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Maintain timeline, quality while implementing projects, Tazul asks PDs
Bangladesh fastest growing economy in Asia-Pacific: Manmohan
Dhaka, Sept 22 : LGRD and Cooperatives Minister Md Tazul Islam on Sunday asked the project directors (PDs) to maintain timeline and quality while implementing various projects.
“Right plan, minimising cost, timeline and quality maintaining are significant while taking projects in the country. Good procurement is also important for us. So, you (PDs) should be careful in this regard,” he said while addressing a seminar at a city hotel.
The three-day seminar began today as part of ADB’s first “Faster Project Implementation Week 2019” with the theme: “Delivering Faster, Better, Stronger Development Outcomes”.
Tazul Islam said there were various crises, including food and energy deficiency, when Sheikh Hasina came to power in 1996. “But now the country has made huge development.”
“ADB is always with us for our development. Bangladesh got better support from the organisation,” he said.
The minister said there are good opportunities to invest in Bangladesh following its geographical location. “We should take the opportunities to fulfill the dream of common people and Father of the Nation Bangabandhu Sheikh Mujibur Rahman,” he said.
ADB Country Director for Bangladesh Manmohan Parkash said Bangladesh has made rapid progress in the last 10 years. “With an average growth rate of over 6.5 percent in the last 10 years, Bangladesh is seen as a model for growth. Today, the global economic outlook is challenging. Growth is expected to moderate across most of developing Asia at 5.7 percent in 2019 and 5.6 percent in 2020.”
“However, South Asia will buck this trend by growing at 6.8 percent in 2019 and 6.9 percent in 2020. Bangladesh stands out by growing at 8.1 percent in 2019 and hopefully 8 percent in 2020, making it the fastest growing economy in Asia-Pacific. Today, the per capita income of Bangladesh is $1,909,” he said.
Manmohan said Bangladesh has gained significant success in many areas.
“Bangladesh, a land of rising sun, is strategically located. It is the gateway to the east for India, gateway to the west for ASEAN, gateway to the South for China, Bhutan and Nepal. Bangladesh is a Land of Opportunity and this event envisions how we can turn opportunities into prosperity.”
Bangladesh is the second largest portfolio in ADB, comprising 54 projects under implementation with a current portfolio of over $10 billion, he said.
Manmohan said the ADB supports mainly six sectors in Bangladesh – Energy; Transport; Water and Other Urban Infrastructure and Services; Agriculture, Natural Resources, and Rural Development; Finance; and Education, and Health.
“Moving forward, we have lined up significant support to meet the development needs and aspirations of the government and its people. We have programmed $5 billion of firm projects and $4.9 billion of standby projects in 2020-22 period,” he said.
The ADB country director said faster project implementation is the key to effective and efficient development. “The faster the projects are implemented, earlier the results are delivered to the people, thereby enabling people to get benefits more quickly. We have undertaken several reforms to expedite project implementation.”
Farida Nasreen, additional secretary (chief of ADB wing) of Finance Ministry, also spoke on the occasion.