An insightful discussion highlighting the importance of investment in product research and innovation for sustainable growth and competitive strength of domestic manufacturing industries took place at a Walton-organized event.
On Friday, December 6, at the second day of Walton’s “ATS Expo 2024,” a large-scale industrial fair held at the Bashundhara International Convention City in Dhaka, a panel discussion titled “Strengthening Local Manufacturing: The Rise of Bangladesh in the Electronics Industry” was conducted.
The session, moderated by Walton Hi-Tech Industries PLC’s Senior Executive Director and Business Coordinator to the Managing Director, Tanvir Anjum, featured esteemed speakers including Dr. Kamrul Hasan, Vice-Chancellor of Asia Pacific University; Syed Tahmid Zaman Rashik, Managing Director of Best Electronics Ltd.; Kamrul Hasan, Commercial Director of Daraz Bangladesh Ltd.; and Engineer Mofizur Rahman, Managing Director of KD Solution Ltd.
Tanvir Anjum emphasized the critical role of research and innovation (R&I) for the sustainable development of manufacturing industries. He said, “The sustainable progress of any manufacturing industry depends on R&I activities. There is no alternative to R&I for advancing domestic manufacturing industries. Local manufacturers must make significant investments in this area.” He further mentioned Walton’s commitment to R&I, evidenced by the establishment of South Asia’s largest R&I center with over 2,500 skilled engineers working on innovative, eco-friendly technologies and products. This effort has enabled Walton to produce over 50,000 industrial solutions and components.
Professor Dr. Kamrul Hasan stressed the need for a supportive industrial policy and backward linkages for the rapid progress of domestic industries, citing Walton as a benchmark. He also highlighted the existing gap between academia and industry, urging closer collaboration through internships, joint research, and direct involvement in academic activities.
Syed Tahmid Zaman Rashik reflected on the transformation of Bangladesh’s electronics industry over the past 50 years, calling Walton the “driving force” behind this revolution. He noted that nearly all electronics products are now domestically manufactured by various companies, with Walton leading the charge.
Kamrul Hasan from Daraz Bangladesh underscored the importance of attracting foreign investment and expanding R&D initiatives to make Bangladesh a competitive player globally. He expressed optimism that Bangladesh could become the “next China” in electronics with the right improvements in R&D and innovation.
Engineer Mofizur Rahman highlighted significant strides made by domestic manufacturers in producing energy-efficient products, with Walton setting exemplary standards by manufacturing air conditioners, refrigerators, lifts, TVs, and fans that are both eco-friendly and energy-saving.
The ATS Expo 2024 aims to showcase over 50,000 industrial solutions and components produced by Walton, fostering import substitution and saving billions in foreign currency. The fair has reportedly garnered substantial interest from various domestic industries.
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