Industrial Clusters Can Help Boost Economic Growth
3 Pages Posted: 8 Feb 2016
Date Written: February 3, 2016
Cluster development is considered as an effective tool for fostering economic growth and innovation. Industrial clusters serve as one of the most effective mechanisms for spurring income and employment growth especially by micro- small- and medium-sized enterprises. Industrially developed or progressing countries have separate policies for industrial cluster development. But in Bangladesh, industrial cluster development concept is comparatively a new one. Previously the government was considering Export Processing Zone (EPZ) and Special Economic Zone (SEZ) as a means for promoting export and industrialisation. EPZ concept has many success stories in Bangladesh. But their scope is very limited and expensive for countrywide industrialisation. On the other hand, SEZ concept is still in the conceptual stage in Bangladesh.
Keywords: Cluster Development, Industrial Cluster Development, Clustering
JEL Classification: R11, C38, C31
Suggested Citation: Suggested Citation