DHAKA, Nov 5, 2019 (BSS) – A USAID study here identified six promising
industries beyond the ready-made garments (RMG) to help Bangladesh diversify
its export basket to stimulate new streams of economic growth.
The study named Comprehensive Private Sector Assessment (PSA) identified
agribusiness (food processing), health care, information and communications
technology and outsourcing, light engineering, pharmaceuticals, and tourism
as most promising industries beyond the RMG for private sector engagement and
investment.
This was revealed today as USAID launched the report at American Chamber
of Commerce in Bangladesh (AmCham) here in presence of visiting USAID Deputy
Administrator Bonnie Glick and US Deputy Chief of Mission here JoAnne Wagner,
a US Embassy press release said.
The US government through the USAID (US Agency for International
Development) conducted the study in a show of bilateral support towards
strengthening Bangladesh’s economy through diversification, said the release.
The study examined 16 emerging sectors in total, that also includes
ceramics, entrepreneurship, leather and leather goods, medical equipment,
plastic, renewable energy and energy efficiency, shipbuilding, shrimp and
fish, telecommunications and vehicle assembly.
The assessment did not cover some traditional industries, including the
energy sector as a whole, the release added.
The US Embassy in Bangladesh, through USAID and other sections and in
collaboration with Bangladesh Government, will analyze the priority sectors
identified in the PSA to explore specific strategies for investment and
increased engagement with the local private sector in these fields.
It is expected that the PSA’s findings will support the Government of
Bangladesh’s economic diversification reforms initiative and help the private
sector deepen its engagement with the government and other stakeholders in
order to further promote Bangladesh’s economic growth.
The PSA was conducted by Inspira Advocacy and Consultancy Ltd., a
Bangladeshi private consultation firm between October 2018 and July 2019.