In a bid to boost the economy of our country further, the government is planning to increase productivity rate of our country. According to a report published in this daily on Sunday, the government has prepared a master plan to raise the productivity rate to 5.6 percent from the existing 3.8 percent by the year 2030 to face a competitive global market.
This initiate will raise productivity, increase exports and ensure creation of jobs as well as overall economic development. Creating new jobs is important for raising productivity. Therefore, emphasis should be laid on proper technical training to the unemployed youths to turn them into human resources in the real sense.
Our export basket should
be diversified to boost earning and at the
same time we have to explore more new destinations
The country needs to gear up its productivity level and ensure the quality of products so that it can face global economic challenges as a developing nation. To do that, we need to enhance the condition of our export market. Our export basket should be diversified to boost earning and at the same time, we have to explore more new destinations.
Inefficient customs and border management, clogged transportation, incompetent and inadequate infrastructure, high costs of logistics, and delay of shipments are the major tailbacks that enforce tall cost on the economy and thus decrease our export competitiveness in trade. These factors put the country’s vigorous growth path at jeopardy and doubt.
Therefore, these factors need fixing to increase productivity. At a regional level, harmonising our logistics systems and aligning our customs with that of our neighbours could turn Bangladesh into an important hub of international business and further boost our trade and productivity.
