The National Board of Revenue (NBR) on Wednesday reduced the regulatory duty on both refined and raw sugar imports by 50 percent to stabilize the local market prices. The duty has been cut from 30 percent to 15 percent, effective immediately. NBR explained that this measure is intended to make sugar prices more bearable for consumers.  It pointed out that various global and domestic factors have contributed to the recent rise in the prices of daily essentials, including sugar. Due to the global war, political unrest, and the significant devaluation of the Bangladeshi currency, prices of several essential goods have escalated. Items such as baby food are also becoming increasingly unaffordable for the common man, NBR noted. It further said that recent student protests and the ongoing flood situation have added additional pressures, driving prices of essential items even higher. NBR accelerates efforts to clear revenue case backlog As a result of the 15 percent reduction in regulatory duty, the customs duty on raw sugar now stands at Tk 11.18 per kg, while refined sugar is taxed at Tk 14.26 per kg at the import level. The NBR expects the price of sugar to decrease by a similar amount at the consumer level.  The NBR also expressed hope that lowering the customs duty will discourage sugar smuggling through illegal channels and boost legal imports.  According to the available data, the annual consumption demand for sugar in Bangladesh is 2 to 2.2 million tonnes where Only 1.5 per cent of the country’s demand is met with locally produced sugar. Meghna Group of Industries (MGI) and City Group are the two main importers of sugar followed by S Alam Group, Abdul Monem Ltd and Deshbandhu Sugar Mills. At present, these five private sugar mills imports more than 98 percent of the country's annual demand for refined sugar, whereas the raw sugar mostly sourced from Brazil.

Chief Asia Economist and Co-Head of Global Research Asia, HSBC Frederic Neumann has said that even though Bangladesh’s GDP growth rate has been set to a revised 4.5% for FY2024-25, the country will rebound to 7.1% in the following year. This growth will be largely driven by exports and remittances, both of which are showing positive signs despite the ongoing challenges in the global economy, he said in a webinar based on latest HSBC Global Research report on Bangladesh ‘Regaining balance - Bangladesh looks to recovery’. The Hongkong and Shanghai Banking Corporation (HSBC) Limited in Bangladesh organised the economic outlook webinar titled ‘Navigating Bangladesh’s Crossroads’ highlighting the latest global and Asian market developments and sharing perspectives on Bangladesh. Bangladesh received a $425mn remittance in 5 days of Oct: BB Key speaker Neumann highlighted that the garment sector, which accounts for 83% of the country’s exports, is expected to grow by the demand from international markets. At the same time, imports, which had been strained by rising global energy prices, are now stabilising reflecting a recovery in domestic demand and easing cost pressures. He also mentioned that remittances are anticipated to grow driven by improved employment conditions in key overseas markets. This rise in remittances will not only support household consumption but play a significant role in sustaining the broader economic recovery. Neumann, however, noted that while these factors are promising, challenges remain, particularly with inflation. This will continue to affect both household spending and business costs. Structural reforms in the banking sector and efforts to control inflation will be essential for unlocking Bangladesh’s full economic potential and ensuring long-term, sustainable growth. Finance Adviser urges banks to ensure rigorous loan scrutiny and inclusive lending During the webinar, he added, “Bangladesh is already well on its way to recovery. Macroeconomic adjustments undertaken in recent months, and robust economic fundamentals, should pave the way for growth to rebound over the coming year. A rapid implementation of reforms would help to speed up the process further.” The event was also attended by Md Mahbub ur Rahman, Chief Executive Officer, HSBC Bangladesh and Gerard Haughey, Country Head of Wholesale Banking, HSBC Bangladesh. Almost 300 clients and stakeholders were also in attendance at the virtual event.  

