These comments were made at a recent book launch organized by the Center for Policy Dialogue (CPD) even as they lamented the dysfunction of institutions, especially in financial management. main.
Professor Rehman Sobhan, co-editor of the book, highlights the absence of functional institutions important for development and expresses concern about the growing deterioration in the banking system, while also identifying the The bank default is a serious structural crisis while Dr. Hossain Zillur Rahman highlighted Bangladesh's entanglement in the economic trap of cheap labor, urging a focus on quality education to cultivate Cultivate qualified human resources and fight corruption.
Bangladesh remains stuck in a low-wage economic trap despite marked economic growth, largely driven by workers, including farmers, RMG workers and migrants, economists say. . They proposed a shift to high-tech-based manufacturing and exports from labor-intensive industries. These observations were made at a recent event in Dhaka.
Prominent economists, including Rizwanul Islam and Prof. Dr. MM Akash, have emphasized the important role of workers in economic growth, while also noting falling real wages and growing inequality.
Dr. Zahid Hussain raises the question of shared prosperity in the context of a governance crisis, especially in the banking sector, highlighting the emergence of influential elites and their impact on governance. governance and politics.
Looking ahead, Professor Selim Raihan warned of challenges stemming from institutional weakness and emphasized the need to transition to high-tech-based manufacturing to avoid falling into the debt trap. Dr. Mustafizur Rahman echoed this sentiment, emphasizing the urgency of addressing generational challenges and transitioning from labor-intensive to technology-based industries.
He highlighted the stagnation in high-tech exports, in contrast to Vietnam's significant increase.
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