Call for speedy readiness of SEZs infrastructure to attract investors

The Dhaka Chamber of Commerce and Industry (DCCI) has called upon the government to ensure necessary infrastructural and utility facilities and transport routes with necessary compliance, for rapid preparedness of Special Economic Zones (SEZs) to attract investors, said a press release.

"The move of implementing 100 SEZs has created huge investment potential in the country," said Dhaka Chamber of Commerce and Industry (DCCI) President Md Sammer Sattar in a meeting with Industries Minister Nurul Majid Mahmud Humayun at the latter's office on Tuesday.

At the meeting, the DCCI president said that it is extremely important to take appropriate policy reform measures and ensure their implementation in a bid to retain the existing export market and create new export destinations in the post-LDC graduation era.

"For the local industrial readiness after graduation, identification of required policy gaps and reforms in existing regulations such as the SME policy-2019, Industrial Policy-2022, etc are essential," he added.

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, Sameer Sattar said further.

As stated in the National Industrial Policy 2022, the industry contribution to GDP can be increased by strengthening the 'Light Engineering' sector, which mostly involves the SMEs. Furthermore, prompt implementation of the proposed 10 light engineering industrial parks in five districts [Dhaka, Naryanganj, Mymensigh, Narsingdi and Jashore] with necessary infrastructure is required to strengthen the backward linkage industries, said the DCCI.

Sameer Sattar added that currently, the global 'halal market' is around $3 trillion. Bangladesh has a great chance to secure its spot in the global halal market by adding halal food, drinks, garments, cosmetics etc by further strengthening the BSTI with international accreditation.

At the meeting, minister Nurul Majid Mahmud Humayun said that the government is relentlessly working for the betterment of a business-friendly environment in the country, urging entrepreneurs to inform the ministry about any problems that they are facing, so that the issues can be solved.

The minister requested the private sector to come forward with investment in a bid to tap the potential of the world halal market.  

Industries Secretary Zakia Sultana, DCCI Senior Vice President SM Golam Faruk Alamgir, Vice President Md Junaed Ibna Ali and members of the DCCI board were also present at the meeting.