BD needs to improve investment climate, infrastructure: UK
Monday, 30 March 2015
The United Kingdom has said Bangladesh needs to improve its investment climate, infrastructure and the skills of its labour force to grow and absorb the two million new entrants into the labour force each year, reports UNB.
"While the garment sector will always remain important, diversifying into other sectors is also necessary," said Mark Lowcock, UK Permanent Secretary for the Department for International Development (DFID). He emphasised the improved infrastructure, investment climate and the skills of its labour force.
Talking to the news agency, Mr Lowcock said the garment sector plays an important role in the economic development of Bangladesh.
About delay in compensation process, the top British bureaucrat said it is of vital importance that the victims of Rana Plaza are 'adequately compensated' in a timely manner.
"We've used every opportunity to call on UK companies to take responsibility and contribute to the Rana Plaza Trust Fund. This has included the Westminster Debate on 30 April, repeat Ministerial visits to Bangladesh, communications around the Rana Plaza anniversary, and various meetings with retailers and buyers," he said.
Primark, a UK retailer, has been at the forefront of compensation delivery, they have provided over $ 12 million of compensation to victims over the course of the last year.
"Going forward, we'll continue to work with other stakeholders to ensure that the gap in compensation is met and that the victims receive their dues," Mr Lowcock said.
To facilitate further growth in Bangladesh, he said, DFID is supporting a new 'Skills and Employment' programme that will provide at least 100,000 poor people, particularly women, skills training and access to semi-skilled, better pay and more formal jobs.
DFID is also promoting improvement in the investment climate through its support to the Bangladesh Investment Climate Facility which works to reduce the regulatory burden on businesses, thereby helping them grow and create more jobs, added Mr Lowcock.