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Bengali Govt Making Effort to Raise Industry’s Share in Economy
Source: theindependent-bd.com
Source Date: Thursday, July 22, 2010
Focus: Knowledge Management in Government
Country: Bangladesh
Created: Jul 25, 2010

Prime Minister Sheikh Hasina told Parliament on Wednesday that the government is working on upgrading Bangladesh to a middle-income country by raising contribution of its industrial sector in the national economy up to 40 per cent from the existing 28 per cent.

"The proposed industrial policy has reflected the target," she said, adding that it would be possible to reach the ultimate target of turning the country into an industrial state through maintaining continuation after attaining the target of the industrial policy.

Hasina said this while replying to a query from treasury bench lawmaker Md Tajul Islam.

"The country's industrial and investment policies were liberalised to open new investment avenues through creating a sound environment for entrepreneurs to further develop the industrial sector in light of the proposed Industrial Policy 2010," she said.

Under the proposed industrial policy, there will be a package of import duty on capital machineries based on advantaged and disadvantaged areas for ensuring balanced development of the country, she said.

To encourage Non-Resident Bangladeshis to invest in the country, their investments would be considered as foreign investments, she said.

Hasina said the government is determined to ensure industrial development for building a Sonar Bangla as dreamt by Bangabandhu. She said measures would be taken for creating massive infrastructure facilities including setting up economic zone at industrially disadvantaged areas of the country like greater Rangpur, Dinajpur and Rajshahi districts and incentives would be given to those areas.

The government would take all steps for further development of human resources and ensuring proper utilization of technology, she said. The Prime Minister said the present government has taken initiatives for turning Bangladesh into an industrialized country by gradually upgrading its present agriculture-based economy.

The growth of agriculture sector would also continue through utilizing the modern technology, she said. "No country can become industrialised by only depending on agriculture."

Replying to a supplementary from Md Tajul Islam, the Leader of the House said the private sector has been inspired for making investment at various sectors like television, telephone, air lines.

Replying to another query from treasury bench lawmaker M Abdul Latif, she said various facilities and incentives have been ensured for foreign entrepreneurs to attract foreign investment in the country. The foreign entrepreneurs do not face any problem for VISA, she said.

"But we have to proceed cautiously as militancy has been raised during the BNP-Jamaat regime," she said.

She said during the Awami League rule after 1996, many foreign investors invested in the country, which came down during the subsequent BNP-Jamaat government.

In reply to another query from Hafiz Uddin Ahmed, she said the government has taken various initiatives for overall development of the disadvantaged northern Bangladesh. "We have started Bara Pukuria coal power project," she said.

The Bangabandhu Bridge over river Jamuna, many roads and bridges were constructed, she said, adding that the present government started construction of a bridge over the Teesta.
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