Sikder Group

Building Bangladesh's Future

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Named as one of the globe's "Next 11" economies by investment bank Goldman Sachs, and a member of the "Frontier Five" by JP Morgan, Bangladesh is widely regarded as one of the world's most dynamic and exciting emerging markets. Goldman Sach's "Next 11" (N-11), also including Turkey and Vietnam, could rival the Group of Seven (G7) leading global economies, according to Goldman Sachs. A 2021 report by the International Finance Corporation (IFC) and World Bank said that Bangladesh's GDP could grow to $800bn by 2030, more than doubling from around $300bn at the beginning of the decade. The report praised "first-order reforms, opportune policy support, and prudent macroeconomic management, which triggered a dynamic private sector response", noting that productivity gains in agriculture, global trade integration, and the growth of manufacturing all played a role in the country's economic success story.

Success is feeding through into S Bangladesh's infrastructure industry. which is expected to grow by an average of 8% a year between 2022 and 2027, according to Mordor Intelligence. The Infrastructure sector grew by 9.6% in 2019, on the eve of the outbreak of the covid-19 pandemic and subsequent global recession, and is rapidly regaining momentum. Infrastructure development and growing urbanisation are both contributing to this. For the fiscal year 2022, the government has allocated more than $26bn to its Annual Development Programme, with projects including nuclear and coal-fired power plants, the Padma Bridge - at 6.15km the country's longest and the expansion of Hazrat Shahjalal International Airport in Dhaka and MRT Connection across the Capital. Construction is also an increasingly important contributor to the economy, accounting for 7.5% of GDP in the last fiscal year.