Agri sector needs Tk 100b more investment

Agriculture Minister and Awami League Presidium Member Dr Abdur Razzaque on Tuesday said the National Agriculture Policy 2018 is being implemented to make Bangladesh's agricultural production sustainable and transform the agriculture sector, reports UNB.

"As of July 2023, more than Tk 450 billion has been invested in this sector. Of this, government investment is Tk 302 billion while the rest is from development partners. Besides, the World Bank and IFAD have recently invested Tk 5.76 billion in partner projects. However, at present, about Tk 100 billion is required to be invested in agriculture on priority basis," he said.

The minister said this while inaugurating the "Investment Conference" of the World Food Forum of the United Nations Food and Agriculture Organization (FAO) in Rome, Italy on Tuesday morning.

The minister urged developed countries, international banks, donors and private entrepreneurs to invest in Bangladesh's agriculture sector.

The AL leader highlighted the investment plans, requirements and prospects of Bangladesh in the country's agriculture sector in the scheduled session on presenting investment in agriculture.

He said Bangladesh's investment plan has given priority to six sectors such as cold storage installation and post-storage management, agro-processing and marketing, climate smart agriculture, irrigation and water management, skilled human resource generation and use of technology of the fourth industrial revolution.

These sectors need to invest Tk 200 billion in the next few years, he also said.

Giving details of investment infrastructure and government facilities in Bangladesh, the minister said there is a good investment environment in the country. The agriculture sector is very promising for investment in agriculture in Bangladesh and it will be profitable.

FAO is working to increase investment in the transformation of the agricultural sector. That is why FAO has organised the four-day 'Investment Conference' from October 17-20.

The conference is being attended by 32 countries from different parts of the world, which need more foreign investment in agriculture.