and contributions from international fund managers.
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"The budget has been designed primarily for the benefit of Bangladesh, taking into account the unique potential of different regions and identifying ways to utilise those opportunities," he said.
Highlighting Chattogram's strategic importance, Amir Khosru said the government has undertaken a series of initiatives to transform the port city into a regional logistics hub.
"With its seaport and strategic geographical location, Chattogram holds immense potential. Recognizing this, the government has incorporated a number of initiatives into its development agenda," he said.
The minister said a decision has been taken to establish a 600-acre free zone in Anwara across the Karnaphuli River, while several port development projects are also planned in the region.
He said the budget includes measures to develop Chattogram into a logistics hub alongside plans to upgrade Shah Amanat International Airport into a major cargo and passenger hub.
Amir Khosru also said a Chinese economic zone will be established in Chattogram and the government plans to reduce rail travel time between Dhaka and Chattogram by about two hours through the improvement of the Laksam section of the railway.
"If these initiatives are implemented, the economic corridor centred on Chattogram will evolve into a logistics hub, allowing the ports to operate more efficiently," he said.
The minister said major development activities are also underway in the Matarbari area, adding that the budget has been prepared with particular emphasis on strengthening the economic and logistics capabilities of the Chattogram region.
Describing the initiatives as long-term projects, he said their implementation would take several years, although the government intends to begin work as early as possible.
Referring to the country's economy, Amir Khosru said implementing such a large budget remains a significant challenge.
"The current administration inherited a fragile economy from its predecessor, while the ongoing conflict in the Middle East has added further pressure. Our immediate priority is to stabilise the economy before fully utilising our development potential," he said.
He expressed optimism that the country's economic outlook would improve in the third and fourth years of the current government's tenure, paving the way for sustained growth.
"Bangladesh will move towards becoming a trillion-dollar economy by fully utilising its potential," he added.
Chattogram City Corporation Mayor Dr Shahadat Hossain, Chattogram Development Authority (CDA) Chairman Engineer Belayet Hossain and Chattogram City BNP Joint Convener MA Aziz were present.
