The country’s gold businessmen will make a mistake if they do not capture the prevailing global gold market. If the garment industry can be brought to this place with facilities, then gold can also be brought.
As gold is also an exportable item, this should also get the benefits like the garments industry get in terms of export. Chairman of Bangladesh Security and Exchange Commission (BSEC) Dr. Shibli Rubaiyat-ul-Islam said this at the seminar titled ‘Jewellery industry’s contribution to the economy and investment potential’ organized by Bangladesh Jewelers Association (BAJUS) on Saturday.
BSEC chairman said, “No research is done on this sector. I thank Bajus for organizing such a gold fair which have brought enthusiasm in various places. Currently, the role of gold is the most behind everything from the circulation of money. Countries like China, India are now reserving gold, due to which demand is increasing in these places. Gold is a very valuable commodity, but why we do not understand its importance.”
He said, “Now is the ideal time. As our GDP is increasing, our per capita income is also increasing besides our living standard; the demand for gold will increase. The huge potential that is being talked about, industrial structured and well plan will help to be successful.” Research director of Center for Policy Dialogue (CPD) Dr. Khandkar Golam Moazzem presented the main article in the seminar.
He said that the country is a major mining country but has not progressed in the gold business. Those who imported raw materials and exported gold advanced. If we want to increase our participation in the export market, we must also increase our imports. About 4,700 tons of gold are traded every year. The thing to say is that out of 10 big countries, 6 are Asian countries. This is also a great opportunity for us We do not know how big the gold market is in our country. It should have credible information to investors.
Bangladesh Investment Development Authority (BIDA) Executive Chairman Shah Mohammad Mahbub said, 86 percent of our export income comes from one sector. For so long, our country has been dependent on one sector, which is not very convenient. We also want export earnings to be decentralized. Even when we deposit money, we deposit it in different places, so that even if one place collapses, there is no danger. Therefore, we also want to support new sectors in terms of investment.
Director of Policy Research Institute (PRI) Dr. Ahsan H Mansoor said, we have skills as well as craftsmen. Everything is there, but we could not capture this market. Our revenue department had a tendency to ban gold, thereby stopping our exports. We have to change our mentality in the government to expand this industry It is part of our history, tradition for thousands of years.
