Next industrial policy will be more business-friendly: minister
The next industrial policy to be formulated in 2021 will be more business-friendly and time-befitting, Industries Minister Nurul Mazid Mahmud Humayun yesterday said.
The current policy is based on the Industrial Policy of 1972, the minister said while he was addressing a group of businessmen at a discussion at the Westin Dhaka hotel.
Bangladesh-German Chamber of Commerce and Industry (BGCCI) organised the discussion on “Industrialisation in Bangladesh: The Next Level”.
Md Mosharraf Hussain Bhuiyan, chairman of the National Board of Revenue, said the tax administration would extend all kinds of support to the chamber to facilitate its operations and thus boosting the export and bilateral trade with the European countries.
Omar Sadat, BGCCI president, urged the minister to engage in conversation with all the chambers and business bodies to deliver a meaningful industrial policy.
Japan, South Korea, Thailand, Singapore and Malaysia had been the growth miracle of East Asia over the years, Sadat said.
“Bangladesh is also going on the right trajectory.”
The BGCCI president said Germany has now become the largest bilateral development partner of Bangladesh surpassing USA as the annual bilateral trade volume now rose to $6.9 billion in a year.
Sadat also suggested for framing the industrial policy prioritising on sectors like garments, leather and leather products, ICT, and agro- processed foods.
Highlighting the bright prospects of the country’s pharmaceuticals sector, Abdul Muktadir, managing director of Incepta Pharmaceuticals, said within the next few years Bangladesh would be exporting medicines worth billions of dollars abroad, including solely half a billion dollar per year to Germany.
He said the local pharmaceutical industries are now producing hi-tech and value-added products.
Kazi M Aminul Islam, executive chairman of Bangladesh Investment Development Authority; Golam Morshed and M Moin Uddin Mazumder, BGCCI vice-presidents also spoke.
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