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๐Ÿ‡ง๐Ÿ‡ฉ Bangladesh /Economy & Trade

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From Daily Star · () English

Summarized and contextualized by DistantNews.

At a glance

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  • Bangladesh's Finance Minister stated the national budget prioritizes the development potential of every region, aiming to make Chattogram a logistics hub.
  • The budget includes plans for an economic zone and developing Shah Amanat International Airport into a cargo and passenger hub.
  • The minister acknowledged the economy's fragility due to the Middle East conflict but expressed optimism for recovery within three to four years.

Finance Minister Amir Khosru Mahmud Chowdhury announced that Bangladesh's upcoming national budget will focus on unlocking the development potential of all regions, with a specific emphasis on transforming Chattogram into a major logistics hub.

During a visit to Chattogram, the minister outlined key initiatives to be included in the budget. These plans involve establishing an economic zone on 600 acres along the Karnaphuli River and upgrading Shah Amanat International Airport to handle both cargo and passengers. Additionally, the government intends to improve connectivity by constructing a chord line to shorten travel times on the vital Dhaka-Chattogram railway route. A Chinese Economic Zone is also planned for the region.

It is not only the seaport. Chattogram has a unique geographical position and a strategic location. Considering all these advantages, we have incorporated a number of initiatives into our plans to fully utilise the city's potential.

โ€” Amir Khosru Mahmud ChowdhuryHighlighting Chattogram's strategic importance and potential.

Chowdhury highlighted Chattogram's strategic geographical location and its potential beyond being just a seaport. He expressed confidence that these infrastructure developments would significantly strengthen the transport corridor, enabling the country's ports to manage larger cargo volumes. A major development initiative is also progressing in Matarbari.

Reflecting on the broader economic landscape, the finance minister acknowledged that the economy has been adversely affected by the conflict in the Middle East, inheriting a fragile condition. However, he projected optimism, stating that Bangladesh's economy is expected to begin recovering and return to a growth trajectory by the third or fourth year of the government's economic reform program. He emphasized that stabilizing the economy is the immediate priority before fully realizing its potential.

The economy has been adversely affected by the conflict in the Middle East. We inherited an economy that is in a very fragile condition. Our first task is to stabilise it. Once we emerge from this fragile situation, we will be able to focus on realising the country's economic potential.

โ€” Amir Khosru Mahmud ChowdhuryDiscussing the impact of the Middle East conflict on Bangladesh's economy and the path to recovery.
DistantNews Editorial

Originally published by Daily Star. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.