Hi-tech to help light engineering sector face globalisation: Dilip
Friday, 8 January 2010
FE Report
Use of modern technology by the light engineering sector was needed for the industry to meet the challenges of globalisation, Industries Minister Dilip Barua said Thursday.
"Transfer of modern technology had become very much crucial for the development of the industry, he said.
He was speaking at the inaugural ceremony of a four- day international light engineering product and technology fair "BIET 2010- The Bangladesh International Industrial & Engineering Technology Tradeshow and Symposium" at Bangabandhu International Conference Centre.
As the machinery and technologies used in this sector were age-old, it was not possible for those to produce world class products. Light engineering factories mostly carried out repairing and servicing work and application of new technologies was ignored, he added.
He said banks and financial institutions were less interested in investing in this potential sector. But the government was trying to change their mindset, as priority had been given to an industry-oriented economy.
The government had already withdrawn VAT on sub-contracting and would look into the procedure of VAT imposition on repair servicing, Mr Barua said.
Bangladesh Engineering Industry Owners' Association (BEIOA) organised the fair in collaboration with Indian ASK Trade & Exhibitions Pvt Ltd.
Companies from India, China, Hong Kong, Germany and UK are participating in the fair.
Over 100 companies, including 25 international businesses, have put up 148 stalls and a media centre has also been opened at the fair venue.
"We are happy to be able to organise the first ever international tradeshow for the engineering & industrial products sector in the country," Abdur Razzaque president of BEIOA said.
The main purpose of the fair was to introduce local light engineering products to the local and foreign businessmen, make the entrepreneurs aware of the state-of-art technology, to facilitate technology transfer and joint venture deals between local and international companies, he said.
The speakers emphasised on access to finance, transfer of technology, establishment of industrial park, business climate and collaboration opportunities in the light engineering sector.
Aftab-ul-Islam, chairman of SME Foundation, Annisul Huq, president of the Federation of Bangladesh Chamber of Commerce and Industry and K Nanda Gopal, CEO of ASK Trade & Exhibitions Pvt Ltd, among others, spoke at the function.
Use of modern technology by the light engineering sector was needed for the industry to meet the challenges of globalisation, Industries Minister Dilip Barua said Thursday.
"Transfer of modern technology had become very much crucial for the development of the industry, he said.
He was speaking at the inaugural ceremony of a four- day international light engineering product and technology fair "BIET 2010- The Bangladesh International Industrial & Engineering Technology Tradeshow and Symposium" at Bangabandhu International Conference Centre.
As the machinery and technologies used in this sector were age-old, it was not possible for those to produce world class products. Light engineering factories mostly carried out repairing and servicing work and application of new technologies was ignored, he added.
He said banks and financial institutions were less interested in investing in this potential sector. But the government was trying to change their mindset, as priority had been given to an industry-oriented economy.
The government had already withdrawn VAT on sub-contracting and would look into the procedure of VAT imposition on repair servicing, Mr Barua said.
Bangladesh Engineering Industry Owners' Association (BEIOA) organised the fair in collaboration with Indian ASK Trade & Exhibitions Pvt Ltd.
Companies from India, China, Hong Kong, Germany and UK are participating in the fair.
Over 100 companies, including 25 international businesses, have put up 148 stalls and a media centre has also been opened at the fair venue.
"We are happy to be able to organise the first ever international tradeshow for the engineering & industrial products sector in the country," Abdur Razzaque president of BEIOA said.
The main purpose of the fair was to introduce local light engineering products to the local and foreign businessmen, make the entrepreneurs aware of the state-of-art technology, to facilitate technology transfer and joint venture deals between local and international companies, he said.
The speakers emphasised on access to finance, transfer of technology, establishment of industrial park, business climate and collaboration opportunities in the light engineering sector.
Aftab-ul-Islam, chairman of SME Foundation, Annisul Huq, president of the Federation of Bangladesh Chamber of Commerce and Industry and K Nanda Gopal, CEO of ASK Trade & Exhibitions Pvt Ltd, among others, spoke at the function.