In an Unlikely Corner of Asia, Strong Promise of Growth
By BETTINA WASSENER, Global Business, New York Times
Published: April 23, 2012

Properties are popping up like daisies, and the development is moving further and further down along the beach. The speed and scale of it is unprecedented for Bangladesh.

Economists at Standard Chartered Bank believe that Bangladesh could join what have been called the “7 percent club” of economies that expand at least 7 percent annually for an extended period — allowing their economies to double every decade. Current members of the “club” include China.

“For many years, China was almost always the hands-down answer to all buyers’ needs,” the consulting firm McKinsey noted in a recent report. Now, Western wholesale buyers of garments are looking for the “next China,” and Bangladesh “is clearly the preferred next stop for the sourcing caravan.”

Bangladesh exports medicine to the USA, Australia and all EU countries

Bangladesh exports cardiovascular medicine Sotalol Hydrochloride to the USA
The Daily Star, October 25, 2016

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Fazlur Rahman Khan - Einstein of Structural Engineering

The US wouldn’t look the way it does if it weren’t for a Muslim, Fazlur Rahman Khan. The Dhaka-born Bangladeshi-American was known as the “Einstein of structural engineering”. He pioneered a new structural system of frame tubes that revolutionised the building of skyscrapers. That system consisted of, as he once described it, “three, four, or possibly more frames, braced frames, or shear walls, joined at or near their edges to form a vertical tube-like structural system capable of resisting lateral forces in any direction by cantilevering from the foundation”.

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In Bangladesh, the foreign employees, number being more than 200,000, took home nearly US$5 billion in salaries and allowances in 2015, according to data from the Bangladesh Bank. The Board of Investment issued 7,030 new work permits, 1,574 came in the first nine months of 2015 alone. The other government bodies that are authorized to issue work permits (employment visas) for foreign nationals are the Bangladesh Export Processing Zones Authority and the Department of Passport and Immigration.

Boeing, Coca-Cola, PepsiCo, Ford Motor, MetLife, MasterCard, VISA, Chevron, IBM, Cisco, Microsoft, Intel, Harvard University, Johnson & Johnson, and ExxonMobil participated at Sonargaon Hotel in Dhaka in 2016.

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