Rangpur, Sept 19 (V7N) – Bangladesh Bank (BB) Governor Md Mostaqur Rahman today said that the private sector plays a vital role in accelerating the country's economic development and job creation, calling upon banks, entrepreneurs, institutions and all stakeholders to work in a coordinated manner to implement the "One Village, One Product" concept for strengthening the rural economy.
The Governor made the remarks while addressing as chief guest a views exchange meeting held at the Bangladesh Bank office in Rangpur regarding effective implementation of the incentive package announced by BB for private sector development. The Rangpur office of Bangladesh Bank organised the event for stakeholders of the Rangpur region, aiming to foster private sector development, create entrepreneurs, boost employment and revitalize the local economy.
Executive Director of BB Rangpur office Md Salah Uddin presided over the meeting.
Bankers, civil society representatives, entrepreneurs, businesspeople, farmers' representatives, heads of various government institutions, other stakeholders and journalists from Rangpur division participated in the event. The participants shared their views, experiences and forwarded suggestions regarding private sector development, financing for entrepreneurs, expansion of local production and trade, and effective implementation of the incentive package announced by BB.
The meeting placed special emphasis on the "One Village, One Product" concept, focusing on identifying promising local products and entrepreneurs, increasing production, expanding markets and ensuring necessary financing. Discussions also covered branding and marketing locally produced goods with high potential to reach wider domestic and international markets, as well as bringing the relevant entrepreneurs under the banking umbrella.
The BB Governor called upon all stakeholders to work in a coordinated manner to implement the "One Village, One Product" concept for effective implementation of the incentive package announced by BB for private sector development. He also advised using the hotline number **16236** for direct communication between customers and Bangladesh Bank.
He urged the concerned banks to take effective measures to ensure that the benefits of the incentive package announced by Bangladesh Bank reach genuine and deserving entrepreneurs. At the same time, he put special emphasis on expanding markets for products manufactured by entrepreneurs, facilitating access to finance, and further invigorating local economic activities.
The meeting underscored the need for coordinated efforts among all stakeholders to foster initiatives such as:
- Establishment of cold storage facilities in Rangpur region
- Development of renewable energy
- Promotion of export-oriented agricultural and industrial products
- Human resource development
The "One Village, One Product" (OVOP) concept, originally developed in Japan, aims to revitalize rural economies by identifying and promoting unique local products. The Bangladesh government has been promoting this concept as part of its broader strategy to boost rural incomes, create employment opportunities, and reduce poverty. The Bangladesh Bank has announced various incentive packages to support private sector development, including low-interest loans for small and medium enterprises, refinancing schemes for agriculture and rural credit, and special funds for export-oriented industries.