The Newspaper Owners' Association of Bangladesh (NOAB) held a views-exchange meeting on the current and future state of the country’s economy at Pan Pacific Sonargaon Hotel in the capital on Saturday. Bangladesh Sustainability Excellence Awards 2023 recognizes 6 corporates, 3 individuals Chaired by NOAB President AK Azad, the meeting was also attended, among others, by former caretaker government adviser and former Dhaka University Economics department professor Wahiduddin Mahmud, former Bangladesh Bank governor Salehuddin Ahmed, Policy Research Institute (PRI) executive director Dr Ahsan H Mansur, Centre for Policy Dialogue (CPD) distinguished fellow Dr Mostafizur Rahman, SOAS University of London Economics department professor Dr Mushtaq Khan, Professor and Chairman of the Dhaka University Development Studies department Rashed Al Mahmud Titumir. Among the NOAB members, NOAB Founding President and Daily Star Editor Mahfuz Anam, Prothom Alo Editor Matiur Rahman, Financial Express Editor Shamsul Haque Zahid, Karatoa Editor Mozammel Haque and Bonik Barta Publisher and Editor Dewan Hanif Mahmud were present at the meeting. DMP to start transferring OCs 'soon' in line with EC's directive About 25 journalists from different media outlets were present at the time. In the meeting, the economists highlighted the current state of the country's economy and its future dynamics including inflation, reserve crisis, education system and quality, banking problems and crises, foreign debt, dollar exchange rate, restrictions on economy and trade, preferential trade in western markets etc. Cyclonic storm Michaung likely to move Northwestwards, intensify further

Since the first shots were fired in February 2022, the war in Ukraine has affected the Bangladesh economy in a number of ways, and most of these can be described as supply chain disruptions. The most direct impact was felt in the energy sector, as prices skyrocketed on the international energy markets. Global oil prices soared to more than $120 a barrel amid concerns about a shortfall in global supplies from Russia, up from $70 a barrel before the war. Although prices fell back again to pre-war levels by the end of 2022, they have been rising again over the summer, and are headed back towards the $100 mark. Bangladesh, Indonesia keen to work together in energy, agriculture, health sectors in line with signed bilateral agreementsBrent crude, the oil price benchmark, rose to a 10-month high last week of almost $94 a barrel, up from $72 a barrel at its lowest point in June – heading for its biggest quarterly increase since Russia’s invasion of Ukraine.The price of LNG had arguably the most direct impact on the Bangladesh economy. The war drove gas prices to historic highs, with spot prices in August 2022 up more than 640 percent over the price a year earlier. Thereafter though, prices fell and returned to their 2019-2021 average. By June 2023, they sat 92 percent lower than the 2022 peak, even though the war persisted, and Bangladesh, having been forced to abandon purchases on the spot market, was able to resume LNG supplies on the spot market.During the time that it was forced to go off the spot market for LNG, Bangladesh’s dependence on coal increased. But this traditionally cheap fuel has also seen prices rise through the war. The Coal from Russia/Ukraine region in world market stopped due to the ongoing war resulting in world wide shortages and disruption in various Industries including Steel which uses large amount of Coal. Russia/Ukraine which were major exporters of Steel and alloying elements required for making higher grade steel used in various applications couldn’t supply due to war (Force Majeure) which resulted in disruptions in Steel availability. Nurul Alam joins Energy Division as new secretary Australian coal, that the country has been purchasing for its power plant in Godhra, India, soared to its highest closing price since the war in August of 2022, exceeding $400. Imports of coal from Russia were completely halted under sanctions that came into effect on August 10 in 2022. Now however, they are back to pre-war levels. Coal supplies for its power plants in Rampal and Godhra have both witnessed disruptions due to unpaid bills.As a result of all this, the Bangladesh government had to raise both the gas and power prices as a major part of power generation depends on imported fuels.Besides, the war had a negative impact on all kinds of imports due to shipping restrictions and increased insecurity on navigation routes.The war also continues to disrupt the global trade of key foods such as wheat and vegetable oils, along with fertilisers, and the impact is falling heavily on countries such as Bangladesh.Dependent on imports of those items to feed its large population, many poor and vulnerable to shocks, the country faces the prospect of rising food insecurity. Efforts on to invite int’l bidding within a month for gas exploration: Energy SecretaryAccording to an International Food Price Research Institute study, the proportion of rural households facing moderate or severe food insecurity rose from 15% in early 2020 to 45% in Jan. 2021, then returned to pre-pandemic levels by the end of 2021.Now that 2021 recovery is in danger: Bangladesh saw a record rise in prices of staples in March 2022, along with volatility in the fertiliser market. In this post we discuss Bangladesh’s trade exposure to several commodities facing export restrictions, the fiscal impact of rising imports, and