As mentioned earlier in this report about the adverse consequences of increasing import tendencies in Bangladesh, there we consider some of the solution steps regarding this problem. Bangladesh Govt. has initiated some programs like imposing non-tariff barriers on import of some items. The product that can be produce in Bangladesh efficiently should have this type of barriers.
Bangladesh is primarily an agrarian economy. Agriculture is the single largest producing sector of economy since it comprises about 30% of the country's GDP and employing around 60% of the total labour force. The performance of this sector has an overwhelming impact on major macroeconomic objectives like employment ...view middle of the document...
If our private sector can bring success in maintaining good quality competitive to foreign goods, the market for our local goods would be increased automatically.
In the meantime, quite a number of publicly managed industrial enterprises have already been sold out and transferred to private ownership. In order to establish economically prospective industries in industrial sub-sectors, there are plans to set up industrial parks and special economic zones so that huge amount of unused and abandoned land can be utilized. All this is aimed at fostering industrialization and economic development and generating employment opportunities in the country.
After all assumptions we can conclude the local industry development with some key points stated below:
1) Non-tariff barrier on import of some products that can be manufactured or produce in our own country.
2) Ensuring proper benefits for our farmers so that they will be encouraged to in involve in farming.
3) Encouraging our private sector for coming up with their innovations and technology so that product of export quality can be produced by our manpower in our country which in turn would increase employment for our people.
4) Also our agricultural sector faces some difficulties for natural calamities. The Govt. should manage some training program for our farmers so that they can make proper utilization of land in proper season with right seeding.
5) Catering the needs for local and foreign market and also for consumer satisfaction of the local products; measures to be undertaken
(a) Produce world class quality products,
(b) Diversification of goods,
(c) Introduce cost-effective management in the production system,
(d) More value addition in the industrial sector, and
(e) Provide support for enhancing productivity by using continuous, appropriate and advanced technology