Dhaka: Finance Minister Amir Khosru Mahmud Chowdhury announced that the government is working with a comprehensive plan to increase people’s income and transform Bangladesh into a trillion-dollar economy by 2034. Addressing a query from ruling party lawmaker SM Jahangir Hossain in the Jatiya Sangsad, the finance minister highlighted the country’s strategic direction.
According to Bangladesh Sangbad Sangstha, the latest data from the Bangladesh Bureau of Statistics indicated that the per capita income of the country stood at US$2,769 for the fiscal year 2024-25. The government has set a significant target to achieve the trillion-dollar economy milestone by 2034. A broad-based action plan is under formulation, focusing on investment, employment generation, economic democratization, the creative economy, and the sports economy.
The finance minister emphasized that the government is working on multiple sectors to increase per capita income, with a focus on employment, investment, production, exports, remittances, skill development, social protection, and macroeconomic stability. Several initiatives have been outlined to strengthen the economy and raise people’s income.
The government is prioritizing new employment opportunities in the production, construction, services, ICT, agro-processing, and small entrepreneurship sectors to tackle unemployment and boost household income. Efforts to boost private investment and industrialization include simplifying business procedures, ensuring investment-friendly policies, and encouraging production-oriented industries to create more jobs and income opportunities.
To support the SME and entrepreneurship sector, the government is facilitating easier financing, supporting new entrepreneurs, and encouraging women and youth entrepreneurs to expand economic activities at the local level. Export growth and market expansion are being prioritized through diversification of export products, exploration of new markets, and retention of existing markets to enhance foreign earnings and industrial production.
Highlighting the importance of remittances, initiatives are underway to enhance overseas employment, improve workers’ skills, and encourage remittances through legal channels to strengthen rural economies and foreign exchange reserves. Skill development and training programs are being expanded to align with domestic and international labor market demand, ensuring skilled manpower can secure better jobs and higher income.
The government is also bolstering agriculture, rural infrastructure, and agro-based economic activities to boost production and income at the grassroots level. Some initiatives have already commenced in the 2025-26 fiscal year, while others will be executed in short, medium, and long-term phases.
The finance minister expressed hope that sustained efforts in employment, investment, exports, remittances, and skill development will lead to higher per capita income, reduced unemployment, increased purchasing power, and steady progress toward becoming a trillion-dollar economy by 2034.