Agro industries hold the key to economic recovery
Utilising artificial intelligence and skilled manpower in Bangladesh's agro-based industry will be vital for ensuring a speedy economic recovery and food security during the post-pandemic era, according to experts.
Besides, both public and private sector investment is required to expand agricultural production in the country, they added.
During Eid-ul-Azha, held at the end of July this year, people used digital platforms to make purchases from home in a bid to avoid being exposed to the rogue pathogen while the amount of inbound remittance sent through the official channels increased as well, said Ahmad Kaikaus, principal secretary of the Prime Minister's Office (PMO).
Kaikaus made the comments during a webinar styled 'Post COVID 19: Challenges & Opportunities for Entrepreneurship and Employment in Agro-based Industry', jointly organised by the Bangladesh Investment Development Authority (BIDA) and France Bangladesh Chamber of Commerce and Industry (CCIFB) last Saturday.
The government is set to implement a credit guarantee scheme for the agro-based industry, including aquaculture and livestock companies, to promote entrepreneurship in the sector and help small and medium enterprises meet their credit needs, Kaikaus said.
As part of the government's move to ramp up agricultural production, the prime minister previously approved a special program for the food processing sector so that agro-based industries make a greater contribution to economic growth, employment and export.
Bangladesh welcomes international collaboration, including foreign investment, for the research and development of its agro-based production and processing sectors, Kaikaus said, adding that the government believes in balanced trade cooperation between countries.
Meanwhile, BIDA Executive Chairman Md. Sirazul Islam reiterated his organisation's commitment to work alongside the various stakeholders of the agro-based industry to increase investment and employment in the sector.
BIDA will conduct policy dialogues, formulate action plans and facilitate the agro-industrial transformation in coordination with key stakeholders in both the government and private sector, he said.
In this regard, a high-level committee, headed by the PMO and coordinated by BIDA may be formed to advise on the development of agro-based production, processing, value addition and marketing, Islam added.
Ever since Bangladesh achieved independence, agriculture has played the most significant role in providing food security, creating jobs, generating income and reducing poverty in the country, said CCIFB President Syed Mahmudul Huq.
Currently, the agriculture industry accounts for about 13 per cent of the annual GDP while its share in employment generation is nearly 40 per cent, indicating very low levels of productivity in the sector.
"The pandemic has further aggravated the situation by forcing workers who lost their jobs overseas or in the cities to return to rural areas."
Whenever crisis strikes, as is the current issue, the country returns to agriculture for both food and job security, Huq added.
During the webinar, AKM Hafizullah Khan, project director for BIDA's Entrepreneurship & Skill Development Project, provided an overview of BIDA's initiatives to promote employment and entrepreneurship.
The organisation would like to carry out training programmes on regulatory regimes and business procedures to create skilled entrepreneurs across all 64 districts of the country within the next two years in a bid to achieve the government's target of bringing up private investments to 34 per cent of the annual GDP, he added.
Sattar Mandal, an emeritus professor of Bangladesh Agriculture University, led discussions on the agro-based industry's broader role for the economy at the event.
He also spoke on the challenges to be faced by people looking to grab entrepreneurship or employment opportunities in the post-pandemic period.
Fawzia Yasmeen, director of Ispahani Agro, called for the creation of an enabling environment for investments in digital or smart agriculture, internet-plus rural infrastructure and communication to boost knowledge intensity and efficiency in production and processing.
FH Ansarey, managing director and chief executive officer of ACI's agribusiness, underscored the need to strengthen the link between primary production, agro-processing and delivery of social, financial and technical services in rural areas.
Job opportunities in the sector should have a balanced mix so that the modernisation of the sector goes hand in hand with employment generation, Moshiur Rahman, managing director of Paragon Group.
Md Saleh Ahmed, chairman of the KERNEL Foundation, and Shah Syed Kamal, chairman of the policy and advocacy sub-committee of CCIFB, spoke among others.