potential measures for easing food security pressures.Eminent economist and CPD executive director Dr Fahmida Khatun pointed out that the Russian invasion of Ukraine took place at a time when the world was just starting to recover from the fallout caused by more than two years of the Covid-19 pandemic. While the world came out of COVID pandemic, China took much longer and the Chinese supplies were absent for various critical items.But the recovery is facing inflationary pressure due to supply shortages in the face of higher demands as countries are beginning to expand economic activities.While the impact of the pandemic was a once-in-a-century shock for the world economy, the ongoing war has come as a new shock. Supply disruptions and financial sanctions pose serious economic challenges. With no signs of reconciliation between Russia and Ukraine, the global economic implications will remain severe for some time to come, according to Dr Fahmida.She said major countries including the US, the UK, Japan and the European Union (EU) have all suspended economic ties with Russia. Sanctions have been enforced on the Russian financial institutions with the objective to disrupt transactions with the country.As Russia is the third largest oil-producing country in the world, the global economy is suffering as a result of high oil prices. Though developed countries are sourcing their requirements from other oil-producing countries, small and poor countries are finding it difficult with their limited financial abilities to meet their energy requirement. In addition, high oil prices have a knock-on effect on other prices, leading to further inflationary pressure.The ramifications of these challenges are seen through higher commodity and oil prices. Food prices have skyrocketed. The CPD executive director said the global sanctions on Russia implies that Bangladesh's trade with Russia is going to be affected.Russia is a market for Bangladesh's ready-made garment (RMG) products. In FY2021, Bangladesh's export to Russia was to the tune of $550 million, and import from Russia was $480 million. Bangladesh imports wheat and maize from Russia. Sanctions mean Bangladesh will have to import these items from somewhere else.Rampal 1320 MW Power Plant has been impacted due to Coal shortages. Russia is also implementing several projects in Bangladesh. The Rooppur Nuclear Power Plant (RNPP) is a large project being implemented by Russia that involves USD 12.65 billion and is scheduled to be completed by 2025.The ongoing war and economic sanctions against Russia could delay this expensive project, which means cost escalation in Bangladesh. This implies higher loans and burden on the country, she observed.

Speakers at a session of exchange of views in Lisbon have stressed the need of recognising the contribution of the expatriates to the economy of Bangladesh. They also demanded removal of harassment and constraints that the expatriates face at the airports of Bangladesh and asked for more funding for expatriate’s dead body repatriation and financial assistance for needy expatriates and their families on their return to Bangladesh. Remarking that expatriates contribute to building of foreign currency reserve in Bangladesh, the speakers called on the Bangladesh government to keep an eye on the reserve lest it be leaked or wasted. As regards increasing remittance to Bangladesh, some of them urged the expatriate Bangladeshi businessmen to recruit more Bangladeshi workers in their businesses. Bangladesh Embassy in Lisbon arranged the event with the members of the Bangladeshi expatriate community in Lisbon on December 7 on ways to increase remittance from Portugal to Bangladesh. The session was held at the auditorium of the Chancery building of the Embassy. Leaders, businessmen, entrepreneurs, journalists and other members of the Bangladeshi community from Lisbon, Porto and other parts of Portugal attended the session. At the outset of the session, Bangladeshi expatriates were invited to express their ideas and recommendations on how to enhance the flow of remittance to Bangladesh through legal channels. Several community leaders, businessmen and general expatriates spoke. Read more: “Bangladesh can be the right place for investment from Brunei” The speakers expressed the feeling of satisfaction that expatriates had been playing a role in the socio-economic development of Bangladesh through their remittance. The speakers also acknowledged the importance of sending their remittance through banking channels. They also felt the need of formation of a Bangladeshi business association in Portugal. If formed, the association could play a critical role in pursuing their interests with the Portuguese authorities, they remarked. Some speakers also indicated that a ceiling set by the Portuguese government on the amount of remittance in a given period of time is hindrance to remittance of bigger amount through banking channel. They requested the Embassy to take up this matter with the Portuguese government to relax this ceiling.   