DHAKA — The United States, through USAID, is partnering with the Government of Bangladesh and the Bangladeshi private sector to help diversify Bangladesh’s economy and stimulate new streams of economic growth.  USAID’s Comprehensive Private Sector Assessment (PSA) identified agribusiness (food processing), health care, information and communications technology and outsourcing, light engineering, pharmaceuticals, and tourism as some of the most promising industries beyond the ready-made garments (RMG) sector for private sector engagement and investment. 

The PSA, conducted between October 2018 and July 2019 by Inspira Advocacy and Consultancy Ltd., a Bangladeshi private consultation firm, examined 16 emerging sectors in total, which also included ceramics, entrepreneurship, leather and leather goods, medical equipment, plastic, renewable energy and energy efficiency, shipbuilding, shrimp and fish, telecommunications, and vehicle assembly.  The assessment did not cover some traditional industries, including the energy sector as a whole.

The PSA’s findings support the Government of Bangladesh’s economic diversification reforms initiative and help the private sector deepen its engagement with the government and other stakeholders in order to further promote Bangladesh’s economic growth.

The U.S. Embassy in Bangladesh, through USAID and other agencies and sections and in collaboration with the Government of Bangladesh, will analyze the priority sectors identified in the PSA and explore specific strategies for investment and increased engagement with the Bangladeshi private sector in these fields.

The Executive Chairman of the Bangladesh Investment Development Authority Mr. Sirazul Islam, USAID Deputy Administrator Bonnie Glick, and U.S. Deputy Chief of Mission JoAnne Wagner attended the launch in a show of bilateral support towards strengthening Bangladesh’s economy through diversification.

Read the full Comprehensive Private Sector Assessment here: https://go.usa.gov/xpbqQ