The “Freedom and Prosperity in Bangladesh” report was published on April 2024 by the Freedom and Prosperity Center, of the Atlantic Council. The Atlantic Council is a prominent think tank based in Washington, D.C., dedicated to shaping policy and fostering international cooperation, particularly between the U.S. and its allies.
The published report critically examines the country’s path under Prime Minister Sheikh Hasina’s leadership. While it raises concerns, it’s crucial to evaluate her tenure objectively, considering both accomplishments and hurdles navigated.
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During her time at the helm, Bangladesh has experienced incredible gains in stability, economic performance, and social development indicators. These achievements challenge certain claims made in the report when looked at with supporting data.
Recent diplomatic wins and significant economic milestones, such as Bangladesh’s elevated global economic ranking and reductions in poverty levels, stand as testaments to PM Hasina’s leadership. The country has also made strides in embracing digital technologies and legal reforms.
Political Freedom and Stability
Bangladesh has experienced a prolonged phase of political tranquility under the stewardship of Prime Minister Sheikh Hasina. This stable environment has rendered the country an attractive destination for foreign investors, whose capital infusion is indispensable for propelling economic growth. The World Bank’s Political Stability and Absence of Violence/Terrorism: Estimate has consistently awarded Bangladesh a steady and favorable rating, placing the nation well ahead of many of its South Asian counterparts.
Hasina’s administration has also implemented a series of policies aimed at ensuring economic resilience in the face of external shocks, such as the ongoing Russo-Ukrainian conflict. These measures encompass managing the balance of payments and stabilizing the national currency – crucial factors in sustaining foreign investment and nurturing economic expansion.
Criticism on Dominant-Party System and the Reality
The Atlantic Report points towards Bangladesh’s dominant-party system, suggesting it hampers political competition. However, this criticism warrants a more nuanced examination. While the Bangladesh Awami League is undoubtedly the dominant political force, it is not the sole party in the national landscape. Furthermore, the historical and contemporary political context must be taken into account.
The Awami League stands as one of Bangladesh’s oldest political parties, having played a leading and near-singular role in the nation’s independence struggle. Consequently, it boasts a robust grassroots movement and a cadre of veteran and well-known leaders. This experience and organizational strength have contributed to its continued dominance, as the party remains actively engaged and attuned to the people’s needs.
A look at the seat distribution in the 12th Parliament (excluding the 50 reserved seats) paints a more complex picture than a mere “one-party” system. While the Awami League enjoys a majority, the presence of a significant number of independent candidates, as well as the opposition, makes up a considerable share of the parliament. Overall, the stability provided by Prime Minister Hasina’s government is undeniable and has been a key component of Bangladesh’s recent advancements across various fronts.
Economic Development
Bangladesh has achieved notable economic milestones under Prime Minister Sheikh Hasina. The nation boasts one of the fastest GDP growth rates in South Asia, outpacing regional economies. This performance positions Bangladesh well ahead of the global average.
According to the latest World Investment Report released by the United Nations Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) inflows into Bangladesh saw a healthy rise of 20.2% in 2022, reaching $3.48 billion, up from $2.89 billion in the previous year.
The increasing flow of foreign investment into Bangladesh speaks volumes about the growing confidence international businesses have in the country’s economic prospects and its ability to provide a conducive environment for their operations. With the government’s continuous efforts to improve infrastructure, streamline regulations, and offer investor-friendly policies, Bangladesh is well-positioned to sustain this upward trajectory in attracting global capital.
Bangladesh’s economic landscape has undergone a transformation, with the digital and consumer sectors playing a significant role. Rapid digital adoption and a burgeoning middle class are driving consumer spending, which now accounts for a substantial portion of the country’s GDP. Additionally, Bangladesh’s startup ecosystem is thriving, fueled by substantial domestic and international venture capital investments. The Per Capita GDP continues to increase year on year, showing a resilient economy with a strong foundation for absorbing internal and external shocks.
Projections indicate that Bangladesh’s economy is set to continue its robust growth trajectory. This positive outlook is bolstered by a high rate of private sector investment and public spending on infrastructure development. Furthermore, the nation’s resilience to global economic shocks underscores its economic stability and potential for sustained growth.
Legal Reforms and the Rule of Law
PM Sheikh Hasina’s government has taken significant strides to reform the legal system and bolster the rule of law. Key reforms include separating the judiciary from the executive branch to enhance judicial independence, a milestone achieved through the implementation of directives from the landmark Masdar Hossain case.
Despite challenges, efforts have been made to improve judicial pay scales, addressing disparities and reducing undue influence over the courts. These reforms ensure fair treatment within the legal system and uphold judicial independence.
Initiatives have also focused on modernizing the judiciary, increasing transparency, and reducing case backlogs. Projects like the UNDP-supported Judicial Strengthening initiative have contributed by enhancing administrative capacity and improving access to justice, particularly for vulnerable groups.
Social Progress and Human Rights
Bangladesh has made notable strides in promoting human rights and social development. Initiatives to improve healthcare and education have yielded positive results, with increasing human development indicators and declining poverty rates.
The various educational, economic and social reforms have had a cumulative effect on the nation’s economy and society. Admittedly, challenges remain, but overall, the nation is progressing in the right direction.
On the education front, Bangladesh has achieved gender parity in secondary school enrollments and has made education accessible to nearly all (98%) children of school-going age. These achievements are crucial as the nation aspires to reach higher economic and social goals.
Conclusion
Under PM Sheikh Hasina’s leadership, Bangladesh has enjoyed political stability, attracting foreign investment and driving economic growth despite criticisms of the dominant-party system. The country has made economic strides with consistent GDP growth, a thriving digital economy, and a burgeoning startup ecosystem.
Efforts have been made to enhance judicial independence and uphold the rule of law, though challenges remain. Progress in areas like health, education, and gender equality has been mixed, but the government has made significant efforts to uplift various sectors of society.
