The total combined output in the entire Bangladesh economic corridor region is expected to increase from $32 billion in 2020 to $286 billion by 2050 in the business induced scenario (BIS) due to the intervention.
Along the timeline, the total corridor region BIS output is expected to split off from the business as usual scenario's output and gradually increase to become 1.4 times of the total corridor region business as usual output by 2030, and 2.6 times by 2050, said the Bangladesh Economic Corridor Development Highlights launched by the Asian Development Bank (ADB) at the Bangabandhu International Conference Center (BICC) in the capital on Wednesday.
Planning Minister MA Mannan spoke at the function as the chief guest while Executive Chairman of the Bangladesh Economic Zones Authority (BEZA) spoke as the special guest.
ADB country director for Bangladesh resident mission Edimon Ginting made the welcome remarks while additional secretary of Economic Relations Division (ERD) Md Mostafizur Rahman gave the opening remarks.
ADB senior country specialist Soon Chan Hong made a power-point presentation while ADB director on public sector management and governance Sabyasachi Mitra, Director (finance) of PRAN-RFL Group Uzma Chowdhury and chairman of Policy Exchange Bangladesh Dr Masrur Reaz spoke at the discussion session.
Speaking on the occasion as the chief guest, Planning Minister MA Mannan said that there are corridors in every country while there is a need to create adequate bypasses in Dhaka to have maximum outputs and economic benefits towards developing the economic corridors.
He mentioned that in the haor region covering Sunamganj and Netrakona districts, the government has started building flyover to boost connectivity.
BEZA executive chairman Shaikh Yusuf Harun said that the economic corridor would play a pivotal role in catalyzing the economic zones being developed across the country by BEZA.
In his address, ADB country director Edimon Ginting said that the Northeast and the Southwest region of Bangladesh are lagging in terms of development as this corridor will make them the new center of growth.
He said that the economic corridor will boost regional cooperation.
