2.6 Bangladesh government policies
The Bangladeshi policy for Industrial Biotechnology and the knowledge-based bioeconomy is formulated to promote sustainable economic development, technological innovation, and environmental responsibility. The government is committed to fostering eco-innovations through industrial biotechnology, focusing on reducing environmental impact and promoting sustainability. This policy framework includes the creation of national roadmaps with specific actions and deadlines, with a particular emphasis on supporting Small and Medium Enterprises (SMEs) and Young Innovative Companies involved in industrial biotechnology. A science-based regulatory framework will be established to ensure safety and ethical considerations, reducing uncertainty for investors. The government will also explore financial mechanisms to mitigate investment risks associated with longer payback periods in environmental technologies. Recognizing the broad-reaching implications of industrial biotechnology across various sectors, an interdisciplinary approach will be adopted to harness its full potential and create synergies. A dedicated Knowledge-Based Bio-Economy (KBBE) coordinator within the Ministry of Industries (MOI) will ensure a cohesive policy framework. Economic impact assessments will be conducted to understand the challenges and opportunities presented by biotechnological innovations. International collaboration and knowledge exchange will be actively sought to enhance resources and knowledge in this field. A robust monitoring and evaluation system will be in place to assess the progress and impact of industrial biotechnology initiatives, facilitating data-driven decision-making and continuous improvement in line with the policy’s objectives. This policy underscores the government’s commitment to harnessing biotechnological innovations for sustainable economic growth and environmental responsibility.