The move to implement 100 Special Economic Zones (SEZs) in Bangladesh has created huge investment potentials in the country, said Dhaka Chamber of Commerce and Industry (DCCI) President Barrister Md. Sameer Sattar.
He said, “It is crucial to ensure necessary infrastructural and utility facilities such as gas, electricity, and transport routes with necessary compliance for effective readiness of SEZs to attract investment.”
Industries Minister Nurul Majid Mahmud Humayun said that the government is relentlessly working for the betterment of a business-friendly environment in the country.
Barrister Sattar said that to retain existing export markets and create new export destinations in the post-LDC era, “it is extremely important to take appropriate policy reform measures and ensure their implementation.”
“For our local industrial readiness after graduation from LDC, identification of the required policy gaps and reforms in existing regulations such as the SME policy 2019, Industrial Policy 2022, are essential,” he added.
According to him, for the development of CMSME, the definition of SME needs to be redefined to exclude medium enterprises, as the cottage, micro and small entrepreneurs are deprived of financial and non-financial facilities in comparison to the medium entrepreneurs.
As stated in the National Industrial Policy 2022, the industrial contribution to GDP can be increased by strengthening the light engineering sector, which mostly involves the SMEs, the DCCI chief said.
Barrister Sattar mentioned that currently, the global halal market is worth around $3 trillion and Bangladesh has a great chance to secure the global halal market by adding halal food, drinks, garments, cosmetics etc. by further strengthening the BSTI with international accreditation.
The Industries Minister requested the entrepreneurs to inform the ministry about specific problems that they are facing so that the ministry can take up the issue for solution.
Acknowledging that the country should tap the potential of the world’s halal market, the minister urged the private sector to come forward with investment.
He assured of providing all possible support to the industries from the ministry.
Industries Secretary Zakia Sultana, DCCI Senior Vice President SM Golam Faruk Alamgir (Arman), Vice President Md. Junaed Ibna Ali and members of the board of DCCI were also present during the meeting.