‘Agriculture Hub’ helps build $1tr economy by 2034: Titumir
Prime Minister’s Finance and Planning Adviser Dr Rashed Al Mahmud Titumir yesterday said the government has removed major barriers to investment and taken a series of policy measures to transform Rajshahi and the northern region into a new hub of industry and investment, urging local entrepreneurs to take advantage of the improved business environment.
The government has set a target of transforming Bangladesh into a US$1 trillion economy by 2034 and is working to ensure a stable and predictable investment climate to achieve that goal, he said.
The adviser made the remarks while addressing a regional conference on agro-processing as the chief guest at the Rajshahi Primary Teachers’ Training Institute on Tuesday.
The conference was jointly organised by the Bangladesh Investment Development Authority (BIDA) and Swisscontact.
Dr. Titumir said the government is working under the vision of “Bangladesh First, Bangladesh with Everyone and Bangladesh for Everyone,” with balanced regional development being one of its key election commitments.
“Our objective is to bring the lagging regions to the forefront. Regional development has now become one of the government’s top priorities,” he said.
Highlighting the government’s investment strategy, he said, emphasis has been placed on five key areas, beginning with policy continuity.
To help investors make long-term business decisions, he mentioned that the latest national budget introduced a five-year tax framework and ensured equitable tax incentives for all export-oriented products.
“An investor plans for at least five years. We are providing certainty about the state’s policy direction,” he said. Dr. Titumir said the government is also simplifying business procedures through extensive deregulation.
He said that a Tk 49,000 crore refinancing programme is currently in operation, alongside a separate Tk 19,000 crore Bangladesh Bank fund and a Tk 5,000 crore refinancing facility for cottage, micro, small and medium enterprises (CMSMEs).
For the northern region, the adviser announced that Tk 3,000 crore has been earmarked through Bangladesh Bank to promote agro-based industries.
“This is the first time in Bangladesh’s history that Tk 3,000 crore has been set aside specifically to develop an agricultural hub in the northern region,” he said.
Rajshahi Divisional Commissioner Dr. A N M Bazlur Rashid chaired the programme.
Executive Chairman of the Bangladesh Investment Development Authority (BIDA), Chowdhury Ashik Mahmud Bin Harun, Rajshahi City Corporation Administrator Md Mahfuzur Rahman Riton, Rajshahi Deputy Commissioner Kazi Shahidul Islam and local entrepreneurs also spoke.
