Revival plan for closed factories gets PM backing
Prime Minister Tarique Rahman has reaffirmed the government’s commitment to creating an investment-friendly environment, assuring full support to investors interested in reviving long-closed state-run factories.
He made the remarks at a meeting held at the Prime Minister’s Office in the Bangladesh Secretariat on Monday. The meeting, attended by officials from relevant ministries and departments, reviewed the current status of closed factories under the Ministry of Textiles and Jute and discussed steps for their reopening, according to the Prime Minister’s Press Wing.
During the meeting, the Prime Minister directed authorities to simplify the project approval process to attract both local and foreign investment. He emphasized the need to remove existing bureaucratic complexities that delay approvals and discourage investors.
A senior official present at the meeting noted that lengthy approval procedures and the requirement to obtain clearance from multiple departments significantly reduce investor interest. In response, the Prime Minister instructed that unnecessary approvals from ministries or departments be eliminated to streamline the process.
He also stressed the importance of improving access to financing, directing relevant authorities to facilitate loan support in order to boost private sector participation in reviving closed government factories.
Among those present at the meeting were Commerce, Industry, Textiles and Jute Minister Khandaker Abdul Muktadir Chowdhury; the Prime Minister’s Political and Industrial Adviser Ruhul Kabir Rizvi; Finance and Planning Adviser Dr Rashed Al Mahmud Titumir; State Minister for Textiles and Jute Shariful Alam; Principal Secretary to the Prime Minister ABM Abdus Sattar; Executive Chairman of BIDA Chowdhury Ashik Mahmud Bin Harun; Chairman of Bangladesh Textile Mills Corporation Brigadier General SM Zahid Hassan; and Chairman of Bangladesh Jute Mills Corporation Brigadier General Md Kabir Uddin Sikder, among others.
