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Differentiate Bangladesh
Okay. Here are the real facts. No matter what it takes, Bangladesh has to be the wealthiest nation in the world. Rather than asking ourselves how this will be possible, we have to tell ourselves that no matter how difficult it is we have to accomplish it. The question that haunts us is, if South Korea can, if Malaysia can and if Singapore can, then why can't we?
All we need is the right environment to start steering our nation towards prosperity. In order to do that, we must differentiate Bangladesh from other nations. Bangladesh has to be unique.
In the book Differentiate or Die', the author Mr Jack Trout states, "To be different is to be not the same. To be unique is to be one of its kind."
The author also states, “Getting into the mind with a new idea or product or benefit is an enormous advantage because being first is a differentiating idea”. We have to differentiate Bangladesh to present ourselves to the world community.
Recently, Chief Adviser Dr Fakhruddin Ahmed directed the Board of Investment (Bol) to redesign its strategic plan by incorporating new ideas, practical suggestions and forward-looking proposals to enhance investment. This is a very bold step taken by the caretaker government. We need foreign direct investment (FDD coming into Bangladesh. This will definitely boost the economy of the nation and thus boost employment.
The population of our country is around 15 crore. I must say that this is sort of a blessing even though many argue that reduc-( tion of population and family planning is a must. Our population will only be a blessing if we can use it efficiently. Bangladesh can differentiate itself from others by showing to the foreign investors that we have immense employment opportunities at affordable salaries.
We can also use the young talent of our nation in sports. It is sad to see that Bangladesh attends very few events in the Olympics with only a few participants. A country with a population of 15 crore sends only 4-5 players to the Olympics! But we can definitely differentiate ourselves if we attract foreign investors to invest in sports equipment manufacturing industries.
So, Bangladesh can be differentiated by highlighting that we have enough manpower who are not only dedicated, energetic and hard-working but also affordable. More employment translates into economic boost and economic boost means prosperity. Minhaj Ahmed Dhaka
Traffic jams devour economic growth
Road congestion is one of the main sorrows of commuters in Dhaka city. This is a phenomenon that has amplified over the last couple of years. To reduce traffic jams, several governments in the past have undertaken benevolent programs such as, wider roads,
link roads, fly over, foot over bridges, DhakaEastern by pass road Bishaw Road, Tongi-Ashulia Road, Savar-Chandra by pass road, DhakaKaligong-Ghorasal Road, Katchpur- Jatrabaribypass road, etc.
But the growing population and the migration of people into the city has not helped the situation much. Dhaka City Corporation authorities eradicated unauthorised rickshaws from the city several times. They also created some VIP roads to scuttle rickshaw pullers. But to no avail. Traffic jams clutter our daily lives, schedules and programmes just like congenital shadows.
Here are some impulsive swansong suggestions; wider roads, more link roads, eradicate hawkers from the foot paths or settle them in holiday markets, reduce private cars because it covers 80 percent roads body but transpons only 10 percent of the public, facilitate electric/ magnetic superb double railway lines between Dhaka, Chittagongand Mymemshing.
The above conditions are an appeal to the concerned authorities to take various measures to better the situation and not to renown our capital as a stranded city of the world.
MZ Haider
Narsingdi
Bangladesh: Next destination for outsourcing
Wall Street's losses arc fast becoming a gain for India and the Philippines. After outsourcing much of their back-office work to India and the Philippines, banks are now exporting data-intensive jobs from higher up die food chain to cities that cost less than New
York, London and Hong Kong, either at their own offices or to third parties.
Cost cutting in New York and London has already been brutal this year, and there is more to come in the next few months. New York City financial firms expect to hand out some $18 billion less in pay and benefits this year than 2007, the largest one-year drop ever. US unemployment will rise from the current 5 percent to 6.5 percent. Over all, US bankswill cut 200,000 employees by 2009.
