Agriculture sector needs Tk15,000cr investment in 5yrs

To ensure sustainable production and transformation of the agriculture sector, Bangladesh needs investment worth Tk 15,000 crore in the next five years, said Agriculture Minister Muhammad Abdur Razzaque.

The minister said this at an investment summit organised by the Food and Agriculture Organization (FAO) at the World Food Forum in Rome, Italy on Tuesday.

He urged developed countries, international banks, donor agencies and private investors to invest in Bangladesh’s agriculture sector.

“Cold storage management, agro-processing and marketing, climate-smart agriculture and irrigation management are lucrative for investment,” Razzaque said.

“These sectors have potential and will be profitable for investors. And these sectors need Tk 15,000 crore investment in the next five years.”

Mentioning storage of onion, potato, mango and tomato the minister said, “There are no high technology and modern cold storage facilities for these products in the country. That is why 25-40 per cent of these products are wasted in the post-harvest period.”

He urged investors to look into the processing sector.

The minister described the country’s plan as well as the necessity and prospect of investment in Bangladesh’s agriculture sector to attract investment.

Delegations from 20 countries that need investment are participating in the summit.

Different development banks and donor agencies including the World Bank, Arab Bank are also participating in the two-day summit which will end on October 19.