Until recently, ferries were the only means of communication and transportation along Padma river. This isn’t at all seamless; it takes a lot of time and is also rife with uncertainty.
A lot of advantages would result from the Padma Bridge connecting Bangladesh’s southern districts with its economic lifeline, notably the economic corridor between Dhaka and Chattogram. First off, the kinds of economic operations that were previously impractical in our southern districts due to a lack of connectivity now have a chance to happen.
Expansion of Garments Industry
We are aware that the southern districts have not seen much industrialization, which is why poverty is a major problem there. This area is also greatly impacted by climate change; for instance, the region’s increased susceptibility to flooding and rising water salinity are both detrimental to agricultural productivity.
Many garments manufacturer and investors who were previously unwilling to invest here will now be eager to do so as these districts become better connected as a result of the Padma Bridge and communication becomes simpler. That will help our entire economy—not just the southern districts—create jobs, improve the economy, and enable development.
High transaction costs, high transportation expenses, and a lack of a bridge are all problems. As a result, there was little investment made in these areas to boost the agricultural sector, the industrial sector, or even the service sector. Additionally, foreign investors did not feel encouraged to invest in these areas. As a result, these areas continued to contribute little to the national economy.
Additionally, a large number of people have left these regions.
The lack of economic activity, unquestionably climate change, as well as the issue of migration prompted by the climate have all contributed to the poor being poorer. These migrants have reportedly relocated to Dhaka, Chattogram, and other northern regions.
We don’t observe the presence of the industries we are aware of in the southern districts, including the ready-made clothing sector and other significant ones that have grown over time. Because they have noticed that there are numerous obstacles in the way of their investments in these areas. Basically, connectivity is the main issue. Additionally, there are additional issues that I think we should pay more attention to in the days ahead.
With the emergence of Padma Bridge, the connectivity issues can have a major solution and garments industry will grow in the southern districts as well, which will help eradicate poverty and provide more job scopes for the people out there.
Impact of Padma Bridge in the Garments Industry
The country’s largest export-earning industry, the textile and garment sector, will benefit from the bridge. The inauguration of the Padma Bridge would facilitate business and aid Bangladesh’s export-oriented sector in reducing lead time at a time when the country is having difficulty getting its goods to the ports in time to meet the lead time.
The countrymen, primarily in the southern-western regions, will have greater possibilities and opportunities after the Padma Bridge is opened for vehicular traffic. As it will cut to connect the southern districts with Dhaka, Chattogram ports, and other districts, business connectivity and activities would be more seamless.
It would boost the country’s Gross Domestic Product (GDP) by 1.5 to 2 percent, according to the country’s eminent economists and specialists.
Bangladesh’s export-oriented sector, particularly the textile and garment industry, which is the backbone of the economy and a major source of foreign exchange earnings, will benefit from being an export-led economy because it will take less time to transport goods to ports.
Additionally, improved transportation will open up new economic prospects for the industrial and agricultural sectors. For both domestic and international investors, this will establish a new investment centre. The southern section will consequently develop into an industrial area.
- If the bridge is opened, it will make it easier and faster for the textile manufacturers in the Mongla Export Processing Zone to carry their products to Chittagong.
- With the current setup, they must transport products by river and occasionally by road, which takes longer owing to traffic at Maowa ferry Ghat. Due to the convenience of shipping via Padma Bridge, exporters will have the opportunity to draw in more work orders from the clients, as lead times are highly important for garment exporters.
- In addition to aiding exports, the bridge will make it easier for thousands of garment employees to travel to their homes in southern regions because it will save travel time.
- The Padma Bridge will make it easier to conduct business with nearby nations including India, Nepal, and Bhutan. Since India is a sizable market for Bangladesh with a sizable population, the ability of clothing manufacturers to move goods there by road transportation will aid in growing exports to the South Asian region.
For a variety of reasons, the Padma Bridge is a marvel of the world. It will be able to significantly alter the nation’s economic dynamics. Leading economists and businessmen in the nation have referred to the bridge as a “game changer” for the economy.
Our nation’s confidence is represented by the Padma Bridge, which is not only a vital transportation route but also an important economic one.
The country’s overall poverty index will drop after the Padma Bridge opens. As garments industry can significantly expand to the southwest region, we can expect that the income of the populace will rise. Bangladesh will have international connections with India, Bhutan, and Nepal thanks to the bridge’s commercial viability, and export the garments more effectively. Employment will rise, and investment will too. On both sides of the Padma Bridge, various structures will be constructed. As a result, the human development index will advance significantly.
Thus Padma Bridge plays a great role in boosting the garments industry of our country. By ensuring connectivity and efficiency, it can help the industry and the garments workers to a great extent too. The impact of the bridge is hence undeniable when it comes to garments and apparel industry.