Top 7 Governmental Bodies to Promote Entrepreneurship
Bangladesh has a long list of governmental bodies working to promote, support, assist, and develop entrepreneurship, investment, business, trade, and commerce.
Thank you for reading this post, don't forget to subscribe!The top 7 governmental bodies to promote entrepreneurship could be enlisted (but not limited to) as follows:
- National Council for Industrial Development (NCID) – Headed by the Honorable Prime Minister.
- Executive Committee of National Council for Industrial Development (ECNCID) – Headed by the Honorable Minister, Ministry of Industries.
- Bangladesh Investment Development Authority (BIDA).
- Bangladesh Small and Cottage Industries Corporation (BSCIC).
- Small and Medium Enterprise Foundation (SME Foundation).
- Bangladesh Industrial Technical Assistance Centre (BITAC).
- Bangladesh Council of Scientific and Industrial Research (BCSIR).
Other regulatory bodies or support institutions could be enlisted as the Ministry of Industries, Ministry of Finance, Bangladesh Bank (the Central Bank of Bangladesh), National Board of Revenue, Bangladesh Tariff Commission, Bangladesh Standards and Testing Institution (BSTI), Office of the Registrar of Joint Stock Companies and Firms, Office of the Chief Controller of Imports & Exports, Trading Corporation of Bangladesh (TCB), Investment Corporation of Bangladesh (ICB), and Bangladesh Securities and Exchange Commission (BSEC), etc.
All of the above ministries/agencies/organizations have a direct or indirect contribution to the business environment of Bangladesh. Some of these are promoters, a few of these are regulators and others are support institutions.
Let’s have a look at the top 7 governmental bodies to promote entrepreneurship along with their objectives and activities as followings:
- National Council for Industrial Development (NCID):
The honorable Prime Minister of the People’s Republic of Bangladesh is the Chairperson of the National Council for Industrial Development (NCID). The Minister for Industries is its Vice Chairman. The formation of the Council is as follows:
- Honorable Ministers & Deputy Ministers for Finance, Commerce, Power and Energy, Agriculture, Textiles and Jute, Environment and Forest, Post and Telecommunication, Science and ICT, Labor, and Employment, Civil Aviation and Tourism, Expatriate Welfare and Overseas Employment, Women and Children Affairs, and Fisheries and Livestock.
- Executive chairman, Board of Investment
- Chairman, Privatization Commission
- A Member of Parliament from each of the administrative divisions
- Governor, Bangladesh Bank
- Secretaries of the relevant Ministries/Divisions (Finance, Industries, Commerce, Planning, ERD, Power and Energy, Textiles and Jute, Post and Telecommunication, Science and ICT, Labor and Employment)
- Members of the Industries and Energy Divisions of the Planning Commission
- Chairman, Bangladesh Atomic Energy Commission
- Chairman, Tariff Commission
- Chairman, Bangladesh Small, and cottage Industries Corporation
- Executive Chairman, Bangladesh Export Processing Zones Authority
- Presidents of the FBCCI, DCCI, MCCI, BCI, FICCI, CCCI, NASCIB, BGMEA, BKMEA, BTMA, BJMA, and SMEF.
- President, Bangladesh Employers’ Federation
- Chairperson, Women Entrepreneurs’ Association
- The government nominated five distinguished industrialists
This council was formed as per the proposal of National Industrial Policy 2010. The Council is supposed to meet once every six months, and the Ministry of Industries is responsible to provide the Council with secretarial assistance. Although the Honorable Minister of the Ministry of Industries has been mentioned as a member of the Council, the Honorable Deputy Minister in Charge of the Ministry is also included in it.
The Council reserves the right to declare the inclusion into the thrust sector of any deserving rising enterprise applying for the same determine the type and terms of incentives to be given and monitor the implementation of Industrial Policy including reviewing and updating the list of existing thrust sectors in the industrial sector. If necessary, new members may be co-opted into the Council. Representatives from a sub-sector might be included in the case of discussion on a particular subsector.