Ambassador Tarik Ahsan commended the Bangladeshi expatriates for sending to their dear ones in Bangladesh their hard-earned money that also helps development of the nation. He acknowledged their contribution to the economy of Bangladesh, particularly in maintaining external balance of payment. Ambassador Tarik mentioned that Bangladesh was currently the seventh largest remittance receiving country in the world. He said although Bangladesh received 24.78 billion USD in the financial year 2020-21, it was reduced to 21.03 billion USD in the last financial year 2021-22. He indicated that, in the current financial year, remittance flow declined in September and October, but picked up again in November. The Ambassador said if  remittance-to-GDP ratio of Bangladesh, which is now 6%, could be at par with that of some of her neighbours, which is at least 9 %, Bangladesh annual remittance could reach 40 billion USD. Read more: Ensuring wellbeing of Bangladeshi expats is govt duty: PM He called upon the Bangladesh’s expatriate community to come forward to make Bangladesh a top remittance receiving country in the world and make Portugal a significant remittance sending country to Bangladesh. Ambassador regretted that sending remittance through non-banking channels helps money laundering from Bangladesh to foreign countries. He also remarked that transaction through illegal channels may give a better rate, but ultimately it does not benefit the recipients much. He argued that such illegal transactions lead to shortage of hard currency and consequent devaluation of Bangladeshi Taka, which leads to increase of cost of living in the country. He said that Bangladesh government has taken many steps to encourage remittance through banking channels. If necessary, more measures would be taken. However, he also stressed the need of consciousness of the expatriates to accept a little sacrifice in terms of lower rates of exchange for the greater interest of the nation.  The Ambassador said that aftermath of covid19 pandemic, Ukraine War and sanctions have caused a crisis of price rise of food, energy and raw materials worldwide and Bangladesh is not aloof from this global crisis. He expressed the resolve that resilient people of Bangladesh including the expatriates, under the far-sighted leadership of Prime Minister Sheikh Hasina, will overcome the challenges and make Bangladesh come out stronger.  Ambassador declared that the Embassy of Bangladesh in Lisbon would like to honour the remittance senders of Portugal through a programme of conferring accolades on some remittance senders selected on the basis of some criteria.

Amidst the global financial crisis, Bangladesh is performing well in three key economic important indicators- exports, remittance, and private credit growth. The latest data of different economic indicators show that despite the global crisis, Bangladesh is turning around in export of garment items. In the first five months of this calendar year, Bangladesh’s garment exports to the European Union have increased by 45 percent. In addition, from January to June of this year, the export of clothing products to the US market has increased by 60.30 percent. Not only Europe-America, but overall exports from Bangladesh increased by 14.72 percent in the first month of the current fiscal year 2022-23, in July, compared to the same period of the previous fiscal year. And in June, the export growth of Bangladesh was 37.19 percent. Also read: Economy has unease, but no crisis: Shamsul Alam Not only exports, remittance, and private credit growth show also a positive development in recent times. In the first month of FY 2022-23, goods worth $3.98 billion have been exported. According to Export Promotion Bureau (EPB) data, the country crossed the $50 billion milestone for the first time in the last FY 2021-22 with exports worth $52 billion. According to the report, readymade garments contributed the most to the growth as usual. Last month, exports in this sector were worth $3.36 billion. As such, 84.49 percent of the total exports is apparel products. And compared to July of the last financial year, the export of this product has increased by 16.61 percent. Also read: Economy needs transitional policy to overcome the crisis: Debapriya Meanwhile, according to data of the European statistical agency Eurostat, the import of clothing products from Bangladesh has increased by 44.95 percent from January to May this year. $9.58 billion worth of clothing items have been imported till this time, the report said. BB data shows, in July private credit growth of Bangladesh reached 13.96 percent to Tk 13.52 lakh crore. Bank officials say that many have taken up new projects. Many others are increasing productivity. Housing, car, and personal loans have also increased this year due to low-interest rates. In addition, the price of the dollar has increased by more than 20 percent in the last four months. Read Hope amidst forex crisis: Bangladesh received $2.03bn remittance in Aug Although in the announced monetary policy till December this year, the growth in private sector credit is targeted 13.6 percent. As a result, the monetary policy target of credit growth has already been exceeded. Despite much inflation, consumers are borrowing more. Because the loan interest rate is still around 9 percent. According to the latest data of BB, Bangladesh's inward remittance flow worths USD $2.03 billion in August. It is showing hope to ease the forex crisis through this upward trend of remittance. In July, the first month of FY 2022-23, expatriate sent $2.09 billion remittance, which was highest in last 14 months. The inward remittance flow was $1.87 billion in July and $1.81 billion in August in FY 2021-22. Md Serajul Islam, executive director and spokesperson of Bangladesh Bank (BB) told UNB that the central bank has simplified various processes to attract more remittances in banking channels. Read BB allows floating