Manifesto 2024:  AL’s Industrial Blueprint Unveiled

The Awami League’s commitment to industrial development, as outlined in their 2024 Election Manifesto, reflects a transformative journey over the past 15 years

On December 27, 2023, the Awami League revealed its eagerly awaited manifesto titled ‘Smart Bangladesh: Unnoyon Drisshoman, Barbe Ebar Kormoshongsthan.’ In this extensive document, the 5th prioritized area is marked by the emphasis on expanding the industry through visible infrastructure and increased investment. The Election Manifesto 2024 seeks to present a transformative vision of the government’s achievements under the leadership of the Awami League over the last 15 years.

Industrial Progress Under Awami League Government

Since assuming office in the Awami League government in 2009, Bangladesh has made significant strides in industrial production. Over three consecutive terms, crucial infrastructures essential for the transition to an industrialized nation have been established. With a wealth of educated youth and a seasoned population, Bangladesh finds itself in a demographic dividend. Guided by the Awami League’s leadership, the entire nation is poised for the triumph of achieving industrialized status. Through harnessing the technological advantages of the fourth industrial revolution, utilizing indigenous raw materials to replace labor-intensive imports, and embracing export-oriented industrialization, the country is set to progress along the path to becoming a high-income nation by 2041. This transformation will not only generate substantial employment but also elevate people’s income levels, leading to an expansion of the domestic market. The extensive industrialization effort will introduce new products to the national economy, thereby enhancing export markets through diversification. Under the leadership of Sheikh Hasina, Bangladesh will gradually transition towards the production of heavy industry.

Bangladesh has become the global capital of the garment industry, witnessing substantial growth in the last 15 years through the implementation of various regulations. A ten-year National Productivity Master Plan aims to enhance overall productivity, emphasizing environmental protection with waste treatment plants. The industrial sector’s contribution to GDP has risen from 26.53% to 36.92%, with plans for further expansion. Quality certification for essential products, industrial city development, and initiatives to relocate industries reflect ongoing efforts. Economic zones, hi-tech parks, and partnerships with friendly countries contribute to Bangladesh’s industrial advancement.

The following discusses in detail industrial progress under the Awami League government.

• Bangladesh has earned the title of the global garment industry capital.
• Over the past 15 years, the industry has seen the formulation of 17 Acts, 20 Rules, 2 Guidelines, 5 Instructions, and 6 Regulations to foster its development.
• The country is actively producing televisions, refrigerators, household appliances, motorcycles, light appliances, mobile phones, and various electronic products, significantly reducing its reliance on imports.
• A ‘National Productivity Master Plan’ spanning a decade has been devised to enhance national-level productivity.
• Environmental protection is prioritized with the mandatory establishment of waste treatment plants in all industrial establishments.
• From 26.53 percent in FY 2008-09 to 36.92 percent in 2021-22, the industrial sector’s contribution to the GDP has increased by 10.39 percent, and plans aim to further boost its role in the national economy.
• Responding to consumer demand, 43 new daily essential products have been mandated to hold BSTI’s quality certificate, and a world-class National Metrology Laboratory has been established at BSTI with UNIDO’s support.
• Across the country, 80 industrial cities have been established, providing 12,313 industrial plots to create an environmentally friendly industrial sector.
• Temporary warehouses at Kathaldia in Tongi and Shyampur in the capital, along with the Basic Chemical Industrial Park project in Munshiganj’s Sirajdi, aim to ensure the safe storage of hazardous chemicals.
• Dedicated Light Engineering Industrial Parks are being established in Dhaka, Narayanganj, Jessore, Bogra, and Narsingdi to address the unplanned development of the light engineering industry.
• Despite numerous challenges, efforts are underway to relocate the tannery industry from Hazaribagh to an eco-friendly tannery city in Savar, and two additional tanneries are being established in Chittagong and Rajshahi.
• Seventeen products have received recognition as GI (Geographical Indication) products, safeguarding their geographical indication ownership.
• The global ban on environmentally harmful polythene and plastic products has increased the demand for eco-friendly jute products, leading to innovative uses like sarees, bags, shoes, curtains, bed covers, and furniture.
• The government’s program to establish 100 economic zones for planned industrialization is underway, with 11 already operational and 28 in progress, aiming to boost export earnings by $40 billion and create employment for 1 crore workers.
• Manufacturing growth has surged from 6.69 percent in FY 2008-09 to 11.41 percent in FY 2021-22, reaching its peak at 12.33 percent in 2018-19.
• Construction of 10 hi-tech parks has been completed, with an additional 92 parks currently in progress.
• Over the last 15 years, 449 industries have been established in EPZs, and 4 economic zones have been reserved for friendly countries: China, Japan, Korea, and India.
• The Ghorashal-Palash Urea Fertilizer Factory, equipped with state-of-the-art technology, has been inaugurated with an annual production capacity of 10 lakh metric tons of urea fertilizer to ensure a steady supply.
• Through a joint venture between Bangladesh Steel and Engineering Corporation (BSEC) and Honda Motors Company of Japan, Honda brand motorcycles, including the Pajero Sport CR-45, are now being manufactured and marketed.

