Product diversification, skill development, policy reforms, facilitating import substitute industry, redefine SME, participation of women entrepreneurs are some of the key areas, the industrial policy should focus to compete in the international market even after the LDC graduation.
Speakers shed light upon the said at the webinar on “Private Sector Expectation in the Proposed National Industrial Policy-2021” on Sunday
Dhaka Chamber of Commerce & Industry (DCCI) organised the webinar.
Industries Minister Nurul Majid Mahmud Humayun, and State Minister for Industries Kamal Ahmed Mojumder, joined the webinar as the chief guest and special guest respectively.
Nurul Majid Mahmud Humayun, MP, Minister for Industries said we will be able to reach 40% contribution of industry to GDP. This government is industry-friendly and before formulation of industrial policy we did consultation with the private sector. Coordinated efforts needed to implement one stop service of BIDA.
“Moreover, coordinative efforts of public-private sector to create employment opportunities, establishing skilled backward and forward linkage industry, expansion of domestic industry. Government is planning to create skilled human resources in the ICT sector of Bangladesh to curb the benefits of 4th industrial revolution”, Minister added.
DCCI President Rizwan Rahman in his opening remarks urged for redefining the definition of SMEs to ensure adequate access to finance and policy support to the small and cottage industries.
He suggested that, Bangladesh can follow example of Vietnam to prepare a comprehensive industrial policy.
“Research and development, innovation and e-commerce can play a vital role in future and government should address these sectors properly in the policy. After LDC graduation Bangladesh will have to face competition in the global export market due to lack of product diversification. In this regard, signing FTA with potential countries and enhancing trade negotiation skills of the country are very crucial” DCCI leader opine.
State Minister for Industries Kamal Ahmed Mojumder, said protection of domestic industry, product quality, increase productivity, IPR management, proper definition of SME, setup cluster based industrial park, sustainable industrialization and necessary policy reforms & infrastructure development will be considered for the next industrial policy as these are key to boost local and foreign investment in the country.
Md. Salim Ullah, Senior Assistant Secretary (Policy), Ministry of Industries presented the keynote paper. He said that we need to take measures for import-substitute industrial development.
Husne Ara Shikha, General Manager, SMESPD, Bangladesh Bank said there should be specific definitions of cluster and startup included in the industrial policy. Manufacturing and service sector are already included in the Industrial policy but Trading is not included. Micro merchants should also be included in service industry sector.
Manwar Hossain, Group Managing Director, Anwar Group of Industries said policy should have a focus not only on overall industry but every individual industrialist or manufacturer. Stability of policies is very much needed to progress, he said.