Razzaque urges private sector to invest in agriculture

The private sector needs investment and cooperation to make agriculture profitable in the country, said Agriculture Minister Muhammad Abdur Razzaque.

He was speaking as the chief guest at a virtual discussion titled 'Bangabandhu's Dream: Agricultural Development of Bangladesh in the Last Five Decades' organised by the International Business Forum of Bangladesh (IBFB) yesterday.

The minister said the agriculture sector will soon be modernised and mechanised as the government has been working to the effect.

But the cooperation of the private sector is needed for the farmers to get a fair price and for adding value to the agricultural products, he said.

"The private sector does not want to invest in agriculture. There is a lot of potential in agriculture and investment is needed here," Razzaque said.

He said the present government is encouraging and cooperating with the private sector in research and investment to make agriculture profitable.

This government has provided 20 per cent incentives to increase exports of agricultural processing and agricultural products, the minister said.

He also called upon the private sector to make full use of this opportunity and assured them of providing more facilities if required.