The Asian Development Bank (ADB) study on Bangladesh Economic Corridor Development assesses the economic potential of the northeast and southwest Bangladesh regions to propose the holistic development of the country to achieve inclusive and sustainable development.

While Bangladesh’s economy has steadily grown, its economic growth is concentrated mainly in the Dhaka and Chattogram divisions. Other districts, including Khulna, Mongla, Sylhet, Rangpur, Netrokona, Sunamganj, Panchagarh, and Nilphamari, have lagged behind without adequate physical and social infrastructure to promote their growth in the future.

The ADB study outlines (i) a corridor development framework through industrial development supported by adequate infrastructure and a sound institutional structure, and (ii) broad categories of industries to be promoted, infrastructure and socioeconomic institutions to be developed, and institutional arrangements.

Bangladesh Economic Corridor (BEC) development focuses on enhancement of infrastructure, enabling industrial proliferation, creation of employment, linkages to production centers with urban and social agglomerations, and decentralization of development.

Some highlights from the keynote presentation:

• Bangladesh Economic Corridors (BEC) may generate $129 billion by 2035 and $286 billion by 2050 in business earnings with effective planning and intervention from the public and private sectors. It is also expected to generate employment of 71.8 million.
• BECs anticipated to boost Bangladesh's economy by an additional $53 billion (2035) and $178 billion (2050) compared to the Business As Usual (BAU) forecast.
• The whole corridor is estimated to generate additional employment of 2.3 million jobs by 2025 and gradually increase to 40.7 million jobs by 2050.

Read the study.

Related link

ADB: Development of north and south corridors will add $129bn to Bangladesh’s economy by 2035