‘Political stability, policy backup, road-rail-port expansion a must’

FE Report | Published: December 08, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Sector-stakeholders and economists at a business summit Sunday suggested timely policy intervention, creating environment for local and foreign investment in road, rail and port capacity building to meet the infrastructure challenges to enable the country to attain the vision of $50 billion export by 2021.
Agreeing that more than $50 billion export is possible by 2021-Bangladesh's golden-jubilee year--they further said the country needs huge investment, confidence building, regulatory frameworks, good governance and political stability to go ahead with the vision.
The panelists' views were expressed in a session on 'Infrastructure--the road to Chittagong and Beyond' of the Dhaka Apparel Summit, first of its kind organized by Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The meet was arranged in collaboration with Brand Forum Bangladesh.
Moderated by Asif Ibrahim, chairman of Business Initiative Leading Development (BUILD), the session was addressed by Advisor to the Prime Minister on Energy, Power, and Mineral Resources Tawfiq-e-Elahi Chowdhury, member of the National Standing Committee of BNP Dr Abdul Mayeen Khan, Board Member of Alliance for Bangladesh Worker Safety James F Moriarty, Japan International Cooperation Agency Country Representative Mikio Hataeda, Chairman of Policy Research Institute (PRI) Zaidi Sattar, World Bank, Bangladesh office, lead economist Dr Zahid Hossain, Shamimul Haq and SM Fazlul Haque of BGMEA.
The PM advisor highlighted the government commitment to the apparel sector for providing 24-hour seven days' quality energy supply and said they are working to import more energy, construct deep-sea port, and introduce new energy sources to meet the growing demand of the sector.
He also assured of providing the support to the main export-earning sector stopping power supply to common consumers, as done before, to increase production.
The advisor also urged the garment owners to be efficient in using the prime energy sources and invited the private sector to invest in energy to increase its generation to meet an ever-growing demand.
BNP leader Dr Mayeen, however, urged the apparel-sector owners to spread their production plant throughout the country to meet the sector's demand, which is expected for its growth to attain the export target.
"This sector has the potential to be reputed as the cottage industry of Bangladesh on the global market by building up industry in every corner of the country," he told the business meet, attended by experts and stakeholders from home and abroad.
He also urged the garment businessmen to create pressure on the government to take right and timely policies needed to achieve the $50 billion export target.
But, the former minister hastened to add: "The less you are dependent on the government will be the better for the growth of the sector."
Former US Ambassador Moriarty referred to the foreign investment in infrastructure building and said Bangladesh has lot of opportunity in infrastructure development.
He focused on removing barriers like over-regulation to build confidence among the investors. The diplomat said investment from Southeast Asia and China which have "fantastic experience in infrastructure development" can help the country.
The JICA Country Representative highlighted the BIG-B initiatives being promoted by Tokyo and other JICA initiatives to improve connectivity within the country and with other regions.
Dhaka Chittagong corridor and urban transport system improvement also have been given focus to reduce the time of transportation and improve connectivity.
The PRI chairman referred to improving branding image of the country as various studies done on the country are not in favour of inviting investors. He said barriers in the infrastructure constraint its growth not beyond 10 per cent.
The World Bank lead economist, however, highlighted the bank's study on the infrastructure in South Asia and said the country's challenge remains more on to come out from the negligence of the infrastructures that are built up.
smunima@yahoo.com