President Abdul Hamid yesterday underscored the need for having good relations between workers and owners for the development of the industrial sector, as he handed awards to 12 leading companies.

"Production and labour are complimentary to each other. Workers play the main supporting role apart from other materials. Their hard work and competency are indispensable for production," he said.

The president made the comments while speaking at the distribution ceremony of 'President's Award for Industrial Development' at Osmani Memorial Auditorium in Dhaka.

Twelve industrial units received President's Award in five categories for their contribution to the economy.

The five categories are large industry, medium industry, small industry, cottage industry and hi-tech industry.

BSRM Steel, Abdul Monem Ltd and BRB Cable Industries were awarded in the large industry category.

Basumati Distribution, National Agri Care Import and Export and Jalalabad Frozen Foods were awarded in the medium-industry category.

Three industrial units which were awarded in the small industry category are Helal and Brothers, Adhesion Products and Prince Chemical Company.

Besides, Western Marine Shipyard and Service Engine were awarded as hi-tech companies while Janani Weaving Factory was awarded in the cottage industry category.

It is not possible for the government alone to create jobs for the country's huge population, and for that local and foreign investments are needed, Hamid said.

The government plans to set up 100 economic zones in 15 years, creating jobs for 1 crore people, he said. “Major portions of these economic zones will be allocated for private entrepreneurs."

Hamid said it is essential to develop the private sector to achieve the expected target of industrialisation.

He further said banks, financial institutions and investment firms have to come forward, and steps need to be taken so that entrepreneurs can get loans with soft terms without delay.

Industries Minister Amir Hossain Amu and Industries Secretary Mosharraf Hossain Bhuiyan also spoke.