Women have potential to contribute more to economy

Women have more potential to contribute to the national economy if their unpaid household and other associated works are considered, said Social Welfare Minister Dipu Moni today.

Currently, women contribute around 20 percent to the nation's GDP, she said.

Moreover, there is a pressing need to enhance the financial literacy of women, especially those belonging to lower-income segments, to facilitate their greater financial inclusion.

Dipu Moni made the comments at a seminar titled "Invest in Women: Accelerate Progress", organised by the American Chamber of Commerce (AmCham) in Bangladesh at The Westin Dhaka.

Recognising the contribution that women play in household financial decision-making processes and ensuring their agency and control over their incomes are indispensable steps towards achieving genuine financial empowerment for women throughout Bangladesh, the minister added.

In Bangladesh, investing in women has become a moral imperative and a strategic policy decision with far-reaching implications across socio-economic, technological and political spheres.

This commitment extends beyond gender-specific initiatives, influencing broader societal norms, fostering international collaboration, and contributing significantly to advancing global gender equality objectives.

"By providing women with equal opportunities in education, employment and leadership roles, we unlock their full potential as contributors to the economy and society," she said.

"Empowering women enhances productivity and innovation, increasing economic output and competitiveness."

AmCham President Syed Ershad Ahmed said female education in Bangladesh has experienced a profound transformation, shifting from restricted access to widespread enrolment.

Recent data shows a significant increase in female literacy, now at 72.82 percent, closely following male literacy rates.

"Women's workforce participation has risen from 36 percent to 43 percent, reflecting significant progress," he said.

As per the findings of the "Global Gender Gap Report 2023", released by the World Economic Forum, Bangladesh was in the top position among South Asian nations in terms of gender parity and 59th globally.

Despite the acknowledged advancements, there are areas that still require enhancement to uplift women's status further.

The onset of the Covid-19 pandemic, coupled with climate-related challenges, inflation, and other global issues hindered the advancement of women's empowerment and gender equity.