Rajshahi: Prime Minister's Finance and Planning Adviser Dr Rashed Al Mahmud Titumir today announced that the government has successfully removed significant investment barriers and implemented strategic policy measures aimed at transforming Rajshahi and the northern region into a thriving industrial and investment hub. He urged local entrepreneurs to seize the opportunity created by the enhanced business environment.
According to Bangladesh Sangbad Sangstha, Dr. Titumir made these comments at a regional conference on agro-processing, held at the Rajshahi Primary Teachers' Training Institute, where he served as the chief guest. The event was co-organised by the Bangladesh Investment Development Authority (BIDA) and Swisscontact. Dr. Titumir emphasized the government's commitment to not only revitalize the economy but also to lay a sturdy foundation for sustainable prosperity, highlighting the importance of balanced regional development as a key election promise.
Dr. Titumir revealed the government's ambitious target to transform Bangladesh into a US$1 trillion economy by 2034, focusing on establishing a stable and predictable investment environment. Strategic priorities include policy continuity, evidenced by the introduction of a five-year tax framework in the national budget, aimed at providing clarity for investors to make long-term business plans. He also mentioned efforts to simplify business procedures through deregulation and an online tracking system, eliminating excessive regulatory obstacles.
Additionally, Dr. Titumir noted ongoing reforms in the banking sector and capital markets to address past irregularities, with efforts to strengthen institutions like the Bangladesh Securities and Exchange Commission (BSEC). He announced a Tk 49,000 crore refinancing program and other financial initiatives to bolster investment, particularly in agro-based industries in the northern region, with Tk 3,000 crore allocated for this purpose.
Dr. Titumir stressed the importance of digitising tax, VAT, and customs systems to minimize bureaucratic delays and facilitate online business procedures. He highlighted the potential of Rajshahi for solar power generation and infrastructure modernization, including railway connectivity improvements to expedite goods transportation to major ports.
He concluded by emphasizing the need for the northern region to evolve from a producer of raw agricultural commodities to a hub of agro-processing industries, leveraging opportunities in potato, maize, mango, and litchi processing, among others. Dr. Titumir encouraged entrepreneurs to take the lead, with government support available for various business scales, and highlighted continuous efforts to maintain policy consistency and address investment challenges.
The conference was chaired by Rajshahi Divisional Commissioner Dr. A N M Bazlur Rashid and featured speeches by several officials and local entrepreneurs.