Leading US business magazine Bloomberg Businessweek identified Bangladesh as one the world's emerging economies to attract foreign investments being one of the "late bloomers".
"It (Bangladesh) is one of the world's top garment makers, supplying H&M and Zara . . . Its bank sector is also booming," wrote the new York- based business weekly in a lead article titled "Investing in Frontier Emerging Markets: Your next money-making opportunity is in the last place you'd think to look".
The article noted the country's past five years of GDP growth at 27 percent and YTD market growth at 64.6 percent against its population of 156 million to justify its observation as an emerging economy for the investors along with several other countries."From Peru to Ghana to Bangladesh, astute (smart) invests are taking a chance on the next wave of emerging nations as the international Monitory Fund expects frontier markets to grow at nearly three times the average rate at developed world," read the article Roben Farzad is a senior writer for Bloomberg Businessweek.
He writes for The New York Times, Boston Globe, and The Wall Street Journal and appears on NPR, CNBC, PBS, CNN, and the BBC News.
Farzad said in the span of two decades, Peru has graduated from near- failed-state status to a stable democracy with an investment-grade credit rating and some of the most consistent economic growth in the world.
Its unlikely comeback is just one case study in the booming frontier, the extreme edge of emerging-market investing:
Pakistan, Ghana, Egypt, Bahrain, Lebanon, Cyprus and Kenya.
In 2005, Goldman Sachs (GS), having already coined the term "BRIC" to refer to Brazil, Russia, India and China, introduced the "Next 11" (N-11), positing that Bangladesh, Egypt, Indonesia, Iran, Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey, and Vietnam were poised to rival the G- 7 in economic influence in the 21st century.
"The astute investor is now zeroing in on the next wave of developing nations - the late bloomers, the ones that have been flying under the radar screen," he wrote quoting Jerry Haar, an associate dean of the business school at Florida International University in Miami.
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