Commerce Minister Tipu Munshi appreciated the local electronics manufacturers for reducing billion-dollar import expenses.
“Local electronics companies including Walton have been contributing to the economy to save foreign currencies. If Walton had not started producing electronics products, Bangladesh would have had to pay billions of dollars of import bills,” Tipu Munshi said while addressing the inauguration ceremony of an electronics expo in Dhaka on Thursday.
Walton High-Tech Industries PLC is organising a three-day expo on advanced components and technology at International Convention City Bashundhara (ICCB) in the capital.
The electronics company is showcasing around 50 thousand units including industrial materials, components, testing labs in 21 stalls in 4 categories at the expo.
The expo is popularly known as ATS expo as Advance Technology Solution (ATS) department of the electronics company organises the business show.
Terming Walton an icon of the industrial sector in Bangladesh, Tipu Munshi said the company is manufacturing every product needed in the electronics sector.
“Walton is not only saving billions of dollars import costs but also contributing to the country's export income. They set a target of bagging $10 billion export earnings by 2026,” he said.
Pilipino Ambassador Leo Tito Lunar Ausan, Policy Research Institute (PRI) executive director Ahsan H. Mansur, Bangladesh Securities and Exchange Commission (BSEC) chairman Shibli Rubayat Ul Islam, Export Promotion Bureau (EPB) vice chairman AHM Ahsan, FBCCI president-elect Mahbubul Alam and DCCI president Sameer Sattar were the guests of honour on the occasion.
Walton High-Tech directors SM Mahbubul Alam and Nishat Tasnim Shuchi and Managing Director Golam Murshed were also present while senior executive director Amin Khan moderated the prorgamme.
Eminent economist Ahsan H. Mansur said that Walton has set an example for electronics manufacturers making more than 50 thousand industrial materials.
Pilipino Ambassador Leo Tito L. Ausan appreciated Walton for expanding its business globally. He invited Walton to the Philippine market.
In his speech, the BSEC chairman acknowledged that Walton has played a major role behind the rise of the electronics industry in Bangladesh.
“They have created thousands of employment opportunities in the country, especially for domestic engineers and technical persons,” he said, requesting the company to focus on innovation and research.
Newly-elected president of FBCCI Mahbubul Alam said the electronics products are now available in every village of the country.
“Business-friendly environment and 100 percent electrification were ensured across the country. Walton is the biggest proof of that. Walton is exporting their products to many countries of the world. It is a matter of pride for Bangladesh,” he said.
Walton director SM Mahbubul Alam urged the local companies to manufacture more electronics components for flourishing the domestic industry.
“If we all work together, the economic prosperity of the country will be accelerated,”
Walton Hi-Tech’s managing director Golam Murshed said.
He said that a Bangladeshi brand organised such a technology and solutions expo for the first of its kind.
“ATS Expo will highlight the potential industries of Bangladesh and the domestic industries capabilities as well. If the government's policy support and the people’s trust are maintained, Walton will take Bangladesh to a unique height in the world,” Murshed said.
The three-day expo will end on Saturday.