Bangladesh-Russia sign deals; PM sought more investment from Singapore and assistance from Germany; A ten-member Bangladesh media team visits India; Bangladesh's per capita income went up; Inward remittances rebounded in May; GDP growth for the next fisca
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  • (JUNE 4-10)

    Reports noted that Bangladesh and Russia have signed two key deals for further collaboration between the two countries to develop the nuclear power sector in Bangladesh on June 5, 2012. State Minister for Science and Technology Yeafesh Osman and Director General of Russian State Energy Corporation (Rosatom) Sergey Kirienko signed the two MoUs in Moscow. 1

    In another development, Prime Minister Sheikh Hasina sought more investment from Singapore in Bangladesh's textile, power generation, tourism, infrastructure, oil and gas exploration, high-tech industries, hotels and holiday resorts. The prime minister made the request when Singaporean High Commissioner to Bangladesh Chan Heng Wing met her at her office on June 3, 2012. 2

    Meanwhile, Prime Minister Sheikh Hasina sought more German assistance in Bangladesh's various sectors, including power, IT and health. Hasina made the plea when the outgoing German Ambassador to Bangladesh Holger Michael met her at her office on June 6, 2012. 3

    According to reports, a 10-member Bangladesh media team reached New Delhi on June 3, 2012 for a six-day trip to dispel misgivings about the adverse effects the controversial Tipaimukh Multipurpose Project would have on Bangladesh. The media team first met with India’s Water Resources Minister Pawan Kumar Bansal on June 4, 2012 and was briefed by Water Resources Secretary Dhruv Vijay Singh about the Tipaimukh project. The group then flew to Guwahati in Assam and on June 6, 2012, it left for Silchar for two days to visit the Tipaimukh site. 4
    Reports noted that Bangladesh's per capita income went up to $848 in the current fiscal year from $816 last year, but is still way short of the $1,006 needed to pull the country up to the middle-income bracket. The nation aims to reach the middle income country category by 2021, according to government's perspective plan. 5

    According to Bangladesh Bank, Inward remittances rebounded in May, rising by 6.21 percent to $1.15 billion compared to a month ago, despite an economic crisis in Europe. Inward remittances fell 2.43 percent to $1.08 billion in April, 2012. The overall growth in the first 11 months of the current fiscal year reached near 11 percent. During the 11-month period, Bangladeshi migrant workers sent home $1 billion on average a month, except September and November, according to data from the central bank. However, remittances increased by 10.89 percent to $11.77 billion in the first 11 months. 6

    Meanwhile, the gross domestic product (GDP) growth for the next fiscal year has been set at 7.2 percent expecting that trade and agriculture will continue to thrive and the global economy will turn around by 2013. The country's GDP grew by 6.7 percent in 2010-11 and the provisional estimate was set at 6.3 percent for the outgoing fiscal year. Bangladesh now targets to take the growth to 8 percent by 2014-15. 7