Till now the Ministry of Industries is providing secretarial support to the council. But hopefully, this council will be further strengthened by establishing its own secretariat life BCSIR, NSDC, etc.
Top 7 Governmental Bodies to Promote Entrepreneurship
- Executive Committee of National Council for Industrial Development (ECNCID):
An executive committee titled Executive Committee of National Council for Industrial Development (ECNCID) is working with the Honorable Minister, Ministry of Industries in the chair to provide support to NCID. Other members of the ECNCID are the followings:
- Secretary, Ministry of Industries
- Chairman, National Board of Revenue
- Finance Secretary
- Secretary, Ministry of Commerce
- Secretary, Ministry of Power
- Secretary, Ministry of Mineral and Energy
- Secretary, Ministry of Jute and Textile
- Secretary, Ministry of Agriculture
- Secretary, Ministry of Civil Aviation and Tourism
- Secretary, Ministry of Overseas Employment and Welfare
- Secretary, Ministry of Forest and Environment
- Secretary, Ministry of Science and Technology
- Secretary, Ministry of Post and Telecommunication
- Secretary, Ministry of Women and Children
- Secretary, Ministry of Fisheries and Livestock
- Secretary, Ministry of Labor and Employment
- Member-2, Privatization Commission
- Deputy Governor, Bangladesh Bank
- A representative from the Board of Investment
- Executive Chairman, BEPZA
- Chairman, BSCIC
- Departmental Head, Industry and Energy section, Planning Commission
- Additional Secretary/Joint Secretary, Ministry of Industries, member-secretary
- Presidents of FBCCI, BWCCI, MCCI, DCCI, BCI, FICCI
ECNCID convenes meeting every three months. The Committee is responsible to review the competency of the applicant to be recognized as a thrust sector and recommend before the NCID. The committee monitors strict compliance with the industrial policy together with the protection of the environment and advice solutions in case of any complexity. Probe into complaints/allegations and if necessary, recommend action against concerns if found negligence or indifference of any sort in abiding by the directives. New members might be co-opted into the committee if needed.
Top 7 Governmental Bodies to Promote Entrepreneurship
- Bangladesh Investment Development Authority (BIDA):
By abolishing the Board of Investment and Privatization Commission a new organization titled Bangladesh Investment Development Authority (BIDA) has been established the government of Bangladesh. BIDA started its operation on 1st September 2016. It is the principal private investment promotion and facilitation agency in Bangladesh. The act is created on September 01, 2016. The act mandated BIDA for providing diversified promotional and facilitating services to accelerate the industrial development of the country. In addition, the government also entrusted BIDA with some more functions in its service list. The functions of BIDA are as follows:
- Country promotion
- Sector/industry promotions
- Publications on business processes
- Pre-investment information and counseling service.
- Investor welcomes service (faster immigration).
- Registration/approval of foreign, joint-venture, and local projects.
- Registration/approval of branch/liaison/representative offices.
- Approving work permit for foreign nationals.
- Facilitating utility connections (electricity, gas, water & sewerage, telecom, etc.).
- Assistance in obtaining industrial plots.
- Approving remittance of royalty, technical know-how, and technical assistance fees.
- Facilitating import of capital machinery & raw materials.
- Approving foreign loan suppliers’ credit, PAYE scheme, etc.
- Advocating policy suggestions to the government.
- Assisting the government in framing new policies for private sector development.
- Assisting the National Taskforce on investment climate facilitation.
- Bangladesh Small and Cottage Industries Corporation (BSCIC):
Bangladesh Small and Cottage Industries Corporation (BSCIC) is the prime mover organization in Bangladesh to support the industrialization process through the creation of an entrepreneurial society. BSCIC was established by an Act of Parliament in 1957. The vision of this corporation is to accelerate industrial growth through the promotion and extension of Medium, small, and cottage industries. Its Headquarter in Dhaka has 4 Regional offices, 64 District offices (Industries Service Centre), 78 Industrial Estates, and 15 Skill Development Centers in different places of the country, the website of BSCIC (www.bscic.gov.bd) focuses on the development program of Medium, Small and Cottage Industries sector in congruence with the govt. policy. The main functions of BSCIC are as follows:
- Increase of industrial production and productivity in the SCI sector;
- Creation of employment opportunities;
- Poverty alleviation;
- Balanced regional growth;
- Ensure optimum utilization of economic and human resources;
- Accelerate overall economic growth of the country through SCI; Services of BSCIC
- Entrepreneurship development through counseling and training.
