Bangladesh’s development did not benefit all equally: ICCB

Bangladesh has made a spectacular economic progress over the last five decades after achieving independence in 1971, despite limited resources and a war-hit poor economy.

However, everyone did not benefit equally from the nation's impressive growth and development, the International Chamber of Commerce, Bangladesh (ICCB) said.

The organisation’s president, Mahbubur Rahman, came up with the statement while presenting the Executive Board Report of ICC Bangladesh for 2020 in its annual council held virtually on Sunday, said a press release.

According to the report, the GDP growth rate has reached an impressive record level. Per capita income has also risen steadily. Its poverty slashing performance is among the best in the world.

“But, increasing income and wealth inequality created discriminations,” said Rahman.

Another challenge is the heavy concentration of economic activity in big cities like Dhaka and Chattogram, which causes a huge rural-urban divide and increased urban poverty, he added.

The biggest challenge for Bangladesh is how the country ensures that the fruits of growth and development reach people at the bottom of the economic pyramid, the ICC Bangladesh president believes.

Among others, Rokia A Rahman and A K Azad, ICC Bangladesh vice-presidents, Syed Manzur Elahi, chairman of Apex Footwear, Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI), Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industry (DCCI) were present at the event, the release said.