Principal Secretary to the Prime Minister M. Tofazzel Hossain Miah has said that timely reforms and good governance are essential for creating a business friendly environment with a view to prepare the country for post-LDC graduation scenario.
At the same time, he has called for increased investment in human resource by the Readymade Garments sector to meet the existing gap of managerial skills in the RMG industry.
He made these remarks while speaking as the chief guest of the ‘Validation Workshop on Final Draft Study Reports on Market Access, Comparative Advantage and Export Diversification and Upscaling the RMG Sector’ held at the NEC Conference Room of the capital on Wednesday.
Support to Sustainable Graduation Project (SSGP) of the Economic Relations Division (ERD) organized the event. Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh and the President of Bangladesh Textile Mills Association (BTMA) Mohammad Ali Khokon attended the event as special guests. ERD Secretary Md. Shahriar Kader Siddiky chaired the workshop.
Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh said that Bangladesh has to explore alternative to cash incentives to prepare the country’s exporters for post-LDC graduation scenario.
ERD Secretary Md. Shahriar Kader Siddiky, in his speech, observed that the private sector must work in close collaboration with the academic institutions to meet the gap of managerial skills in the RMG sector.
Chairman of RAPID and the Research Director of PRI Dr Mohammad Abdur Razzaque delivered two keynote presentations highlighting the major findings of the studies.
The study has also underscored the need for devising a fiber security strategy, ensuring duty-free access of all fibers and establishing a dedicated low-cost investment fund to support MMF investments.
Focusing on the findings of the study on ‘Market Access, Comparative Advantage and Export Diversification’, Dr Mohammad Abdur Razzaque called for prompt and effective implementation of the National Tariff Policy.
Former Senior Secretary of ERD and Adviser of SSGP Sharifa Khan; Vice Chairman of Export Promotion Bureau AHM Ahsan, Director General of the Duty Exemption and Drawback Office (DEDO) Mohammad Belal Hossain Chowdhury; and Director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Abdullah Hil Rakib also spoke during the event as panellists.
