United News of Bangladesh

Considering the location of Bhola, it can be the second biggest port in Bangladesh after Chittagong, Industries Minister Nurul Majid Mahmud Humayun said on Friday. "Since there is gas in Bhola, our main aim is to create entrepreneurship and employment there by utilizing that resources," the minister said at the inauguration ceremony of the construction of a gas connection line in the BSCIC Industrial area of Bhola Sadar. 9 more wells to be drilled in Bhola to expedite local gas production: Nasrul Hamid He also said that the small cottage industry is playing a vital role in our rural economy. “Specially during the Covid pandemic, we have seen that small entrepreneurs saved the lifeline of the rural economy. They kept running markets providing their products.” The industries minister also said that Bhola's BSIC is currently running in small scale and its areas can be expanded  in future, he mentioned. Rare olive ridley turtle rescued in Bhola Nurul Majid said Bhola is rich in gas, big companies have already started coming here. “Big companies like Celltech are producing ceramics here. Others are also showing interest in the industry. All in all, Bhola is a very promising place to invest, “the minister added. Presided over by Deputy Commissioner Arifuzzaman, Senior Secretary Zakia Sultana, BCIC director Akhil Chandra Poddar, District Parishad Chairman Abdul Momin Tulu, Additional Superintendent of Police Asaduzzaman, District Awami League General Secretary Mainul Hossain Biplab, Bhola BCIC also spoke. 12th national election: Awami League bags all four seats in Bhola

Industries Minister Nurul Majid Mahmud Humayun has invited businesses, especially SMEs, to invest in unused plots in the BSCIC - Bangladesh Small and Cottage Industries Corporation - industrial areas across the country. The minister made the invitation during a meeting with the Board of Directors of Dhaka Chamber of Commerce & Industry (DCCI) led by its President Ashraf Ahmed at his ministry office on Monday. Over 3,000 industrial factories set up in BSCIC estates since 2009: Industries Minister   He said that in the context of existing global and regional geo-economic volatility, industries have to concentrate on formulating proper plans to best utilize our internal resources. Recognizing SMEs as a lifeline of the economy, the industries minister - one of just said the government will continue conducting necessary training, skill development activities, market expansion and utilization of technology. He also said that inflation control and to stabilize the local market in the upcoming Ramadan season is the most important priority now and the government is vigorously working on it. For this, he requested the business community to help the government by all means. Industries minister says sugar shortage 'artificial,' blames traders' hoarding Dhaka Chamber President Ashraf Ahmed expressed DCCI’s willingness to work in support of all the initiatives of the Ministry of Industries to the maximum possible.  He also expressed his keen interest to work on Intellectual Property Rights (IPR) issues, and productivity enhancement initiatives i.e. national productivity-related issues with modern technology adaptation to be more competitive both in the local and international markets. He also stressed the need to support various new industries, including through fiscal measures like export incentives, customs bonds, etc. He later urged for the expansion of BSCIC industrial area for the expansion of industrialization in the country. Stock of urea fertilizer sufficient: Industries Minister DCCI Senior Vice President Malik Talha Ismail Bari, Vice President Md. Junaed Ibna Ali, members of the board of DCCI, DG of DPDT Md. Munim Hassan, DG of NPO Md. Mesbahul Alam, Additional Secretary of Ministry of Industries Md. Anwarul Alam were also present during the meeting.

Fair Electronics Limited has received the National Productivity and Quality Excellence Award, 2022 from the Ministry of Industries. Industries Minister Nurul Majid Mahmud Humayun handed over the award in a grand ceremony at a city hotel on Sunday, said a media release. Kazi Nasir Uddin, Chief Financial Officer (CFO) of Fair Group received the award on behalf of Fair Electronics. Also Read: Top features of Samsung Galaxy F23 5G According to the release, Fair Electronics achieved first prize in the Steel & Engineering Category. Through this, Fair Electronics achieved recognition by the government as the best manufacturing company in the country. State Minister for Industries Kamal Ahmed Majumder and Senior Vice President of FBCCI Mostafa Azad Chowdhury Babu attended the ceremony as the special guests. Read 26 firms to get national productivity, quality excellence awards Sunday Industries secretary Zakia Sultana presided over the function.   Ministry of Industries awards the National Productivity and Excellence Award every year to different companies in recognition of their contribution to industrialization, employment generation, and contribution to the national economy. This year 26 manufacturing and service sector companies received the award. A trade body & association is also awarded Institutional Appreciation Award, 2020 in the ceremony. Read edotco wins multiple awards at the Global Best Employer Awards 2022

