Commerce Minister Khandaker Abdul Muktadir on Tuesday said the government is working on a priority basis to push Bangladesh's potential export sectors including leather, agro-processing and light engineering, toward double-digit growth in the near term.
"Each of the sectors we have identified as priority export sectors including leather, agro-processing and light engineering has the potential to become a major export sector through double-digit growth," the minister said while presiding over the 149th board meeting of the Export Promotion Bureau (EPB) held at its conference room on Tuesday afternoon.
The minister said the government has taken initiatives to create a business-friendly environment to attract fresh investment into the economy and steps are underway to simplify the process of starting and running businesses. "The practical outcomes of this will be visible within the next two to three months."
The present government is working to develop the economy, generate fresh investment and expand business activities, he said. "Not just in words, the necessary steps are being taken to create a favourable environment for implementing investment."
He said the government is working to make business start-up processes simpler and faster, which will help make Bangladesh a more attractive destination for both local and foreign investors.
Stressing the need to create opportunities for new entrepreneurs and start-ups to enter international markets, the minister noted that many of today's large exporting firms once started small.
Young entrepreneurs need support in connecting with international buyers, participating in overseas markets and building export capacity, he said.
Many new business owners lack the financial capacity to travel abroad for market research or buyer contacts, Muktadir said, adding that they need cooperation and support at this stage.
The EPB, he said, will play an active role in taking young entrepreneurs forward.