ED: Creating a more diverse economy

The ready-made garments sector has remained the primary driving force of the Bangladeshi economy, but experts have long called for the need to diversify our export basket in order to ensure that our economic growth remains sustainable in the long run.

In this regard, it is encouraging to note that Prime Minister Sheikh Hasina has called for research to be conducted in order to further increase modernization and mechanization of other industries, especially agriculture, which remains one of the core components of the economy.

With Digital Bangladesh gradually becoming a reality, it is time for us to invest further in the technology necessary to drive this change forward, so that more and more industries are allowed to grow through increasing efficiency and production.

This commitment is further strengthened by the government’s plan to set up 100 special economic zones across the nation and, as the PM has said, research in this regard will be essential if we are to ensure that we take full advantage of newer and stronger avenues of economic growth.

In order for this to be a success, we must value contributions from scientists, engineers, and other experts, and utilize their knowledge to improve our capabilities in each sector, and this will require the presence of a long-term plan, not merely short-term benefits.

It is only through allowing other industries to grow that we can successfully complement the contributions of RMG and other big industries, to create an economy that is diverse and sustainable, and provides not only for the few, but for the many.