Bangladesh needs to highlight the shining examples of foreign companies that have achieved success after setting up businesses here, said a delegation of American investment management firm T Rowe Price Group Inc.
The delegation, led by Johannes Loefstrand, portfolio manager of Frontier Markets Equity Fund, suggested successful utilisation of special economic zones and attracting foreign companies there. The recommendations came after the delegation met with officials of the international trade, investment and ICT division at the foreign ministry, said a press release.
The delegation enquired about the steps taken for attracting more foreign investment, initiatives for increasing exports, activities and successes of economic zones and progress in digitalisation in Bangladesh. Syed Muntasir Mamun, the division's director general, highlighted Bangladesh's geographical position between northeastern India and south and east Asia. He cited the increasing participation of women in the workforce, booming local businesses, rapid digitalisation, strong infrastructure and prospects for foreign companies to invest in Bangladesh. He said the government's investment promotion agencies were working very hard to bring ease to the process of doing business.
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
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