Build a knowledge-based economy: BIDA chief | 2019-01-21

Build a knowledge-based economy: BIDA chief

Staff Correspondent

21 January, 2019 12:00 AM printer

Build a knowledge-based
economy: BIDA chief

Bangladesh needs to transform its economy from a labor-intensive into a knowledge-based one with a view to achieving the visions set by the government, said Bangladesh Investment Development Authority (BIDA) Executive Chairman M Aminul Islam.

The BIDA chairman made the observation while speaking at a programme on launching two new technologies of BNO Lubricants at a city hotel on Sunday.

Presided over by Managing Director of Luff-reff (Bangladesh) Mohammed Yousuf, the programme was also addressed among others by Swedish Ambassador to Bangladesh Charlotta Schlyte and BUET Professor, Chemical Engineering Department, Dr. Ijaz Hossain.

Mentioning the revolution in power generation during the last ten years, BIDA chairman said that electricity generation of the country has reached 20,000 megawatts that create huge demand of energy related products with the expansion of economy.

“Bangladesh has registered a steady growth in last few years. Bangladesh will be a developed country by 2041. In reaching the developed country status, we need billion dollars investment in infrastructure,” said Kazi M. Aminul Islam.

But the investment should be in such way, where there will be less impact on environment, said Aminul.

Praising the growth of local company Lub-rref (Bangladesh), he said this local company brought new technology in the lubricant and transformer oil, which is environment friendly.

“Considering the users benefits, we have introduced Nano technology as it is more efficient, improves engine performance, reduces fuel consumption up to 5  percent, which lowers fuel costs,” said Mohammed Yousuf Managing Director of Lub-rref (Bangladesh) Ltd.

BNO Lubricants, a product of Lub-rref (Bangladesh) Ltd, for the first time has introduced two new technology--Nynas technology in transformer oil and Nano technology in lubricant considering environmental issue and longevity of engine.

Nano technology in lubricant is aimed at attaining fuel efficiency, more power, enhance life time and reduce emission in the lubrication system and improve engine performance. While, the Nynas technology based transformer oil is basically wax-free and has a good flowing feature under low temperature and good heat distribution oil. It is well known for its environment friendly feature.

Nynas based Transformer Oil Technology is from Sweden and Nano Technology in Engine Oil from Finland for Power, Automobile and Manufacturing Industry.