Bangladesh's Corporate World

1. Anything that you do; be skilled in your present place of employment. 2. Comprehend the way of life of the association, particularly their desires of what makes a decent representative. They all say they have faith in cooperation, commitment, diligent work, and so on. In any case, take a gander at the representatives who are fruitful, who get the acknowledgment, who rise rapidly — they speak to what the organization is searching for. 3. Comprehend that legislative issues is a reality of corporate life, and figure out how to manage it. That implies you require some serious energy to comprehend the perspectives of the general population required in corporate clashes. 4. Always remember that connections in business ought to be 'business connections'. You may have a companion or significant other at work, yet the relationship will end the minute the chance to progress in the business is set amongst you and your companion. 5. If you need to succeed in a professional work...

It has been 44 years since Bangladesh achieved its independence and there is no doubt that the country has moved forward. Historians might be capable of delineate the contours efficiently in the future, but those of us who lived through the battle that brought the beginning of this nation can examine how we fared and in which issues we faulted. A dispassionate look at of the fault lines may help us uncover the faults in the future. But in present we can see in front of us that Bangladesh is developing. Let’s talk about the improvements Bangladesh has made so far: Major foreign exchange-earners, distant places employees and ready made garments exports- these are the three sectors, Bangladesh has relied on. The amount of remittances of Bangladeshis operating in foreign labor markets is $ 1.7 billion/year. And it represents the largest net foreign exchange inflow. In the course of the duration 1991-2000, the yearly common drifts of short-time period migrants has changed into 226,000...

Bangladesh is a developing country with a large population. But the country is developing rapidly. The GDP growth is maintain a steady rate of 5.5% throughout the last five years. That is a clear indication that Bangladesh is developing and moving in the right direction. In earlier days, Bangladesh was dependent largely on agriculture and natural resources such as coal, gas, hard rock and silicon. But in recent years business sector has come up. The main sectors which are booming includes ready-made garments, textiles, cotton, jute, paper, newsprint, tea, chemical fertilizer, cement, sugar and light engineering. Among all these sectors ready-made garments sectors has emerged as the biggest earner of foreign currency. Next sector is tea. These two sectors are contributing significantly in GDP growth.  Besides ready-made garments products and tea, Bangladesh is also exporting leather and leather products, seafood, urea fertilizer, ceramic products, staple fibers, paper, raw jute a...

Private corporate groups of Bangladesh received less foreign loans in 2013 compared to the year before. The volume of foreign loans declined due to political unrest and frequent workers’ protest throughout the year. It is an indication that foreign loans providers have lost a share of interest in giving loans to Bangladeshi corporate groups due to the lack of investment friendly environment in the country. To add to the farce, Import orders on capital machinery came to almost a halt.  The Board of Investment expected at the start of 2013 that the flow would increase. In reality, it did not. Board of Investment approved foreign credit worth $1.19 billion in 2013 compared to $1.50 billion in 2012. Fear factor is that it might continue the falling trend in 2014 as most international loans providing organizations adopted a wait and see policy. Volatile political environment is a serious no-go factor for any foreign loan providers. The second in line in the no-go list is workers’ unre...

Along with readymade garments sector; IT, ceramics, pharmaceuticals, footwear, banking and healthcare sectors of Bangladesh are increasingly grabbing attention of the international market. There are some key factors behind this such as top class training of human resources, export diversification, large foreign and local investments, adapting modern technology and the dynamic change in the local corporate culture. Mizanur Rahman, Marketing Director of Square Pharmaceuticals stated in a discussion that a big number of their products are in a very high demand in the international market as it has the quality to compete with any recognized international brand. Bangladesh is currently ranking at number 2 in the leading readymade garment exporting countries of the world. According to Mr Abdus Salam Murshedy, former president of Bangladesh Garments Manufacturers and Exporters Association, there are more than two hundred local apparel companies regularly exporting high quality...

