Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Sumaiya Siddique
ID: 22-122
Section: B
On behalf of Group no: 9
BBA 22ndBatch
Department of Finance,
Faculty of Business Studies,
University of Dhaka
Acknowledgement
All the praises to the almighty Allah for his blessing to give the opportunity to
complete the report.
It would be impossible to complete the report without the assistance and instructions
of the course instructor Hussain Ahmed Enamul Huda. We would also like to thank
all the people who have cooperated with us. We also thank all the members who
have helped us to prepare the report.
Without the efforts of these people the report would be difficult to be submitted.
Table of Content
Part I
1.1
1.2
1.3
1.3.1
1.3.2
1.4
Part II
2.1
2.2
2.3
Part III
3.1
3.2
3.3
3.4
3.5
Executive Summary
Introduction
Scope of Study
Objective of the Study
Methodology
Data Type
Data Sources
Limitation of the Study
Challenges Faced by Bangladesh
Bangladesh Country Profile
Development Context
Sustainable Development
Upcoming Challenges
Food Shelter Challenge
Environmental Challenge
Natural Gas Reservation
Unemployment Challenge
Rural Women Empowerment
Conclusion
Executive Summary
The sun of 16th December witnessed the emergence of Bangladesh . The new born
country had a lot of challenges and possibilities at that time. The challenges had to
be faced and the possibilities were to be used by this new emerged country. After 4.5
decades it has faced many challenges and many more still left, even new challenges
are also emerging.
In case of sustainable development it had faced the challenges of
Absence of inclusive growth
Poverty and Under Nutrition
Absence of Social Bonding
Absence of Institutional Capacity Building and Good Governance
Unequal Opportunities for Local and Foreign Investors
Imbalance between Local and Foreign Products
Political Instability
Absence of Demand Driven and Profession Oriented Education
Still there are more upcoming challenges that are going to be faced by Bangladesh .
Those challenges are
Food and Shelter Challenges
Environmental Challenge
Natural Gas Reservation
Unemployment Challenge
Rural Women Empowerment
So there is still a long way that Bangladesh has to go. With proper strategy and plan
more success can be gained. The thing which will be needed is contribution of all
and unity of the nation.
Part I
(Introduction)
Introduction
ORIGIN OF THE STUDY:
This report is a part of, course: Bangladesh Studies(F-105) which has been assigned
by Hussain Ahmed Enamul Huda, Assistant Professor of Department of Finance of
Faculty of Business Studies of University of Dhaka. The task has been accomplished
by Group 1.
OBJECTIVES OF THE STUDIES:
One of the main barriers in writing this report was confidentiality of data.
Large scale research was not possible due to the time constrains.
Lack of addition of value in ourselves.
In many cases, up to date information is not possible.
Inexperience of preparing report.
Part II
(Challenges Faced by Bangladesh)
Country Facts
Gained independence in 1971.
With a population of approximately 159.1 million as of 2014, Bangladesh is among
the most densely populated countries in the world. (Source include: World Bank)
The majority of the population are Muslim (around 88%), with the remaining
percentage a mixture of Christian, Buddhist and Hindu.
Administratively, Bangladesh is divided into 7 Divisions, 64 Districts, 7 City
Corporations, 308 Municipalities, 481 Upazilas, 599 Thanas and 4498 Unions.
Development Context
Since liberation, Bangladesh has made significant economic progress in tandem with
social development, particularly in areas of maternal and child mortality, education,
disaster management, and rice self sufficiency. Despite a challenging environment,
the country attained real GDP growth rate of 6.51 per cent in the 2015 Fiscal Year.
The latest poverty data is not yet available due to the five year interval between the
Household and Income Expenditure Survey, however proxy data points to a
declining poverty headcount. Overall in the last forty years, the poverty rate has
declined by 60 per cent with the countrys real per capita income increasing by more
than 130 percent.
Poverty is deep and widespread, but Bangladesh has in recent years reduced
population growth and improved health and education.
Rice production has more than tripled to 35 million metric tons, despite shrinking
farmland space, with the annual population growth brought down to 1.1 percent.
The economy has experienced significant structural transformation with the $20
billion-plus export readymade garments (RMG) sector.
The major employer is agriculture, but it is unable to meet the demand for jobs. So,
many Bangladeshis - in common with citizens from other countries in the region seek work abroad, sometimes illegally.
In recognition of the long-term development challenges of the country, the
Government has adopted its Vision 2021 and associated Perspective Plan 20102021, where setting development targets to graduate into middle-income status. And
already Bangladesh has entered into lower middle income status in 2014 (source
include: World Bank) .
The implementation of the Vision 2021 is being done through two medium
development plans (the Sixth Five-Year Plan and the Seventh Five-Year Plan).
Vision 2021 focuses on approaches that address income inequality, an intensive
manufacturing sector, investment in human capital for overseas workers, girls and
womens health, education and empowerment, urbanization, social protection
systems, environmental sustainability, and good governance
feed 160 million people. Or that it would have 18 million self-employed women in
rural areas, with a further four million women working in the ready-made garment
(RMG) sector. Bangladesh has, indeed, made considerable progress during the past
four decades.
