"To face the global challenges, the domestic industries will have to increase skill and standard of services as well as to increase productivity and reduce cost through proper management," she said.

Inaugurating the 49th Conference of the Institution of Engineers, Bangladesh, at the IEB Chittagong Centre, Prime Minister Khaleda Zia said cost-effective production strategy will have to be followed in all sectors and standard products to be produced through best utilisation of resources.

The quality of products has to be flawless, she said, in view of the emerging open competition among a great lot of products on the international market.

And the engineers will have to play their role properly in the overall efforts for industrialisation and ensuring quality production, she told the engineers.

Khaleda said that, in the changed global perspective, Bangladesh today faced with multifarious challenges. "Sometimes this challenge is economic, sometimes political, sometimes social and technological," she added.

Skilled human resources are need of the hour to successfully face these challenges, she said, adding that her government has been implementing multifarious programmes to that end.

"Though not yet at desired level, Bangladesh is now advancing quickly on the highway of prosperity," Khaleda said.

She said country's progress in socio-economic sphere is being appreciated and followed as examples in various international organisations and forums.

An amount of 7.6 billion US dollars was earned from only export in the last fiscal and recently the volume of private investment increased remarkably, she said.

She said many big companies of the world have shown interest in investing in Bangladesh, and already many of those started their operations.

The amount of investment stood at Tk 78,430 crore in 2003-2004 financial year against Tk 58,530 crore in 2000-2001, she said.

Listing successes and progress in a number of sectors, Khaleda said her government has taken tough steps for curbing crimes, and the success in the combat is being appreciated by all quarters.

"But, we know, we have to go a long way and you will have to remain with us," she told the engineers.

Khaleda urged them to work together to present the people with a prosperous and self-reliant Bangladesh.

IEB Gold Medal-2004 was awarded to Engineer Dr M Firoz Ahmed and posthumously to Engineer Dr M Golam Mohiuddin. The Prime Minister distributed the medals.

The Institution's Chittagong and Khulna centres earned the IEB Best Centre Award Certificate-2004.

IEB best sub-center certificate-2004 was given to Moulvibazar and Gopalganj chapters.

She also conferred the first AMIE degree upon 23 students for studying the new course.

She approved the registration of Bangladesh Professional Engineering Registration Board.

IEB President Dr Anwarul Azim, IEB General Secretary ANM Akhter Hossain and IEB Chittagong Centre Chairman AKM Fazullah also spoke.

Ministers, CCC mayor, MPs, diplomats, engineers, and delegates from Sri Lanka, India and Nepal were present on the occasion.