exchange rate of US dollar amid pressure The government is also extending remittance incentives as well as providing policy support. Now the dollar rate is getting higher, he said. The sector insiders said that Bangladesh’s inward remittance flow will grow more as manpower export hit a new high in the past fiscal on a post-pandemic rebound of the overseas job market. The data of the Bureau of Manpower Employment and Training (BMET) showed over 9.88 lakh workers had gone abroad in the fiscal year FY22 while this figure was 2.71 lakh in FY 21. This happens to be the highest number of annual overseas jobs in the last seven years. Officials hope the outflow of workers would increase in the current fiscal year as Malaysia is going to restart hiring manpower from the country, following a negotiated deal. Read BB moves to encourage greater flow of remittance to boost forex

Bangladesh’s gross domestic product (GDP) is expected to grow by 6.9 per cent in the running FY2021-22, according to an Asian Development Bank report released on Wednesday. The bank’s Asian Development Outlook (ADO) 2022 said the growth forecast reflects rebound in external trade and recovery in domestic economic activities fuelled by implementation of stimulus packages and increased remittance. Inflation is expected to increase to 6.0 per cent in FY2022 from 5.6 per cent in 2021, it said. The current account deficit is likely to widen from 0.9 per cent of GDP in FY 2021 to 2.7 per cent of GDP in FY2022 on increase in imports and decline in remittance growth. Read: ADB to provide $143 million to Bangladesh The main risk to this growth projection is higher prices for oil and imports, and the loss of export sales beyond those built in the present forecasts, mainly due to the Russian invasion of Ukraine. “The ongoing socio-economic recovery need to be accelerated by enhancing domestic resource mobilization, incentivizing the private sector to create products and services, promoting modern green technologies, and fostering knowledge and innovation,” said ADB Country Director Edimon Ginting. “Building climate resilient infrastructure and services, introducing carbon tax on fossil fuels, and promoting green investments will help to further advance the current policy initiatives for managing climate change for inclusive and sustainable green growth,” Ginting added. The report said that private investment will get stronger, reflecting a solid growth in private sector credit and imports of industrial raw materials and capital goods. With large available funding, public investment will increase to support the implementation of priority large infrastructure projects. Growth in private consumption, however, may be affected by a decline in remittances. Read: Finance minister thanks ADB for prompt assistance in tackling pandemic Inflation is expected to reach 6.0 per cent in FY2022 from 5.6 per cent in FY2021 as price pressures are increasing from upward adjustment in domestic administered fuel prices, rising global food and fuel prices, and implementation of stimulus measures. The report pointed out that managing climate change is critical to ensure inclusive and environmentally sustainable growth. As part of developing national adaptation plan by the government, a climate risk–informed master plan should be drawn up for each sector and development unit. Capacity for better accessing and utilizing climate risk analysis needs to be mainstreamed in public financial management decisions across government. Enabling policies are necessary for green investments, the development and adoption of green technologies, and for greening of existing industries, said the report.

The country will need to accelerate structural transformation of the economy by building strong industrial and manufacturing sectors if it  wishes to become a higher middle income country by 2031. "To maintain its position among the developing countries and become a higher middle income country by 2031, we will need strong industrial and manufacturing sector, which will help maintain high economic growth. For this, we will need to accelerate the structural transformation of the economy," according to an official Financial Ministry document. It said that the country has been gradually moving from an agro-based economy to a manufacturing-based economy as a result of the pursuit of effective government policies and action plans during the last 12 years. Therefore, it said, the contribution of agriculture to the GDP has been gradually declining and the desired structural transformation is taking place in the economy. Bangladesh has already qualified for graduation from the list of Least Developed Countries to a developing, or lower middle-income country. According to the United Nations Capital Development Fund (UNCDF) recommendation, Bangladesh's transition will be effective in 2026. It means until 2026, Bangladesh will be able to enjoy all the benefits applicable to LDCs. However, under the current rules, Bangladesh will be able to enjoy duty-free and quota-free market access for another three years, i.e. until 2029, to overseas markets that offer favourable trade terms to LDCs. Also read: Progress meeting held to eliminate homelessness in Mujib Centennial The document said that in future the government will give priority to accelerating the structural transformation of the economy. To this end, the government will provide necessary financial assistance for the implementation of some activities that aid this transformation.  

