Dhaka, Bangladesh (BBN)– Bangladesh has been demonstrating an amazing story of macroeconomic transformation which is resilient, inclusive and broad-based, former Governor of Bangladesh Bank (BB) Dr. Atiur Rahman said.
Professor Rahman highlighted the country’s latest macroeconomic development while speaking at an international research symposium organised jointly by Business School of Monash University and Faculty of Business Studies of Dhaka University at Melbourne in Australia on Thursday, according to a message, received in Dhaka.
In his key note address, Dr. Rahman mentioned the strengths of Bangladesh economy which is surging ahead in terms of leveraging strategic location, advantageous demographic dynamics, cost advantages, enhanced women participation in formal sector, large domestic market, timely embracing of necessary reforms including liberalization, digitalization, fiscal and monetary prudence, emphasis on social development leading to fast poverty reduction and increased life expectancy and creating an environment of risk-adjusted high returns for foreign and local investors.
“Government’s determination to implement large infrastructure projects is also providing positive signal to foreign direct investors,” Dr. Rahman explained.
Moreover, innovative central banking promoting ease of doing business and financial inclusion has been a complementary factor supporting such a favorable development journey of Bangladesh, according to the former governor.
He also talked about challenges like weak ties with near neighbors and other growing emerging economies, prevalence of still 25 million extreme poor and infrastructure deficit and low skill development.
Commenting on a keynote by Professor Fang Lee Cooke of Monash University on Human Resource Management Dr. Rahman argued for continuous up-gradation of skills and technical knowledge of both workforce and mid-level management in the backdrop of all-embracing globalization which is forcing stiff competition through cost-reduction and economic restructuring.
He also urged policy makers of developing countries to invest more on human resources, particularly in Research and Development.
Bangladesh High Commissioner to Australia Kazi Imtiaz Hossain, Professor Atiqul Islam, Vice Chancellor (VC), North-South University, Professor Julie Cox, Professor Gavin Jack and Professor Dean Xu of Monash University also participated in the discussion.
Professor Rahman is now visiting Australian universities as a member of a delegation of teachers of Dhaka University which also includes Dean of Faculty of Business Studies Professor Shibli Rubyat Islam, Dean of the Faculty of Social Studies Professor Fariduddin Ahmed and a number of other senior professors, chairs and junior teachers.
Dozens of scholarly papers were presented by them and a number of memorandum of understandings (MoUs) were signed between Dhaka University and many universities of Australia during this visit.