INDUSTRIALIZATION AND PROBLEMS SCENARIO OF BANGLADESH

INDUSTRIALIZATION AND PROBLEMS SCENARIO OF BANGLADESH

Bangladesh is a huge hidden potential country. It has excess manpower, air water. But the country is industrially backward. There are some reasons behind it some are Lack of technological know-how, lack of resources, political instability, and infrastructural backwardness are main obstacles to industrialization in our country. However, the country has some considerable advancement in small and medium level industries. Now many new and heavy industries have also been set up at private enterprises which are remarkably contributing to our national economy.

Problems of industrialization

Bangladesh has 15 million people. So its primary needs goes to food. So, government primary task is to ensure food security for its mouth. Bangladesh is mainly an agricultural country. Agriculture has always been given priority and as a result industries have been ignored.

 Lack of capital

As Bangladesh being a poor country, people’s saving is very low. As saving is very poor investment is very low. As a result, their consumption is also very low. Therefore local market oriented industries are also very thin here.

Weak investment

By reason of long colonial rule, economic discrimination and post –liberation nationalization of industrialization, the growth of entrepreneurship has been slow in Bangladesh. Moreover, bureaucratic red-tapism and lack of investment climate, capital investment has not been developed up to mark.

Poor infrastructure

Infrastructural facilities in our country are in disaster. Power supply, telecommunication, transport, gas, water supply etc. all facilities are minimum level which have hindered process of industrialization in Bangladesh.

Technological know-how 

Lack of technological know-how is another reason of our industrial backwardness. Education is also a great factor here.

Lack of resources 

Lack of raw materials and natural resources are also unfavorable for our industrialization.

Unskilled human resources 

Bangladesh has a huge population but most of them are uneducated and unskilled. Country facing lacks specialists, Professionals and technologists which also hamper our industrialization.

Political instability and lack of proper govt. policy

A good ethical govt. policy and political stability and precondition for industrialization or this is the primary condition for industrialization. But, political anarchy and instability has always been a common phenomenon here. Above and beyond, no govt. have planned or implemented an industry –oriented policy.