Pvt sector should invest in R&D: Policymakers

The private sector has no alternative but to invest in research and development (R&D) to increase product quality and build trust in their businesses, policymakers and experts said at a discussion on Sunday.

"Large companies in the country are earning thousands of crores of taka but not spending anything on R&D. They are just waiting for the government to do all the things for them," said Mirza Mofazzal Islam, director general of the Bangladesh Institute of Nuclear Agriculture (Bina), at the IFC 10th International Food Safety Forum.

"They should invest heavily in R&D in collaboration with various universities," he added at the discussion organised by the International Finance Corporation (IFC) in cooperation with the Bangladesh Food Safety Authority (BFSA).

At the programme, the speakers also said that the private sector is not focused on selling the same quality products in the local market that it exports.

Zakir Uz Zaman, national project coordinator at the United Nations Industrial Development Organization (UNIDO), a specialised UN agency to assist countries in economic and industrial development, said, "Bangladesh is constantly creating a good position by exporting better quality products. However, it should be observed whether the quality products being exported are available in the country or not."

BFSA member Manzoor Morshed Ahmed said, "Our processed food sector is vulnerable. What we are eating locally is a matter of concern."

Md Abdul Kayowm Sarker, chairman of the BSFA, said, "We have to produce food for more people in less space. Still, we are in a good position in production."

"Again, there is an effect of climate change. Even in this situation, we have to take up the challenge to increase the quality of food," he added.

Addressing the programme, Food Minister Sadhan Chandra Majumder said everything from production to processing should be fixed for safe food.

For this reason, the government is adopting various policies, of which, along with their implementation, common people also need to be aware, he added.

The minister said, "We need proper research and development. Adequate investment is needed for capacity building and science-based research. In this case, we can think about digital and smart investment."