Experts at a dialogue on Tuesday emphasised that a strong Intellectual Property Rights (IPR) regime is crucial for Bangladesh to attract global business, drive innovation, and support sustainable economic growth.
Protecting IPR in a country boosts investor confidence, promotes technology transfer, and enables local industries to compete internationally. As a result, it could position Bangladesh as an attractive destination for foreign direct investment and economic integration, they said.
The American Chamber of Commerce in Bangladesh (AmCham) organised the dialogue styled as 'Strengthening IPR Frameworks: Challenges and Way Forward' at a city hotel on Tuesday.
AmCham President Syed Ershad Ahmed, National Board of Revenue (NBR) Member Hossain Ahmed, Commercial Counsellor at the US Embassy in Dhaka John Fay, and Founder of Bangladesh IP Forum Barrister Hamidul Misbah attended the event.
Shilpi Jha, Senior Commercial Specialist and IP Policy Advisor-South Asia at USPTO, moderated the discussion.
According to the discussants, IPR protects the creations of individuals or businesses, giving them control over how their creations are used.
AmCham President Syed Ershad Ahmed said better coordination among the public and private sectors are important.
"By working in partnership, we are not only strengthening the framework for IP protection but also creating a dynamic ecosystem where businesses can flourish. Bangladesh becomes a major destination for foreign investment and contributes to the nation's long-term economic resilience."
A robust IPR regime is essential for Bangladesh to establish itself as an attractive destination for global business, said Mr Ahmed.
Barrister Hamidul Misbah laid emphasis on proper implementation of the existing laws.
Dr Mamun Habib, a professor of Independent University, said in developed countries, academicians are often evaluated based on the number of patents they hold, whereas Bangladesh faces challenges in addressing intellectual property issues.
"The IPR issue should be well integrated into Bangladesh's academic atmosphere to create more skilled people as well as awareness," he said.
Responding to queries from journalists, Shilpi Jha said media outlets should cover more stories related to IPR, as it will become more important in the coming days alongside the progress of Bangladesh's economic development.
Other speakers emphasized the need for more discussions and training on IPR for various stakeholders, as well as proper digitalisation of all services to ensure protection of IPR.
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