President for more investments to keep up industrial growth

President M Abdul Hamid urged on Tuesday all concerned to find new and potential sectors for investments to keep up the current pace of industrial growth, reports BSS.

"An excellent field for foreign investment has been created here to collect natural resources . . . I draw attention of the private entrepreneurs alongside the government to take plan-wise initiatives in this regard," he said while giving away the President's Award for Industrial Development-2016 at Osmani Memorial Auditorium in the city.

President Hamid said there is no alternative to developing private sector to achieve the desired goal of industrialisation. "The pace of industrialisation will accelerate as much as the private sector becomes strong," he added.

About various government initiatives to achieve sustainable and environment friendly industrialisation, Abdul Hamid said the government is setting up 100 special economic zones with a target of creating jobs for 10 million people and also increasing the export volume to US$ 40 billion.

"Our aim is to enhance the industrial sector's contribution to the GDP to 40 per cent by 2021 in line with the economic philosophy of Father of the Nation Bangabandhu Sheikh Mujibur Rahman," the President said.

He said the government has been providing various incentives to the private sector and entrepreneurs, particularly, the SME sector entrepreneurs who are given loan at a single digit interest and SME woman entrepreneurs are getting loan without collateral and plots on priority basis.

Abdul Hamid said local and foreign investment is on the rise due to tax exemption and other different government incentives provided to the investors.

Noting that Bangladesh has huge marine potential with natural resources including fish, sea food, oil, gas, the President said these resources help create enormous expansion of blue economy and field for foreign investments.

Referring to farsighted and time befitting work-plan undertaken by the present government led by Prime Minister Sheikh Hasina, Abdul Hamid said country's industrial sector witnessed a tremendous progress with qualitative change in the meantime.

He said the government is trying to ensure the visionary and entrepreneur-friendly policy that resulted in enhancing green industrialisation.

Later, the President distributed awards to 13 industrial units in six categories for their outstanding contribution to the economy.

Industries Minister Amir Hossain Amu, MP, secretary of the ministry Mohammad Abdullah, Monir Hossain, an award winner, also spoke on the occasion.