Bangladesh government plans to establish a new industrial park on around 400 acres of land in Bogura to meet the growing demand for industrial facilities among small and medium-sized enterprises (SMEs), Commerce, Industries and Textiles Minister Khandakar Abdul Muktadir said.
Speaking as the chief guest at a programme marking the assumption of office by the newly elected board of directors of the Bogura Chamber of Commerce and Industry, the minister said development work on the proposed industrial park is expected to begin next winter. Road Transport and Bridges Minister Shaikh Rabiul Alam inaugurated the programme.
Mr. Muktadir said Bogura has strong potential to develop into a major industrial and economic hub, particularly as a centre for the country’s light engineering sector. The government is working to improve infrastructure and create a business-friendly environment to unlock the district’s industrial potential, he added.
The minister noted that the existing BSCIC industrial estate in Bogura is already fully occupied, while demand for new industrial facilities continues to rise among SME entrepreneurs. “Considering this demand, a plan has been taken to establish a new BSCIC industrial park on around 400 acres of land. We will try to expedite the work and begin the initial activities next winter,” he said.
He stressed that improving industrial competitiveness would require higher productivity, greater efficiency and lower financing costs. According to him, businesses face difficulties when they have to rely on high-interest loans, making affordable financing essential for reducing production costs and improving competitiveness.
The government is also working to improve access to fuel and electricity, simplify gas connections and expand opportunities for low-cost financing for industrial entrepreneurs, the minister said.
The proposed industrial park, he added, will offer more than industrial plots and basic infrastructure. It is expected to provide technical training, skilled workforce development, information and technical assistance to support entrepreneurs in establishing and operating their businesses.
Entrepreneurs setting up projects in the proposed park will also have access to comparatively low-interest financing under the government’s credit wholesaling scheme, he said.
Mr. Muktadir further emphasised that industrial development must go hand in hand with skilled human-resource development and stronger entrepreneurial capabilities.
