Bangladesh Investment Development Authority (Bida), Access to Information (a2i) and Bangladesh Automobile Assemblers and Manufacturers Association (Baama) have jointly signed a document to develop the light engineering sector of Bangladesh.
Light engineering means manufacturing that turns pre-fabricated goods into saleable products.
Under the Memorandum of Understanding (MoU), these three organisations will work on research and development of the sector which includes identifying products, reviewing successes, analysing the needs and abilities of the market and specifying areas to invest in.
Bida Secretary Dr Abdul Hamid, Policy Advisor of the government's a2i Anir Chowdhury, and Baama Senior Vice President Taskin Ahmed signed the MoU during a programme at the capital's Pan Pacific Sonargaon Hotel today.
Prime Minister Sheikh Hasina on January 1 announced "Light Engineering" as the product of the year and instructed the relevant authorities to manufacture bicycles, motorcycles, automobile, auto parts, electronic items, solar photo-vaulting modules, batteries and toys.
She also directed the authorities concerned to give special attention to this sector for earning more foreign exchange through exporting various products.