Bangladesh Patents Bill, 2021 was placed in Parliament aiming to make the century-old patent law more time-befitting one and strengthen the safeguard of intellectual property rights. Industries Minister Nurul Majid Mahmud Humayun placed the bill in the House, which was sent to the respective parliamentary standing committee for further scrutiny. The committee was asked to submit its report within 30 days. According to the bill, the owner will be given the patent of any innovation for 20 years and then it will become public property. A registrar office will be there to issue or cancel patents of any single inventor or joint inventors of a technical innovation under the proposed law. Also read: Cabinet clears Bangladesh Patent Bill On February22, 2021, the Cabinet cleared the draft of Bangladesh Patents Bill 2021, which will repeal the patent related provisions in ‘Patents and Designs Act, 1911.’ Boilers Bill Besides, the Industries Minister placed the Boilers Bill, 2021 in the House aiming to check boiler-related accidents and ensure a safer work environment in industrial mills by constructing and using standard boilers there. Also read: Reduce fuel prices: Jatiya Party MPs to govt Later, the bill was sent to the respective parliamentary committee. The committee was asked to submit its report within 30 days. The bill will replace the Boiler Act, 1923.

A total of 23 companies on Thursday received "Bangabandhu Sheikh Mujib Industrial Award 2020" in seven categories for their contributions to the country’s economic growth. Industries Minister Nurul Majid Mahmud Humayun distributed the award among the recipients at a programme at Osmani Memorial Auditorium. This was the first time that the Bangabandhu Sheikh Mujib Award was introduced in seven categories.

Industries Minister Nurul Majid Mahmud Humayun on Wednesday urged the Russian entrepreneurs to invest in different sectors in Bangladesh including fertilizer, cement, leather and shipbuilding. He made the call when Russian ambassador in Dhaka Aleksandr Mantytsky met the minister at the latter’s office here. The Industries Minister told the Russian envoy that there is huge demand for fertilizer in Bangladesh as it is mainly an agriculture-driven country. READ: No decision to shut down sugar mills: Industries Minister Besides, the trade relations between the two countries can be strengthened further through joint investments in cement, light engineering, leather, ceramic, pharmaceuticals, paper, chemical and shipbuilding sectors, he said. In the meeting, they discussed the bilateral investment protection agreement proposed by Russia. The two sides agreed over signing the deal following negotiations. The Minister asked the ambassador for quick signing of a proposed Memorandum of Understanding (MoU) between Bangladesh Standard and Testing Institution (BSTI) and Russian Federal Agency on Technology Regulation and Metrology.  Nurul Majid said Bangladesh has already placed the draft MoU before Russia through diplomatic channels and if needed, the draft deal could be revised. In reply, the Russian ambassador assured of taking necessary measures in this regard. READ: Bangladesh to roll out its first car next year, says Industries Minister The both sides agreed to discuss the issues related to Bangladesh-Russia Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation in the next meeting. Aleksandr Mantytsky invited the minister to visit Russia, said a PID handout.

