Successfully branding Bangladesh

It has become commonplace to identify Bangladesh as a land of natural disaster, for its never ending political confrontation and the resulting fall outs, corruption and other negative qualities. In most cases, the propaganda against Bangladesh is blown way out of proportion relative to other parts of the globe.
It is very regrettable that the great endurance capacities of Bangladeshis to struggle against great odds and, still , to make steady progress in various fields are often overlooked and only the ills are magnified. There is a general tendency among the international community to draw parallels for Bangladesh with countries facing too serious difficulties , completely overlooking the fact that Bangladesh, with its backwardness and structural deficiencies, has nonetheless made significant progress in fields that would make many emerging countries envious.
But it is also equally true that it would be not realistic to blame external quarters , always, for this poor focus on Bangladesh. In all fairness, Bangladeshis ought to recognize their own deficiencies in projecting their own country properly . This is where the brand building of Bangladesh assumes crucial importance. Our policy planners have succeeded little in imprinting on the minds of the international audience that Bangladeshis invented micro-credit to fend off poverty, and are willingly sharing it with the rest of the world. Bangladesh is competing with the giants of the world in ready-made garments and this sector is successfully growing each year. Shipbuilding, pharmaceuticals and information technology (IT) are emerging sectors in this country but these are already showing all the signs to become world leaders in these fields.
Then, the food processing industries and fruits and vegetables– aiming for export– seem to be holding out great promises. Of late, the country has been diversifying its conventional and non conventional export products as well as finding out new outlets for them. On the whole the economy of Bangladesh is on a higher growth path .As the venerable Goldman Sachs Economic Research team puts it, there are more BRICs ( Brazil , Russia , India and China ) stories out there, and Bangladesh has been identified as one of the next-11 countries with BRIC-like potential.
Goldman Sachs forecasts that Bangladesh will turn into the 22nd largest economy in the world by 2025, with a GDP of $ 208 billion. This forecast was based on roughly 5% growth. However, there is belief that the Bangladesh economy is going to achieve a much faster growth through its persistent reform programmes.
Bangladesh’s labour cost is the cheapest in Asia or the world. The economic powerhouses of Asia,–China, Japan and some south-east Asian nations– are seriously considering locating their enterprises in Bangladesh to take this advantage as a lower cost production destination. And the attractions for Bangladesh are not only for its cheap labour. The same also stem from its maturing economic policies reflected in rapidly growing export processing zones (EPZs) and special economic zones (SEZs), efforts to augment energy supply and exceptional fiscal and other concessions extended to foreign investors.
The pace of all of these positive developments can be much faster provided the country is properly branded for its worthwhile developments that would push behind its unfortunate negative outlook. Some core export products from Bangladesh need branding on proper marketing lines. The country image of Bangladesh as a whole needs to be promoted on the whole indicating its possibilities or potentials.


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