SWBEC to benefit BD, neighbours, says Muhith

12 Dec,2017


Dhaka, BdChronicle:

Finance Minister AMA Muhith on Tuesday said the proposed economic corridor through the country’s southwestern region will benefit not only Bangladesh but also its neighbouring countries.

“The proposed Southwest Bangladesh Economic Corridor (SWBEC) will not only improve the communication network of the country’s southwestern region, it’ll also facilitate easy connections with neighbouring countries Nepal, Bhutan and India,” he said.

The minister was addressing a seminar titled ‘Southwest Bangladesh Economic Corridor: Comprehensive Development’ at a local hotel as the chief guest.

Muhith said the domestic demand has seen a rise with the development activities. “The demand has been created over the nine years of the present government.”

The SWBEC is envisioned to play a key role in carrying forward the country’s economic growth momentum.      

At the programme, the findings of a study carried out by the Asian Development Bank on the SWBEC were presented.

According to the study, the economic corridor will boost Bangladesh’s human capital, technological level, infrastructure and backward linkages which in turn will enable the country to diversify higher value products and deepen its linkages with global production networks. “It’s envisaged to bring huge economic gains not only for the southwestern region, but also for the entire country.”

With well-coordinated implementation of the proposed economic corridor, the total output for the southwest region by 2050 is estimated to reach US$ 148 billion, 3.3 times higher than the estimate under the business-as-usual scenario, the study says.

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