business
MCCI lauds EPB’s decision to extend validity of Registration Certificate
Metropolitan Chamber of Commerce and Industry (MCCI) has applauded the Export Promotion Bureau’s decision to extend the validity of Registration Certificate (Enrollment Certificate).
“MCCI extends its warmest appreciation to the Export Promotion Bureau (EPB) for their recent decision to extend the validity of the registration certificate, also known as the enrollment certificate, to five years,” said a press release on Thursday.
This progressive move by EPB demonstrates their commitment to fostering a thriving export environment in Bangladesh, the press release reads.
MCCI said the decision to extend the validity of the registration certificate from one year to five years is a significant milestone which would simplify procedures and reduce bureaucratic hurdles for exporters in the country.
“This proactive measure will undoubtedly facilitate the growth of Bangladesh's export industry and empower businesses to operate with greater efficiency and stability,” it added.
MCCI believes the EPB decision will enhance the confidence of exporters in Bangladesh and attract foreign investment by showcasing the government's commitment to supporting and promoting the export sector.
“The extended validity of the registration certificate will contribute to strengthening Bangladesh's position as a reliable and competitive player in the global market,” the press release reads.
The trade organization lauded government’s active cooperation with the private sector to promote trade and commerce by easing various regulatory processes.
“MCCI congratulates all government officials and private sector representatives who took relentless efforts to facilitate the ease of doing business in Bangladesh.”
BGMEA, Fred Hollows Foundation intend to collaborate on providing eye care to garment workers
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Fred Hollows Foundation have expressed willingness to collaborate in improving eye health of garment workers in Bangladesh.
Jennifer Gersbeck, an executive director of Global Advocacy and Dr. Najmus Sahar Sadiq, cluster director (Bangladesh, Myanmar and Nepal), of the Fred Hollows Foundation, met BGMEA Director Neela Hosna Ara to discuss how both organizations can work together in ensuring quality eye care services for the garment workers. The meeting was held at BGMEA Complex in Uttara, Dhaka on Wednesday, said a BGMEA media release.
BGMEA and the Fred Hollows Foundation intended to work collaboratively in providing eye treatment to the workers in the garment factories and BGMEA Health Centers and also raising awareness among them about eye care.
The collaboration aims to facilitate eye examination, diagnosis of eye conditions and access to treatment for workers in need.
BGMEA Director Neela Hosna Ara thanked the Fred Hollows Foundation for their willingness of support, saying BGMEA welcomes initiatives that aim to ensure well-being of garment workers.
The Fred Hollows Foundation is an Australia-based aid organization that focuses on treating and preventing blindness and other vision problems.
Time to explore vast untapped potential in SAARC region: FBCCI president
Federation of Bangladesh Chambers of Commerce and Industries President Md Jashim Uddin said on Wednesday that the SAARC has low intra-regional trade of 5 percent, which means there is still vast untapped potential.
“It is more important than ever we must recognise the significance of using our regional strengths and working together towards a common vision in a rapidly changing world,” he said.
The FBCCI president came up with the remarks while addressing at a conference on ‘Harnessing Regional Strengths: Importance of SAARC for South Asia’s Growth’ held on Wednesday in Dhaka, a press release said.
Jashim Uddin said the private sector holds the key to unlocking this opportunity by venturing into new markets, diversifying product portfolios, nurturing cross-border business collaborations and removing trade barriers including NTBs.
Setting up B2B mutual trade Facilitation committee of the SAARC Chamber of Commerce and Industry may be established for support, he said.
He also said that the world is witnessing significant shifts in the global economic landscape, and South Asia has a unique opportunity to position itself as a major player in the global trade and investment arena.
“The region is also blessed with immense resources, a young and talented workforce, and a growing consumer market. By rethinking our regional integration strategies, we can leverage our relationship to new heights,” he said.
SAARC CCI needs to activate its working groups and strengthen its capacity to in driving business conducive initiatives including transport and logistics infrastructure, harmonizing trade procedures, promoting digital connectivity, regional supply chains and private service sector collaborations including tourism, he observed.
