UN assistant secretary general Haoliang Xu has suggested Bangladesh to work together to escape the middle-income trap by focusing on necessary structural transformation, innovation, increasing productivity, improving governance and lowering inequality.
“This is a significant achievement. And definitely Bangladesh is on the right track to address the challenges ahead,” he told a small group of journalists, including the UNB correspondent on March 25.
The UN official, however, said there is still much to be done as Bangladesh is embarking on a new chapter in its development with the expectations of continued strong economic growth.
Xu, also a UNDP assistant administrator, laid emphasis on addressing challenges related to inequality, climate change, urbanisation, job creation, technological advancement and economic diversification.
The UN official said he has every confidence that Bangladesh will be able to make the current achievements sustainable and become a developing country officially.
He said though Bangladesh will lose some benefits as an LDC country after graduation, there are lots of benefits that Bangladesh can enjoy after formal graduation. “You have many years to get prepared.”
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