The Daily News Online Desk | Published: 12 Sep 2023, 14:03PM | Update: 12 Sep 2023, 14:03PM
The Economist Intelligence Unit (EIU) has forecast that Bangladesh will be among the top 20 global economies by 2040, based on market size, economic growth and the potential of some other sectors.
In a recent report, the think tank also predicted that Bangladesh might be an attractive destination for Chinese investments in the coming days. The same was forecast for Indonesia.
According to the EIU, market expansion opportunities are more prevalent in South-east and South Asia. A strong momentum has been anticipated in consumer electronics, information technology services, telecommunications, renewable energy and automotive products, where China has already been establishing its competitive edge.
The report, titled ‘China going global investment index 2023: The Belt and Road Initiative’s second decade’, highlighted the potential business expansion destinations for Chinese investors.
The EIU prepared a ranking of countries that are most appealing to Chinese investors as investment destinations and Bangladesh secured the 12th position here.
A similar ranking was published a decade ago in 2013, where Bangladesh was placed at the 52nd spot.
The EIU ranking includes some subdivisions. One of them identified the most attractive destinations for market expansion investments and Bangladesh impressively claimed the second spot here, with Indonesia leading the way. The following positions are occupied by Vietnam, Malaysia, Pakistan, Cambodia, Egypt, India, and Tanzania.
In terms of supply chain development investment, Bangladesh lagged behind slightly, being placed at the eighth position. Singapore clinched the top spot in the list, followed by Malaysia, Thailand, Indonesia, Vietnam, Mexico, and Egypt.
However, Bangladesh took the lead in the sub-ranking of countries where opportunities are abundant, yet risks remain low, followed by Cambodia, Colombia, Egypt, France, Germany, Indonesia, and Israel, respectively.
Bangladesh secured the eighth position in the list of countries offering the most investment opportunities. India topped the ranking, followed by the United States, Indonesia, Russia, Vietnam, South Korea, the Philippines, Brazil, and Taiwan.
Bangladesh is one of the fastest-growing economies in the world, with a substantial middle-class population. According to a report, the middle-class population is expected to exceed 50 million in the next decade. Hence, the investors are highly interested to tap into the burgeoning market here.
Experts said it is possible to attract foreign investors to Bangladesh if an investment-friendly environment is ensured here.