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Sector: Apparels and Textile
Bangladesh has made remarkable progress in
trade, commerce and industry over the past three decades, but still much
remains to be done to achieve its desired objectives in view of economic
globalization. The present trend of world trade liberalization has had a huge
impact on government policy for a transition from a predominantly agrarian
economy to an industrial and service economy. Economic growth has accelerated
with an annual average rate of f 4.7 per cent in the 1990s-an achievement of
integrated effort both by public and private sector. GDP growth of 5 per cent
or more has been marked for four consecutive years (1995-1998). Industrial
output grew at an average rate of 7 per cent during the 1990s.
Bangladesh has identified sixteen priority sectors and industries with a view
to giving them special incentives and support. These include agro-based
industries, electronics, infrastructures, oil and gas, software, textiles and
tourism. To attract the Foreign Direct Investment (FDI) in this sector,
significant structural shifts in the economy has been already done by the
present and past few governments. Apart from the four reserved public sectors-defence,
forestry, nuclear energy and security printing (currency notes)-privatization
has been immensely encouraged of all state-owned enterprises (SOEs) comprising
gas, steel, jute, chemicals, and textiles. In this regard a Privatization
Board has been set up and some pragmatic changes have been made to
strengthening the legal basis of privatization programme.
Private sector is the major source of investment and playing an important role
in nation-building activities. Approved investment in FDI projects including
joint ventures, registered nearly $4.5 billion in 1997 and 1998. The United
States, Japan, Malaysia, the Republic of Korea, Singapore, India, China,
United Kingdom, France, the Netherlands, Switzerland etc are the major nations
of our private Foreign Investors. The government is further pursuing more
active policies to draw much more investment both from domestic and foreign
private investment.
Import Policy
Industrial Policy
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