Full-fledged functioning of the Bangladesh, Bhutan, India and Nepal (BBIN) regional road connectivity in near future would pave the way for boosting industrialisation in Rangpur region and international trade.
Former FBCCI Vice-president Mostafa Azad Chowdhury Babu said functioning of the regional BBIN road connectivity would attract foreign investors for industrialisation on joint ventures in the region to create huge jobs for unemployed youths, reports BSS.
“The Rangpur region is characterised by its prospective agro-based economy and investment-friendly atmosphere feasible for setting up multi-dimensional agro-based and other industries on private sector joint ventures,” he said.
The fertile agrarian Rangpur region produces huge rice, wheat, maize, jute, sugarcane, mango, jack-fruit, banana, papaya and vegetables like potato, tomato and bean every year with abundance of cheap labour.
“The abundance of agro- products round the year can attract local and foreign investors to set up food-processing and agro-based industries for marketing products locally and exporting to the BBIN region and the globe as a whole,” Babu added.
Industrialist Babu, also a former President of Rangpur Chamber of Commerce and Industry (RCCI), said increased cultivation of vegetables and fruits in the region could supply raw materials to the agro-processing industries round the year.
He invited investors of the BBIN countries to set up large, medium and small-scale industries on joint ventures in Rangpur region having huge resources to explore local as well as foreign markets to boost regional economy, relation and development.
President of RCCI Mostafa Sohrab Chowdhury Titu said, “The BBIN connectivity is a reality as construction of roads has already been completed in Indian part and the process is progressing fast in Bangladesh part under the regional connectivity programme.”
Titu called upon the entrepreneurs of BBIN countries for joint investments in the agro-processing, auto brick kiln, light engineering, producing orange jelly, maize powder, house wares and other prospective sectors in Rangpur region.
He said, “The farmers of Rangpur region require substantial amount of fertilisers, pesticides and herbicides as its economy is mainly based on agriculture round the year.”
“But, there are no such industries in Rangpur region,” Titu said adding that the fertiliser and pesticide industries could be established on joint ventures in order to absorb some part of labour force and fulfill demand of these products in the region.
The present government has already started the process of setting up a special economic zone in Rangpur to attract both local and foreign investors for industrialisation.
“The process of establishing an IT Park in Rangpur has also begun to create jobs for 5,000 educated youths and encourage the private investors to launch joint ventures in the IT sector,” Titu said.
Side by side with utilising the BBIN road connectivity, Titu suggested the investors to explore potential of Uttara Export Processing Zone (EPZ), Syedpur airport and five major
land ports located in Rangpur division for industrialisation on joint investments.
Senior vice-president of RCCI Mostoba Hossain Ripan appreciated the government for taking initiatives to upgrade Syedpur airport situated near the Uttara EPZ, 42-kilometre off from Rangpur city, to an international standard airport.
“Taking the advantage of running cargo aircrafts from Syedpur airport and BBIN road connectivity, entrepreneurs from its member countries would be inspired in setting up
industries in Rangpur region on private sector joint ventures,” Ripon hoped.