The Economic Importance of the Padma Bridge
The dream of the Padma Bridge has come into reality with its construction inauguration in 2015. The 6.15 km-long bridge is a multipurpose bridge across the Padma river. With the installment of the last span of the bridge, the full structure of the bridge has been visible this month.
With this, we are on the verge of the fulfillment of the construction. When completed it will be the largest bridge in Bangladesh. After the operation, the Tk 30,193 crore bridge will contribute to our communication, economy, and industrialization.
The Economic Benefits of the Padma Bridge: Once constructed and in operation, the bridge will directly connect capital Dhaka to 21 southern districts through roads and railways.
It will not only benefit the Southern region but there will also be economic spillovers all over the country as new jobs will be created because of better connectivity between both sides of the Padma Bridge. Studies have predicted that the national GDP growth rate will increase by 1.2 percent.
It is also predicted by different sources that the poverty rate will decrease by 1.9 annually. As the lack of connectivity has left the south-western region as one of the least developed parts of the country, the people are living below the poverty line. Because of the development of both sides, poor people will be able to come out from their poverty.
A better communication network will also provide the farmers of this region to reach their crops with a short travel time from these districts to Dhaka. In this way, the farmers will be benefited. The bridge will also encourage local investors and foreign investors to invest.
As there will be investment and industrialization, more than 20 million unemployed are expected to employ. The govt will earn hundred of crores of Tk from tourism as modern cities will be built on both sides of the bridge.
It is being seen clearly that the bridge is going to bring an unprecedented boost in economic activities including farming, trade, growth of small and medium industries, tourism, export-oriented manufacturing zones, and industrial parks.
Special Economic Zones (SEPs) and industrial parks will generate job opportunities for the local population. Centering the Padma bridge there will be enormous industrialization and communication development on both sides of the bridge that will help the wheel of the economy keep improving.
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