UK’s industrial strategy to help strengthen economic ties with Bangladesh: Envoy
The UK’s modern industrial strategy sets out a ten-year plan to boost investment in the UK
The UK's modern Industrial Strategy will help strengthen the already strong economic ties between Bangladesh and the United Kingdom (UK), British High Commissioner to Bangladesh Sarah Cooke said today (24 June).
"The UK's modern Industrial Strategy is our ten-year plan to strengthen infrastructure, reduce costs for businesses and simplify regulation. The Strategy will help strengthen the already strong economic ties between UK and Bangladesh," she said while commenting on the new strategy.
The UK's modern Industrial Strategy unveiled on 23 June sets out a ten-year plan to boost investment in the UK, create good skilled jobs and make Britain the best place to do business, reads a press release issued by the British High Commission in Dhaka.
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The strategy includes targeted support that has the greatest potential to grow, while introducing reforms that will make it easier for all businesses to get ahead.
The plan focuses on eight sectors where the UK is already strong and there's potential for faster growth: Advanced Manufacturing, Clean Energy Industries, Creative Industries, Defence, Digital and Technologies, Financial Services, Life Sciences and Professional and Business Services.
Each growth sector has a bespoke 10-year plan that will attract investment, enable growth and create high-quality, well-paid jobs.
British Prime Minister Keir Starmer said this Industrial Strategy marks a turning point for Britain's economy and a clear break from the short-termism and sticking plasters of the past.
"In an era of global economic instability, it delivers the long term certainty and direction British businesses need to invest, innovate and create good jobs that put more money in people's pockets as part of the plan for change," he said.
"This is how we power Britain's future - by backing the sectors where we lead, removing the barriers that hold us back, and setting out a clear path to build a stronger economy that works for working people. Our message is clear - Britain is back and open for business."
The Strategy's bold plan of action includes slashing electricity costs by up to 25% from 2027 for electricity-intensive manufacturers in growth sectors and foundational industries in their supply chain, bringing costs more closely in line with other major economies in Europe.
