July 14, 2024, 8:37 pm

Staff Correspondent

2023-11-20 00:34:53 BdST

Bangladesh to become world’s ninth largest consumer market by 2030: PM

Prime Minister Sheikh Hasina on Sunday said Bangladesh would be the ninth largest consumer market by 2030 with the government working with the goal of overtaking many established markets in the world.

"We've been working with a goal so Bangladesh could surpass established markets like the UK and Germany, and the current high-growth countries Vietnam and Thailand at that time. We've this effort," she said.

The premier said this while inaugurating the 60 years' celebration and Investment Expo, 2023 of Foreign Investors Chamber of Commerce and Industry (FICCI) at Hotel Radisson Blu in the city.

"There are some 170 million people in our Bangladesh. Besides, we've strengthened connectivity with our neighbouring countries. We think Bangladesh would become the world's 9th largest consumer market by 2030," she said.

Noting that Bangladesh has a large population, she said the government is developing them as skilled manpower for its better utilisation.

The PM said the number of growing middle class and rich people will be 34 million by 2025 in Bangladesh and the estimated GDP per capita will be 5,880 US$ by 2040.

"Due to its strategic geographical location, Bangladesh can be the hub of the regional market of 3.0 billion people," she said adding that her government has taken steps to strengthen the connectivity with this region.

The premier unveiled a research book titled 'Catalyzing Greater FDI for Vision 2041', which was published by FICCI.

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