Bangladesh's capital market is as promising as India and Vietnam
Own Correspondent, Dhaka, 18 August 2023: Bangladesh's capital market has potential like that of India and Vietnam, where the attention of international investors is desirable, says multinational banking services provider HSBC Holding Plc.
Growing demand and foreign investment have boosted the corporate earnings outlook here, the company said. As a result, the capital market of Bangladesh deserves more attention from global investors.
Bloomberg published this report citing an article by Harald van der Linde and Gorg, author of HSBC Holding plc. The report was published on August 16.
It is said that Bangladesh is on track to become a major consumer market by 2030. The daily income of people there will be at least 20 dollars more than in Vietnam. Besides, Bangladesh has attractive capital gains potential. Which can get up to 20 percent in the next 3 years.
According to the International Monetary Fund (IMF) outlook, Bangladesh's economic growth may average 7% till 2027. It is one of the fastest growing countries in Asia. Gross domestic product growth has averaged more than 6% over the past decade and GDP per capita has recently surpassed that of India.
According to the report, Bangladesh has recently allowed free trade of the currency. Which ensures transparency and efficiency in foreign exchange transactions. It will benefit the traders. Besides, to strengthen the country's economy, it has taken a loan of 4.7 billion dollars from the IMF in January this year.