The business leader said considering the close ties between Bangladesh and India for the geographical position it has a huge potential to grow business.
“We call upon both the governments of Bangladesh and India to enable an extension of LDC treatment to Bangladesh even after its graduation in 2026 up to the enforcement BD-India CEPA,” he said.
Strengthening mutual institutional coordination of trade support agencies, harmonising mutual trade rules, complimentary infrastructure development initiatives, regional energy resources for mutual benefit are the keys to sustainable and incremental development of trade and economy of the two countries, he mentioned.
Jashim said that Bangladesh’s growth trajectory and development success as an emerging strong middle-income country under the leadership of Prime Minister Sheikh Hasina can offer several complimentary advantages to South Asian counterparts. The private sector is keen to explore business collaborations in manufacturing, agro-processing, industrial machinery, clean energy, ICT, and FMCG among others with value chain linkages and market prospects.
During his welcome speech, FBCCI Senior Vice President Mostofa Azad Chowdhury Babu said that with promising ties among the 8 member countries, SAARC has the potential of being one of the most dynamic and emerging regions in the world. At present the region has consistently high growth as many countries and regions of the world tackle their slow-paced economic growth.
“Cross-border investments, simplifying customs procedures and developing efficient logistics networks within SAARC can facilitate trade. We may closely work with the apex trade bodies and initiate country-specific and regional programs for improving the economic cooperation and capacity building of our SME’s sector and tapping the potential of women-led SMEs for regional trade,” he added.
Former President of SAARC CCI (Sri Lanka) Ruwan Ediringehe said that SAARC nations have all 4Ms (Manpower, Market, Money and Materials) but they are yet to utilise it.
“SCCI has deliberately failed from last decade to pressurize their national chamber to enhance trade between the region. We need to take necessary actions to minimise those barriers,” he said.
Vice President of SAARC CCI (from Pakistan) Anjum Nisar said, “Other regional associations like EU, ASIAN, NAFTA are doing very good and they are getting regional benefit but it’s still unfortunate for us, that we couldn’t utilize SAARC till now. We have huge potential in the area of tourism, agriculture, fisheries, industries, human development and many more. It’s time we push the govt. of each country to seize the untapped opportunity in this region”.
Deputy Head and Senior Economic Affairs Officer at UN ESCAP South and South-West Asia Office Dr Rajan Sudesh Ratna was present as the guest speaker.
The programme was moderated by Dr M Masrur Reaz, chairman of the Policy Exchange of Bangladesh. Former Cabinet Minister of the government of the Maldives Mariyam Shakeela, former President of SAARC CCI (Sri Lanka) Ruwan Ediringehe, Vice President of SAARC CCI (Nepal), and Past President of the Federation of Nepal Chamber of Commerce & Industry (FNCCI) Chandi Raj Dhakal, Vice President of India -Bangladesh Chamber of Commerce & Industry (IBCCI) Sanjay Basu, EC Member of Afghanistan Chamber of Commerce & Industry Janaqa Siddiqui and others business leaders were present at the programme.
Transsion Holdings opens smart devices factory in Bangladesh
Transsion Holdings, a leading provider of smart devices and mobile services, has opened its ISMARTU factory to meet the growing demand for smart devices in Bangladesh.
Supported by the new factory, located in the Meghna Industrial Economic Zone, Narayanganj, was officially opened by Transsion Holdings Chairman George Zhu Vice President Arif Chowdhury, ISMARTU Bangladesh Managing Director Willy Cui and ISMARTU Bangladesh chief executive officer Rezwanul Hoque.Telecommunications Minister Mustafa Jabbar inaugurated the factory virtually as the chief guest while Bangladesh Economic Zones Authority Chairman Shaikh Yusuf Harun was the special guest on the occasion.BTRC VICE Chairman Engr Md. Mohiuddin Ahmed and Song Yang, Economic and Commercial Counsellor of the Embassy of China in Bangladesh were guests of honour at the ceremony, it said.ISMARTU Technology BD Limited, a subsidiary of Transsion Holdings, represents smart brands such as TECNO, itel, Infinix, oraimo and Syinix in Bangladesh.With a population of over 170 million people and increasing consumer demand for affordable smartphones with high-end features, Bangladesh presents significant market opportunities, it said.Minister Mustafa Jabbar in his speech applauded Transsion for offering affordable devices in line with the government's commitment to bridging the digital gap among people.
