Dr. Syed Saifuddin Ahmad Al Hasani Maizbhandari, the Sheikh of Maizbhandar Sharif and Chairman of the Bangladesh Supreme Party, stated, “Bangladesh is already on the verge of transitioning from a least developed country to a developing one. Bangladesh is progressing with the vision of becoming a developed, prosperous, and smart nation by 2041. In addition, there are challenges posed by the Fourth Industrial Revolution, where the expansion of the industrial sector is crucial. Over the past ten years, we have seen a gradual decline in the contribution of agriculture to GDP, while the contribution and growth of the industrial sector have increased. In the 2015-16 fiscal year, the agricultural sector’s contribution was 14.06%, whereas, in 2022-23, it was 11.2%.
On the other hand, the contribution of the industrial sector has risen from 32.45% to 37.56%. This reflects Bangladesh’s progress. However, we are still unable to achieve the desired success in increasing foreign direct investment, diversifying export products, and expanding domestically-owned industries. For this, it is essential to ease business operations in Bangladesh, promote one-stop services, further develop the communication system, provide more incentives for sectors with potential other than ready-made garments, reduce bureaucratic complications, and eliminate corruption.
Additionally, ensuring energy security is crucial so that industries do not have a shortage of energy. The automobile industry is a promising sector in Bangladesh. PHP Group is at the forefront of this sector in Bangladesh. Through their new initiatives, they are not only paving the way for other entrepreneurs but also playing a commendable role in the country’s economic development and job creation. I wish their initiatives all the success.”
He made these remarks as a special guest at a colourful event held on May 9, 2024, at the Pan Pacific Sonargaon Hotel in Dhaka, on the occasion of PHP Automobiles marketing Perodua cars, a Malaysian automobile company, in Bangladesh. The Education Minister, Barrister Mohibul Hasan Chowdhury, was the chief guest. Also present were the Chairman of PHP Group, Sufi Mohammad Mizanur Rahman Maizbhandari, the Malaysian Ambassador to Bangladesh, Mr Hanza Mohammad Hashim, Perodua’s COO, Mr. JH Rozman Bin Zafar, former Governor of Bangladesh Bank, Dr Salehuddin Ahmed, former Vice-Chancellor of Dhaka University, Professor Dr. Akhtaruzzaman, along with the chairmen of various banks and insurance companies, and high-level officials from different government institutions and the business community.