WarWolf
December 19, 2007, 12:24 PM
First let me tell one thing. I am not an economist. Even don't have any sort of practice in economic analysis. All I know formally about economics is from a 3 credit hour course in university while doing the under-graduate courses. As a normal citizen of Bangladesh (Aam jonotar ek jon hishabe arki), this is very much painful to me looking at the poverty and economic undergrowth. The following questions keep coming in my head over and over again.
1. Why does our industrial sector is so much under-developed?
2. Why do we fail to attract investment in our country?
We,all know some common answers to these questions. Wrong policy of government, lack of one stop service etc etc. Is that all? Don't the businessmen share the guilt?
Most of the liabilities for industrial non-development goes to govenment as free market economy doesn't mean opening the market to all without giving protection to local industries. No foreign investment won't be possible without protecting local market. But all of our previous finance minister failed to understand the issue or acted like that. Our current finance advisor is following his predecessors.
Over last 5 years, atleast 2,000-3,000 new buses have been introduced in the roads of Dhaka for public trasport. While more than 20,000 CNG autorickshaws started their journey on the roads of Dhaka. The most painful part is almost 100% of them are imported while it was very easy to build a motor manufacturing company to meet the needs. Navana, Nitol Niloy etc groups all went to earn fast money by importing the vehicles. It was very much possible if some of those companies tried to seek foreign collaboration for technology exchange. But none of them really did it.
A strange trend started in our country quite some years back and still prevailing there. Taking dealership of world famous consumer companies and getting rich. We failed to establish any kind of brands of Bangladesh's own with a few exception in garment sector. Interestingly none of our businessmen want to establish a big group of company which would be a brand of its own. But the question is why?
Care to share thoughts?
1. Why does our industrial sector is so much under-developed?
2. Why do we fail to attract investment in our country?
We,all know some common answers to these questions. Wrong policy of government, lack of one stop service etc etc. Is that all? Don't the businessmen share the guilt?
Most of the liabilities for industrial non-development goes to govenment as free market economy doesn't mean opening the market to all without giving protection to local industries. No foreign investment won't be possible without protecting local market. But all of our previous finance minister failed to understand the issue or acted like that. Our current finance advisor is following his predecessors.
Over last 5 years, atleast 2,000-3,000 new buses have been introduced in the roads of Dhaka for public trasport. While more than 20,000 CNG autorickshaws started their journey on the roads of Dhaka. The most painful part is almost 100% of them are imported while it was very easy to build a motor manufacturing company to meet the needs. Navana, Nitol Niloy etc groups all went to earn fast money by importing the vehicles. It was very much possible if some of those companies tried to seek foreign collaboration for technology exchange. But none of them really did it.
A strange trend started in our country quite some years back and still prevailing there. Taking dealership of world famous consumer companies and getting rich. We failed to establish any kind of brands of Bangladesh's own with a few exception in garment sector. Interestingly none of our businessmen want to establish a big group of company which would be a brand of its own. But the question is why?
Care to share thoughts?