The government's latest initiative to reopen long-closed and loss-incurring state-owned mills and factories through private sector’s participation marks one of the most significant industrial policy shifts in recent years. Moreover, Prime Minister Tarique Rahman's direct engagement with local and foreign investors signals a sharp commitment that dormant industrial assets can no longer remain a burden on the national economy.
However, for decades,many of our numerous state-owned enterprises have stood as symbols of inefficiency, consuming vast number of public resources while contributing little to economic growth.
The point, however, many of these facilities possess valuable assets: factory buildings, industrial sheds, utility connections and strategically located land. Transforming these idle resources into productive enterprises is both economically sensible and strategically necessary.
Nevertheless, enthusiasm expressed by our leading entrepreneurs following the Prime Minister's meeting reflects practical advantages of the proposal. Undeniably,one of the biggest obstacles facing investors in Bangladesh is the lengthy process of acquiring industrial land and developing infrastructure. By offering existing factory premises for lease or sale, the government can significantly shorten project implementation timelines, reduce capital costs and accelerate production.
We also welcome the government's willingness to provide flexibility. Investors should not be forced to operate with outdated production lines that may no longer be commercially viable. It is essential to adapt facilities to contemporary market demands"whether in food processing, electronics, agro-based industries or other sectors"so to ensure, successful reopening and long-term sustainability.
On one hand, optimism must be accompanied by realism while on the other success of this initiative will depend on transparency, policy consistency and efficient implementation. That said - our investors require clear guidelines regarding ownership structures, leasing arrangements, tender processes and regulatory obligations. Ambiguity or unnecessary bureaucratic red tapes and delay could well undermine confidence while diminish the programme's appeal.
The question of utilities also deserves urgent attention. Reliable gas and electricity supplies remain essential for industrial operations. Reviving factories without ensuring adequate energy support would risk creating new bottlenecks that could discourage investment and reduce productivity.Furthermore, attracting foreign investment will require more than available infrastructure.
International investors seek predictable policies, legal certainty and a genuinely business-friendly environment. The government's commitment to removing obstacles must therefore be translated into concrete reforms that improve ease of doing business and strengthen investor confidence. On that note - reopening of closed mills and factories should not be viewed merely as an exercise in asset disposal. It offers an opportunity to stimulate industrialisation, create employment, diversify production and revitalise regional economies. If executed with transparency and strategic vision, the initiative could convert long-neglected liabilities into engines of growth.
Our country has often struggled with the challenge of underutilised industrial assets. The government's latest effort offers a chance to turn that challenge into an opportunity. The job now is to ensure that ambition is matched by efficient and effective execution.