Chairman Zhu acknowledged Bangladesh as a strategic market for the company's business expansion, said the release.Zhu expressed optimism that the investment in Bangladesh through ISMARTU would not only accelerate the company's local development but also contribute to the digitization and modernization process of Bangladesh.
The total investment of the first phase of the new ISMARTU factory is about USD 22 million, which demonstrates Transsion’s commitment to the local market. From design to construction, the new factory introduces more advanced production standards, with a more scientific layout to better meet the needs of modernized mobile phone production, the release added.The establishment of the factory is expected to generate employment opportunities for over 2,000 local individuals, contributing to the local economy and supporting career growth within the region, it said.Transsion remains dedicated to investing in education and training, empowering local talent, and fostering skill development, the press release added.
Here's how you can apply for a Canadian work visa from Bangladesh
Canada is a North American country known for its friendly people, stunning natural beauty, and thriving economy. It is the world's second-largest country in terms of land area and is located north of the United States. With a population of over 38 million, Canada is a multicultural country with a diverse range of languages and traditions.
For skilled Bangladeshi professionals, Canada offers many opportunities. The Canadian government will be increasing its immigration targets over the next few years, which means that there will be more opportunities for skilled foreign workers to come to Canada and contribute to its economy.
However, in order to work in Canada, foreign workers must obtain a work permit visa. This can be a complex process, and it is important for Bangladeshi workers to understand the requirements and procedures involved. Although there are work permits available for skilled workers and temporary workers, Bangladeshis have a great chance with acquiring skilled working visa.
Read more: Malta Work Permit Visa for Bangladeshi Citizens
Different types of work permits in Canada
Depending on the type of work, location in Canada, and the individual's qualifications, a few types of skilled migration programs are available in Canada. However, the process is a bit complex and time-consuming.
Express Entry – Federal Skilled Worker
The Federal Skilled Worker (FSW) stream is aimed at individuals with a minimum of one year of experience in a profession that requires a certain level of expertise. The Comprehensive Ranking System is used to determine the suitability of applicants for immigration. The most qualified individuals will be chosen for immigration based on their scores. You can calculate the score and check the eligibility from this link. https://www.cic.gc.ca/english/immigrate/skilled/crs-tool.asp
For detailed CSR, follow this link: https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/eligibility/criteria-comprehensive-ranking-system/grid.html
Read more: Malaysia My Second Home (MM2H): Who’s eligible for Malaysian Golden Visa, Investor Visa?
BGMEA President emphasizes investment in youth development for turning Bangladesh into knowledge-based economy
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan said youth is the most valuable asset as they would be the main driver of economic growth of Bangladesh in the coming years.
Bangladesh would require a transition from a labour-based economy to a knowledge-based one to become a developed country where the role of young people would be instrumental, he said.
“We have to invest in our young people to develop them as human resources with up-to-date knowledge and skills so that they can take the lead in turning Bangladesh into a knowledge-based economy,” he added.
He made the remarks while addressing the grand finale and prize giving ceremony of the 5th BUFT Intra Batch Football Tournament-2023 held on the playground of BGMEA University of Fashion and Technology (BUFT) on Tuesday, said a BGMEA media release.
Chairman of the Board of Trustees of BUFT Md Shafiul Islam Mohiuddin, also a lawmaker and BUFT Pro-Vice Chancellor Prof Dr Engr Ayub Nabi Khan, among others also spoke at the function.
BGMEA Vice President (Finance) and also BUFT Trustee Board member Khandoker Rafiqul Islam, former Vice President and BUFT Trustee Board member Md Moshiul Azam (Shajal) and BGMEA Director and BUFT Trustee Board member Md Sajjadur Rahman Mridha (Shipon) were also present at the prize giving ceremony.
