Find foreign partners for technology transfer

Prime Minister Sheikh Hasina on Sunday called upon the country’s businesspeople to find out their foreign partners to utilise their technology and knowledge in the local industries.

“To welcome the foreign investment, I would like to urge the local businessmen to find out your foreign partners. You can utilise their technology and knowledge in our industry. An excellent investment climate prevails in our country. Avail this opportunity,” she said.

The PM said this while inaugurating the ‘Made in Bangladesh Week’ organised by Bangladesh Garment Manufacturers and Exporters Association (BGMEA) in the city’s Bangabandhu International Conference Centre.

The week-long event will end on 18 November 2022, with the theme “Care for Fashion” with an objective to showcase the capability of the country’s apparel sector before the world.

Hasina said the policy of Bangladesh is an investment-friendly one. The duty-free and quota-free access of Bangladeshi products to different foreign markets attracts foreign investors, she said.

“I would like to urge diplomats and foreign businessmen to choose Bangladesh for investment and sourcing for the sake of their business amid a win-win situation,” she said, adding that Bangladesh is one of the most favourable destinations for investment.

The PM said Bangladesh is developing connectivity with South Asia and South East Asia as this region is a huge market due to its large population.

Noting that Bangladesh is setting up 100 economic zones in different parts of the country, she said, “We want local and foreign investment in the 100 zones.”

The PM stressed the need for the development of agriculture goods processing and food processing industry in the economic zones as the demand for agro-goods and food items would never decline in local and foreign markets.

The prime minister urged the RMG business leaders to pay special attention to good work environment, wellbeing of the workers and the quality of their products.

“It is essential to ensure the welfare of the workers, production of goods in environment-friendly places, and a healthy and decent life for the workers so that they can concentrate on work. Many of you are worker-friendly. But it is neglected in some places. You will have to pay special attention to it,” she said.

She emphasised on taking preparation from now on for the 4th industrial revolution (4IR) by developing skilled human resources and using artificial intelligence in the local industries. “We’ll have to take preparation from now on to face the changes to be caused by the 4IR,” she said.

The PM said the government has already taken steps to develop skilled human resources for the 4IR era and is also creating new entrepreneurs.

She also stressed the need for protecting arable lands, developing environment-friendly industries, and not setting up industries here and there in an indiscriminate way.

Sheikh Hasina, also President of the ruling Awami League, said her party announced its “Charter for Change” (in its 2008 election manifesto) and Bangladesh has truly changed in the last 13 years accordingly.

She said her government has successfully implemented the Vision 2021 and the Perspective Plan-2010-2021 and fulfilled the electoral pledge.

Focusing on the success of the country’s apparel sector, the Prime Minister congratulated the RMG sector as nine out of the world’s top 10 green garment factories are in Bangladesh now.

The Prime Minister thanked foreign investors and buyers and their representatives for their participation in the Made in Bangladesh event even amid the stagnant global business caused by war, sanctions and counter-sanctions.

More than 100 participants from overseas - foreign buyers and investors or their representatives - are taking part in the weeklong event arranged to enhance the market share of Bangladeshi apparel products in the global market.

At the inaugural ceremony, the Prime Minister also unveiled the covers of books titled “The Untold Stories of Bangladesh RMG Industry: Economic, Social and Environmental Good Practices” and “Beauty of Bangladesh.”

PM’s Private Industry and Investment Affairs Adviser Salman F Rahman, BGMEA president Faruque Hassan and International Apparel Federation President Cem Atlan and BGMEA Senior Vice President SM Mannan (Kochi) also spoke at the event.