Revenue deficit defaulting bank loans and worsening poverty situation due to COVID-19 are causing some problems in the country’s economy. According to a budgetary document, revenue deficit and increasing unrealised loans in banking sector are hurtimg the economy. It also stated that poverty situation is also a matter of future concern . The target of revenue collection for the running fiscal has been set at Tk 330,078 crore. Read Govt to provide seamless automated services to taxpayers to boost revenue, says official document VAT wing will contribute the lion share with Tk 127,745 crore and target for Income Tax and Tax on Profit has been set at Tk 104, 952 crore. The revenue collection from import duty will be Tk 37, 907 crore, Tk 54,465 crore from from Supplementary Duty, Tk 56 crore from export duty, Tk 3825 crore from Excise Duty while Tk 1050 crore from other taxes and duties. In the last fiscal (2020-21) the revised revenue target was Tk 301,000 crore while it was set Tk 330,000 in the main budget. Also read: ‘Bangladesh economy shows signs of positive growth’ despite global recession But the NBR could not attain the revised target mainly due to the ongoing pandemic that forced the government to impose various types of lockdown that hampered the economy a lot. According to the available data the revenue collection in 2020-21 fiscal was Tk 41,000 crore less than the revised target while Tk 70,000 from the original target. The collection was Tk 259,900 crore although the growth was 19 percent. According to data, the tax to GDP ratio of the country has been 9.9 percent on an average since 2015-2019, while it is 19.8 percent for India, 23.9 percent for Nepal, 14.7 percent for Pakistan, 13.5 percent for Sri Lanka. Read NBR directs big push to reach the revenue target for current fiscal The ratio is 25.6% for developing countries and 35.9% for developed countries, according to the data. The tax-to-GDP ratio is a ratio of a nation's tax revenue relative to its gross domestic product, the value of goods and services produced in a country during a certain period. The ratio is also a marker of how well the government controls a country's economic resources. The document mentioned that due to increasing revenue deficit it is becoming tougher day by day for very necessary public expenditure financing in various sectors like infrastructure, health, education, water resources and social safety net. It also said that in the banking sector especially in the public banks high rate of unrealised loans is creating pressure on eonomical situation of damaged banks and causing hurdles to collect deposit. Read BUILD frets over budget deficit amid revenue collection struggles On January 25, 2021 Finance Minister AHM Mustafa Kamal in Parliament said that there are more that 300,000 loan defaulters in various banks and financial institutions across Bangladesh. As of October 2020, there were 334,982 loan defaulters across the country. However, the amount of non-performing loans (NPLs) has gone down by Tk 17,737 crore. As of September 2020, the amount outstanding loans stand at Tk 94,440.47 crore, per Bangladesh Bank data, the minister mentioned. Also read: Coronavirus: Experts for prudent economic recovery plan for Bangladesh

With the pandemic hitting hard the economy as an external shock, the government gives an immense importance to investments, both local and foreign ones, for ensuring a balanced development and improving business environment in the country. “The government will take effective steps to build infrastructures and provide other policy supports to improve the investment-friendly environment,” says an official document obtained by UNB. To increase investments and create jobs, it says, steps have been taken to establish 100 Economic Zones across the country, which will provide employment opportunities for nearly one crore people. Approval has already been given for the establishment of 97 Economic Zones. Read Bangladesh’s economic progress continues despite pandemic: Minister The document says production has already begun in nine economic zones and the development work on 28 economic zones is under way, creating jobs for around 40,000 people. “Employment opportunities will be created for another 8 lakh people,” it says. As of now, investment proposals, worth US$ 27.07 billion, from 210 investors have been submitted for these economic zones. “Of the total amount, about US$ 1.60 billion is foreign investment.” The largest Economic Zone in the public sector 'Bangabandhu Sheikh Mujib Industrial City' is being developed in Mirsarai, Sonagazi and Sitakunda upazilas on 30,000 acres of land as a modern industrial zone. Also read: Coronavirus: Experts for prudent economic recovery plan for Bangladesh To woo investors, seminars, workshops, roadshows and tradeshows are being organised and sponsored both at home and abroad. Through these arrangements, as per the document, Bangladesh can identify new investors, which will help augment the investment. More importantly, the document says, the government is laying special emphasis on the implementation of projects under Public-Private Partnerships (PPPs) to attract investment required for the implementation of the government's development plans. Also read: ‘Bangladesh economy shows signs of positive growth’ despite global recession At present, as many as 76 projects are scheduled to be implemented under the PPP, against which the investment worth US$ 27.76 billion has been mobilised. One project under PPP has already been implemented and six more projects are under implementation.