Aug 04 (V7N) - Prime Minister's Finance and Planning Adviser Dr. Rashed Al Mahmud Titumir has announced that the government has eliminated major investment barriers and introduced a series of policy measures to transform Rajshahi and the northern region into a new hub for industry and investment, urging local entrepreneurs to seize the improved business climate.
"The government's goal is not only to recover the economy from recent challenges but also to rebuild it on a stronger foundation to achieve sustainable prosperity," he said while addressing a regional conference on agro-processing in Rajshahi, jointly organized by BIDA and Swisscontact.
Dr. Titumir said the government is working under the vision of "Bangladesh First, Bangladesh with Everyone and Bangladesh for Everyone," with balanced regional development a key priority. He set a target of transforming Bangladesh into a US$1 trillion economy by 2034 and ensuring a stable investment climate.
He outlined five key areas of focus, beginning with policy continuity—highlighting the latest budget's five-year tax framework and equitable incentives for all export-oriented products. "An investor plans for at least five years. We are providing certainty about the state's policy direction," he said.
The adviser said the government is simplifying business procedures through deregulation, with every stage from licensing to factory operation completed within fixed timelines and tracked online. "The government does not want to do business. Its responsibility is to create opportunities, not obstacles," he added.
On financing, he noted reforms in banking and capital markets, with a Tk 49,000 crore refinancing programme, a Tk 19,000 crore Bangladesh Bank fund, and Tk 5,000 crore for CMSMEs. For the northern region, he announced a historic Tk 3,000 crore allocation through Bangladesh Bank to promote agro-based industries—the first such dedicated fund in the country's history.
Dr. Titumir stressed the need to digitize tax, VAT, and customs systems to reduce harassment and delays, and called for developing skilled human resources to meet industrial demand. He highlighted Rajshahi's solar power potential and noted that the Prime Minister has directed government offices to begin using solar energy.
On infrastructure, he said railway connectivity is being modernized to ensure faster goods transport from the north to Chattogram, Mongla, and Payra ports, with plans for dual-gauge rail lines.
He urged the region to move beyond raw commodity production and develop agro-processing industries—citing opportunities in potato, maize, mango, litchi, dairy, flower-based, and stone-based industries. "The government has established the policy framework and removed major investment barriers. Now it is the entrepreneurs who must come forward," he said.
Dr. Titumir also called on development partners to support Bangladesh in addressing non-tariff barriers and advancing FTAs and EPAs in the post-LDC graduation period.
Rajshahi Divisional Commissioner Dr. A N M Bazlur Rashid chaired the programme, with BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun, Rajshahi City Corporation Administrator Md Mahfuzur Rahman Riton, Deputy Commissioner Kazi Shahidul Islam, and local entrepreneurs in attendance.