- Provide infrastructural facilities by establishing Industrial Estates.
- Extend credit facilities to the entrepreneurs from their funds and also through banks and financial institutions.
- Preparation of Project Profile and project appraisal proposal.
- Provide technical and consultancy services for establishing new industrial units and quality improvement of SCI products;
- Development and distribution of new designs and prototype
- Innovation and adaptation of appropriate technology in the SCI sector.
- Collect compilation and dissemination of technical and other information leading to investment, production, and marketing of SCI.
- Conduct research, studies, and survey in the SCI sector.
- Other pre and post-investment counseling.
- Regulatory Functions.
- Registration of small and cottage industrial units.
- Recommendation for exemption of duties and taxes.
- Recommendation for import entitlement of raw materials and packaging materials.
Top 7 Governmental Bodies to Promote Entrepreneurship
- Small and Medium Enterprise Foundation (SME Foundation):
SME Foundation is established by the Government of Bangladesh under the Ministry of Industries as an apex institution for SME development in the country. The major activities of the SME Foundation are the implementation of SME Policy Strategies adopted by the Bangladesh Government, policy advocacy and intervention for the growth of SMEs, facilitating financial support for SMEs, providing skill development and capacity building training, facilitating adaptation with appropriate technologies and access to ICT, providing business support services, etc. It is mentionable here that the Foundation is working for the development of enterprises and entrepreneurs who belong to micro, small, and medium categories as per Industrial Policy 2010. Besides the general support to the development of SMEs and entrepreneurs, the Foundation is providing diversified support to existing and potential women entrepreneurs to position them into the mainstream business community. The major objectives of the SME Foundation are as follows:
- To promote, support, strengthen and encourage the growth and development of SMEs.
- To plan, program, and finance interventions for delivery by private sector organizations.
- To institute SME Awards to promote competitiveness among the SMEs.
- To facilitate SME access to finance by creating and supporting appropriate strategies and institutions.
- To rationalize public sector approaches and support structures for SME development.
- To create a pro-growth and pro-poor business environment.
- To create appropriate incentives, mechanisms, and support structures to facilitate the formation of new enterprises.
- To identify and report policy anomalies, and market and institutional failures that are prejudicial to the legitimate interests of SMEs.
- To create a database on SMEs and SME sectors.
- To encourage building linkage among the national and international institutions working for SME development.
- To develop the capacity of public and private sector SME service providers.
- To enhance productivity, etc.
Top 7 Governmental Bodies to Promote Entrepreneurship
- Bangladesh Industrial Technical Assistance Centre (BITAC):
Bangladesh Industrial Technical Assistance Centre otherwise known as BITAC is the successor to Pakistan Industrial Technical Centre (PITAC). It was renamed BITAC after the independence of Bangladesh. BITAC was established in 1962 by merging two other productivity-oriented public sector organizations namely IRDC & PIPS. With the establishment of BITAC practice-oriented activities for productivity Promotion and improvement of Productivity were created through its laboratory and workshop support. The main objective of BITAC is, therefore, the promotion of the national economy through the development of products, processes, es, and skilled manpower. BITAC has Five Centers in Bangladesh Dhaka, Chittagong, Chandpur, Khulna, and Bogra. Broad objectives of BITAC include:
- To upgrade the skills of industrial personnel in technical and managerial fields.
- To disseminate modern technical know-how among industrial personnel through seminars, group discussions, demonstrations publications, film shows, etc.
- To extend consulting services to industrial organizations and industries primarily in the private sector.
