Finance Minister Amir Khosru Mahmud Chowdhury on Monday said the government is working with a comprehensive plan to increase people’s income and transform Bangladesh into a trillion-dollar economy by 2034.
Replying to a written question from ruling party lawmaker from Dhaka-18 SM Jahangir Hossain in Parliament, he said the per capita income of the country stood at US$2,769 in the fiscal year 2024-25 as per the latest data published by the Bangladesh Bureau of Statistics (BBS).
The minister said the present government has set a major target to achieve the milestone of a trillion-dollar economy by 2034, and in this regard a broad-based action plan is being formulated focusing on investment, employment generation, economic democratisation, creative economy and sports economy.
He said the government is not focusing on a single sector alone to increase per capita income; rather it is simultaneously working on employment, investment, production, exports, remittances, skill development, social protection and macroeconomic stability.
Khosru outlined several key initiatives taken to raise people’s income and strengthen the economy.
He said the government is attaching top priority to creating new employment opportunities in production, construction, service, ICT, agro-processing and small entrepreneurship sectors to reduce unemployment and increase household income.
The minister added that steps are being taken to boost private investment and industrialisation by simplifying business procedures, ensuring investment-friendly policies and encouraging production-oriented industries to create more jobs and income opportunities.
To strengthen the SME and entrepreneurship sector, the government is facilitating easier financing, supporting new entrepreneurs and encouraging women and youth entrepreneurs to expand economic activities at the local level, he said.
Khosru also said export growth and market expansion are being prioritised through diversification of export products, exploration of new markets and retention of existing markets to increase foreign earnings and industrial production.
Highlighting remittance, he said initiatives have been taken to enhance overseas employment, improve workers’ skills and encourage sending remittances through legal channels, which will strengthen rural economies and foreign exchange reserves.
The minister further said skill development and training programmes are being expanded in line with domestic and international labour market demand so that skilled manpower can secure better jobs and higher income.
“The government is also strengthening agriculture, rural infrastructure and agro-based economic activities to increase production and income at the grassroots level,” he added.
Regarding implementation, Khosru said some initiatives are already being implemented in the 2025-26 fiscal year, while others will be executed in short, medium and long-term phases.
He expressed hope that through sustained efforts in employment, investment, exports, remittances and skill development, Bangladesh will achieve higher per capita income, reduce unemployment, increase purchasing power and move steadily toward becoming a trillion-dollar economy by 2034.