In his speech as the chief guest, BGMEA President Faruque Hassan said artificial intelligence (AI), information technology (IT), robotics were the sectors having massive impacts on how the world now lived and operated.
“Our students must be trained and upskilled appropriately to enable them to perform in this era of technological evaluation,” he said.
Stressing on the importance of sports in youth development, he said sports not only develops leadership skills among students but also strengthens bonding among them.
Batch 201 of BUFT became champion beating Batch 222 of the university by 3-0 in the final match of the tournament.
Nagad founder wins Kotler Iconic Achiever of the Year Award-2023
Tanvir A Mishuk, founder and managing director of Nagad Limited, has been conferred the Kotler Iconic Achiever of the Year-2023 Award in recognition of his innovation approaches in business management and exceptional performance in marketing systems.
Kotler Awards, which are named after Dr Philip Kotler, a celebrated marketing and management guru, have formally been introduced in Bangladesh from this year to recognise outstanding marketing campaigns, initiatives, and professionals who have contributed excellently to advance the marketing landscape in the country.
Planning Minister M A Mannan on Monday handed over the prestigious Kotler Award to Tanvir A Mishuk at a gala night held at a five-star hotel in Dhaka during the Modern Marketing Summit 2023, says a press release.
The event was jointly organised by Northern Education Group and Kotler Impact Inc., a leading marketing consultancy firm.
In his speech, Planning Minister M A Mannan said, "The world is moving forward. That is why it is important to follow new techniques and methods in marketing. It is time to spread around the world who we are, what we are doing, and what we are aiming for. Our Prime Minister and we also present our own achievements to the IMF, the World Bank, through which we are trying to brand Bangladesh."
After receiving the prestigious award, Founder and Managing Director of Nagad Tanvir A Mishuk said, "In the last four years, not 16 crore people of Bangladesh alone, there is no expatriate Bangladeshi anywhere in the world who does not know the name of Nagad."
"From the beginning, I have done only one thing: I have spoken the language that people can pick up easily. I spoke and worked in such a way that a farmer, a laborer could easily understand. In that case, I did not follow brand guidelines, colors or any such old rules," he added.
Prime Minister's economic adviser Dr. Mashiur Rahman was present as a distinguished guest at the programme.
Dr Fahim Kibria, chief marketing officer of Kotlar Impact, and Prof Dr Anwar Hossain, vice-chancellor of Northern University of Bangladesh, were also present at the event.
Earlier, the cover of the Bangladesh edition of the book titled "Essentials of Modern Marketing", written by Professor Philip Kotler, popularly known as the "father of modern marketing" around the world, was unveiled at the programme.
Nagad, because of its ground-ground-breaking innovations, has been featured as a case study in the book, while Tanvir A Mishuk, has worked as a case co-author for this book.
Tanvir has established himself as an icon among the young entrepreneurs of the country by establishing several other digital companies including Nagad.
He previously received numerous international accolades, including the "Fintech Personality of the Year 2022" award by the UK-based Global Brands Magazine.
Banking sector getting stabilised, but still needs time to be on track: ABB
The leaders of the banking sector -Association of Bankers, Bangladesh (ABB) on Monday said banks were still facing the foreign exchange crisis to open LCs, and its ratio is 4 out of required 10 LCs.
Though the banking sector has slightly been stable this year, it will take time to get back to the situation of 2018 or early 2019. A few banks have to make deferred payments so far, the ABB leaders said.
The ABB leaders made such comments at a news conference at the BRAC Bank head office complex in Tejgaon on Monday, to brief on updates on the banking sector.
ABB Chairman Selim RF Hussain, also managing director and chief executive officer (CEO) of BRAC Bank Limited, while Mashrur Arefin, vice-chairman and managing director and CEO of City Bank, also spoke, among others, at the press conference.
Selim RF Hussain said that the country's banking sector has not seen an economic recession in 2022 due to the external effect, the pressure of macroeconomics, and the crisis of reserves was not seen in the last 35 years.
The country went into a severe recession in June-July last year. In this year, the value of domestic currency has fallen by 25 percent, which is unimaginable, he said.
