Productivity enhancement and diversification of local industries needed for LDC graduation: Speakers

Industry Desk: Speakers at a workshop in Sylhet yesterday called for reaping the full potentials of local agriculture, tourism as well as geographic location to enhance the economic growth of the region.
Simultaneously, they called for creating a business-friendly environment for the non-resident Bangladeshis (NRBs) for attracting investment from them.
Support to Sustainable Graduation Project (SSGP) of the Economic Relations Division (ERD) organized the workshop styled “Local Level Stakeholders Consultation on Inclusive, Smooth and Sustainable LDC Graduation” at Sylhet Circuit House Conference Room in collaboration with the district administration as well as the Sylhet Chamber of Commerce and Industry (SCCI).
ERD Secretary Sharifa Khan graced the occasion as chief guest while President of SCCI Tahmin Ahmed attended the event as special guest. Deputy Commissioner (DC) of Sylhet Md. Mozibor Rahman chaired the workshop, said a press release.
Speaking on the occasion, ERD Secretary Sharifa Khan termed LDC graduation as a matter of pride for the country.
Recalling that Bangladesh had been able to successfully tackle various global challenges in the past, she said adding that Bangladesh would similarly be able to maintain the development momentum even after the LDC graduation.
DC Sylhet Md. Mozibor Rahman, in his speech, said that awareness building and sensitization about LDC graduation at the grass root level would help to make the country’s development process more inclusive and sustainable.
President of the SCCI Tahmin Ahmed emphasized on imparting necessary training and skill enhancement of the local population to prepare the country for LDC graduation.
Additional Secretary of the ERD and the Project Director of SSGP Farid Aziz delivered the welcome remarks at the event. He emphasized on sensitizing the local private sector representatives, especially the export-oriented industries about the opportunities to be created by LDC graduation of the country.
Component Manger of SSGP Md. Anwar Hossain delivered a presentation on ‘Inclusive, Smooth and Sustainable LDC Graduation: Challenges and Way forward’ during the workshop.
Chief Executive Officer of BUILD Ferdaus Ara Begum delivered a presentation on ‘Participation of Private Sector and other Stakeholders at Sub-National Levels for Graduation with Momentum: Strategy Going Forward’.
Speakers at the workshop highlighted on the process of LDC graduation as well as its impacts on Bangladesh. They emphasized on productivity enhancement as well as diversification of local industries and export sectors in the context of LDC graduation.
The workshop also discussed on the effective role that can be played by all stakeholders in creating a more business-friendly environment for women entrepreneurs as well as small and medium enterprises.
Upazila Chairman of Sylhet Sadar Alhaj Ashfaque Ahmed, managing director of Baraka Power Ltd. Fahim Ahmed Chowdhury and Associate Professor of the Department of Architecture of the Shahjalal Science and Technology University Subrata Das also spoke at the workshop.
Officials from ERD and SSGP, officials from the district administration as well as the representatives from the private sector and civil society participated in the workshop.
It is notable that Bangladesh met all the criteria for graduation from the LDC status during the triennial review of the Committee for Development Policy (CDP) of the United Nations back in 2018 and 2021.
Consequently, CDP recommended Bangladesh for LDC graduation with a five-year long preparatory period. The recommendation has been duly endorsed by the United Nations Economic and Social Council (ECOSOC).
Subsequently, United Nations General Assembly (UNGA) has taken note of Bangladesh’s graduation recommendation during its 76th session held in November 2021. The country is set to leave the list of LDCs by 2026 after enjoying a preparatory period of five years.
The ERD with support from SSGP has been organizing a series of workshops at the local level to sensitize the grass-root level stakeholders regarding the process and opportunities of LDC graduation as well as to discuss on how the local level stakeholders can be involved in the process of ensuring smooth and sustainable LDC graduation.