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Saturday, November 1, 2014

Thursday, November 29, 2012
Editorial

Editorial

Our global remittance ranking

Break new grounds

Among 10 major remittance recipient nations, Bangladesh has been pushed one notch down to eighth position, according to a World Bank report.

Even so, in absolute terms Bangladesh's total receipt this year will be around US$14 billion, which will be US$2 billion higher compared to the projection made by WB last year.

In spite of the increase in its remittance receipt, the country still trails behind quite a few other competitors, even though there has been a significant rise in the overall flow of remittance globally. A WB estimate says, the flow of remittance towards developing countries is projected to reach US$406 billion in 2012, which is a 6.5 per cent increase over that of the previous year. And in 2013 and 2014, the upward trend will continue by 2 per cent over each previous year.

Overall, the global trend is continuous growth in remittance flow towards the developing countries.

But not to be crowded out by new aspirants like Nigeria and to have a bigger share of this ever-growing flow of foreign remittances, Bangladesh will have first to improve the quality of manpower for export. The way to do it is by enhancing its skills in diverse trades. At the same time, it will also have to explore newer markets.

The government will have to take up programmes to train overseas job-seekers in keeping with demands.

While we have to increase the capacity of our foreign diplomatic missions to handle the task, the private sector, too, needs to be encouraged to launch training programmes as well as search for markets abroad.

Towards enhancing foreign remittance receipts, some impediments will have to be removed including lowering of service costs. Especially, considering the significant facilitating role played by mobile telephony in increasing remittance flow, such form of banking will have to be expanded.

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Break new grounds by changing the political system in the country; we cannot possibly continue this trend anymore than what it is today. How long we can allow Khaleda Zia to go on threatening the nation with Lagatar hartal this way and on the other side Sheikh Hasina raising confrontational politics in this manner. Just like any other way of doing business we must have new leadership in the country which can do some value adding; similarly we need to put some value adding into the process of training our human resources, so that they can all travel to oversea, earn much higher salaries and make the nation rich by making it the number one country on that list of remittance earner. Indian and Philippines are the just two countries who can be great example to us. English language must be priority number one (1) and build more vocational school & colleges by using donor’s money and local resources. Every one of us must contribute including all rich people, especially the big industry owners. It is not at all difficult.

This nation is suffering because we do not have the correct leadership in front of us. Time has come to put some serious through into that by all parties immediately. We can not delay this process anymore.

: Sheikh Monirul Islam, Opee

Government should establish a sufficient number of such training institutes where the unskilled labors will be converted into skilled labor through proper training; this may multiply the growth of remittance.

: Md. jahidur Rahman Khan

Comments

  • suahmed
    Thursday, November 29, 2012 01:06 AM GMT+06:00 (100 weeks ago)

    It is appreciable that poor workers of Bangladesh are sending a huge amount of much needed foreign currencies, which is contributing a lot to the development of the country, but in return they are not getting maltreatment both at home and abroad. They are being harassed by the manpower agencies, employers and airport immigrant,custom and security officials. Govt. should look into the matter seriously.


 

 


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