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National Industrial Policy-2016: Opportunities of Industrialization and Investment in Bangladesh
24 Oct 2016

Dhaka Chamber of Commerce & Industry (DCCI) organized a seminar on “National Industrial Policy-2016: Opportunities of Industrialisation and Investment in Bangladesh" on 24th September 2016, 3:00 pm at DCCI Auditorium. Mr. Amir Hossain Amu, Honorable Minister, Ministry of Industries, Government of the People’s Republic of Bangladesh graced the occasion as the Chief Guest.

Mr. Nabhash Chandra MandalExecutive Member of BIDA, Dr Ashikur Rahman Senior Economist of Policy Research Institute and Ms. Yasmin Sultana Joint Secretary of the Ministry of Industries attended the seminar as the designated discussants. Dr. Muhammad Ismail Hossain Associate Professor of Dhaka University presented the keynote paper at the seminar. Mr. Monoj Kumar Roy Additional Secretary of Ministry of Commerce, Mr. R Maksud Khanformer President of DCCI , Mr. Aftab-ul Islam former President of DCCI, Mr Alhaj Abdus Salam former Vice President of DCCI, Mr. Kh. Shahidul Islam former Vice President of DCCI, Mr. Khairul Majid Mahmud former Director of DCCI,   Mr. AKD Khair Mohammad Khan Director of DCCI, Mr. Salim Akhtar Khan Director of DCCI, Mr.  MS Siddiqui, among others, participated in the open discussion. Mr. Sameer Sattar Director of DCCI moderated the open discussion session. Mr. K. Atique E Rabbani Vice President of DCCI gave Vote of Thanks. 

 

The following Recommendations have emerged in the Seminar:

 

Immediate Recommendations:

1.       Formulate enforceable policy and action plans for solving nagging industrial energy crisis and improving infrastructure & physical connectivity focusing on Economic Zones and Industrial Clusters.

2.       Formulate a national innovation cell to encourage new innovations and facilitate start-up with the view to developing sustainable new industrial ventures.

3.       Strengthen and intensify coordination among related ministries, stakeholders, trade bodies and chamber for the implementation of the policy.

 

Mid-term Recommendations:

4.       Striking an appropriate balance of bilateral and pluralist trade and investment opportunities/Free Trade Agreement harmonizing the strategic objective of Ministry of Industries and Ministry of Commerce.

5.       Targeted interventions and adequate insensitive package need to be developed with the view to facilitate High Priority and Priority industries as identified in the Industrial Policy.

6.       Industry specific focused skill development program in order to ensure availability of skilled human resources and productivity.

7.       Formulate action plans with the view to improve the position of Bangladesh in “Global Competitiveness Index” and “Doing Business Index.

8.       Implementation and exercise of intellectual property right in order to enhance the competitiveness of Bangladesh.

 

 

Long-term Recommendations:

9.       Co-ordination and navigability of National Industrial Policy with Monetary Policy, Fiscal Policy  Import Policy, Export Policy and other applicable policies.

10.   Ad-hoc basis power and energy connection for scattered and independent industry is cumbersome and costly for the government agencies. In order to get rid of this, investment are encouraged in Economic Zones, Special Economic Zones and Industrial Cluster where an umbrella facilities ensuring industrial infrastructure, electricity, gas and other utility can be ensured in more structured manner.

11.   Industrial policy needs to address the non-tariff barriers in order to spur export diversification as well as boost-up export earnings.

12.   Gradually shift towards green productivity and harmonization of standardization certifications with international bodies to increase the global market share of Bangladeshi made products and services.

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