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This study argues that some of the policies that allowed Bangladesh to prosper in the last few years will become less effective, and the economy will need to "switch gears" to consolidate the growth momentum over the medium term. The study finds that the most critical constraints to growth are (i) insufficient reliable energy supply, (ii) policies that indirectly stunt development of economic activities unrelated to ready-made garment exports, and (iii) insufficient security about property and land rights due in part to inadequate registry systems. If policies are designed to urgently tackle these constraints, Bangladesh will be free to harness its potential for inclusive and sustainable growth.