Emphasis has been placed on the employment-oriented growth for the country to become a high-income economy by 2041. To this end, the government's New Bangladesh Perspective Plan (2021-2041) has set a target of providing jobs to 1,000 youths – both male and female – from each upazila of the country every year.
The government's long-term plan says the country will gradually transform from agricultural to industrial.
By 2031, the industry's contribution to GDP will reach 40%.
However, when Bangladesh becomes a developed country in 2041, the growth in the industrial sector will come down to 33-35%.
As a result of industrialisation, workers engaged in agriculture and the informal sector will come to the industrial sector.
In the 2019-20 fiscal year, the contribution of the industrial sector to GDP was only 6.48%.
This information was presented in the public awareness meeting on "Bangladesh Perspective Plan-2021-41" on Thursday.
Dr Shamsul Alam, member of the General Economics Division of the Planning Commission, presented the keynote paper at the meeting chaired by Planning Minister MA Mannan.
The meeting was held at the conference room of the National Economic Council in Sher-e-Bangla Nagar.
Dr Shamsul Alam said Bangladesh would be a developed country by 2041, with a per capita income of more than $12,500 at current prices.
"But for this we have to take far-sighted political and economic steps. To this end, it has become urgent to create a roadmap in the perspective plan."
According to the keynote paper, Bangladesh will naturally undergo a major structural transformation on its way from a least developed country to a high-middle income country in 2031, and from there to a high-income country by 2041.
Vision 2041 and Perspective Plan 2041 rely on four institutional pillars, the beneficiaries of which will be the people, and they will be the main driving force in the process of growth and transformation.
The four pillars are good governance, democracy, decentralisation and empowerment.
Dr Alam said the first decade of the new perspective plan will focus on increasing productivity and saving capital with high growth sources.
In the second decade, however, high-skilled labour and adequate investment will help accelerate innovation-oriented productivity growth.
In addition to pursuing high growth strategies, measures will be taken to ensure that high growth does not create serious inconsistencies in financial management, inflation or the balance of transactions, he said.
In addition, high growth must be inclusive and helpful to poverty alleviation, so that its benefits can easily reach people.
At that time, the planning minister said Covid-19 is making the country suffer a little.
"Bangladesh's economic progress is on the right track. We are good on many indices but not good on ideological indices.
"There is a work environment due to political stability. And that is why the country is moving forward."
Cabinet Secretary Khandker Anwarul Islam and Principal Secretary to the prime minister Dr Ahmad Kaikaus were special guests on the occasion.
The cabinet secretary said that the good governance programme has made a significant contribution in bringing good governance in the country.
"As a result, 35 out of 48 indicators have been achieved. We will achieve the plan we have taken with a proper investment."
He said Sweden has shown interest in building a high-standard hospital on the bank of the Padma River to improve health services in Bangladesh.
"This kind of investment is coming. The people of the country will not need to go to India or to any other countries for treatment. This will also save foreign exchange."
Principal Secretary Dr Ahmed Kaikaus said the government is taking various long-term plans and implementing them.
"That is why the country is developing today. However, some anti-government research organisations do not want to accept it."