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Bangladesh becomes industry-based middle-income country by 2021: Amu

CHITTAGONG, March 20, 2017 (BSS)- Industries Minister Amir Hossain Amu yesterday said that the government has relentlessly been striving to turn Bangladesh into an industry-based middle-income country by 2021 and into a developed one by 2041.

"Keeping this in view, we are pledge-bound to utilize cent percent economic privileges of the country's premier seaport Chittagong in order to achieving industrialization and economic growth", he said.

The Industries Minister said this while speaking as the chief guest at the inaugural ceremony of the 25th month-long "Chittagong International Trade Fair-2017" (CITF-2017) held under the auspices of Chittagong Chamber of Commerce and Industry (CCCI) at Railway Polo Ground this evening.

He said the country's contribution to manufacturing industrial sector in GDP in the last fiscal was 21.01 percent due to dynamic leadership of Prime Minister Sheikh Hasina and her policy, dynamic private sector, strong economic foundation and strategic location.

Amu said Bangladesh is rapidly advancing towards the highway of development and per capital income of the people now increased to US $1470 that resulted in enhancement of purchasing capacity of the people.

"In terms of purchasing capacity, Bangladesh is the 32nd biggest economic country and according to International Monetary Fund (IMF) Bangladesh ranks second among the fast growing economic countries in the world in 2016", he pointed out.

The minister said different international economic research organizations have identified Bangladesh as one of the 11 emerging economic countries (Next-11) and one of the five advancing countries in development (Frontier Five).

"Bangladesh has stunned the whole world by setting an example of achieving 7.11 percent GDP in fiscal 2015-16. The former US president Barack Obama and former secretary general of the United Nations (UN) Ban Ki-moon have presented Bangladesh as an example in different development issues", the minister said.

He called upon the entrepreneurs of the private sectors to play more proactive role to further accelerate the country's economic growth.

Amu said Chittagong Port is not only the Golden Entry to Bangladesh but also an emerging regional business hub in South and South-east Asia as it provides 60 percent of revenue to national exchequer.

The minister said the whole scenario of Chittagong is going to be changed drastically and economic activities will get dynamism when huge projects including a number of flyovers, four-lane Dhaka-Chittagong highway, Karnaphuli tunnel, elevated express way, Mirsarai and Anowara special economic zones, outer ring road, Dohazari-Gundum rail line, Moheshkhali LNG terminal, Matarbari Coal Power Plant, 91 kilometers Gas pipe line from Moheshkhali to Chittagong are implemented.

Addressing the function as special guest, Chittagong Mayor A J M Nasir Uddin said the construction work of the much-awaited ever largest Mirsarai Economic Zone was formally inaugurated by Bangabandhu daughter and Prime Minister Shiekh Hasina on 15,000 acres of land recently for creating jobs for 10 lakh people and attracting foreign and domestic investors.

CCCI president Mahbubul Alam presided over the function while acting president of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI) Shafiul Islam Mohiuddin and CCCI vice presidents- Sayed Zamal Ahmed, Nurun Newaz Selim, among others, addressed it.

Over 450 stalls including 16 premier gold pavilions, four mini mega pavilions, five premier pavilions, 10 standard pavilions, 172 premier mega booths, 22 mega booths are being set up at the fair venue covering four lakh square feet area in Railway Polo ground.

The CCCI has been organizing the fair since 1993 and it got a wide range of publicity by the Bangladesh missions abroad, foreign missions in Bangladesh and different trade bodies and trade-based websites. The fair will remain open for visitors from 10 am to 10 pm every day.