The work these bankers were doing is not necessarily going away though. Instead, jobs are popping up in places like India, the Philippines and Eastern Europe, often where healthier local markets exist. Bank executives call this shift 'knowledge process outsourcing', 'off-shoring' or 'high-value outsourcing'. It is affecting just about everyone, including Goldman Sachs, Morgan Stanley, JPMorgan, Credit Suisse and Citigroup, just to name a few.
Wall Street banks started cautiously sending research jobs to India a few years ago, hiring employees by the handful and running pilot programs with firms like Tata Consultancy Sendees, Copal, Office Tiger, and Pipal Research. In addition to moving some lower-level banking and research positions to support bankers and analysts in New York and London, firms are shipping some of their top bankers from those cities to faster-growing developing markets to handle clients there.
Morgan Stanley has about 500 people employed in India doing research and statistical analysis. About 100 of Goldman Sachs' 3,000 employees in Bangalore are working on investment research. Citigroup employs about 22,000 people in India, several hundred of whom work in investment research. Deutsche Bank has 6,000 employees in India. JPMorgan has 200 analysts in Mumbai working for its investment banking operations around die world, doing industry analysis, and compiling data and charts for marketing materials. It has an additional 125 analysts in Mumbai supporting the bank's global research division. Credit Suisse has 6,500 employees around the world working in lower-cost locations in India, Poland and Singapore. Of these about 500 are doing high-value jobs. Credit Suisse is also doubling the number of investment bankers and private bankers in India who deal with local clients in the next 12 months.
India is successful in IT outsourcing industry now India is taking preparation for high value accounting outsourcing industry. We need international standard chartered certified accountants and management accountants to compete with India and the Philippines.
Mahbubur Rahman Khan
Dhaka
Farmers miss out on market sheds
Farmers of our country grow various kinds of crops and vegetables. They have to take their produce and sell them in the market. But they have little scope to sell their products directly to consum-
ers. A section of tiny businessmen, called the middlemen, are active in buying the farmer's produce.
Farmers have no permanent space or shed in the markets. The middlemen occupy the LGED built sheds. If farmers want to sell their products, they are confined or pushed back and even sometimes threatened by the hawkers. Farmers are helpless when it comes to the market committee, also referred to as, 'tax collectors'. They give undue facilities only to the middlemen.
For this, farmers are bound to sell their products at the cheapest rate to the middlemen. Consecutively, these buying products are sold at double or triple the prices in the same market.
The commoners of Bangladesh cry for just rewards. We hope the authorities will understand the actual dynamics of the market and take relevant initiatives. They have to help farmers to sell their products at reasonable prices under the LGED built shed in the village markets all around Bangladesh.
MZ Haider
Narsingdi
Economic or political?
The relationship between India and Bangladesh is deep rooted. After 37 years of independence, we find that there are long trade gaps between the two countries. A large number of issues like water-sharing (Farakka), maritime border, Transit (Trans-Shipment), Tata's Investment, non-tariff and para tariff barriers (as set in SAFTA) remain unsettled.
Being self-critics, we see that our negotiation skills especially in diplomatic achievements, is almost zero. It is not about India but rather about our limitations or failures. On the other hand, there are several eminent Bangladeshi economists, lawyers, analysts and negotiators living home and abroad, who are not in a position to contribute.
Some intellectuals are raising their voice, apprehending that our sovereignty will face threats. Nowadays, it is time for economic domination rather than geographic invasion. As ordinary people, we are surprised to see that Egypt has earned millions by allowing the usage of the Suez Cannel, without any threat to sovereignty. The Suez Cannel has had a great impact upon the European, African and Asian economies.
In order to minimise trade gaps, we can focus on a few items that can be exported only to the seven sisters (eastern part of India). We have to change our mindset first, and then consider the political and economic aspects. Our government can form separate commissions to deal with the impending issues. Those commissions will be responsible for resolving the unsettled issues within a stipulated time line. We hope our policy makers will immediately undertake daring steps to resolve the unsettled issues with India.
AlamgirSujaet
Riazuddin Road