Economy
Benefits from Investment in Bangladesh
On the Investment Summit event which is held in Japan to showcase the economic potential of Bangladesh and strengthen the economic ties between the both countries, as they mark the 50th anniversary of their relationship.
Bangladesh urged Japan to make investments for that they will be benefited from in the future soon.
The Bangladesh Securities & Exchange Commission chairman Professor Shibli Rubayat-Ul-Islam explains from a graph presentation about the benefits from investments in Bangladesh.
Faster Economic Growth
Shock Absorbing Capability against Global Volatility
Favorable Monetary & Fiscal Policy and Investment Friendly Government
No Pre-Approval to repatriate investment with profit
A resourceful Blue Economy, Green for Investment
From another chart BSEC Chairman shows Bangladesh’s consumer market will be bigger than the UK in 2030 according to HSBC Global Research, which defines. Bangladesh is expected to see the fastest growth in its consumer market – that is, the population earning more than $20 per day in constant PPP terms – in the current decade.
Also added, Bangladesh is expected to overtake the UK and Germany and thus become the World’s ninth largest consumer market globally by 2030.
Women Empowerment in Bangladesh
In Bangladesh female literacy rate is 71.18% according to UNESCO, reserve quota has been created in judiciary, administrative and govt. Jobs, women entreprenuers in the finacial sector grew from 21,400 to 56,732 in six month from March to September in 2021. Government is arranging many training programs to empower women.
Top Japanese Investments in Bangladesh
JTI – acquired local conglomerate Akij Group’s tobacco business for approximately USD 1.5 billion in 2018 making it the single largest FDI in the Bangladesh private sector till date.
Honda – invented more than USD 27 million on buildings, equipment, facilities and a land area of 25 acres setting up a motor cycle manufacturing plant since 2018.
In June 2020, Japan East West Medical College Hospital was inaugurated, which is a 300-bed joint venture project between Ship Healthcare Holdings of Japan and Aichi Medical Group of Bangladesh.
Bangladesh: A perfect destination for Japanese firms
The latest survey of JETRO says that Bangladesh is the top choice for Japanese companies seeking to expand business in Asia.
Yuji Ando, Country Representative of the Japan External Trade Organization, expects the number of Japanese firms to double within the next 5 years.
The export ratio of Japanese companies operating Bangladesh is on top among Asia and Oceania countries as the ratio of exports to total sales by Japanese companies currently stands at 65.4%.
Number of Japanese companies in Bangladesh tripled over the last 10 years to hit 338 in 2022.
Garment export to Japan was US $ 1.1 bllion in 2021-2022 & expected to rise 10 fold to reach US $ 10 billion by 2030
At the same time BD’s imports from Japan will increase 5 fold to reach US $10 billion and as such bilateral trade will cross US $20 billion by 2030
Bangladesh Prime Minister Sheikh Hasina is expected to embark on a visit to Switzerland in June to attend the “World of Work Summit: Social Justice for All” in Geneva on June 14-15. The summit serves as a significant platform for global leaders to address the pressing need for enhanced, coordinated, and coherent efforts in promoting social justice.
During the summit, discussions will revolve around the proposal to establish a Global Coalition for Social Justice, which received a positive response from the International Labour Office’s Governing Body at its 347th Session. Should the plans be finalized, Prime Minister Sheikh Hasina will undertake her visit to Geneva from June 13 to 16, as confirmed by a diplomatic source.
A distinguished lineup of attendees, including French President François Hollande, Panamanian President Juan Carlos Varela, Nobel Peace Prize laureate Kailash Satyarthi, and representatives from employers’ and workers’ organizations, will address the conference. Over the course of two days, the summit aims to emphasize the crucial role of social justice in fostering a more sustainable and equitable world. Additionally, strategies for enhanced collaboration and cohesive action to advance social justice and ensure policy coherence will be explored.
The summit will provide participants with a platform to share their vision and priorities concerning social justice, as well as showcase the actions they have taken and commit to taking to promote social justice. Furthermore, the outcomes of the summit are expected to inform discussions in other multilateral forums regarding the significance and strategies for achieving greater social justice. These forums include the Sustainable Development Goals Summit, the G20 Summit, and the summits of the BRICS countries, all scheduled to take place in 2023.
Prominent figures such as heads of state and government, the United Nations Secretary-General, the Director-General of the International Labour Organization (ILO), and high-level representatives from employers’ and workers’ organizations will deliver addresses during the summit. Additionally, four panel discussions will bring together governmental representatives, employers’ and workers’ organizations, UN entities, and other international organizations to identify and amplify actions aimed at promoting social justice across the multilateral system. The objective is to commit to a joint, coherent, and coordinated engagement on this crucial issue.
Finance Minister AHM Mustafa Kamal is preparing to present the largest-ever national budget of Tk7.61 lakh crore for the fiscal year 2023-24. This will be the fifth consecutive budget presented by the finance minister and the final one for the current Awami League government.
The budget aims to drive the country’s economic growth in line with Bangladesh’s graduation from the Least Developed Country (LDC) status and fulfill the conditions set by the International Monetary Fund (IMF) for a $4.7 billion loan.
While the government has attempted to strike a balance between revenue collection, public expenditure, and austerity measures, experts and budget officials predict an increase in the government’s reliance on foreign loans due to a revenue shortfall. The finance ministry projects a revenue collection target of Tk5 lakh crore, with a deficit of Tk2.61 lakh crore for FY24. Of this, Tk1.02 lakh crore will be borrowed from external sources, and Tk1.55 crore will be sourced domestically.
