President Abdul Hamid on Tuesday said there is no alternative to development of private sector to achieve the desired goal in industrialisation of the country.

‘The industrialisation pace in the country will gain further pace as much as the private sector gets stronger and faster,’ he said, reports the UNB. 

The President made the remarks while delivering his speech at a ceremony of ‘President’s Award for Industrial Development’ at Osmani Memorial Auditorium in the capital.

He further said, ‘The government has been providing various incentives to the private sector and entrepreneurs considering this fact. The entrepreneurs in SME sector are given a single digit interest loan, while women entrepreneurs in this sector are given collateral-free loan. Plots are also given to them on priority basis.  This President’s Industrial Development Award is also part of the incentives.’

Hamid said the government is setting up 100 special economic zones to achieve the target of sustainable and environment-friendly industrialisation. 

‘Alongside creating some one crore jobs, the government has targeted to raise the export volume to US$ 40 billion by setting up the special economic zones. So, most plots in these economic zones are being allocated for private entrepreneurs,’ the President added.

He mentioned that local and foreign investment is on the rise because of tax exemption and other government incentives provided to investors. 

Referring to the growth of Green industrialisation, ‘This has been possible as the government is trying to ensure a visionary and entrepreneur-friendly policy. The country is also moving forward in the garment, leather, shipbuilding, bicycle, shipbreaking industry. Some of the industries such as ceramic, plastic, furniture, electronic products have achieved the world standards and are being exported.’   

President Abdul Hamid distributed ‘President’s Award for Industrial Development 2016’ to 13 industrial units in six categories for their contributions to the economy in the programme.

Fariha Spinning Mills from Narayanganj received the top award in the large industry category, while Spectra Engineers Limited and Envoy Textile Limited the second and third ones in this category.

BRB Polymer Limited, Chittagong Denim Mills Limited, Basumati Distribution Limited were awarded the first, second and third prizes respectively in the medium-sized industry category.

In the small industry category, the winners were Runner Automobiles from Mymensingh, Oco-Tex Limited from Gazipur and Abul Industries. Smart Leather Products was the lone company recognized in the new micro-industry category.

Super Star Electrical Accessories Limited from Narayanganj and Service Engine Limited from Dhaka were awarded under the hi-tech category, while Karupanno Weaving Factory was the lone awardee in the cottage industry category.

Industries Minister Amir Hossain Amu, Industries Secretary Muhammad Abdullah, representatives of the award winner industrial units and the secretaries concerned to the President`s Office were present on the occasion.

Earlier, the Industries Minister presented a crest to the President.

Managing Director of Fariha Spinning Mills Monir Hossain spoke on behalf of industrialists.