PM woos top businesses as govt plans northern agro-processing hub

Business leaders have engaged in discussions with Prime Minister Tarique Rahman on boosting investment and expanding agro-processing industries in northern Bangladesh, highlighting key challenges such as energy shortages, infrastructure gaps, and the need for policy support to improve the overall business environment.

They shared the insights with the premier at the Cabinet Division today (13 April) while holding a series of meetings on fruit, dairy, food and beverages, and poultry. Starting from 11am, Tarique held three rounds of discussions with 16 businessmen of these sectors to explore investment opportunities and policy support.

According to sources at the prime minister's office, the meetings focused on existing challenges and prospects in the agro-processing sector, as well as potential incentives for setting up industries and what initiatives businesses can take in the Rajshahi and the Rangpur divisions.

Prime minister's adviser on finance Rashed Al Mahmud Titumir, Pran-RFL Group Chairman and CEO Ahsan Khan Chowdhury; Transcom Limited Group CEO Simeen Rahman; Nabil Group of Industries Managing Director and CEO Md Aminul Islam; TK Group of Industries Group Director Mohammad Mustafa Haider; Square Food & Beverage Ltd CEO Md Parvez Saiful Islam; Kazi Farms Limited Managing Director Kazi Zahedul Hasan; BRAC Enterprises Managing Director Tamara Hasan Abed; Akij Venture Group Chairman Sk Shamim Uddin; Akij Food & Beverage Limited CEO Sayed Johurul Alam; Lal Teer Seeds Limited Director Tajwar M Awal; and Paragon Limited Managing Director Moshiur Rahman, among others, attended the meetings. 

After the meetings, Titumir told The Business Standard that BNP mentioned balanced regional development in its election manifesto. As part of this, agro, agro-processing and industrial development in the northern region were discussed.

"The PM heard the potential of this sector from businessmen associated with the agro and agro-processing industry. There will be more such meetings in the future," he hoped. 

Square Food & Beverage CEO Parvez told TBS that the prime minister sought input on how to boost investment in agro-processing and establish industries in the country's northern region.

"We informed him that Square has been working in the agro-processing industry for 25 years, and about 80% of our raw materials come from local sources," he said. 

"We are planning to set up a factory in Pabna but are unable to proceed due to the lack of gas connections. There are also limited facilities for radiation testing of agricultural products in the country," he said.

Regarding the premier's inquiry about fruit exports from Rajshahi, he replied that they have sought a gas connection to set up a factory there and requested government support for cold storage and maintaining cold chains to reduce post-harvest losses.

He said the prime minister responded positively, directed immediate steps on several issues and sought assistance from the businesses regarding some issues.

Pran-RFL chairman Ahsan told TBS that the prime minister encouraged businesses to invest in the northern region, highlighting the availability of fallow land.

"He [premier] sought our views on what types of benefits could be offered to attract investment. We proposed tax holidays, utility support, and infrastructure development," Ahsan said. 

The prime minister indicated that a tax holiday could be considered for investments in agro-processing in the region, along with establishing testing laboratories for agricultural products and expanding cold storage facilities, he said. 

Ahsan also noted that the prime minister expressed interest in holding another round of discussions within six months to review progress.

Energy crisis and investment climate

During the meetings, the prime minister also listened to business leaders' concerns regarding the ongoing energy crisis and broader investment climate.

Describing the discussions as very sincere and constructive, Transcom Group CEO Simeen said, "The prime minister listened to the businesses' take on the current business environment, investment challenges and opportunities. We highlighted key issues affecting businesses and discussed ways to boost investment and diversify exports, particularly in agro-processing."

She said they presented all the issues one by one, and the prime minister instructed his adviser to address many of them. "We believe this dialogue on easing the business environment and export diversification will be fruitful."

The prime minister also listened to their proposals to solve the issues, she added.

Nabil Group Managing Director Aminul Islam said, "Apart from sharing our own experiences, we have also emphasised setting up an agro-based factory. We have demanded the establishment of an agro-processing economic zone in Rajshahi. I have personally expressed my interest in setting up a mango processing factory. The prime minister has responded positively to all the issues."

Tariq Ahmed, director of TK Group, said, "We have a rice mill in Naogaon. He [Tarique Rahman] wanted to know how to set up more new factories there. He talked about specific agro and agro-processing. We talked about gas connection and increasing infrastructure in that area."

Officials and business leaders expressed optimism that the dialogue would help create a more conducive investment environment and accelerate the development of agro-processing industries in northern Bangladesh.