The ABB Chairman said whether the interest rate should be based on the market or existing way is better should be looked into. The interest rates pegged at 6 and 9 percent helped the economic recovery, he said.
ABB Vice-Chairman Mashrur Arefin said that the banking sector is starting to overcome the economic recession caused by the Russia-Ukraine war and the COVID-19 pandemic.
As a result, deposits are increasing but loan disbursements are decreasing. Due to this, there is excess liquidity of Tk1.35 lakh crore than required by banks, he said.
He said that the people of the country still have trust in the banking sector. Because of this, now deposits are increasing, and remittances are also increasing.
Arefin said that the rate of dollars in remittance has increased from Tk 87 to Tk108.
Md Jashim Uddin to be the new SAARC Chamber president
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Md Jashim Uddin is going to be the new president of the South Asian Association for Regional Cooperation -SAARC Chamber of Commerce and Industry (SCCI), the apex trade body of the South Asian Region.
He will serve as the president of SCCI for the period of 2023-2024, according to an FBCCI press release.
Md. Jashim Uddin will succeed Pakistan’s Iftikhar Ali Malik, who served as the president from June 2020 to May 2023.
Generally, the president is elected from eight SAARC countries — Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka — every two years. Earlier, two presidents elected from Bangladesh were Salman F Rahman (1996 to 1997) and Annisul Huq (2010 to 2011).
Md. Jashim Uddin was born to a well-reputed business family on January 1, 1965, in Sonaimury, Noakhali, Bangladesh. He is the son of the late Al-Hajj Idris Miah and the late Tahera Begum. He completed his graduation with a Bachelor of Commerce from the University of Dhaka in 1986.
During his graduation from university, Jashim Uddin joined the Board of Bengal Group of Industries as Director in 1983, the press release reads.
Bengal Group is a diversified conglomerate with interests in a variety of sectors, including plastics, pharmaceuticals, and renewable energy.
He is the Chairman of Bengal Commercial Bank Limited. He is the Vice-Chairman of the Board of Directors of the Bengal Group of Industries & Bengal Media Corporation (RTV).
Jashim Uddin is a prominent leader in the business community of Bangladesh. He is the current president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade body of Bangladesh. He is also the president of the Bangladesh Plastic Goods Manufacturers and Exporters Association.
Jashim Uddin has received numerous awards and recognition for his contributions to the business community and the economy of Bangladesh. He was awarded the Commercially Important Person (CIP), the Best Enterprise Award, "Prime Minister's National Export Trophy-Gold" several times due to his contributions to the country's economy.
He has also achieved the "President Industrial Development Award -2009" & "Best Enterprise Award-2007"
Walton exports air conditioners to Yemen, Mali
Walton is exporting “Made in Bangladesh” labeled air conditioners to Yemen and the West African nation Mali.
Walton is now exporting and marketing ACs to the markets of these countries with its own brand name along with exporting its ACs to Asia, Middle East, Africa and Europe, said a press release.
Walton AC’s Chief Business Officer Md Tanvir Rahman said they are moving forward to the international market with strategic roadmaps to become one of the top global consumer electronics brands.
He also said Walton has shipped ACs for a local electronics brand in Yemen back in 2019.
Walton exported different series of ACs to those countries, said the release.
Walton on the other hand is also exporting and selling ACs to Mali with its own brand logo.
Walton AC’s Head of Sales Muhaiminul Bari said the AC market is expanding across the globe as Walton is manufacturing and marketing environment-friendly international standard energy efficient ACs.
Walton ACs are being manufactured at its international standard production plant at Chandra of Gazipur which is equipped with state-of-the-art technologies, it also said.
Walton is also producing and marketing 1.5 tons to 5 tons of cassette and ceiling type ACs. Every AC of Walton is being marketed after getting a quality-control certificate from the international standard testing lab Nadsat-UTS.
Along with one year replacement, Walton is offering up to 10 years warranty on inverter AC compressors.
Walton provides after-sales services from 79 service centers across the country along with more than 400 service partners.
Meanwhile, Walton’s highly experienced as well as skilled engineers and technicians are providing free service to AC buyers every 100 days.