It is believed that infrastructure mega projects
could serve as crucial drivers to boost economic growth in a developing country
for a country like bangladesh where the median GDP growth has remained around 7%
during the 11 years of 2008 to 2019.
this seems to be a promising idea to initiate mega projects and build the country's future but
would it offer all those benefits that the government expects?
today we will find out
how bangladesh can benefit from mega projects
and to what extent the country's mega plan will help transform its economy
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mega projects the ultimate road to recognition for bangladesh
history manifests that infrastructure-based mega projects served as landmarks for a country
such projects bring a transformational impact on the lives of the long-deprived
population of an economically developing country
bangladesh has realized that mega projects are the ultimate material drivers
to accelerate economic activity and encourage
a sustainable transition to development
now that the country is on the verge of graduating from the ldcs
it is the right time for bangladesh to foray into the mega project culture
do you know what it refers to?
the mega project culture refers to combining several projects into a single mega project
bangladesh has taken the same route and gotten involved in this culture
after ensuring significant economic stability
over the past decade the country is a remarkable example of attracting
and investing capital into the growing infrastructural needs
and overseeing an incredible increase in investment capital since 2017.
now global investors perceive bangladesh as a solid
investment opportunity and why wouldn't they do so
bangladesh is offering them an ideal opportunity to make a profit
the country sits between the sark and asean
provides exclusive access for the Himalayas and china
and offers a flexible and welcoming foreign investment regime
bangladesh is on its way to becoming the primary supply chain hub in south Asia
and mega projects will help it achieve this goal pretty soon top mega projects in bangladesh
the Bangladeshi government aims to transform the country's
infrastructure and economic picture through the mega projects currently under development
these include the padma bridge, dhaka, chittagong elevated expressway,
dhaka metro rail and data chittagong express railway
but the story doesn't end there bangladesh is also overseeing
the rapid construction of other relatively new but equally significant projects such as
metro rail bay terminal, karnapouli tunnel
bus rapid transit the airport's third terminal and rupert nuclear power station
then there are projects like dhaka cox's bazar railway link, dhaka sillette four lane highway,
pyra deep sea port and four lane expansion of major highways
despite the catastrophic impact of the coronavirus epidemic
bangladesh has ensured that work on these projects never gets stalled
out of these the average projects
nine of these projects until december 2021 was 56.31%
expectedly these projects will add at least 4% growth to the gdp when implemented
how did bangladesh turn to mega projects?
the plan was adopted much before the agenda 2030 presented by the current
bangladeshi government under the leadership of sheikh hasina
bangladesh envisaged instigating multiple mega projects to deliver social
and economic goods to millions of its people and stimulate economic growth
the awami league's victory in the ninth parliamentary elections
paved the way for massive developmental activities
since the government remained the same the projects continued without any disruption
and in fact construction activities gained
more momentum gradually these mega projects encompassed a variety of sectors
from infrastructure and roads to energy and power
the government commenced work on at least one dozen large-scale projects in the second term
this time the priority was the power energy and communication
sectors there's immense potential in bangladesh's power and energy sector
and a ripe opportunity to create employment and encourage rapid economic growth
though the country has observed a considerable increase in per capita income and gdp
it is still reeling from the adverse impact of the pandemic
the pace of construction work on most mega projects slowed down
as the country was forced to observe strict health regulations
still we must applaud how bangladesh has persistently strived to overcome
obstacles and hindrances in its quest to achieve economic stability by 2030.
there has been much progress in the most anticipated padma bridge and metro rail projects
as of june 2021.
the metro rail line 6 was almost 68% complete
while the padma bridge project was around 93% complete
padma bridge is being constructed with indigenous resources
it is an important project for bangladesh as it will connect its eastern and northern regions
with the southwestern parts by june 2022
the bridge will be open for traffic the carnifoli tunnel
built under the carnivoli river is yet another promising project
it is Bangladesh's first under river tunnel and you would be surprised to know that
construction on this tunnel including the supply
of construction materials didn't stop even during the pandemic
so far
70 % of this tunnel is complete and as far as the bus rapid transit or brt project is concerned
it was around 35 % complete until September 2021
the construction process was extended until June 2022 by the planning commission
on the other hand the construction process on dhaka ashulia elevated
expressway was delayed due to covid 19.
the government has given the go-ahead on the proposed bangabandhu railway bridge
when this project is completed it will reduce pressure on the bangabandhu bridge built over
the jamuna river while making transportation of goods to India via bengal easier
when the costs of transporting goods drop
it brings forth positive social and economic life changes
bangladesh might soon enjoy all these benefits
regardless of the construction related blockages and delays
it is confirmed that whenever bangladesh completes its many mega projects
its international image will get an instant transformation
economists believe that bangladesh would gain much respect and dignity across the globe
the government is currently prioritizing 8 mega projects
and has characterized them as fast track projects
these include the padma bridge and rail link, rooper nuclear power plant,
metro rail, the coal-fired power plant of matarbati and rampal
chattogram cox's bazaar rail link and the peda seaport
the regime has decided to materialize its vision in 2041
of transforming bangladesh into a developed country
bangladesh is pushing its boundaries to ensure timely completion
and implementation of its flagship projects
making the country an investment haven for foreigners
infrastructure upgrades always pay back big time so bangladesh can also expect sustainable returns
trade pundits expected to become a 500 billion dollar economy by 2026
by 2030 these large infrastructural mega projects would transform bangladesh into
crucial sectors like communications transportation ports and energy
this transformation would help bangladesh achieve high mid-income country status by 2041.
that's how bangladesh aims to build its future
what do you think is bangladesh being over ambitious or headed in the right direction?
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