|
Bangladesh
/ Economy / Industry
The
county was one of the major exporters of textiles, silk and sugar
till the eighteenth century but the industrialization process
was subsequently halted during the 200 years of colonial exploitation.
As a result, Bangladesh inherited a narrow industrial base when
it became independent in 1971.
It
has a good number of large, medium and small-sized industries
in both public and private sectors based on both indigenous and
imported raw materials. Among them are jute, cotton, textile,
fertilizer, engineering, shipbuilding, steel, oil-refinery, paper,
newsprint, sugar, chemicals, cement and leather. Jute Industry
has traditionally played an important role in the national economy.
But in recent years, Ready Made Garments Industry has replaced
Jute as the principal export-earner for the country. Considerable
progress has been attained in the past few years in industries
such as leather, ceramic, shrimp, fish, pharmaceuticals and frozen
food.
With
the development of infrastructures, supportive policies for trade
and investment and comparative advantage in labour-intensive Industries,
excellent prospects for investment exist in Bangladesh today.
Industrial growth was recorded at 81% during 1997-98. Foreign
investors are pouring into the country in greater numbers everday,
especially in the export processing zones special facilties existing
at Dhaka and Chittagong.
To
attract local and foreign investors, the present government has
introduced a number of perks and incentives. These include provision
for setting up export processing zones in the private sector,
initiatives to set up new EPZs in the public sector, tax holiday
for export—oriented industries, scope for 100 percent foreign
investments and repatriation of profits. etc.
Due
to the present economic necessity and past experiences, privatization
of state—owned enterprises are being geared up by the present
government.
More on economy:
This page: http://www.cockatoo.com/bangladesh/e-01land/eb-lan14_d.htm
|
