When Bangladesh emerged as an independent nation in 1971, global expectations for its economic future were extremely low. The country faced war-ravaged infrastructure, fears of famine, and a fragile aid-dependent economy. At the time, a U.S. diplomat famously labeled Bangladesh a “bottomless basket,” suggesting it had little chance of sustainable progress. History, however, proved that prediction wrong.
Today, Bangladesh stands as one of South Asia’s fastest-growing economies. Institutions such as the World Bank, IMF, The Economist, and Financial Times have described the country’s rise as a remarkable development success story. At the center of much of this transformation was Sheikh Hasina, who served four terms as prime minister and oversaw major economic and infrastructure expansion.
Under her leadership, Bangladesh launched several landmark mega projects, including the self-financed 6.15-kilometer Padma Bridge, Dhaka’s first metro rail system (MRT-6), the 2,400-megawatt Rooppur Nuclear Power Plant, the Karnaphuli Tunnel in Chattogram, Payra Deep Sea Port, the third terminal of Hazrat Shahjalal International Airport, the Matarbari power and deep-sea port project, and more than 100 Special Economic Zones across the country. Other major initiatives included the Jamuna Railway Bridge, Bangabandhu Satellite, Hatirjheel Project, Purbachal Expressway, and the Padma Bridge rail link.
Sheikh Hasina’s first term in office beginning in 1996 laid much of the foundation for future development. Her government signed the historic 30-year Ganges Water Sharing Treaty with India, completed the Bangabandhu Bridge over the Jamuna River, and ended decades of armed conflict in the Chittagong Hill Tracts through a peace accord. Her administration also liberalized the telecommunications sector, paving the way for Bangladesh’s mobile communication revolution.
The industrial policy introduced in 1999 encouraged foreign direct investment and strengthened the private sector’s role in the economy. During this period, Bangladesh also made significant progress toward food self-sufficiency.
After returning to power in 2009, Sheikh Hasina’s government launched “Vision 2021,” aiming to transform Bangladesh into a middle-income country by 2021. Not only was that goal achieved, but in several areas the country surpassed expectations.
Bangladesh maintained GDP growth rates averaging above 6.5 to 7 percent for much of this period. Even during the COVID-19 pandemic in 2020, when many economies contracted, Bangladesh remained among the few Asian countries to record positive growth.
The Padma Bridge became more than just an engineering achievement — it emerged as a symbol of national confidence. When the World Bank withdrew funding over corruption allegations, many doubted the bridge would ever be built. Sheikh Hasina insisted Bangladesh would finance the project itself. Despite criticism and skepticism, the bridge officially opened in June 2022, transforming transportation and economic activity for nearly 30 million people in the country’s southwest region.
Dhaka’s chronic traffic congestion had long been a major economic burden. The launch of the metro rail system in December 2022 marked a turning point for the capital’s transportation system, reducing travel time and improving urban mobility. Future expansion plans aim to create a modern mass transit network across the city.
Bangladesh also made major progress in electricity generation. In 2009, only about 47 percent of the population had access to electricity, and power outages were routine. Over the following years, electricity production expanded dramatically through projects such as the Payra Thermal Power Plant, Rooppur Nuclear Plant, and nationwide solar energy initiatives. Today, nearly all households have electricity access.
The government also gained recognition for social development programs. Child mortality rates fell significantly, maternal healthcare improved, primary school enrollment reached near-universal levels, and scholarship programs encouraged girls’ education. Women’s participation in the workforce increased substantially, especially in the garment industry.
Remittances from overseas workers and the ready-made garment sector became major pillars of the economy. Bangladesh rose to become the world’s second-largest garment exporter, generating more than $50 billion annually in export earnings. Following the Rana Plaza disaster, the government introduced factory safety reforms, wage increases, and environmentally sustainable “green factory” initiatives that improved the sector’s global reputation.
Women’s empowerment became another major focus during Sheikh Hasina’s leadership. Millions of women entered the workforce through the garment industry, female entrepreneurship expanded, and women’s participation in politics and administration increased significantly. Bangladesh eventually ranked among the top countries in South Asia for gender equality indicators.
The slogan “Digital Bangladesh,” first introduced in the Awami League’s 2008 election manifesto, also reshaped the country’s technological landscape. Digital service centers spread to rural areas, mobile banking expanded rapidly, and freelancing and e-commerce created new economic opportunities for young people across the country.
However, Sheikh Hasina’s long tenure in power also attracted strong criticism. Opponents raised concerns over corruption, cost overruns in mega projects, political favoritism, inequality, inflation, banking sector irregularities, and weakening democratic institutions. Critics argued that while economic growth was significant, its benefits were not distributed equally among all citizens.
Some economists also questioned official growth statistics. Yet many observers agree that Bangladesh’s overall living standards, healthcare access, education, infrastructure, and economic opportunities improved substantially during her leadership.
Following the political changes of August 2024, debate over Sheikh Hasina’s legacy intensified. Supporters point to infrastructure modernization, poverty reduction, and Bangladesh’s integration into global supply chains. Critics focus on concerns over democracy, institutional integrity, and human rights.
As with most political leaders in history, Sheikh Hasina’s legacy remains both praised and contested. But few analysts dispute her central role in Bangladesh’s economic transformation. From the Padma Bridge to the metro rail system, from garment exports to digital connectivity, her influence on Bangladesh’s development journey remains deeply embedded in the country’s modern history.
