Industrial service to be simplified to encourage investment

Industries Minister Dilip Barua today said the government wants to simplify the one-stop service in the industrial sector to encourage investment by foreign entrepreneurs and expatriate Bangladeshis.

“The one-stop service facility will be made effective by simplifying legal and procedural formalities to encourage investment by foreign entrepreneurs and expatriate Bangladeshis,” he said at the ‘national forum on City Cluster Economic Development in South Asian Countries’.

Asian Development Bank organised the programme in cooperation with the Centre for Urban Studies (CUS) and Strategic Planning and Management Services (SPMS), Australia, at a city hotel with CUS chairman Prof Nazrul Islam in the chair.

Speaking as chief guest, the industries minister said the investment policy would be geared to implement a strategy that would attract both domestic and foreign investment

Emphasising the cluster industrial zone, he said the government is going to set up Special Economic Zone in a coordinated way to ensure balanced economic activities and industrialisation throughout the country.

“We have allotted lands as well as all others facilities to set up plastic industries in Keraniganj while pharmaceuticals at Gajaria in Munshiganj.”

Dilip Barua said the government would give priority to the agro-based and labour intensive industries while highest priority would be given to information technology (IT) and knowledge-based industrial sector.

He said the development of shipbuilding and IT industries, strengthening of RMG and textile sectors and expansion of food processing, plastic, automobile, sub-contracting, ceramic, pharmaceuticals, leather, chemical products, toy, jewellery and furniture industries would be given all out support for expanding markets at home and abroad.

The Industries Minister said the government would ensure expansion of the tourism sector, increased labour export and investment of remittance received from expatriate Bangladeshis in productive sectors.

Rapid expansion of stock market, maintenance of law and order and eliminating corruption are the key areas where the government would take effective measures, he added.

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