Bangladesh is a developing economy growing with an annual growth rate of around
6 percent, The per capita income and GDP size of Bangladesh are also growing with
time. The countrys economy is changing from traditionally agro-based to industrybased entity. According to Trading Economics global macro models and analysts
expectations. In the long-term, the Bangladesh GDP Growth Rate is projected to
trend around 6.29 percent in 2020, according to that econometric models.
Yet the development challenges confronting the Bangladesh government remain
formidable. Economic development without challenges is inconceivable. The journey
to development has never been easy for any nation and it is always a long hard
battle to turn promises into achievements.
Any country has to face many development challenges of socio-economic,
environmental, territorial and many other respects. As a developing country,
Bangladesh also already has faced so many challenges in these respects, and so
many pending challenges are still there.
The country is making progress which is more or less visible. At the same time, it is
also visibly clear that the growth is not inclusive. Economists have defined economic
growth as the increase in the market value of the goods and services produced by
an economy over time. It is conventionally measured as the percentage rate of
increase in real gross domestic product, or real GDP. In our case, not all the people
are getting better off, rather it is a group or few groups of people who are getting
richer everyday and amassing wealth beyond measure. An average of the income of
the common people and that of rising wealthy community may rise from time to time,
but that does not indicate a real income growth. Parameters of growth stretch far
beyond and involve series of socio-politico-economic development challenges, some
of which are mentioned below:
While Bangladesh halved the proportion of people living on less than a dollar a day,
the UN Development Programme estimates that there are still 47 million people
living below the poverty line and another 28 million people living just above it,
indicating a whole segment of society vulnerable to falling back into extreme poverty
and a ceiling for the extreme poor's economic and social mobility.
There is a difference between accessibility, availability, and affordability of food and
being well-nourished, which is an issue facing many lesser developed countries
(LDCs). Under nutrition remains a major challenge in Bangladesh, and according to
the World Food Program , under nutrition costs more than USD $1 billion in lost
productivity every year. Approximately 40 percent of all children under five are too
short for their age, a condition also referred to as stunting, which may chronically
deprive the body of necessary building blocks to develop the brain, body and
immune system, which has a knock-on effect through the course of an individual's
life.
in a manner that allows local products to enjoy a certain level of advantage over
imported products.
At present, there are irrational import tariffs on import of finished products and import
of its raw materials. In some cases, VAT and other local taxes imposed on local
products have made them un-competitive compared to the same kind of imported
products. Therefore it is imperative that local products be given adequate protection
to meet competition from imported products.
7 POLITICAL INSTABILITY:
Economic development cannot be achieved without political stability. Absence of
political stability is a major challenge to our future economic development. Because
of this political unrest situation Bangladesh has already suffered a lot. A great
number of orders were withdrawn by foreign clients in ready-made garment (RMG)
sector due to strikes declared by rival political party. Other sectors like transport,
telecom, banking, manufacturing, tourism are also greatly affected by the absence of
political stability.
So, political platforms/parties must be transparent and accountable for every action,
from selection of candidates for elections to selecting ministers.
Part III
(Upcoming Challenges)
Environmental Issues:
Although in recent years, the government has taken some appraisable steps towards
protection of the environment, environmentally sound use of natural resources and
pollution control, Adoption of National Environment Policy and formulation of National
Conservation Strategy and the National Environment Management Action Plan are
some of the measures undertaken by the government to integrate environment with
development in a policy framework, still some issues have raised questions about
the safety of the environment.
The power production in Kaptai 1 and Kaptai 2 totaling 128 MWT through the water
flow of Kaptai Lake is a blessing for power production but is it a blessing for
environment? The answer might be in negative since the lake is not natural rather
artificial lake. The creation of this lake has endangered the total ecology. The same
question may arise with Rampal Power Bangladesh Ltd which might jeopardize the
ecology of whole Sundarban.
Natural Gas:
Natural gas is one of the most prominent natural resources of Bangladesh. It is said
that Bangladesh is floating on gas. As of 2015, the natural gas reserve of
Bangladesh is 14.16 trillion cubic feet. The country has an average daily natural gas
production of around 2,700 million cubic feet . If it is continued in next 20-50 year
there will be scarcity of gas thus the government has stopped new connections of
gas from March, 2015. The reservation of gas is going to be a challenge for
Bangladesh.
Job Opportunity :
Although it is estimated in 2013 that 5% people are unemployed , the real senerio is
totally different since in this 5% , people who work only for few hours in the entire
week is also included. If a deeper view is taken, it might be found that around 40%
people are unemployed . This unemployment creates frustration which eventually
takes the form of different crimes. Moreover providing employment to all is not
possible by government and the private sector rather self employment has to be
encouraged too . The over all situation is going to be a challenge.
Although urban women have moved a long way, the rural women still have a long
way to go. Still many of them are depended on the male members og the family.
Through proper encouragement, training they also can contribute to the income of
the family. The SME foundation, Grameen Bank, TMSS are working for rural
womens empowerment.
Conclusion
Since the emergence Bangladesh has gained many successes and many more to
attain. So there is still a long way that Bangladesh has to go. With proper strategy
and plan more success can be gained. The thing which will be needed is contribution
of all and unity of the nation.