Bangladesh’s agriculture sector will need investments amounting to Tk15,000 crore in the next five years, Agriculture Minister Abdur Razzaque said on Tuesday, urging developed countries, international donor agencies and private entrepreneurs to invest in this sector. 

Bangladesh has achieved unprecedented success in agricultural production under the government led by Prime Minister Sheikh Hasina, said the minister at the opening ceremony of the Investment Conference of the World Food Forum of the Food and Agriculture Organization (FAO) of the United Nations in Italy.

But the agriculture sector is lagging behind in processing and exporting products where there are huge potentials, he added. 

Prioritizing four sectors – cold storage and post-harvest management, agricultural products processing and marketing, climate-smart agriculture, and irrigation and water management – the minister said: “Investments of Tk15,000 crore is required in these sectors in the next five years. These sectors are very promising and profitable for investment in Bangladesh.” 

The minister sought immediate investment for setting up cold storages, post-harvest management, processing and marketing for potatoes, onions, mangoes and tomatoes. 

Bangladesh does not have sufficient technology and cold storages to store vegetables including onions, mangoes and tomatoes, he said, adding that 25%-40% of these products are wasted at the post-harvest stage. 

Highlighting the details of investment infrastructures and government facilities in Bangladesh, the minister said the country has a conducive investment environment. “So come forward to invest.” 

Working to increase investment in agricultural sector transformation, FAO organized the two-day Investment Conference on October 18-19. Twenty countries from different parts of the world are participating in this conference, which need more foreign investment in the agricultural sector. 

Besides, representatives of various international donor organizations, banks and private entrepreneurs including the World Bank, Arab Bank, Inter-American Development Bank, Latin American Development Bank are participating.

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