Help for Bangladeshi exporters
The project will help clusters of companies manufacturing footwear, leathergoods and other products.
The government of Bangladesh has launched a ‘Public Investment Facility for Infrastructure Constraints’ (Pific) project through which it aims to provide infrastructure support to export-oriented firms.
Commerce minister Tipu Munshi launched the scheme – reported to be worth £30.3 million ($40 million) – for companies producing footwear, leather, leathergoods, light engineering and plastics, as well as businesses in other sectors which need such assistance. According to Mr Munshi, the project will create jobs for many people.
Rather than being used to facilitate an individual company, the fund will be spent on clusters, so that all the industrial units of a particular area can benefit from the new facilities. The agency responsible for implementing the project will build access roads to reduce transport costs, in addition to upgrading water and wastewater services, treatment plants and connections. Waste management facilities, recycling centres, power transmission hubs, telecom connectivity and warehouse facilities will also be developed, according to plans for the scheme. Commerce secretary Jafar Uddin commented that the government has taken this initiative mainly to help local exporters become competitive globally.
This article was originally published on page 3 of the January 2021 issue of SATRA Bulletin.