Industries Minister Nurul Majid Mahmud Humayun on Sunday called upon the private sector and foreign investors to set up spare parts and tools manufacturing unit in Bangladesh’s Economic Zones (EZs). “The government is relentlessly working for the industrialisation of the country. Research and innovation in the sectors are more important,” he told a webinar organised by Dhaka Chamber of Commerce & Industry (DCCI) titled “Automobile Industry Development: Present Situation & Future Prospects”. Japanese Ambassador to Bangladesh Ito Naoki said Bangladesh has a strong possibility to establish its own local automobile industry. “When we talk about export diversification, the automobile, light engineering and agriculture-based sector can play a vital role,” he said. Japanese Mitsubishi Motors showed interest to invest in Bangladesh in the CKD (Completely Knocked Down Units) assembling plant, he said. “Mitsubishi and Ministry of Industries came to an agreement last month to sign an MOU to conduct a joint feasibility study on the viability of investment. It’ll create technology transfer and employment opportunities for Bangladesh.” He also urged for policy support, tax benefits and incentives to grow the industry. Also read: No decision to shut down sugar mills: Industries Minister Humayun said a comprehensive policy will be pursued especially for this industry, if needed. DCCI President Rizwan Rahman said at least 5-10 years sustaining tariff policy should be taken to support the local vehicle assembling and manufacturing industry. He said that Bangladesh’s automobile sector is mainly dominated by imported reconditioned and new vehicles mostly from Japan, China, India, Europe and the USA. Considering the growing market demand, local and foreign investors are now showing interests to invest in the automobile industry. “Prior to the COVID-19, the automobile market was growing by 15 percent to 20 percent with 12 percent growth in auto parts yearly. Despite having potentials, the absence of long-term policy and consistent tax structure, lack of domestic source of raw materials and relevant skilled human resources, as well as- inadequate backward linkage limit the automobile manufacturing industry development,” he added. He also urged for a long-term policy and a minimum 5-10 years sustaining tariff policy to support the assembling and manufacturing of vehicles. Rizwan also suggested setting up a separate Automobile Zone and allowing joint ventures for parts manufacturing to create local experts. Presenting the keynote paper, Taskeen Ahmed, Deputy Managing Director of IFAD Group highlighted that Bangladesh has made a tremendous progress in the infrastructure sector in the recent past. Also read: Bangladesh to roll out its first car next year, says Industries Minister He said the completion of Padma Bridge will create high local demand for commercial vehicles. Moreover, the BBIN Motor Vehicle Agreement would boost commercial vehicle growth on regional trade dynamics shift. “After the draft Automobile Policy 2018, the market size of motorcycle industry went to a new height. Total investment in this sector is Tk 8,000 crore contributing 0.5 percent to the GDP now. Whereas, reconditioned car constitutes 50 percent of the total car market, on the other hand, 45 percent are used and only 5 percent are brand new. As per the draft, automobile policy government plans to impose a ban on used car imports give incentives to facilitate local industry,” he said. Taskeen said the commercial vehicle market is around $1 billion and the growth will be sustained in the future. In the light engineering sector, the market size of auto parts industry is about Tk 1,400 crore with an annual growth rate of 12 percent, he said. John D Dunham, Economic and Indo-Pacific Affairs Unit Chief of the US Embassy said Bangladesh was able to show tremendous growth especially during the last decade. “Bangladesh is graduating into a developing country; therefore, the government needs to tailor ideal policies like tax and investment policies. Bangladesh’s prosperity is important to the USA,” he said. Md Touhiduzzaman, Managing Director of Pragati Industries Ltd, said, “We want vehicles to be manufactured locally. The more assembler will come the more the sector will boost. Also, focus needs to be given to spare parts manufacturing locally. Every assembler should have a research and development cell for improvement.” Matiur Rahman, Chairman & Managing Director of Uttara Group of Companies said, “We’re far behind in this sector. A long-term policy and incentives will foster this sector. This is a promising sector and has the opportunity to attract private sector investment. “ Also read: Zero-accident, zero-pollution policy adopted: Industries Minister Engineer Syed Imtiaz Ahmed, President of Signal Stream Inc, Canada, said that if Bangladesh can focus on manufacturing electronic control units (ECU) in Bangladesh that are massively used by car and other vehicles manufacturers, then the country will be able to grab a portion of the world automobile industry very soon. Abdul Haque, President of BARVIDA, said that the taxation policy should be industry-friendly and the industry needs more consistent policy support. The market of three-wheelers is being enlarged in Bangladesh. He also urged for policy consistency and creating affordability of middle-class people. Hayakawa Yuho, Chief Representative of JICA Bangladesh, said an appropriate industrial policy is needed to protect and nurture the sector. “The government may think of providing investment incentives to the private sector investors from home and abroad. The automobile policy should be carefully formulated and implemented since the situation in this sector changes day by day,” he said.

Women entrepreneurs will be provided with plots in the Bangladesh Small and Cottage Industries Corporation (BSCIC) on priority basis, said Industries Minister Nurul Majid Mahmud Humayun on Sunday.

The government is working to build Bangladesh as a regional automobile manufacturing hub by 2030, Industries Minister Nurul Majid Mahmud Humayun said Thursday.

Dhaka Chamber of Commerce and Industry (DCCI) on Monday called on the government to formulate an SME act and redefine cottage, micro, small and medium enterprises (CMSMEs) in the upcoming Industrial Policy.