Skip to main content

Salman F Rahman said Bangladesh is moving in the right direction

Image
By A Pro-Bangladeshi
Salman F Rahman, the vice chairman of Beximco Group and chairman of IFIC bank, said that pharmaceutical exports of Bangladesh are about to take off. He predicted this during an interview with NIKKEI Asian Review.  He also said that stock market of the country is not a mature one and lacks institutional investors. The interview was published in March 2015 where he discussed many points with the correspondent of NIKKEI Asian Review.

Salman F Rahman, a leading businessman of Bangladesh, talked about some core issues quite bluntly. In answering one question from NIKKEI Asian Review journalist Joseph Allchin, Salman F Rahman said the state owned banks were the backbone of the economy. He explained that in the early years of liberated Bangladesh, there were no private banks. Even when private banks started their operations, they were not big enough to provide support to the growing business sector. They did not have the capital adequacy to lend. It was the state owned banks those provided the largest companies of Bangladesh loans which eventually turned into economic progression. He mentioned Beximco Group is a good example which took loans from state owned banks for expansion. It is now one of the largest companies in Bangladesh.

Full interview can be viewed in the NIKKEI Asian Review page.

While answering a question on the stock market, Salman F Rahman said it is still a frontier market which does not have adequate institutional investors. He explained that there are small retail investors operating in the stock market who do not have information. As consequences, these small retail investors depend on rumors and make lose in the process.  He also mentioned that the government has taken some steps to stabilize the market of which some worked, some did not work.

In one question, Joseph Allchin asked whether the weakness of Bangladeshi institutions discourage large-scale investment or not. Salman F Rahman said that central bank along with other institutions has become quite strong and the country has a proper judicial system so only thing missing is foreign direct investment.

Throughout the interview Salman F Rahman indicated that Bangladesh is on the path of economic growth and will achieve a lot more in the years to come. He mentioned that the country maintained a 6% growth for last couples of years and worked on creating a strong business fundamental. He said the country is in a position to order large amount of Boeing jets and award gas concessions to world’s top companies including Chevron and ConocoPhillips.

Detailed information on Salman F Rahman can be found in this page. 

Comments

Post a Comment

Popular posts from this blog

About Nasir Group

By The Economist
Nasir Group is one of the largest industrial conglomerates in Bangladesh. The industries include industrial glass, tobacco, printing and packages, light engineering, melamine. It is one of the leading industries in glass manufacturing sector of the country. The company started its journey in 1977. Now this group expands in every industrial sectors of Bangladesh like tobacco, melamine, printing and packaging and footwear. Recently it started producing energy saving light bulbs. Nasir group has a great role in socio-economic development of the country. Dominance in Glass Sector Glass is one of the products of Nasir Group of Industry. Nasir group has a vital role to make Bangladesh self-sufficient in glass sector. This company provides a large portion of glasses to meet country’s demand. Nasir group started float glass production in 2005. The company built its glass manufacturing factory in Gazipur at a cost of Tk.300 crore. Nasir Glass now holds more than 40 percent of the total mark...
Post a Comment
Read more

After Beximco Group, Square Group and Pran Group, PHP Family is coming up

By The Economist
Along with Beximco Group, Square Group, Pran Group, PHP Family is contributing immensely to the economic progress of Bangladesh. Beximco Group and Square Group are the top private sector players but companies like PHP Family are coming up. Sufi Mohammed Mizanur Rahman, an ex banker, established PHP Group which was later re-named as PHS Family. PHP Float Glass is a concern of PHP group and is the pioneer of glass industries in the country. Now PHP float glass industry is the largest glass producer. Ample success in Glass sector along with other indusial sector, PHP group is contributing much to the development of the country. PHP float glass industry limited is Chittagong based sister concern of PHP group. Built on 30-acres of land, with a total investment of Tk 300 crore, the PHP Float Glass Industry at Barabkunda of Sitakunda in Chittagong launched its commercial production in 2005.It produces various types of glass according to local demands. It produces clear-glass sheet of 2MM...
1 comment
Read more

Bangladesh's fashion industry

By The Economist
Fashion is a popular style or practice, especially in clothing, footwear, accessories and makeup. Fashion is a distinctive and often habitual trend in the style in which a person dresses up. Fashion industry is the product of modern age. In the past tailors and dressmakers were undoubtedly responsible for the innovation of fashion and changing fashion as well. Actually fashion depends on taste of people. For this reason fashion varies from region to region.  Before 20th century most of the dresses were handmade. At the beginning of 20th century fashion magazines were more responsible for adopting and changing fashion. But at present media, social network, fashion websites play the most important role for changing fashion. Though the people of Bangladesh have a unique fashion of their own, they also follow the fashion of many countries. For this there is huge opportunity for the fashion industry to grow. As a result, depending on the taste of Bangladeshi people a huge numbe...
1 comment
Read more