As the country gears up for general elections in January 2024, the country’s economic resilience and growth under Prime Minister Sheikh Hasina have dispelled such notions. Indeed, in the recent past, Bangladesh has emerged as a compelling story of economic transformation and social development. [...] According to the World Bank, Bangladesh achieved lower middle-income status in 2015 and will graduate from the UN’s Least Developed Countries (LDC) list in 2026.5 Bangladesh’s economic ascent has had a tangible impact on the lives of its people. [...] In 2022, the per capita income surged to USD 2,730, significantly improving from the paltry USD 311.09 reported in 1980.6 Labor productivity has also witnessed an exceptional increase, with a 56 percent rise in 12 years, which reflects a more efficient workforce and increased economic output.7 Social Indicators: Significant Progress The success story of Bangladesh extends beyond economic [...] from USD 1.4 billion to over USD 6.5 billion.11 The government’s investment in education is essential for building a skilled workforce and driving economic growth. [...] It not only expands trade opportunities but also strengthens diplomatic relations, contributing to regional stability and economic growth.5 5 Under the current Overseas Development Assistance (ODA) from Japan, Tokyo is spending USD 2.5 billion and is collaborating with Bangladesh on a host of significant infrastructure projects such as the Jamuna railway bridge construction; Hazrat Shahja [...] The transformation of Bangladesh’s economy is a significant structural shift that paves the way for sustained growth and economic diversification. [...] The success story of Bangladesh is not merely an economic one but also a tale of remarkable social and political progress. The nation’s future hinges on its ability to uphold these values, transform its economy, and further solidify its standing on the global stage. [...] The Institute is dedicated to expanding understanding of international affairs, particularly the interrelationship between the issue areas of conflict, security and development. [...] 14 “Defying the odds: Bangladesh’s journey of transformation and resilience,” The World Bank, March 1, 2023, . [...] 15 Charlie Campbell, “Sheikh Hasina and the Future of Democracy in Bangladesh,” Time, November 2, 2023, available at .
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