The PMSheikh Hasina and her advisor Salman F Rahman underscore the need for taking action plans for the country’s economic development

The World Bank Group’s ‘Doing Business 2019: Training for Reform’ report had globally ranked Bangladesh at the 176^th position. Ever since Awami League began its third term in January 2019, the government has taken numerous efforts to tackle the issues and improve the rankings. Recently, Salman F Rahman, the private sector industry and investment advisor to PM, said, “We will remove all barriers on way to the economic development. We will have to identify the barriers of investment and take action plans accordingly.”

With a primary focus on planning, it looks like the Awami League government has established an action plan for the Bangladeshi development that targets investments, resources, and infrastructure.

In terms of investments, the duo of Sheikh Hasina and Salman F Rahman has been working towards improving international relations so as to rope in foreign investments. The PM recently completed her tri-country tour of Japan, Saudi Arabia, and Finland. A visit to China in the first week of July is already on the cards. Simultaneously, Salman F Rahman, who is also one of the most prominent and successful businessmen of Bangladesh, met with officials from various parts of the globe in Dhaka including Japan, the United States in the last few months.

Highlighting the opportunities in the nation and growth with Bangladeshi companies and industries, it is expected that the value of foreign investments will rise in 2019.

Along with efforts for new investments, the government’s stability and initiative has played a crucial role in improving the electrification, networking, and transportation across Bangladesh. With a judicious allocation of funds, the national electricity grid has observed considerable improvement along with efforts in the direction of renewable energy. The flagship initiative features the successful installation of more than four million Solar Home Systems (SHS) in the rural areas of Bangladesh by Infrastructure Development Company Limited (IDCOL), a government body. This is a crucial step towards 100 percent electrification of the country as it directly caters to the electricity grid’s hurdle of rural area accessibility.

In addition, the government has successfully increased the network capacity of leading cities such as Dhaka and Chittagong. This has directly improved the business index as companies can avail a new electricity connection in less than 150 days. Earlier, it used to take at least 400 days to secure the same, which highlights the increased ability to manage more requests in a smaller time frame. Furthermore, the local infrastructure of Bangladesh industries and commercial spaces is on the rise.

Salman F Rahman’s understanding of the industry requirements and global business is further expected to boost information dissemination, promote entrepreneurship, and exposeBangladesh business individuals to explore the opportunities in various international countries.

That said, the investments-resources-infrastructure map and current achievements of the government and Sheikh Hasina appear to be aligned with the promises of their electoral manifesto 2018. Provided that the pace of these efforts is amped up, there is a high probability that Bangladesh will successfully transcend the business barriers in the country.

Phillip Goodwin

Phillip Goodwin graduated in 2007 from reputable University majoring in Economics and Accounting. In the past years, he has gathered an immense amount of experience and written for other financial sites and published independent investment research, primarily on initiative companies and new entrepreneurs. He has been working in the writing industry for the last 4 years. He has a motivational persona and trains staff on the finer points of writing, editing and getting the news out on time. Address:  1635 Rainbow Road Arcadia, CA 91006,Unites states of America Contact Number:  (+1) 626-254-4709 Email: phillip@allnewsstories.com