Experts emphasised the need for policy support to local electronic goods manufacturers in the upcoming budget.

They said the support will help to encourage both local and foreign investments in the sector.  
The entrepreneurs in the sector sought extension of the existing facilities for the development of the domestic electronics and technology industry.

The annual demand for refrigerators has gone up to more than 3 million from 300 thousand units during the past 10 years, according to a news release of the trade body.

The development of the local electronics and technology goods manufacturing sector resulted in saving a huge amount of import cost of products.

Bangladesh Refrigerator Manufacturers and Exporters Association’s Secretary General Zahidul Alam said the country's electronics and technology industry had suffered due to the coronavirus pandemic.

“At present, the country's industrial sector is trying to recover the loss incurred during the pandemic. Prices of raw materials and spare parts for electronics and technology products have also risen sharply in the international market due to the supply crunch of raw materials for the pandemic,” he said.

Zahidul Alam further said the trade body is happy that the country has come under 100 percent electrification due to the dedicated efforts of the government.
Locally manufactured electronics and technology products are being exported to more than 40 countries of the world. The exportable items include compressor and its components, refrigerator, television, air conditioner, home appliance, mobile phone and laptop.

Export Promotion Bureau’s Director General Mahbubur Rahman said the government is interested in any issue that is conducive to the country's industry. "I think a positive decision will be taken in this regard."

Bangladesh's economy is on the rise due to timely steps taken by the government while the pandemic has ruined the economies of different countries of the world, he said.

To maintain this trend of development, the sector’s entrepreneurs have demanded increasing policy support in the electronics and technology sector of the country.

Regarding the budget, the United Nations Development Program (UNDP) Bangladesh's Country Economist Dr Nazneen Ahmed said that the budget for the fiscal year 2021-22 was industry friendly and employment friendly.

“In this budget, an attempt had been made to bring dynamism to the economy of the country by keeping a balance between lives and livelihoods. It is expected that these issues will be given priority in the next budget as well,” she added.

Dr Nazneen Ahmed suggested extending the policy support for domestic industry for a few more years.

A Bangladeshi recently acquired the rights of a fully automated inverter and fixed speed compatible compressor manufacturing plant, along with the rights of research and development (R&D) intellectual property of three European brands -  ACC, Zanussi Elettromeccanica (ZEM) and Verdichter (VOE).