The Government of Bangladesh is committed to providing all-out support to promote the Medical and Personal Protective Equipment (MPPE) industry in Bangladesh as an important sector for attaining export diversification and deeper industrialisation, said Mr Tipu Munshi MP, Hon’ble Minister, Ministry of Commerce in his speech as the Chief Guest of a webinar titled “Exploring Growth Opportunities: Production and Export of Medical and Personal Protective Equipment”. The event was organised by Business Initiative Leading Development (BUILD) on 13 December 2021 to share the findings of the studies and gather ideas and insights from the stakeholders.
The Commerce Minister added that the Ministry of Commerce would take necessary steps to ensure that enabling policies and regulations are put in place for the sector. While the COVID-19 has posed a significant challenge to the development dynamic of Bangladesh, the country has weathered the challenges and is now set to resume its accelerated growth pathway towards its transition to a developed economy.
Bangladesh needs to develop the MPPE industry strategically, set targets, extend the right incentives, ensure public-private cooperation, and follow up closely on the progress and constraints, emphasised Tapan Kanti Ghosh, Secretary, Ministry of Commerce.
Recognising export diversification is a major challenge for the Bangladesh economy as the country seeks to alleviate its heavy dependence on the RMG sector; BUILD Chairperson Abul Kasem Khan mentioned that the best strategy to begin diversification is to build on our strength. He stated five key areas to focus on to develop the sector: right products, proper incentives, appropriate policies, knowledge and skills, as well as proper technology and logistical system.
Ms Nuzhat Anwar, Acting Country Manager, Bangladesh, Bhutan and Nepal, International Finance Corporation (IFC), said that businesses need to find innovative and sustainable ways to boost their production and export revenue to recover from the impacts of COVID19. IFC is providing the necessary support to bridge knowledge gaps in the Medical and Personal Protective Equipment (MPPE) sector in order to enhance private sector growth and support economic recovery.”
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