Diversify products, ensure quality
President Abdul Hamid yesterday urged business leaders to manufacture a more diverse range of products alongside ensuring quality to face the challenges of the fourth industrial revolution.
He made the call in a recorded video speech which was screened at "President's Industrial Development Award-2019" at Osmani Memorial Auditorium in Dhaka. A total of 19 businesses were honoured in six categories.
The president said in context to the fourth industrial revolution, the application of new technologies was increasing worldwide and industrial products manufactured in the country were facing fierce competition in international trade.
"Multifaceted concepts need to be applied in industrial production to keep pace with local and international business trends without relying on any particular product or service sector," he said.
Talking about productivity, he said, "Workers' hard effort and efficiency are essential to increase productivity…For this, an owner-worker friendly relationship is very crucial."
Hamid said employment was very important for development but it was not possible for the government alone to provide employment for the huge population. "Domestic and foreign investments are mandatory to create huge employment opportunities," he observed.
Highlighting various development plans of the government, he said the government was working to create 100 economic zones for domestic and foreign investors.
"It is aimed to create employment opportunities for 10 million people with an additional $40 billion export earnings target," he said.
Congratulating the award recipients, he urged them to be careful about protecting the environment while aiding to industrialisation.
"I hope they will turn Bangladesh into an industrialised country by engaging themselves in the trend of environmentally friendly industrialisation," said the president.
Industries Minister Nurul Majid Mahmud Humayun said the ministry was providing necessary patronage and policy support to entrepreneurs to achieve sustainable and knowledge-based industrialisation.
"Considering the changed situation of the world economy and Sustainable Development Goal (SDG) 2030 and Vision 2041, we are working to formulate a National Industrial Policy 2021," he said, highlighting various development activities of the government.
In addition, a world-class industrial database and industrial university have been set up and a planned and timely roadmap for the development of the light engineering industry was already being prepared, he added.
The awards were conferred in recognition of contributions to the private sector, employment generation and economy of the country at the initiative of the Ministry of Industries.
Of the 19 companies, the first prize was conferred on BRB Cable Industries and British American Tobacco Bangladesh jointly (large industry), Bengal Polymer Wares (medium industry), Prome Agro Food (small industry) and Masco Dairy Enterprise (micro-industry).
The same award was presented to CORR-The Loot Works (cottage industry); and Walton Hi-Tech Industries (hi-tech industry).
The award ceremony was scheduled to be held in 2020 but was postponed due to the pandemic.
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