Investment-friendly environ to be established: CA
Friday, 16 November 2007
FE Report
Chief Adviser Fakhruddin Ahmed inaugurated the three-day 18th Bangladesh Apparel and Textile Exposition (BATEXPO)-2007 Thursday assuring the business community of his interim government's determination to establish investment-friendly environment and boost the national economy.
He said his administration has been working seriously to bring back dynamism in the business arena by setting up supportive institutions.
"We have already formed the Regulatory Reforms Commission (RRC) and we are now working for establishing the Better Business Forum (BBF) to bring back normalcy in the businesses," said Fakhruddin Ahmed.
He also urged the owners of the garment production units to get 100 per cent compliances and make regular payment to the workers for smooth running of the sector.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has been organising the mega annual event in the country since 1989 to attract overseas buyers. The fair, where 82 local and international stalls have been put up, will continue at its venue at the Pan Pacific Sonargaon Hotel until November 17 next.
At the outset of his inaugural address the Chief Adviser mentioned the severe cyclonic storm approaching the country's coast and sought divine blessings as well as the cooperation of the people for overcoming the effect of such danger.
Fakhruddin Ahmed reassured the garment exporters that his administration would make efforts for the passage of 'The New Partnership for Development Act of 2007' in the US Congress.
During his recent visit to the United States, the CA said, he had highlighted the necessity of the access for Bangladeshi garments to that country's market with the concerned authorities. The government continues lobbying through the Bangladesh embassy to get the bill passed by the US Congress, he added.
He lauded the initiatives taken by the readymade garment (RMG) exporters for narrowing the differences in relations between owners and workers.
The Chief Adviser assured the RMG exporters for extending his cooperation to the construction of dormitories for the garment workers on 300 acres of land near the proposed 'Garment Palli' at Bausia under Munshiganj district.
He said he will take initiatives for enhancing efficiency of Board of Investment (BoI), Bangladesh Export Processing Zones Authorities (BEPZA) and Export Promotion Bureau (EPB) for gaining better presence in global business.
The BGMEA president, Anwar-ul-Alam Chowdhury (Parvez), chaired the inaugural session where Finance and Commerce adviser AB Mirza Azizul Islam and Labour and Employment adviser Anwarul Iqbal spoke as the special guests. Other government advisers were also present on the occasion.
At the inaugural session Mirza Azizul Islam said in the last fiscal. the country fetched US$9.2 billion by exporting RMG products, which was only $31.6 million in 1983, when there were only 19 garment production units.
He said the expansion of the RMG business has directly contributed to the growth of banking and insurance sector as well as hotel business in the country.
Azizul Islam said the RMG is one of the largest single area, where 2.4 million workers are directly employed, of which unskilled and semi-skilled women constitute 85 per cent.
"As a result, the sector contributed a lot to creation of employment and empowerment of women in our national life," Mirza Aziz said.
Criticising the inferences of some quarters, the Commerce adviser said after the expiry of the Multi-Fibre Arrangement (MFA), the export of RMG products has rather risen.
BGMEA chief Parvez sought cooperation from the government for expanding the market for the local RMG products after the expiry of the US safeguard measures against China at the end of 2007.
Parvez urged the government to reduce the rate of interest on bank loans to single digit for sustaining the high growth of investment in the sector.
Chief Adviser Fakhruddin Ahmed inaugurated the three-day 18th Bangladesh Apparel and Textile Exposition (BATEXPO)-2007 Thursday assuring the business community of his interim government's determination to establish investment-friendly environment and boost the national economy.
He said his administration has been working seriously to bring back dynamism in the business arena by setting up supportive institutions.
"We have already formed the Regulatory Reforms Commission (RRC) and we are now working for establishing the Better Business Forum (BBF) to bring back normalcy in the businesses," said Fakhruddin Ahmed.
He also urged the owners of the garment production units to get 100 per cent compliances and make regular payment to the workers for smooth running of the sector.
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has been organising the mega annual event in the country since 1989 to attract overseas buyers. The fair, where 82 local and international stalls have been put up, will continue at its venue at the Pan Pacific Sonargaon Hotel until November 17 next.
At the outset of his inaugural address the Chief Adviser mentioned the severe cyclonic storm approaching the country's coast and sought divine blessings as well as the cooperation of the people for overcoming the effect of such danger.
Fakhruddin Ahmed reassured the garment exporters that his administration would make efforts for the passage of 'The New Partnership for Development Act of 2007' in the US Congress.
During his recent visit to the United States, the CA said, he had highlighted the necessity of the access for Bangladeshi garments to that country's market with the concerned authorities. The government continues lobbying through the Bangladesh embassy to get the bill passed by the US Congress, he added.
He lauded the initiatives taken by the readymade garment (RMG) exporters for narrowing the differences in relations between owners and workers.
The Chief Adviser assured the RMG exporters for extending his cooperation to the construction of dormitories for the garment workers on 300 acres of land near the proposed 'Garment Palli' at Bausia under Munshiganj district.
He said he will take initiatives for enhancing efficiency of Board of Investment (BoI), Bangladesh Export Processing Zones Authorities (BEPZA) and Export Promotion Bureau (EPB) for gaining better presence in global business.
The BGMEA president, Anwar-ul-Alam Chowdhury (Parvez), chaired the inaugural session where Finance and Commerce adviser AB Mirza Azizul Islam and Labour and Employment adviser Anwarul Iqbal spoke as the special guests. Other government advisers were also present on the occasion.
At the inaugural session Mirza Azizul Islam said in the last fiscal. the country fetched US$9.2 billion by exporting RMG products, which was only $31.6 million in 1983, when there were only 19 garment production units.
He said the expansion of the RMG business has directly contributed to the growth of banking and insurance sector as well as hotel business in the country.
Azizul Islam said the RMG is one of the largest single area, where 2.4 million workers are directly employed, of which unskilled and semi-skilled women constitute 85 per cent.
"As a result, the sector contributed a lot to creation of employment and empowerment of women in our national life," Mirza Aziz said.
Criticising the inferences of some quarters, the Commerce adviser said after the expiry of the Multi-Fibre Arrangement (MFA), the export of RMG products has rather risen.
BGMEA chief Parvez sought cooperation from the government for expanding the market for the local RMG products after the expiry of the US safeguard measures against China at the end of 2007.
Parvez urged the government to reduce the rate of interest on bank loans to single digit for sustaining the high growth of investment in the sector.