Bangladesh's Corporate World

Bangladesh is a low-income country. But it has a stable economy. Bangladesh has the second most ‘pro-capitalist population’ in the developing world to give another boost to the economy. Between 2004 and 2014 the average GDP growth rate was 6%. Since independence in 1971 the economy of Bangladesh has made a gradual progress. Now Bangladesh is considered as part of the Next Eleven Emerging Market and one of the Frontier Five. Before 1980, the economy was largely dependent on jute and jute products. From 1990s onward, textile, garment, pharmaceuticals, shipbuilding ceramics, leather goods and electronics came forward. And today, the economy of Bangladesh is led by export-oriented industrialization including the garment industry and the textile industry. Garment industries contribute the most. Up to 6-8% of the total growth of the country comes from the sector. Now, there are more than 5000 garment industries across the country. The BGMEA said textile exports are expected to rise to U...

The shortage of medical supply in Khagrachhari district is escalating for the past couple of weeks due to extortion forces. Pharmaceutical companies are saying that UPDF activists have demanded one lakh taka from every pharmaceutical companies which is causing the shortage of supply in the region. UPDF is threatening to shut down the pharmaceutical companies unless they pay up the demanded money. It has been reported that UPDF gang members intercepted Square, Beximco and Reneta medicine carrying vans and hijacked the medicines during the first and third week of July. They have also beaten up the van drivers and the delivery people in Atharomile, Mohalchhari. Riko Chakma, organizer of UPDF in Khagrachhari has totally denied these allegations and claimed that all of their operations are funded by the people and they have never used any kind of forceful way to extract money from people. He added that some other group might be using UPDF name to extract the money. The lack of medical supp...

The government of Bangladesh has banned exporting of fundamental food - rice, soya bean oil, sugar and palm oil for three years. It also took decision to enhance pharmaceutical export. The amount to be used for this purpose is approximately sixty thousand dollar, which is twice of the previous limit that expired in June 2012. Due to this new policy, the sampling amount of the letter of credit has increased from 5% to 10% per year. An official from the ministry of commerce confirmed that this decision has been made after expert consultation of the corporate houses of the country and apex trade body - the Federation of Bangladesh Chambers of Commerce and Industry and all the other necessary chambers and associations. The new policy includes some prerequisite conditions that need to be fulfilled by industries in order for them to gain access to utility services. Products such as petroleum, that fall under the energy and mineral resource category, however, are exempted from this, since...

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...

Blogging is like a digital journal where people can express their thoughts and emotions. Many companies make the mistake of underestimating the power of a company blog. The case is indifferent for corporate houses in Bangladesh. Here are 5 reasons why every company should have their own blog: Motivating Your Employees An employee is much more valuable to a company than the company gives him credit for. If the employees are happy and motivated, the company is bound to run smoothly. As a manager, you can always make a special mention of the hardest working employees in your company blog. Not just other employees, but also the families of those mentioned employees will be able to see this achievement on the blog. This will be a huge motivation for the employees. The one whose name is there will be really happy and others will try extra hard to get their own names there. Marketing Tool Blogging can be used as a cheap but powerful marketing tool. There are a lot of int...

About 67% people of Bangladesh are directly or indirectly associated with farming in Bangladesh. Land being exceedingly fertile, the agricultural possibilities of Bangladesh are huge. Bangladesh is the 4th largest rice producing and the 2nd largest jute producing country in the world. Bangladesh also holds a respectable position in growing various seasonal and tropical fruits. This sector of Bangladesh can become successful if the farmers are properly trained and modern technologies are applied. Bangladesh has an ample stock of natural resources as well. The country also has quite a large amount of natural gas. Besides, Bangladesh possesses some coal, hard rock, lime stone and silicone stockpile. At present, the Electric sector of the country is being operated by natural gas and coal. But due to the heavy demand, Bangladesh will very soon have to look for renewable sources of energy. The main industries of Bangladesh are textile, readymade garments, tea processing, newsprint pape...