9:19 PM
Is Bangladesh - the forgotten emerging market, questions a Financial Times report recently.
The report published on the daily's special section reviewing 2015's dominant trend in the economic world.
Among the Asia Pacific countries, Devendra Joshi, the Equity Strategist for Asia Pacific region of HSBC examined the prospect of Bangladesh's economy besides advising from his point of view.
He clearly singled out Bangladesh as the one among South Asian countries to watch.
He said, 'Bangladesh has highest growth potential among regional peers.’
Primarily reason for this is-- the ‘middle-class and affluent consumers in Bangladesh’ are standing behind the economy as a new force. Its prosperity should continue as this class is ‘slated to grow in double digits annually over the next five years.'
And 'it could also be one of the beneficiaries of strains in the Chinese economy’, Mr. Joshi thinks.
A survey of 290 manufacturers in China's Pearl River delta, the country's main manufacturing and export hub, conducted by Standard Chartered earlier this year indicated over a third plan to shift production capacity to cheaper locations elsewhere in southeast Asia.
Bangladesh stays among the Chinese favored re-location options,' Mr. Joshi tells.
In a chart, he also shows how well Bangladesh performed in case of financial inclusion where Bangladesh positioned herself obviously above the Myanmar-Indonesia.
Though the HSBC strategist mentioned political instability and recent increased fear over terrorism can put a big challenge for the future of Bangladesh economy.
samakal
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