Business Desk :
The upcoming industrial policy will set a target to increase the industrial sector’s economic contribution from the existing 35 per cent to 40 per cent of the country’s gross domestic product, according to a draft industrial policy.
The new policy is expected to focus on the IT sector in order to help industries improve their efficiency and productivity, it said.
“There is no alternative to creating skilled human resources in the industrial sector to build an industrialised country,” Industries Minister Nurul Majid Mahmud Humayun said during a virtual stakeholder workshop on Industrial Policy 2021, organised by the industries ministry on Monday.
Over the past three decades, the industrial sector’s contributions have increased due to the expansion of export-oriented industries, particularly garments.
The share of the industrial sector was 25 per cent in fiscal 2005-06, data from the Bangladesh Bureau of Statistics shows.
Humayun said the highest emphasis has to be given on skills development in the upcoming industrial policy in order to prepare for the fourth industrial revolution.
In order to increase productivity in the industrial sector, it is necessary to involve more people by increasing the use of modern technology and creating skilled human resources, he added.
Ever since the country achieved independence, a total of nine national industrial policies have been formulated with the latest coming in 2016.
The upcoming policy, which will be valid until 2025, will give priority to the small and medium enterprises in order to generate huge employment opportunities and ensure higher growth.
State Minister for Industries Kamal Ahmed Mojumder said there is a lack of skilled technicians for higher production.
“We need to build up skilled technicians and we have to address the workers’ benefit,” he said.
Mojumder also suggested giving priority on light-engineering so that the discrimination between imported and local machinery decreases.
The case of investment abroad by local entrepreneurs will be given priority in the industrial policy, he added.
Considering the issue of environmental conservation, the industrial policy will be formulated by ensuring the establishment of industrial factories in designated areas.
While addressing the workshop, Matiur Rahman, chairman of Uttara Motors, suggested including local vendors’ issues to help develop local components for the automobile industry.
He demanded a separate policy so that local vendors can build their production capacity.
“If a separate policy is developed, the local vendors will be able to manufacture a number of local components for the automobile industry,” Rahman said.
Hafizur Rahman Khan, chairman of Runner Automobiles, said Bangladesh has the potential to improve its automobile industry as the market is moving to Asia.
He suggested giving priority to the automobile policy in the national industrial policy 2021.
Ferdaus Ara Begum, chief executive of the Business Initiative Leading Development, said the cost of doing business in Bangladesh is increasing day by day due to the hiking of logistic cost.
So, the logistic sector should be incorporated in the policy to reduce the cost of doing business, he added.
Md Mafizur Rahman, managing director of the SME Foundation, urged the government to incorporate the informal sector in the industrial policy to address the problem.
The upcoming industrial policy will set a target to increase the industrial sector’s economic contribution from the existing 35 per cent to 40 per cent of the country’s gross domestic product, according to a draft industrial policy.
The new policy is expected to focus on the IT sector in order to help industries improve their efficiency and productivity, it said.
“There is no alternative to creating skilled human resources in the industrial sector to build an industrialised country,” Industries Minister Nurul Majid Mahmud Humayun said during a virtual stakeholder workshop on Industrial Policy 2021, organised by the industries ministry on Monday.
Over the past three decades, the industrial sector’s contributions have increased due to the expansion of export-oriented industries, particularly garments.
The share of the industrial sector was 25 per cent in fiscal 2005-06, data from the Bangladesh Bureau of Statistics shows.
Humayun said the highest emphasis has to be given on skills development in the upcoming industrial policy in order to prepare for the fourth industrial revolution.
In order to increase productivity in the industrial sector, it is necessary to involve more people by increasing the use of modern technology and creating skilled human resources, he added.
Ever since the country achieved independence, a total of nine national industrial policies have been formulated with the latest coming in 2016.
The upcoming policy, which will be valid until 2025, will give priority to the small and medium enterprises in order to generate huge employment opportunities and ensure higher growth.
State Minister for Industries Kamal Ahmed Mojumder said there is a lack of skilled technicians for higher production.
“We need to build up skilled technicians and we have to address the workers’ benefit,” he said.
Mojumder also suggested giving priority on light-engineering so that the discrimination between imported and local machinery decreases.
The case of investment abroad by local entrepreneurs will be given priority in the industrial policy, he added.
Considering the issue of environmental conservation, the industrial policy will be formulated by ensuring the establishment of industrial factories in designated areas.
While addressing the workshop, Matiur Rahman, chairman of Uttara Motors, suggested including local vendors’ issues to help develop local components for the automobile industry.
He demanded a separate policy so that local vendors can build their production capacity.
“If a separate policy is developed, the local vendors will be able to manufacture a number of local components for the automobile industry,” Rahman said.
Hafizur Rahman Khan, chairman of Runner Automobiles, said Bangladesh has the potential to improve its automobile industry as the market is moving to Asia.
He suggested giving priority to the automobile policy in the national industrial policy 2021.
Ferdaus Ara Begum, chief executive of the Business Initiative Leading Development, said the cost of doing business in Bangladesh is increasing day by day due to the hiking of logistic cost.
So, the logistic sector should be incorporated in the policy to reduce the cost of doing business, he added.
Md Mafizur Rahman, managing director of the SME Foundation, urged the government to incorporate the informal sector in the industrial policy to address the problem.
