The New Nation - Internet Edition

BSS, Dhaka

World Bank lead economist for Bangladesh Vinaya Swaroop here on Wednesday said Bangladesh needs a clear vision to become a middle-income country by the year 2016 though it has the capacity and potential to attain the goal.

Bangladesh, he said, has to have US$ 870 per capita income to become a middle-income nation. To achieve this target, it should achieve 7.5 percent annual growth, which is attainable in view of the 'impressive growth record' of the past decade.

He was speaking at a seminar in the conference room of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) chaired by its President Mir Nasir Hossain.

Senior Economist of the WB Sandeep Mahajan presented the key-note paper at the seminar, while CPD executive director Prof Mustafizur Rahman and Journalist Mahfuzullah were among the discussants.

Sandeep said Bangladesh needs transition from agriculture to deeper labour intensive manufacturing and to make agriculture at the same time more productive. Its manufacturing base should also be globally competitive, he said.

It should also become more globally integrated by becoming partner to the global supply chains and attractive to global investment maps. There should be also transition to diverse, dynamic urban centers with Dhaka remaining the forefront of urban activities.

Moreover, strengthening governance, human development, development of port, power and road infrastructure will remain the core issue for the transition to the middle income nation, he said.

Mir Nasir said Bangladesh is passing through a transition to good governance and if the World Bank provides the right kind of support to the government and to the private sector, in particular, the goal remains within the reach.

He urged the WB to provide development assistance for the country without any strings attached so that things may be adjusted with the country's specific requirements.