Ready infrastructure to make economic zones attractive: DCCI

The government should put in place required infrastructural and utility facilities to ready economic zones and draw investments, said the Dhaka Chamber of Commerce & Industry (DCCI).

"The move of implementing 100 economic zones has created huge investment potential. It is crucial to ensure necessary infrastructural and utility facilities such as gas and electricity and transport routes with necessary compliance for the effective readiness of economic zones to attract investments," said DCCI President Md Sameer Sattar.

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He made the comments during a meeting with Industries Minister Nurul Majid Mahmud Humayun at the latter's office in Dhaka on Tuesday, according to a press release.

Sattar said it is extremely important to take appropriate policy reforms and ensure their implementation to retain the existing export market and create new export destinations in the post-LDC (least-developed country) era.

"For the readiness of local industries after graduation, the identification of required policy gaps and reforms in existing regulations such as the SME Policy 2019 and the National Industrial Policy 2022 is essential."

According to the business leader, for the development of cottage, micro, small and medium enterprises (CMSMEs), the definition of SME needs to be redefined to exclude medium enterprises, as cottage, micro and small entrepreneurs are deprived of financial and non-financial facilities compared to their medium counterparts.

The National Industrial Policy said the industrial contribution to GDP can be increased by strengthening the light engineering sector, which mainly involves SMEs.

Furthermore, prompt implementation of the 10 proposed light engineering industrial parks in five districts -- Dhaka, Narayanganj, Mymensingh, Narsingdi and Jashore -- with necessary infrastructure is required to strengthen the backward linkage industries, said the press release. 

Sattar also shed light on the global halal market valued around $3 trillion.

"Bangladesh has a great chance to secure the global halal market by adding halal foods, drinks, garments and cosmetics and strengthening the Bangladesh Standards and Testing Institution with international accreditation," he said.

"We should tap the potential of the global halal market," Nurul Majid Mahmud Humayun added.

"For that to happen, the private sector should come forward with investments."

He assured to extend all possible support to industries from the government.

The industries minister said that the government is relentlessly working for the betterment of a business-friendly environment.

He urged entrepreneurs to inform the industries ministry about the specific problems that they are facing so that it can take up the issues and resolve them.

Industries Secretary Zakia Sultana, DCCI Senior Vice-president SM Golam Faruk Alamgir and Vice-president Md Junaed Ibna Ali were also present during the meeting.