The government is considering adoption of some crash programmes to dramatically increase the supply of energy to the existing factories that are severely suffering due to insufficient gas and electricity supply.
"And if we are making a visible decision in this regard, if it succeeds, I can assure you will see a huge turnaround within a year of time," Commerce Minister Khandakar Abdul Muktadir said on Saturday.
"So our great emphasis is to fnd a way where we can quickly address this issue," the minister said while addressing a discussion titled "Cooperation for Industry Placement, Recruitment and Talent Development Initiatives' held at the BGMEA Complex in Uttara in the city.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Asian University for Women (AUW)'s 'HSBC-AUW School of Apparel organized the event aiming of creating skilled human resources in the ready-made garment industry, developing women's leadership and strengthening collaboration between industry and academia.
Speaking about the challenges of the energy sector, the minister said that in addition to domestic gas production and LNG import, there are plans to set up another floating LNG terminal (FSRU) through which an additional 550 to 600 million cubic feet of gas will be added to the national grid.
He said that many industrial enterprises could not start production due to the gas crisis.
He cited that a group that has been sitting idle for four years despite investment worth US$16 million or TK 72 billion and another steel mill that installed 1.8 million tonnes also can't go for production in absence of gas supply.
Therefore, ensuring uninterrupted energy supply is one of the government's priorities.
The government is implementing rapid reforms in business start-ups, licensing, port management and the energy sector to increase investment, expand industrialization, create employment and strengthen export capacity in the country, he said.
He further said that since assuming office, the current government has been working towards making Bangladesh an attractive global investment destination.
Although it currently takes an average of 355 days to start a business and obtain a license, initiatives have been taken to significantly reduce this time to 14 days, he noted.
According to the government's plan, entrepreneurs can obtain an import registration certificate within just 14 days of company registration and other preliminary approvals, which will enable rapid import of equipment and establishment of industries.
The Commerce Minister said that instead of separate inspections of various organizations, a coordinated inspection system will be introduced that would reduce harassment of entrepreneurs and significantly reduce the time for setting up industries.
In addition, all services including trade licenses, company registration, share transfer and company dissolution will be provided online through a one-stop service.
Regarding the modernization of port management, he said that the involvement of international operators efficiency in cargo handling will increase, vessel waiting times will decrease, and transportation costs will be reduced, allowing exporters and importers to achieve a more competitive position in the global market.
Speaking there, Dr Rubana Huq, vice chancellor of AUW, highlighted women's participation and leadership development in the garment industry.
She called on BGMEA member factories to sponsor the AUW's 'Master of Science in Apparel and Retail Management' program for higher education of women workers in the garment sector.
She said that this partnership will demonstrate the industry's commitment to creating the next generation of leaders in the garment sector.
This joint venture will create a strong pipeline of professional women executives skilled in key areas such as supply chain management, sustainability, and industrial engineering for the apparel sector, she noted.
BGMEA president Mahmud Hasan Khan said, "This initiative is part of BGMEA's long-term commitment to enhance the global capabilities of Bangladesh's garment industry and develop skilled human resources."
BGMEA encourages its members having export earnings over $20 million to sponsor one female worker under the programme to develop the next generation of leaders in the garment industry.
Kihak Sung, chairman of Youngone Corporation, Kamal Ahmed, founder of AUW, and BGMEA former president Kutubuddin Ahmed also spoke at the event.
Munni_fe@yahoo.com