The premise of the report on a strategyfor sustained growth is that Bangladesh, could join theranks of middle-income countries (MICs) within a decade by2016 or some time soon after. It has the necessary assets:much-improved economic fundamentals; success in implementingmany first-generation reforms; a young, rapidly growinglabor force; and an established entrepreneurial culture. Topick up pace in the development marathon, Bangladesh willneed to deepen its industrial base, further its economicintegration with global markets, and unleash the growthpotentials of its major urban centers, Dhaka especially.Reform measures essential to these objectives includecontinuing macroeconomic stability, with emphasis onstrengthening tax mobilization and tackling energy sectorlosses; deepening financial sector and external tradereforms; and rebalancing the policy focus toward hithertoneglected structural areas - economic governance, urbanmanagement, infrastructure (especially power sector, ports,and transportation), and labor skills - that are especiallyimportant for strengthening factor productivity. Progress inthese and other areas can bring the kind of sustained, rapidgrowth which the government has put at the center of itspoverty-reduction strategy. The report stresses thateconomic growth has proven to be the most potent force inthe fight against poverty. Despite serious weaknesses ingovernance, corruption most notably, Bangladesh has achievedgood growth since 1990. The study concludes thatBangladesh's challenge is not to jumpstart growth butto maintain and, to the extent possible, accelerate it.
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