Business Desk :
Business Initiative Leading Development (BUILD) and the Ministry of Commerce jointly organized a validation workshop to finalize the Export Roadmaps on Plastic and Light Engineering Sectors on January 18.
Tapan Kanti Ghosh, senior secretary of the Ministry of Commerce attended the meeting as the chief guest.
Held in Export Competitiveness for Jobs (EC4J) Project office, Build shared two presentations on Export Roadmaps on Plastic and Light Engineering Sectors respectively, reads a press release. Senior secretary of the Ministry of Commerce endorsed the projection of Build for the plastic sector roadmap to be the 40th largest exporter by 2030. In order to meet the target, he asked the stakeholders regarding the needs to support since the Government is keen to see higher export growth through relevant policy interventions. He also directed relevant agencies to accomplish their tasks outlined in the action plan ahead of the deadline. Tapan Kanti Ghosh, senior secretary of Commerce mentioned that Viet Nam could enhance its light engineering and bicycle export because they secured significant FDI. After 2026 when Bangladesh will graduate from LDC status, the government will not extend cash subsidy but provide support in the forms of research, knowledge, logistics, and so on. Bangladesh needs to shift its product concentration to sectors like light engineering so that it can gradually move upwards in its industrialization pathway. As Bangladesh will upgrade from being the 43rd largest economy to 25-26th economy in 2030, greater FDI may be attracted and the ease of doing business may be gradually improved.
