Bangladeshi leaders of the 1980s were right to see the industry sector as key for growth – today's developed countries took that same path. But the secret lies in championing manufacturing industries where the value added locally is high, through research and design of new products, or goods made of locally-sourced materials and parts. Two existing industries in Bangladesh, engineering and electronics, have the potential to develop the country's growth to that level; they just need the right government support, ActionAid said.
Higher value industries like these can bring more income to businesses and, with the help of tax policies, more income so that the state can provide greater access to public services like education, health or childcare. A good labour policy can ensure that higher income brings better wages for workers, so there can be a positive development cycle for decades to come, it said. (SH)
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