USAID study identifies BD's six promising sectors beyond RMG

FE Online Report | Published: November 05, 2019 20:53:05 | Updated: November 07, 2019 12:06:37

The United States Agency for International Development (USAID) has identified six promising sectors which can play a vital role to further boost the economy of Bangladesh.

USAID’s Comprehensive Private Sector Assessment (PSA) identified agribusiness (food processing), health care, information and communications technology and outsourcing, light engineering, pharmaceuticals and tourism as the most promising sectors beyond the ready-made garments (RMG) sector for private sector engagement and investment.

The study report was revealed at a function on Tuesday in Dhaka. Commerce Minister Tipu Munshi, USAID Deputy Administrator Bonnie Glick, and US Deputy Chief of Mission JoAnne Wagner attended the programme.

According to a press release, The USAID conducted the assessment as part of bilateral support towards strengthening Bangladesh’s economy through diversification.

The PSA’s findings support the Government of Bangladesh’s economic diversification reforms initiative and help the private sector deepen its engagement with the government and other stakeholders in order to further promote Bangladesh’s economic growth, the press release said.

"The US Embassy in Bangladesh, through USAID and other sections and in collaboration with the government of Bangladesh, will analyse the identified sectors in the PSA to explore strategies for investment and engagement with the private sector," it said.

The PSA, conducted between October 2018 and July 2019, evaluated a total of 16 emerging sectors of Bangladesh, including ceramics, entrepreneurship, leather and leather goods, medical equipment, plastic, renewable energy and energy efficiency, shipbuilding, shrimp and fish, telecommunications, and vehicle assembly.

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