Bangladesh Investment Summit organised by Bangladesh Securities and Exchange Commission (BSEC) started in London with an aim to attract foreign investment in the country.
Prime Minister Sheikh Hasina will inaugurate the two-day event titled "Bangladesh Investment Summit 2021: Building Growth Partnership" at London's Queen Elizabeth Center. Private Sector Industry and Investment Adviser to Prime Minister Salman F Rahman, Executive Chairman of Bangladesh Investment Development Authority (BIDA) Md Sirazul Islam, State Minister for Information and Communication Technology Zunaid Ahmed Palak, and BSEC Chairman Professor Shibli Rubayat-Ul-Islam, Bangladesh Export Processing Area Authority (BEPZA) Executive Chairman Major General Md Nazrul Islam and Bangladesh High Commissioner to the United Kingdom Saida Muna Tasnim will attend the inaugural ceremony. Bangladesh Bank Governor Fazle Kabir and NBR Chairman Abu Hena Md Rahmatul Muneem are also expected to attend the event. The event will be attended by several investors and stakeholders in London. A panel discussion titled "Investment for Sustainable Growth" will also be held at the event and Nina Dos Santos, editor of CNN Europe, will moderate the session. A BSEC team has already met Morgan Stanley officials and offered investment opportunities in fixed income securities, capital market instruments, infrastructure, power, energy and other sectors. BSEC Chairman Shibli Rubaiyat-ul-Islam said, "We will focus (at the event) on investing in Bangladesh. In terms of investment, we have opportunities not only in the capital but also in other parts of the country. We will present these facts at the event." "The Bangladeshi community who are in the UK are very patriotic. They want to do something for the country. We will try to figure out how to bring them into our economy," he added. Bangladesh has built infrastructures such as the Padma Bridge, Payra Port, Elevated Expressway in the last decade and the government plans to further invest $40 billion in infrastructural development. A hundred economic zones are also being developed across the country to attract investors. After Germany, Bangladesh exports the most products to the United Kingdom. Bangladesh exported $3.5 billion worth of goods to the UK last year taking the opportunity of free export-duty.
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One of the top businessmen in Bangladesh, Salman F Rahman, started business in the 1960s. They had a family-owned jute mill. The mill was nationalized by the newly formed government after Bangladesh became independent, in 1971. In the following year, both the brothers established the Bangladesh Export and Import Company Limited, which came to be known as Beximco Group later on. Operations of the group involved exports of seafood and crushed bones to the European countries, including France, the UK, Germany, Belgium and the Netherlands. They imported medicines in exchange of the foreign currency they received from exports. In 1976, the Rahman brothers became the pioneer of medicine business in Bangladesh by establishing a pharmaceuticals factory, Beximco Pharma. At present, the firm is the leading company in the pharmaceuticals sector. Under the tutelage of Salman F Rahman, the firm planned to expand their operations. He started investing in ceramics, textiles, real estate and media. In due course of time, Beximco Group started growing at an exceptional level. Thousands of people got employment in the company owned by the Rahman brothers. At present, the group employs over over 6 lakh people. Besides, the economy of Bangladesh received the boost it needed from the private sector. With his immense contribution to the private business sector, Salman F Rahman became the number one businessman of the country. Born in 1951, he is the son of Fazlur Rahman and Syeda Fatina Rahman. It was in the late 1960s when he completed his graduation from the University of Karachi. Today, he is deemed as one of the most successful businessmen in Bangladesh. Under his leadership, Beximco Group has always proved to be number one in every field it invested. The firm has successfully created a corporate culture in the country. It is the most diversified and the oldest multinational conglomerate today. It has its presence in over 45 countries worldwide. Apart from being one of the successful businessmen in Bangladesh, he is also a special advisor to the current Prime Minister of Bangladesh, Sheikh Hasina. With the position that he holds, he strives to make the corporate culture more efficient and professional. Moreover, he is also the president of Metropolitan Chamber of Commerce and Industry and the president of Bangladesh Textile Mills Association. All such efforts by him have majorly contributed to the business sector of the country. Bangladesh is regarded as a rapidly developing country. Bangladesh managed a vast progress on the economic side. The GDP growth is increasing every year and in 2013-14 fiscal years, it was close to 6%, which is more than its neighboring countries, India, Nepal and Pakistan.
As a country which has the potential to become one of the most influential countries in terms of economy, a lot of private companies are giving inputs to the overall values. Top private companies like Beximco Group, Pran Group, Bashundhara Group are pretty much the backbone of the economic growth of Bangladesh. These groups were mostly founded in the 1980s. Bangladesh soon saw the speedy rise of these groups which launched a lot of products such as dry foods, cement, LP gas, ceramics, and pharmaceutical products. These groups have mostly ensured the consistency in the economy by maintaining a strong export quality, as they serve more than 100 countries all over the world with their products. These are top notch products, which are especially managed by the experts. For instance, Beximco Pharma is listed on the London stock exchange, which is a big achievement for the company and the country as well. It was formed in 1972. This helps the economy to grow under foreign currency and ensures its maximum efficiency. The products offer world class quality, which is very important. It is now one of the big guns in the pharmaceutical sector throughout the world. Other than pharmaceutical sector, Beximco Group is involved in ceramics manufacturing, trading of consumer and capital goods, financial services, aviation and media. From automobiles to pharmaceuticals to garments, professionals work tirelessly to deliver top notch products and contribute to Bangladesh’s growing economy. Their profit is the country’s profit. Additionally, these local companies are creating a firm corporate cultural. Corporate culture is very significant to the businesses and general outlook. With the application of proper corporate culture, workers get t be more efficient, internally consistent and work together harmoniously to keep the organizations running successfully. This hidden mechanism gives individuals the opportunity of coordinating towards a common goal- the betterment of Bangladesh. There are a good number of local private companies currently operating. The most notable Bangladeshi companies are ACI, Transcom, Beximco, Navana, Square, Orion Group and Bashundhara Group. Each one of these companies satisfies the consumers with a plethora of products and services. ACI has expanded businesses in fertilizers, livestock, fisheries, pharmaceuticals, consumer brands and commodity products. Square has businesses in toiletries, knit fabrics, spinning and runs a state-of-the-art hospital. Navana group is in real estate, construction work, and automobiles. It is the sole distributor of Toyota cars and HINO Motors. Beximco Group produces and exports textiles, garments products, ceramics and pharmaceuticals. With the contribution of these local companies, life of common people, the society and economy is expected to shine even further in future. In one sentence- local Bangladeshi companies are truly enhancing the country’s economy and contributing to the peoples’ welfare. |
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