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DCCI placed recommendation to Ministry of Industry for proposed National Industry Policy

Dhaka Chamber of Commerce & Industry (DCCI) placed a set of recommendations to the Ministry of Industries for government’s consideration to be included in the next draft Industrial Policy 2021. DCCI President Rizwan Rahman handed over a total of 25 recommendations to the Secretary of Ministry of Industries K M Ali Azam on February 16, 2021.

Some of the major recommendations are:

DCCI proposed to reconstitute the definition of SME and bring the Medium category out of Cottage, Micro and Small and add to Large category of Industries. DCCI feels it will ease the cottage, micro and small enterprises to get financial and policy benefits.

The Chamber also recommended to establish a National SME Cluster Development Authority which will foster the sector specific cluster to ensure more productivity and diversification.

After the graduation from LDC status, Bangladesh may have lost duty and quota free access in different markets. In order to sustain in the export market, DCCI suggested government to initiate signing FTA or PTA with potential countries.

Due to fourth industrial revolution, 3.9 million new jobs will be created. To grab this opportunity, DCCI suggested to take re-skilling and up-skilling initiative from now.

A balanced taxation structure will expedite local and foreign investment in the country. DCCI also urged the government to establish technology adoption and dissemination centre to increase product’s diversification and quality.

Specific guidelines also sought to strengthen logistic support in order to make the e-commerce sector effective.

DCCI also feels that separate incentive packages should be allocated for import substitute SMEs in the SEZs. The Chamber also proposed to form a SME bank in the country to give easy access of credit to the SMEs. It also recommended to allocate a Crisis Mitigation Fund under the central bank. Moreover the next Industrial Policy should be in consistent with the policies of BEZA, NBR, BEPZA, BIDA, BSCIC and Bangladesh Bank.

Published on: 2021-02-18