Industrialization In Bangladesh

Industrialization In Bangladesh

Background of Bangladesh

Bangladesh is an underdeveloped country. The country is industrially backward. Long colonial rule stood in the way of industrialization here. After Independence, lack of technological know-how, lack of resources, political instability, and infrastructural backwardness are the main obstacles to industrialization in our country. Many new and heavy industries have also been set up at private enterprises which are remarkably contributing to our national economy. industrialization in Bangladesh.

Problems of Industrialisation in Bangladesh

Bangladesh is mainly an agricultural country. Agriculture has always been give priority and as result industries have been ignored.

(i)Lack of capital: Bangladesh is a poor country, people ‘s saving is very low. As saving is very poor, investment is also very low. Again people ‘s per capita income is very low. So their consumption is also very low. Consequently, local market-oriented industries are also very thin here.

Poor infrastructure

Structural facilities in our country are also poor. Power supply, telecommunication, transport, gas, water supply, etc. All facilities are poor which has hindered the process of industrialization in Bangladesh. Technological Know-how: Lack of technological know-how is also another reason for our industry’s backwardness.  Political instability and lack of proper govt.

policy

A good govt.policy and political stability are a precondition for industrialization. Unfortunately, political anarchy and instability have always been a common phenomenon here. Besides, no govt. Have planned or implemented an industry-oriented policy. industrialization in Bangladesh

Industrialization

Current scenario: Bangladesh must develop and important a good investment-friendly environment so that foreign direct investment increases here. We have also to set up new export processing zones and improve investment increases in Infrastructural facilities.

Political stability must be ensured. Our human resources should be made skilled and more training and technical Institutes should be set up for this.Govt.can encourage privatization and give incentives in exported goods.one-stop center for the industrialists and investors can be a positive step.

Our economic and industries policy needs modification so that local industries are protected and they get a favorite market for growth. We have vast human resources. Only a good govt.policy and environment can speed up industrialization and create employment opportunities for millions.

Rapid industrialization can develop our socio-economic condition. But considering our natural and financial constraints and huge pressure for employment, we should focus on small and medium level export-oriented and labor thick industries.

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