Industries advised to invest more in R&D

FE Team | Published: February 08, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

FE Report
Eminent economists of the country Friday suggested the industries to increase their investment in the research and development (R&D) activities and strive hard to reach the global technological standard.
They also made a call to form an Endowment Fund to facilitate local students to do more research and innovation in the educational institutions so that Bangladesh does not need to bring foreign technology and consultants.
Their suggestions came at the inauguration programme of a two-day national conference of Bangladesh Economics Teachers Association at the Senate building of the University of Dhaka.
Industries Minister Amir Hossain Amu was present as the chief guest at the programme.
The association's president Prof ATM Zahurul Huq delivered the welcome speech while University Grants Commission member Muhibur Rahman, DU former pro-vice-chancellor Shahid Akhtar Hossain and National Credit and Commerce Bank Ltd managing director Mohammad Nurul Amin spoke, among others.
The speakers advised the ministry of industries to establish an alliance between industries and institutions to strengthen the effort of the quality industrialisation process.
They emphasised the need for establishing a quality assurance cell in every university to expand education close to life. They also suggested to set up a national level quality assurance and accreditation council. UNB adds: Amir Hossain Amu said the economy of Bangladesh is more self-contained than that of India.
"In terms of economy, our country is more self-dependent than India. It's recognised in the world that our country is self-sufficient in food," he said.
He said Bangladesh saw no job cut during the recent global recession whereas the USA, a self-reliant economy, experienced a huge job cut of millions of employees.
The minister said despite massive violence unleashed by BNP-Jamaat, the wheel of the country's economy is still moving forward and the government is working hard to strengthen the economy further.