The Way Forward: A New Vision for the Future

Transparency, fair competition and accountability are three defining features of an efficient public procurement system. Until 2011, the Bangladesh procurement process was paper-based and plagued by corruption and malpractices. Short bidding periods, nondisclosure of the selection criteria, pre-tender negotiation with bidders were some of the defining features of guiding Bangladesh’s public procurement activities.

New Zealand is being lauded for introducing the world’s first Wellbeing Budget, which aims to shift the focus from GDP toward the “wellbeing of people.” Those with a grudge against the GDP indicator – in particular greens, who blame economic growth for harming the environment – see this as an exciting new opportunity to stop chasing dollars and start caring about people.

Bangladesh has big plans for the next five years. By the time the 50th anniversary of independence arrives, and as part of its Vision 2021 plan, the nation aspires to achieve middle-income status. Along with the economic aim, other ambitious goals include slashing poverty drastically, safeguarding basic rights for all citizens, ensuring ubiquitous access to adequate nutrition, clothing, housing, and health care - and doing it all while protecting the environment.