FBCCI, Faction sign MoU to boost research, innovation

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the leading business association in the country, and Faction, a US-based company, have signed a Memorandum of Understanding (MoU) to enhance cooperation on the development of the FBCCI Innovation and Research Centre.

Faction Co-Founder Max Garza III and FBCCI President Md. Jashim Uddin signed the Memorandum of Understanding on behalf of their respective organisations on Sunday at the Bengal Commercial Bank headquarters in the capital.

The FBCCI President stated that the two organisations' engagement in the fields of innovation and research will significantly improve the business environment in Bangladesh.

Instead of adopting a "one product, one policy" strategy, Jashim contended that sector-specific policies should be given priority in order to encourage product variety.

The Faction projects, according to the chairman of the FBCCI, aim to connect academic institutions, students, and organisations in both countries.

Faction co-founder Max Garza III expressed his gratitude for the cooperation and acknowledged the great potential for growth.

He asserted that the collaboration between Faction and FBCCI will benefit Bangladesh and advance science and technology worldwide.