It is in fact quite amazing that despite the global shocks, natural crisis, and local political instability, Bangladesh was able to maintain around 6 percent growth rate over the past few years. The GDP growth of Bangladesh was 3percent in the 1970s, and increased by 1 percent on average every decade. The credit goes to government's efforts to control population growth, which has significantly declined over the years. The per capita GDP growth rate was 1.7 percentage points on average every decade. Over the last three years, approximately 15 million people came out of absolute poverty due to the acceleration in the growth rate. Openness in the economy, financial deepening, macroeconomic stability and population control are some of the major reason Bangladesh experienced a steady growth over the years. Bangladesh now targets to enter the middle-income country strata by 2021. A recent report by World Bank said that in order to attain the middle-income status, remittances and GDP gro...

Doing business in Bangladesh Featured question of the month is - what does it need to launch an import-export business in Bangladesh? A bonus question to add with it is - how much time does it take to solve insolvency problems? Here is the hint, if not the whole answer: According to this website on 'Business Scenario of Bangladesh', six official documents are needed to start  an import-export business. How much required? $965. But the website did not mention how much bribe it requires. Answer to the other question is interesting. It takes over two years on solving insolvency problems. This time frame is not that long compared to Pakistan, Nepal, Sri Lanka and other developing countries. This website also gave details on leading and top businessmen of Bangladesh . The names included are Jahurul Islam of Islam Group, Samson H Chowdhury of Square Group, Abul Matlub Ahamed of Nitol-Niloy Group, Salman F Rahman of Beximco Group and Latifur Rahman of Transcom Group.

Bangladesh business news The Canadian government has been requested by Bangladesh Garments Manufacturers and Exporters Association (BGMEA) to ensure that the General Preferential Tariff review does not put any impact of the duty free apparel exports to Canada. The proposed GPT review will have a detrimental effect on the readymade garments industry of Bangladesh. Hundreds of factories will have to be closed down and millions of people will be jobless. The apex apparel body of Bangladesh expressed their concern of the proposed review of the General Preferential Tariff and explained how terrible the impact will be for Bangladesh. It was almost the end of last year that Canadian government decided to review their GPT and proposed some changes in it. According to the review, 72 developing countries will not have GPT facilities which include China and India. Bangladesh has been sent out from the Least Developing Countries category. BGMEA has requested the Canadian government to tak...

Five new commercial banks have achieved the ‘go’ sign from the Bangladesh Bank by complying with the preconditions. This decision was taken at the Central Bank during the meeting of board of directors with the governor Mr.  Atiur Rahman. The issuance of the license is going to take place soon as per the statement of deputy governor of Bangladesh Bank. BB checked business plans of the applicant banks, after which they achieved the No-Objection certificates (NOC). The Banks that gained the NOCs are NRB Commercial Bank, Union Bank LTD, South Bangle Agriculture and Commerce Bank, Meghna Bank LTD and NRB Bank LTD.  Midland Bank LTD also presented their business plan, the board however asked the applicant bank to review and clarify their plans further before representing their business strategies in their next meeting. The five banks will be receiving their NOCs by the Bank Regulation and Policy dept. (BRPD) of the Central Bank, in order for them to be able to register with the R...

People holding the topmost position of the top companies in Britain are being paid more and more every year. The issue is similar to Bangladesh in so many ways. Research showed that their payment is increasing five times more than that of an ordinary employee. For Instance, the annual pay of FTSE 100 CEO in 2011 was more than £3 million, which is an 8.5% rise from last year. It came to everyone as a surprise because last year was not good for the investors. The case is similar in Grameen Phone, Banglalink, Airtel and other mobile operators of Bangladesh. For the ordinary workers, the average salary rise was just 1.6% when the inflation rate is more than 3.5%. This is making growth prospects even harder. George Osborne, the Chancellor, has received several questions from the business community and the City Council to plan a new growth prospect. But who would ask the questions in Bangladesh? More bad news for the investors is that the FTSE 100 has fallen down more than 6.5% during the l...