Drive to revive loss-making factories

Prime Minister Tarique Rahman has assured investors of the government’s full support in reviving the country’s closed and loss-making state-owned factories, telling business leaders the government would back them “in every possible way” as they move to invest.

“We want you to move forward and prosper. We will support you in every possible way,” he said while addressing investors and business leaders at a roadshow held at his office in Tejgaon.

The event was jointly organized by the Industries, Textiles and Jute ministries along with the Bangladesh Investment Development Authority (BIDA) to attract investment for the revival of non-performing and closed factories, the Prime Minister’s Deputy Press Secretary Mostafa Zulfiquar Hasan told the media.

Speaking at the event, Tarique Rahman said the primary responsibility of a political government was to remove obstacles and create pathways to overcome challenges, while acknowledging that the government could not accomplish this on its own. “The reality is that we cannot solve all problems at once. But it is possible to address them gradually and systematically,” he said.

Referring to the roadshow’s more than three-hour discussion, the Prime Minister called for a collaborative approach going forward. “I will simply say, let us work together to bring about change. There are problems and there are challenges. But we have also realized that if we all work together, we can overcome these difficulties,” he said.

44 Factories Presented to Investors During the event, detailed information on 44 factories was presented to the business leaders and investors, covering their locations, existing infrastructure, investment incentives, transportation connectivity, and potential for production expansion.

Business representatives later took part in an open discussion session, raising nearly 50 questions, which were addressed by relevant authorities.

Officials and Business Leaders in Attendance
The event was attended by Finance and Planning Minister Amir Khosru Mahmud Chowdhury, Commerce, Industries, and Textiles and Jute Minister Khandakar Abdul Muktadir, the Prime Minister’s Finance and Planning Adviser Rashed Al Mahmud Titumir, Posts, Telecommunications and Information Technology and Science and Technology Adviser Rehan Asif Asad, BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, Bangladesh Bank Governor Md Mostaqur Rahman, Prime Minister’s Principal Secretary ABM Abdus Sattar, and senior officials from relevant ministries and divisions.

Leading figures from major industrial groups, including PRAN-RFL, ACI Limited, Walton, Meghna Group, Runner, T.K. Group, BRAC, Nabil Group, Square Group, Transcom Group, Akij Group, and Lal Teer, also attended.

Representatives from several Japanese organizations and companies were present as well, including Marubeni Corporation, Toyota Tsusho Corporation, Sumitomo Corporation, MUFG Bank Limited, Mitsui & Co. (Asia Pacific) Pte. Ltd., Sojitz Asia Pte. Ltd, the JETRO Bangladesh Office, and officials from the Embassy of Japan in Bangladesh.