The finance minister expects to obtain Tk1.32 lakh crore from the banking system, Tk18,000 crore from savings certificates, and Tk23,000 crore from non-bank sources. The government’s operating expenditure is anticipated to be set at Tk4.75 lakh crore, with a total development cost of Tk2.77 lakh crore.
Economists and analysts have cautioned that the next fiscal year’s budget may face exceptional challenges due to the ongoing Russia-Ukraine conflict and its adverse impact on the global economy, which also affects the domestic economy.
The finance minister has allocated Tk2.77 lakh crore for development spending in the upcoming fiscal year. Domestic interest payments will amount to Tk82,000 crore, while interest on foreign loans will reach Tk12,376 crore. Capital expenditure is expected to be Tk39,000 crore, with Tk502 crore allocated for the food sector and Tk8,402 crore designated for loans and advances.
For the financing of the annual development program (ADP), the 2023-24 budget has allocated Tk2.63 lakh crore, along with Tk7,986 crore for non-ADP special projects, Tk2,828 crore for non-ADP food-for-works recipes and transfers, and Tk3,768 crore for schemes not included in the ADP but financed from own source revenue.
In terms of revenue generation, the government aims to generate Tk5 lakh crore, with Tk4.5 lakh crore coming from tax revenue and Tk50,000 crore from non-tax revenue. The National Board of Revenue (NBR) has been tasked with collecting Tk4.3 lakh crore, while non-NBR taxes are targeted at Tk20,000 crore. The government estimates that Tk3,900 crore will be received as foreign grants.
Parrots, with their vibrant plumage and charismatic personalities, have captivated humans for centuries. These intelligent and social birds play a crucial role in the ecosystems they inhabit. To recognize and raise awareness about the conservation of these fascinating creatures, Global Parrot Day is celebrated worldwide on 31st May. This day serves as a reminder of the importance of preserving parrot populations and their habitats.
Introduction to Global Parrot Day
Global Parrot Day is an annual event celebrated on 31st May. It aims to highlight the diversity and conservation status of parrots, as well as the need to protect their habitats. This day encourages individuals, organizations, and communities to come together and take action for the well-being of these magnificent birds.
The Importance of Parrots in the Ecosystem
Parrots fulfill essential ecological roles, making them keystone species in many habitats. Their contributions include:
Parrots as Seed Dispersers: Parrots have a unique ability to consume various fruits and seeds, and their strong beaks enable them to break through tough exteriors. After digesting the fruit, parrots excrete the undigested seeds in different locations, aiding in seed dispersal and promoting the growth of diverse plant species.
Parrots as Pollinators: Some parrot species, such as the Sun Conure and the Eclectus Parrot, play a vital role in pollination. As parrots feed on nectar-rich flowers, pollen attaches to their feathers, facilitating cross-pollination between plants.
Parrots as Indicators of Ecosystem Health: Parrots are excellent indicators of the overall health of their ecosystems. Their decline or absence can signify environmental imbalances, such as habitat degradation, pollution, or the presence of invasive species.
Threats to Parrot Populations
Despite their ecological significance, parrot populations face numerous threats that jeopardize their survival:
Habitat Loss and Deforestation: Deforestation, primarily driven by human activities such as logging and agriculture, has resulted in the destruction of vast tracts of parrot habitats. The loss of nesting sites and food sources poses a severe threat to these birds.
Illegal Wildlife Trade: Parrots are highly sought after in the illegal wildlife trade due to their vibrant feathers and ability to mimic human speech. Capture and transportation for the pet trade cause immense stress and mortality among parrots, further impacting their populations.
Climate Change: Rising temperatures, altered precipitation patterns, and habitat disruption due to climate change pose significant challenges for parrots. These changes affect food availability, alter migration patterns, and contribute to the spread of diseases.
Conservation Efforts for Parrots
To safeguard parrot populations and their habitats, several conservation initiatives are underway:
Protected Areas and Sanctuaries: Establishing protected areas and sanctuaries helps conserve critical habitats for parrots. These designated areas provide a safe haven for parrot populations, allowing them to breed, forage, and fulfill their ecological roles.
Breeding and Release Programs: Many conservation organizations run breeding and release programs to bolster parrot populations. These initiatives involve captive breeding, where parrots are bred in controlled environments and then reintroduced into the wild to boost numbers and genetic diversity.
Community Engagement and Education: Engaging local communities and raising awareness about the importance of parrots and their habitats is crucial. Conservation organizations work closely with communities to develop sustainable practices and foster appreciation for parrots, ensuring long-term conservation efforts.
Celebrating Global Parrot Day
Global Parrot Day provides an opportunity to actively participate in the conservation of these magnificent birds:
Awareness Campaigns and Events: Numerous events and awareness campaigns are organized on Global Parrot Day. These initiatives aim to educate the public about parrot conservation, promote responsible pet ownership, and raise funds for conservation projects.
Volunteering and Donating: Individuals can contribute their time and skills by volunteering at parrot rescue centers, sanctuaries, or participating in habitat restoration projects. Additionally, donating to reputable parrot conservation organizations helps fund vital research and conservation efforts.
Supporting Parrot Conservation Organizations: By supporting parrot conservation organizations, individuals can aid in the protection of parrot habitats, rescue injured birds, and contribute to community engagement initiatives. Every contribution plays a crucial role in safeguarding these remarkable creatures.
Read More: Global Meditation Day Today
Global Parrot Day serves as a reminder of the importance of preserving parrot populations and their habitats. Parrots are not only beautiful and intelligent creatures but also play significant roles in maintaining the balance of ecosystems. By recognizing the threats they face and actively participating in their conservation, we can ensure a brighter future for parrots and the ecosystems they inhabit.
