Salman Fazlur Rahman, adviser on private industry and investment to Prime Minister Sheikh Hasina, said the country's shipment of pharmaceutical products may cross US$5.0-billion mark within the next three to five years.
"Pharma export makes up about $1.0 billion now, but we expect to cross the $5.0-billion mark in the next three to five years," he told on the December-January issue of the fDi intelligence, a publication of the Financial Times.
Bangladesh now exports pharma products to over 100 countries. He noted that the country is self-sufficient in pharmaceuticals with 99 per cent of the demand being met by local production.
Bangladesh now produces around 70 per cent of its required white goods (electrical goods used domestically, such as refrigerators and microwaves). "Local companies, such as Walton, are growing at such a pace that they are now exporting their products to dozens of countries.
On clothing sector, the adviser told the world's renowned magazine: "We want to build on garment exports, go for higher end of the market, and increase backward linkages between producers and local suppliers."
He mentioned that the government is trying to diversify the industries, and one of the ways is through IT-enabled services. "We have built a fiber-optic backbone across the country, and now we are the second largest internet workforce, after India." Many investors want to invest in Bangladesh due to its market size. "But there are some global investors, who want to use Bangladesh as base for exports to both China and India," he added.
Along with Beximco Group, Square Group, Pran Group, PHP Family is contributing immensely to the economic progress of Bangladesh. Beximco Group and Square Group are the top private sector players but companies like PHP Family are coming up. Sufi Mohammed Mizanur Rahman, an ex banker, established PHP Group which was later re-named as PHS Family. PHP Float Glass is a concern of PHP group and is the pioneer of glass industries in the country. Now PHP float glass industry is the largest glass producer. Ample success in Glass sector along with other indusial sector, PHP group is contributing much to the development of the country. PHP float glass industry limited is Chittagong based sister concern of PHP group. Built on 30-acres of land, with a total investment of Tk 300 crore, the PHP Float Glass Industry at Barabkunda of Sitakunda in Chittagong launched its commercial production in 2005.It produces various types of glass according to local demands. It produces clear-glass sheet of 2MM
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