- To organize the program for capacity buildup in the SME sector.
- To promote productivity consciousness in the people by encouraging them to form productivity associations in industrial Centers etc.
- To co-operate with international and national organizations and agencies engaged in activities for increasing industrial productivity.
- To adopt such measures and take such steps and do all such things as may be conducive to the promotion of cordial relations between the Centre and persons interested in the objectives of the Centre.
- To secure the recognition of the Centre in Bangladesh and other foreign counties.
- In conjunction with the upgrading program and to make it more effective, the BITAC shall:
- assists in the design and manufacture of newly developed jigs, fixtures, gauges, molds, dies, punches, tools, and products (proto-type0 for industries and agriculture;
- develop products, processes, tools, etc. to help industries in improving quality, increase production, reduce cost and utilize indigenous raw materials, and increase the scope of indigenous manufacture and
- Conduct productivity studies in such selected plants as may be determined and recommend ways and means for improvement.
- To do all such other lawful things as the Centre may think identical or conducive to the attainment of any or all the objectives of the Centre mentioned above.
Top 7 Governmental Bodies to Promote Entrepreneurship
- Bangladesh Council of Scientific and Industrial Research (BCSIR):
Bangladesh Council of Scientific and Industrial Research (BCSIR) is the leading multidisciplinary Public Research Institute in the country commenced its magnificent journey as the ‘East Regional Laboratories’ of the Pakistan Council of Scientific and Industrial Research (PCSIR) in January 1955 in the premises of the Polytechnic Institute at Tejgaon, Dhaka. Dr. Muhammad Quadrat-i-khuda, the eminent scientist and educationist, conceived the idea and took initiative for establishing such a laboratory in this part of the continent. In the beginning, this regional multidisciplinary research unit had five-research divisions-viz. Natural Product Division, Food and Fruit Research Division, Fuel Research Division, Glass and Ceramic Research Division, and Leather Research Division.
The Bangladesh Council of Scientific and Industrial Research came into being in 1973 based on the Cabinet Resolution No. 1(24)/73-BCSIR, dated: 16 November 1973. At that time, the Council comprised its headquarters in Dhaka and the other two regional research units one each in Chittagong and Rajshahi, and functioned under the Ministry of Industries. Subsequently, the Parliament enacted Ordinance No. of 1978 as an autonomous body. This ordinance is known as the Bangladesh Council of Scientific and Industrial Research Ordinance, 1978. Professor Dr. Mofizuddin Ahmed was the first Chairman of BCSIR and served here from 23 November 1973 to 21 November 1979. At present, the BCSIR functions under the Ministry of Science and Information and Communication Technology. The major objectives of the BCSIR are as follows:
- To initiate, promote and guide scientific, industrial, and technological research having a bearing on problems connected with the establishment and development of industries and such other allied matters as the Government may refer to it;
- To establish, maintain and develop laboratories, workshops, institutes, centers, and organizations for the furtherance of scientific and industrial research with the object of utilizing and exploiting the natural resources of the country in the best possible manner;
- To give grants-in-aid for scientific, industrial, and technological research schemes and projects of the universities established by law and other research institutions;
- To adopt measures for the commercial utilization of discoveries and inventions resulting from the research carried on by the Council, universities, or any other research organization;
- To collect and disseminate information on scientific, industrial, and technological matters and publish scientific papers, reports, and periodicals on such matters;
- To encourage the establishment of industrial research organizations;
- To maintain contact with scientific, industrial, and technological research organizations of other countries;
- To take out patents and make arrangements for the industrial utilization of research processes developed in the institutes and laboratories established by the Council;
- To establish such libraries, museums, experimental plantations, and herbaria as the Board may consider appropriate;
- To do such other acts and things as may be necessary for carrying out the purposes of the Ordinance.
Any entrepreneur can get their support as and when necessary. But in most cases, entrepreneurs don’t know how to get support from which governmental bodies. As a result, Bangladeshi entrepreneurs are suffering from many problems and have solutions available in the market.
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