April 15, 2024
How Bangladesh can achieve its vision of prosperity
Bangladesh is forging ahead with its Vision 2041, aiming to transform into a developed and prosperous country by 2041. This ambitious agenda prioritizes economic growth and social advancement, highlighting Bangladesh’s dedication to empowering its people and strengthening its democratic roots. Recent developments, particularly the January parliamentary elections, have solidified a trend towards a “dominant-party” system, with the Awami League extending its rule. While this promises stability, such systems can pose challenges to governance. Ensuring healthy competition across politics, government, and the economy is vital to mitigate these risks.
Free countries tend to be wealthier and healthier, with freedom fostering economic growth. Bangladesh, currently ranking 141st on the Freedom Index and 99th on the Prosperity Index out of 164 countries, faces hurdles in achieving both freedom and prosperity. Despite declines in freedom, Bangladesh has shown resilience in terms of prosperity. However, addressing these freedom declines is crucial for sustained progress. The report suggests targeted reforms to bolster long-term prosperity in Bangladesh, emphasizing the importance of political and economic freedoms in attracting foreign investment and fostering development.
About the authors
Nina Dannaoui is an associate director at the Atlantic Council’s Freedom and Prosperity Center.
Annie (Yu-Lin) Lee is a young global professional at the Atlantic Council’s Freedom and Prosperity Center.
Joseph Lemoine is a director at the Atlantic Council’s Freedom and Prosperity Center.
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Image: A scene from Bangladesh. Sazzad Aryan/Unsplash