The 'President's Award for Industrial Development 2019' is slated for Thursday, 4 November by the Ministry of Industries, after the event was postponed last year due to the Covid-19 pandemic.
President Abdul Hamid will attend the award ceremony virtually by connecting with the event venue, Osmani Memorial Auditorium.
The purpose of this award is to recognise the contribution of 19 private industrial organisations to the economy, officials said.
In a press briefing on Wednesday, Industries Minister Nurul Majid Mahmud Humayun said there is no alternative to producing quality products if the free-market economy is to survive.
"Many companies in the country's industry are now doing well in the world market. Their contribution to the country's economy is commendable. We want their position to be stronger," he added.
Responding to a media query the minister said, "As all the government industries are running well and no layoffs happened, we can't say all these are lost projects. These companies are more focused on people's welfare than on making a profit. So, you cannot conclude that the projects are futile."
Industry Secretary Zakia Sultana said, "The award is given to a total of 19 companies each year according to the classification of industrial establishments. "
BRB Cable Industries Ltd and British American Tobacco Bangladesh Company jointly took 1st place in the category of large industries. Mir Ceramic Ltd took 2nd place, and Jaber & Jobayer Fabrics Ltd stood 3rd in the same category.
Bengal Polymer Wares Ltd and Noman Terry Towel Mills Ltd took 1st and 2nd place respectively in the medium industry category.
Coco-Tex Ltd and Crimson Rosella Sea Food Ltd were in 3rd position jointly.
In the small industry category, Promi Agro Foods Ltd came 1st, followed by Madhobdi Dyeing Finishing Mills Ltd and APS Holding Ltd.
Moscow Dairy Enterprise topped the micro-industry category with Khan Bakelite Products and Raven Agro Chemicals taking 2nd and 3rd position respectively.
CORR the Jute Works came 1st in the cottage industry category, and Samsunnahar Textile Mills placed 2nd.
In the hi-tech industry category, Walton Hi-Tech Industries Ltd clinched the top position with Information Technology Consultants Ltd coming 2nd, and Summit Communications Ltd at the 3rd position.
To encourage entrepreneurship and creativity in the private sector, the 'Guidelines for Awarding the President's Industrial Development Award' was formed in 2013.
Then in 2015, for the first time, the best 12 industrial entrepreneurs were awarded the 'President's Award for Industrial Development'.
Following the trend, the ministry of industries is set to present the award for the fifth time.