Govt eyes Tk 32 trillion investment for 5yrs

The government is going to set a target of Tk. 31.9 trillion under the Seventh Five Year Plan (SFYP) from 2015 to 2020. This ambitious plan would enable Bangladesh to be bracketed as a middle-income country by 2021.
To fulfil the investment target, the Economic Relation Division (ERD) is going to share the draft plan with the local representatives of development partners—including the World Bank, Asian Development Bank, IMF, JICA and other bilateral lenders—today at the NEC conference room at Sher-e-Banglanagar in Dhaka.
Meanwhile, the Planning Commission’s General Economic Division has prepared a summary of the proposed plan for the development partners.
According to the plan, 91 per cent of the total investment will be financed from domestic resources and 9 per cent from external resources during the next five years.
Of the total investment under the plan, the Planning Commission has set a target to mobilise Tk. 3,052 billion from the development partners, while Tk. 28,851 billion will be mobilised from domestic resources.
During several consultations with experts from different fields, planning minister AHM Mustafa Kamal has focused on creation of skilled manpower under SFYP (2016-2020) through quality education.
“We’ll have to enhance productivity to increase growth. In order to raise productivity, every citizen of the country would have to be productive,” the minister said.
Referring to a study, Kamal said that Bangladesh gets USD 14.2 billion as remittance from some 86 lakh expatriate Bangladeshis, whereas some 32 lakh Filipino expatriates send around USD 31 billion as remittance to their country.
According to the draft plan, higher GDP growth and better income distribution will ensure a faster pace of poverty reduction. Focus will be on improving growth drivers as well as on policies, instructions and programmes to lower income inequality and empower citizens. Like the earlier plan, the government is also going to set 8 per cent GDP growth at the end of the plan in 2020, attaining a real GDP growth rate of 7.4 per cent per year over the plan period. The government also plans to reduce poverty headcount by about 7 per cent—from 23.6 to 16.6 per cent.
Under the plan, it would try to increase the contribution of the manufacturing sector to 21.5 per cent of GDP by FY20 from 17.8 per cent, substantial improvement of export to USD 55.1 billion in FY2020 from USD 30 billion of 2015, as well as raise the trade gap ratio to 50 per cent by FY20. The government also plans to increase the FDI substantially to USD 9.6 billion during this period.
The commission wants to ensure access to improved water for all urban dwellers, expand drainage cover to 80 per cent, achieve 100 per cent enrolment for primary and secondary education, reduce under-five mortality rate to 37 per cent from 41 per cent per live birth.

Govt eyes Tk 32 trillion investment for 5yrs

The government is going to set a target of Tk. 31.9 trillion under the Seventh Five Year Plan (SFYP) from 2015 to 2020. This ambitious plan would enable Bangladesh to be bracketed as a middle-income country by 2021. To fulfil the investment target, the Economic Relation Division (ERD) is going to share the draft plan with the local representatives of development partnersincluding the World Bank, Asian Development Bank, IMF, JICA and other bilateral lenderstoday at the NEC conference room at Sher-e-Banglanagar in Dhaka. Meanwhile, the Planning Commissions General Economic Division has prepared a summary of the proposed plan for the development partners. According to the plan, 91 per cent of the total investment will be financed from domestic resources and 9 per cent from external resources during the next five years. Of the total investment under the plan, the Planning Commission has set a target to mobilise Tk. 3,052 billion from the development partners, while Tk. 28,851 billion will be mobilised from domestic resources. During several consultations with experts from different fields, planning minister AHM Mustafa Kamal has focused on creation of skilled manpower under SFYP (2016-2020) through quality education. Well have to enhance productivity to increase growth. In order to raise productivity, every citizen of the country would have to be productive, the minister said. Referring to a study, Kamal said that Bangladesh gets USD 14.2 billion as remittance from some 86 lakh expatriate Bangladeshis, whereas some 32 lakh Filipino expatriates send around USD 31 billion as remittance to their country. According to the draft plan, higher GDP growth and better income distribution will ensure a faster pace of poverty reduction. Focus will be on improving growth drivers as well as on policies, instructions and programmes to lower income inequality and empower citizens. Like the earlier plan, the government is also going to set 8 per cent GDP growth at the end of the plan in 2020, attaining a real GDP growth rate of 7.4 per cent per year over the plan period. The government also plans to reduce poverty headcount by about 7 per centfrom 23.6 to 16.6 per cent. Under the plan, it would try to increase the contribution of the manufacturing sector to 21.5 per cent of GDP by FY20 from 17.8 per cent, substantial improvement of export to USD 55.1 billion in FY2020 from USD 30 billion of 2015, as well as raise the trade gap ratio to 50 per cent by FY20. The government also plans to increase the FDI substantially to USD 9.6 billion during this period. The commission wants to ensure access to improved water for all urban dwellers, expand drainage cover to 80 per cent, achieve 100 per cent enrolment for primary and secondary education, reduce under-five mortality rate to 37 per cent from 41 per cent per live birth.