Bangladesh's Corporate World

Beximco Pharma, is a generic drug player committed to providing access to affordable medicines. It's state-of-the-art manufacturing facilities have been accredited by the regulatory authorities of USA, Australia, European Union, Canada, and Brazil, among others, and it currently focuses on building presence in many emerging and developed markets around the world. The company received US Food and Drug Administration (FDA) approval for flecainide acetate 50mg, 100mg and 150mg tablets. The company announced this last week. Flecainide acetate is the generic equivalent to 3M Pharmaceuticals' 'Tambocor'. Beximco Pharma was founded in 1976 and started operations in 1980, manufacturing products under the licenses of Bayer AG of Germany and Upjohn Inc. of United States. Today Beximco Pharma manufactures and markets its own branded generics for several diseases including AIDS, cancer, asthma, hypertension, and diabetes for both national and international markets. It was the first...

  Salman F Rahman MP, chairman of the board of directors of the IFIC Bank Limited, presides over the 43rd annual general meeting (AGM) of the bank. Vice Chairman Ahmed Shayan Fazlur Rahman , Directors of the bank -- Anwaruzzaman Chowdhury, Rabeya Jamali, ARM Nazmus Sakib, Quamrun Naher Ahmed, Zafar Iqbal and Managing Director and CEO of the bank M Shah A Sarwar and Company Secretary Mokammel Hoque attended the virtual meeting. Source: The Independent

Intertek entered into an exclusive services appointment and strategic partnership with BEXIMCO Group. Intertek is a leading total quality assurance provider to industries worldwide and Beximco is a diversified private sector group in Bangladesh across a wide range of industries, and one of South Asia's largest vertically integrated textile and garment companies. BEXIMCO Group, based in Dhaka, has recently set up a new PPE Industrial Park, close to their company headquarters, having exported 6.5 million PPE gowns to the USA, with a vision to become one of the major players in PPE manufacturing globally. The spread of COVID-19 has seen the demand for PPE rise significantly and as disease continues to spread throughout the globe, the World Health Organisation (WHO) has described, the chronic, global shortage of PPE as “one of the most urgent threats to our collective ability to save lives.” South Asia and Bangladesh is now emerging as the new hotspot for PPE manufacturing and have ram...

Beximco Group took business initiatives after the COVID-19 outbreak and all the initiatives proved to be right. The company that calls itself the country's largest private-sector employer turned the COVID-19 outbreak into an opportunity and showed its ability to churn out advanced products. The pharmaceutical business of Beximco Group was the first to start making and exporting a generic version of remdesivir, a drug in the spotlight as a treatment for COVID-19.The textile and apparel unit of the company, one of the largest in Bangladesh, in May 2020 exported 6.5 million medical gowns custom made to the specifications of the U.S. Federal Emergency Management Agency. Beximco Group has a long history of doing the right thing at the right moment. It also has a history of coming forward in times of need. The group, founded by siblings Ahmed Sohail Fasihur Rahman and Salman Fazlur Rahman, began as a commodity trading house in the 1970s before expanding into sectors including energy, ba...

Commerce ministry said it would establish four specialised technology centres in economic zones with an eye to boosting export earnings through adopting new technologies. Under a project, it will establish three state-of-the-art TCs at Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram and a specialised design and technology centre at Bangabandhu Hi-Tech City in Gazipur. To this effect, the Export Competitiveness for Jobs (EC4J) Project signed on Tuesday two land lease agreements with Bangladesh Economic Zones Authority (BEZA) and Bangladesh Hi-Tech Park Authority (BHTPA). BEZA executive member Md Abdul Mannan, BHTPA director ANM Safiqul Islam and EC4J project director Md Obaidul Azam inked the deals on their organisations' behalf at the BEZA headquarters. Commerce minister Tipu Munshi joined as the chief guest and PM's private industry and investment adviser Salman F Rahman and state minister for ICT Zunaid Ahmed Palak as special guests. BEZA executive chairman Paban Chowdhu...

Beximco Group took the opportunity to help the world in the time of COVID-19 and started manufacturing personal protective equipment. Coronavirus has changed the world. Beximco Group is trying its best. The brand is otherwise a major supplier  of Zara, Calvin Klein and Tommy Hilfiger. Beximco Textile division exported 6.5 million medical gowns to US brand Hanes in May. It plans to export $250 million worth of protective gear this year. 60 percent of its 40,000 workers are engaged in PPE making. Bangladesh over the past two decades became the world's second-largest ready-made garment exporter after China, making clothes for the likes of Primark and H&M. Before the pandemic, it accounted for around 80 percent of the country's $40 billion annual exports and employed more than four million people, many of them women from poor rural villages. But when the world started to go into lockdown, the country's 4,500 manufacturers saw shipments plunge by a staggering 84 percent in ...

Prime minister Sheikh Hasina on announced a new stimulus package to waive Tk 2,000 crore bank interest of the people affected badly by the nationwide shutdown enforced to contain the coronavirus pandemic. The premier made the announcement while formally publishing the SSC and other equivalent exam results through a videoconference from her official Ganabhaban residence in Dhaka. She said the government earlier suspended the payment of interest of the loans for two months which the people took from the (commercial) banks for business purpose. After Bangladesh was hit by COVID-19, the government led by Prime minister Sheikh Hasina, started working out effective policies. She is assisted by her advisors including the Private Sector Industry and Investment Adviser Salman F Rahman. ‘Today, we’re declaring a new incentive package which is the 19th. Under the package, the borrowers need not to repay Tk 2,000 crore interest of the credits which they took from the banks for doing busi...