Infrastructure should be ready to make economic zones attractive: DCCI
The government should ensure necessary infrastructural and utility facilities to ready economic zones and draw investments, said the Dhaka Chamber of Commerce & Industry (DCCI) yesterday.
"The move of implementing 100 economic zones has created huge investment potential. It is crucial to ensure necessary infrastructural and utility facilities such as gas and electricity and transport routes with necessary compliance for effective readiness of economic zones to attract investments," said DCCI President Md Sameer Sattar.
He made the comments during a meeting with Industries Minister Nurul Majid Mahmud Humayun at the latter's office in Dhaka on Tuesday, according to a press release.
Sattar said it is extremely important to take appropriate policy reform measures and ensure their implementation to retain the existing export market and create new export destinations in the post-LDC (least-developed country) graduation era.
"For the readiness of local industries after graduation, the identification of required policy gaps and reforms in existing regulations such as the SME Policy 2019 and Industrial Policy 2022 is essential."
For the development of cottage, micro, small and medium enterprises (CMSMEs), the definition of SME needs to be redefined to exclude medium enterprises, as cottage, micro and small entrepreneurs are deprived of financial and non-financial facilities compared to their medium counterparts.
The National Industrial Policy 2022 said the industry contribution to GDP can be increased by strengthening the 'Light Engineering' sector, which mainly involves SMEs.
Furthermore, prompt implementation of the proposed 10 light engineering industrial parks in five districts -- Dhaka, Narayanganj, Mymensingh, Narsingdi and Jashore -- with necessary infrastructure is required to strengthen the backward linkage industries.
Sattar said currently, the global halal market is around $3 trillion and Bangladesh has a great chance to secure the global halal market by adding halal food, drinks, garments and cosmetics and by strengthening the Bangladesh Standards and Testing Institution with international accreditation.
"We should tap the potential of the global halal market," said Nurul Majid Mahmud Humayun in the press release.
For that to happen, he called upon the private sector to come forward with investments. He also assured to provide all possible support to industries from his ministry.
The industries minister said that the government is relentlessly working for the betterment of a business-friendly environment.
He urged entrepreneurs to inform the industries ministry about the specific problems that they are facing so that it can take up the issue and resolve it.
Industries Secretary Zakia Sultana, DCCI Senior Vice-president SM Golam Faruk Alamgir and Vice-president Md Junaed Ibna Ali were also present during the meeting.