DHAKA: Sustaining the remittance growth has become a major challenge for Bangladesh as the development dynamics in the Middle East has been changing fast, adopting latest technologies and requiring highly skilled workers in almost all sectors.
The country needs to progressively change the country mix and increase skill level of its migrant workers to sustain its remittance growth, said Professor Imtiaz Ahmed of Dhaka University.
Since fiscal year 1999–2000, Bangladesh has received around 85 per cent of its remittance from only five countries — Saudi Arabia, the United States, United Kingdom, United Arab Emirates, and Kuwait. In the last fiscal year, these five countries accounted for more than $5 billion of the total remittance inflow of $5.98 billion.
But, recently the development dynamics in the three Middle East countries has been changing rapidly, posing a threat to Bangladesh’s manpower exports. [Read more]