The government finds no alternative to increasing the industrial sectors' productivity as well as improving the quality of manufactured goods for a sustainable, universal, and "environment-friendly" economic development.
Finance Minister AHM Mustafa Kamal, while presenting the FY23 national budget in parliament on Thursday, said the government plans to invest $80 billion by 2030 to implement the country's climate prosperity plan which is named after Bangabandhu Sheikh Mujibur Rahman.
The government is going to implement the "Mujib Climate Prosperity Plan" to move Bangladesh from climate risk to sustainable climate prosperity, the finance minister said, adding the required investment will be funded by both domestic and external sources.
"Considering the immense importance of environmental protection, the government has made it mandatory to follow a pragmatic and inclusive environment-friendly plan in all development activities while addressing the risks of climate change," he said.
He said a project titled "Building Warehouses for Storage of Chemicals" is underway temporarily on the premises of Ujala Factory at Shyampur to relocate the Old Dhaka-based chemical factories and warehouses.
"A total of 54 warehouses will be constructed under this project," he said.
He cited a project that will transform the Palash Urea Fertilizer factory into a highly modernised and environment-friendly factory with superior technology and higher capacity. He said the factory's daily production capacity will reach 2,800 tonnes upon the completion of the project.
Another project is underway to build an energy-efficient, state-of-the-art technology, and "environment-friendly" plant at Fenchuganj in Sylhet with an annual production capacity of 24,000 tonnes of urea-formaldehyde, the minister said.
The finance minister hinted that Bangladesh will meet 6.73% of carbon-dioxide emission reduction target by 2030 with its own financing and technological capabilities while meeting another 15.12% target is subject to the availability of international funding and technical assistance.