Bangladesh has moved towards into an emerging country and is now considered as the next eleven economies (NEE) identified by Goldman Sachs as potential country for investment in food and beverages, technology, textiles, leather tanning and real estate. Big consumer markets along with sound macro economy are the main reasons behind these countries making into the list of the next eleven economies. Bangladesh has been maintaining a sound economic growth for the last few years with a consistent GDP growth of 6 percent. Political maturity and openness to trade has greatly facilitated Bangladesh to uphold such healthy growth. It has made tremendous development on sectors like agriculture, healthcare, power, energy and industry. Despite of external and political factors it has successfully sustained such growth which defines us as a hardworking and persevering nation overcoming any odds. Food security has always been a concern as Bangladesh being a LDC country. Efficient supply chain management, skilled labor force, introduction of new technology can help us to achieve a nation proud of achieving self sufficiency in food security. Proper hygiene, sanitary practices and safe water should also be ensured to have best possible impact on health and nutrition.
Advancement in research and development lead to a promising growth in agriculture. The demand of rice is always increasing being the staple food of the country. In order to cope up with the demand swift research and ample supply is required. Bangladesh is yet to achieve full self sufficiency in food sector. A number of manufacturing companies has set up over the years with state of the art technology providing high quality products. Such companies are well supported by the government to ensure smooth operation. They are playing an important role in the major food sectors namely: fishery,poultry, dairy, vegetables, rice etc. Other than that Bangladesh has a rich geographical and biological advantage. A favorable climate to grow vegetables and rice eases the pressure to import such products which would have cost a significant amount. Bangladesh has earned a lot of foreign currencies by exporting shrimps in US, EU and other countries. The poultry and dairy sector needs a lot of attention and restructuring as the demand is rising. Efficient supply chain management and storage facilities are required to make these sectors sustainable.
The population is increasing and so is the middle class as they are now more aware of nutrition and proper diet. As a result the demand for quality food products are high. Despite several challenges Bangladesh has so far achieved a commendable growth in food sector and is likely to perform better with proper policy support and foreign investment.