Tipu Munshi: Govt will promote PPE industry

Commerce Minister Tipu Munshi has said that the government is committed to provide all-out support to promote the Medical and Personal Protective Equipment industry in Bangladesh as an important sector for attaining export diversification and deeper industrialisation.

The minister also said that the commerce ministry will take necessary steps to ensure enabling policies and regulations for the sector.

Tipu Munshi made the remarks while speaking as the chief guest at a webinar titled “Exploring Growth Opportunities: Production and Export of Medical and Personal Protective Equipment” organised by Business Initiative Leading Development (BUILD) on Sunday to share the findings of the studies and gather ideas and insights from the stakeholders.

While the Covid-19 has posed a major challenge to the development dynamics of Bangladesh, the country has weathered the challenges and is now set to resume its accelerated growth pathway towards its transition to a developed economy.

Bangladesh needs to develop the MPPE industry in a strategic manner, setting targets, extending the right incentives, ensuring public-private cooperation, and closely follow up the progress and constraints, said Commerce Secretary Tapan Kanti Ghosh at the webinar.

BUILD Chairperson Abul Kasem Khan said that export diversification is a major challenge for the Bangladesh economy as the country seeks to alleviate its heavy dependence on the RMG sector.

“The best strategy to begin diversification is to build on our strength,” he said.

He pointed out five key areas to focus on to develop the sector including the right products, proper incentives, appropriate policies, knowledge and skills, as well as proper technology and logistical system.

“The International Finance Corporation is providing necessary support to bridge the knowledge gaps to enhance growth in the MPPE sector,” said Nuzhat Anwar, IFC’s acting country manager for Bangladesh, Bhutan and Nepal.

“In order to meet the growing demand two studies were commissioned by IFC’s Bangladesh Investment Climate Fund II with support from the Foreign, Commonwealth and Development Office (FCDO) of the UK government,” she added.