As small businesses grapple with the challenges of uneven market competition, Industries Minister Nurul Majid Mahmud Humayun proposed the need for clear boundaries delineating what large conglomerates should and should not manufacture.
In his analogy, he likened large industries to catfish, expressing concerns about their all-encompassing presence in the economic ecosystem. Minister Humayun made these remarks during a mock parliament event held in Dhaka, organized collaboratively by Debate for Democracy and the Directorate of National Consumer Rights Protection recently.
He emphasized that large companies, including foreign investors, often express interest in sectors where small entrepreneurs are already established. He asserted his stance against large industries engaging in the production of a wide array of products, advocating instead for significant corporate investments in heavy industries while leaving sectors that support rural women entrepreneurs intact.
The minister further highlighted the government’s encouragement for investments in heavy industries and food processing. He acknowledged that industries often begin as small enterprises but urged them to refrain from producing certain products once they expand. During the event, students engaged in debates on the topic “The willingness of the private sector alone is sufficient to control commodity prices.”