Planning and Education Adviser Wahiduddin Mahmud has said that Bangladesh will have a political government by next year. 

He also said: "The interim government currently in place is a temporary arrangement, and I believe the country is likely to transition to an elected government by 2025.

The adviser was speaking at the Annual BIDS Conference on Development (ABCD) 2024, organized by the Bangladesh Institute of Development Studies (BIDS). 

Reflecting on Bangladesh's current economic situation, Mahmud highlighted the nation's struggle to break out of the "lower-middle-income trap." 

He said the need for a clear strategy to elevate the country's economic standing, noting that Bangladesh has yet to reach the level of development achieved by nations like the Philippines, and even further behind countries like Malaysia.

The adviser also drew attention to Bangladesh's economic comparison with Vietnam, citing that in the 1990s, both countries had similar per capita incomes. 

However, Mahmud pointed out that Vietnam's per capita income has since grown significantly, now standing 40 to 50 times higher than Bangladesh’s. Vietnam attracts around $20 billion in foreign direct investment annually, while Bangladesh receives only $1-2 billion. The Vietnamese economy is largely export-driven, whereas Bangladesh still depends on a few sectors.

According to Mahmud, Bangladesh must improve its various sectors, including education, technology, and international trade integration to enhance its economic growth. 

BDST: 1559 HRS, DEC 06, 2024
MN/SMS