Bangladesh aims $ 150 billion in remittance in five years

In what seems like an ambitious target, the Bangladesh government planned to raise $150 billion through remittance in the next five years

Mar 01, 2021
Image
l

In what seems like an ambitious target, the Bangladesh government planned to raise $150 billion through remittance in the next five years. In its vision document for the 8th Five-Year Plan, the government laid out a period from July 2020 to June 2025 to achieve the target.  

 A  report in The Daily Star, the government will set up a new market expansion task force to enhance the overseas employment opportunities and markets for Bangladeshi migrants. In its 8th Five-Year-Plan, it unveiled a 10 point agenda on overseas employment and also the well beings of its migrant workers.

Even in 2020, when the economies around the world faced the brunt of the global pandemic, the country earned a record $24 billion in remittance, registering an annual growth of over 10 percent. It was one of the only three countries, others being Pakistan and Mexico, to register a growth in remittance in 2020.

"There is confidence among stakeholders that overseas employment and migration could play a more substantive role in the country's development, beyond just counting remittance," reads the vision document released by Bangladesh.

In the document, the government plans to create 5 million new overseas workers, half of them as skilled laborers, to 20 countries in four different geographic regions. 

Skill development and training centers would also be established to provide long-term training to potential migrants. The government will also engage authorities from the 20 countries to get skill set certifications. 

For the well beings of its workers, the government plans to engage nonresident Bangladeshis in respective countries to assist its workers with legal protections and mental health counseling.

Recently, a report by The Guardian estimated that over 6500 migrants workers from the South Asian countries have died in Qatar between 2010 to 2020. Most of them were said to be engaged in construction jobs and died due to adverse health and mental conditions.

DMM Thank you

SPS-NBN

News Behind the News Special Studies

Tweets about SAMonitor
SAM Facebook

Newsletter Subscription

The subscriber's email address.
Stay informed - subscribe to our newsletter.