Poster in Aug 23, 2022 16:31:26

Want to build many new factories: The top group in the billion dollar club

Want to build many new factories: The top group in the billion dollar club

Mr. Mustafa Kamal, Chairman, Meghna Group of Industries (MGI), Bangladesh. Picture: Collected.

We have been expanding our factories regularly to reduce import dependency. It has to import a large amount of raw materials every year. Increase in raw material import means value addition and employment generation in the country. Decrease in import of manufactured goods.

Not only the Meghna Group of Industries, but the more the private sector expands, the more the dependence on imports will decrease. Product exports will increase. Along with that, employment will also increase.

Building new factories in the country to reduce import dependence is a kind of addiction of mine. After two economic zones in Narayanganj, now we have started the construction of Comilla Economic Zone. New factories including steel and glass will be built there. Employment of many people will be created.


We have been going through difficult times since the beginning of the Russia-Ukraine war. The wave of the global economic crisis has come to us here as well. There is volatility in the prices of products and raw materials in the world market. The dollar exchange rate in the country has also increased abnormally. The large groups are incurring huge additional costs to pay the import liability.

We don't want to stop even after such a crisis. I want to face the crisis and move forward. Because, if the private sector stops, the country's employment will also stop. The progress of the country will be hindered. Government policy support is needed during the current crisis. At least in the case of importing daily necessities, we should ensure that we get the opportunity to buy dollars at the fixed price of Bangladesh Bank. If that is the case, we will be able to carry out the rest of the work as entrepreneurs.

|Source: Online/KSU

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