Awami League’s Promises on Industrial Development

Bangladesh, with an annual influx of over 2 million new workforce entrants, aims to boost employment by focusing on the industrial sector’s growth. The Awami League plans to strengthen cottage and small industries, implementing policies to attract entrepreneurs and fostering a competitive market. Initiatives include simplifying company registration, promoting the leather industry for increased exports, preserving traditional crafts, diversifying jute products, and supporting IT industry expansion. Special attention will be given to sectors like blacksmithing and pottery, while a comprehensive survey of the services sector’s potential is deemed essential.

Awami League’s Promises for Industrial Development in the manifesto are discussed below;

• The country witnesses an annual new entry of over 2 million individuals into the workforce. A primary objective of the Awami League involves fostering employment opportunities for each of them through the growth of the industrial sector and the establishment of new industries.

• Cottage, small, and medium industries can create the most employment opportunities. The sector will be made stronger, well-organized, and dynamic by removing barriers, providing training for management skills, and reducing dependence on foreign human resources.

• The Awami League government will formulate appropriate policies and programs to attract the entrepreneurial class. Short-term, medium-term, and long-term visionary plans will be implemented, including competitive market systems, innovative technologies, appropriate physical infrastructure, and internal market expansion policies.

• Simplifying company registration and legal obligations in trade is a focus, with amendments to the Company Act and the provision of virtual court facilities for resolving company-related legal cases. Specialized courts will be established in all divisional cities of the country.

• In Bangladesh’s economy, the leather and leather products sector stands as the second-largest foreign exchange earner. The government has a target of achieving a $5 billion export income from this sector by 2024, with a robust program aimed at increasing export earnings.

• Preserving small, medium, and cottage industries, along with handloom and sericulture, is vital for enabling competitiveness and expanding employment. Emphasis will be placed on encouraging Banarasi and Jamdani crafts.

• Jute and jute products are experiencing growing global demand due to their environmental friendliness. Diversification of jute products to capitalize on this opportunity will continue, and private sector initiatives in the jute industry will be promoted to ensure profitability.

• Ongoing special initiatives for the development of blacksmiths, potters, and potters will be sustained, with incentives provided as needed for these industries.

• The IT industry’s development, and expansion by adding high-value products to various sectors, including readymade garments, textiles, agro-processing, shipbuilding, pharmaceuticals, leather, and chemicals, is prioritized. The focus will also be on developing new knowledge-based industries such as toys, jewelry, and furniture.

• Conducting a survey and data analysis of the services sector is imperative to grasp its growth and employment potential.

Conclusion

The Awami League’s commitment to industrial development, as outlined in their 2024 Election Manifesto, reflects a transformative journey over the past 15 years. Bangladesh has evolved into a global industrial hub, diversifying production, fostering innovation, and addressing environmental concerns. The manifesto’s focus on employment generation and sector-specific strategies underscores the government’s dedication to sustaining economic growth and elevating Bangladesh to a high-income nation by 2041.