Proposed industrial policy is aimed at skills uplift
The upcoming professional policy will set a target to increase the industrial sector's economic contribution from the prevailing 35 per cent to 40 % of the country's gross domestic product, according to a draft commercial policy.
The brand new policy is likely to focus on the IT sector so as to help industries enhance their efficiency and productivity, it said.
"There is no alternative to creating skilled recruiting in the commercial sector to build an industrialised region," Sectors Minister Nurul Majid Mahmud Humayun said throughout a virtual stakeholder workshop in Industrial Coverage 2021, organised by the industries ministry.
In the last three decades, the industrial sector's contributions have increased as a result of expansion of export-oriented industries, particularly garments.
The share of the professional sector was 25 % in fiscal 2005-06, info from the Bangladesh Bureau of Statistics shows.
Humayun said the best emphasis must be given on skills expansion in the upcoming industrial policy so as to plan the fourth professional revolution.
As a way to increase productivity in the commercial sector, it's important to involve more persons by increasing the usage of modern technology and creating skilled recruiting, he added.
Ever since the united states achieved independence, a total of nine national professional policies have already been formulated with the latest coming in 2016.
The upcoming policy, which is valid until 2025, gives priority to the tiny and medium enterprises in order to generate huge employment opportunities and ensure higher growth.
State Minister for Sectors Kamal Ahmed Mojumder said you will find a lack of skilled specialists for higher production.
"We need to build-up skilled professionals and we have to address the personnel' benefit," he said.
Mojumder also suggested offering priority on light-engineering in order that the discrimination between imported and local machinery decreases.
The case of investment abroad by localized entrepreneurs will be given priority in the professional policy, he added.
Considering the problem of environmental conservation, the industrial policy will be formulated by ensuring the establishment of commercial factories in specified areas.
While addressing the workshop, Matiur Rahman, chairman of Uttara Motors, suggested including hometown vendors' issues to greatly help develop local components for the automobile industry.
He demanded another policy in order that local vendors may build their production capacity.
"If a separate plan is developed, the local vendors can manufacture numerous local ingredients for the automobile industry," Rahman said.
Hafizur Rahman Khan, chairman of Runner Automobiles, said Bangladesh gets the potential to boost its automobile sector as the market is moving to Asia.
He suggested giving priority to the automobile policy found in the national professional policy 2021.
Ferdaus Ara Begum, chief executive of the business enterprise Initiative Leading Creation, said the cost of conducting business in Bangladesh is going to be increasing daily due to the hiking of logistic expense.
Consequently, the logistic sector ought to be incorporated found in the policy to lessen the cost of doing business, he added.
Md Mafizur Rahman, managing director of the SME Basis, urged the government to include the informal sector on the industrial policy to handle the problem.
Regarding to him, the informal sector contributes significantly to the economy therefore it must be incorporated.
Md Mostaque Hassan, chairman of the Bangladesh Compact and Cottage Industries Company, said business owners cannot develop their business due to too little efficiency.
He suggested the need to address the abilities development problem of entrepreneurs.
Anwar Hossain Chowdhury, director standard of the Bangladesh Industrial Complex Assistance Center, likewise emphasised on the inclusion of expertise training in the policy.
He likewise said technology also needs to give priority with expertise development in the insurance policy.
"We are looking for skilled trainers for construction efficiency of workers to operate the great technology," he said.
Moderating the workshop, KM Ali Azam, industrial sectors secretary, said each one of these suggestions will be incorporated in the ultimate policy.
He said the federal government is offering priority to the fourth professional revolution found in the upcoming policy in order that the target will be fulfilled.
