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Bangladesh Economy: News & Updates

BikeBD channel suggests otherwise: https://www.youtube.com/user/BikeBD/videos

But they are ashamed to review even one BD made bike (Walton, Jamuna)....so sad. :P

The majority of local bikes made are of the econo low-end variety and therefore the impetus to test these low end products are not really there. But slowly the local manufacturers are moving up to mid-grade territory and they will sponsor reviews and media junkets for local press if not some sort of social buzz...

These guys are in the business to make money, not please a few handful of bike enthusiasts...

You have to hold your horses, this is still new territory for local makers....unlike in India which is a huge market.

And for God's sake when will they get rid of the local 150 cc cap... it's holding back a lot of good bikes to be sold locally...namely the upper end gixxers....:disagree:
 
The majority of local bikes made are of the econo low-end variety and therefore the impetus to test these low end products are not really there. But slowly the local manufacturers are moving up to mid-grade territory and they will sponsor reviews and media junkets for local press if not some sort of social buzz...

These guys are in the business to make money, not please a few handful of bike enthusiasts...

You have to hold your horses, this is still new territory for local makers....unlike in India which is a huge market.

And for God's sake when will they get rid of the local 150 cc cap... it's holding back a lot of good bikes to be sold locally...namely the upper end gixxers....:disagree:

Yup I got the general gist of it when I saw the Walton production line video.

I was just semi-trolling as usual :D

One thing Bangladeshis are not short on is ambition....which is a good thing.

Reminds me of Indian industry attitude in 90s when many thought the world was our oyster.

I hope at least you guys will never lose this spirit.
 
Bangladesh company may buy Japanese supramax bulker ship
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Bangladeshi shipping concern S.R. Shipping is likely to buy a Japanese supramax, according to a report by Splash247.com.

The 55,000 dwt Aston Trader II is the latest in a string of bulker sales from Japan’s Nisshin Shipping. S.R. Shipping is reported to be paying $6.8m for the 2008-built ship.

Nisshin has been offloading bulkers rapidly in the past six weeks to focus more on tankers. Brokers tell Splash that another 10 Nisshin bulkers have been put into the shop window.

SR Shipping is a part of the Kabir Group, a diverse Bangladeshi conglomerate. The line has around 10 bulkers on its fleet list.
 
Iran plans to invest $1b in Bangladesh
Iran is keen to invest more than one billion US dollars in Bangladesh as the Persian Gulf nation is resuming its international trade after the lifting of the economic sanctions that had left the country outside the global economy for more than a decade.
Iranian Ambassador in Dhaka Dr. Abbas Vaezi conveyed the interest on behalf of a visiting Iranian delegation at a joint press briefing in the capital on Saturday.
The press briefing was arranged at the FBCCI office after the Iranian delegation held a meeting with the apex trade body’s President Abdul Matlub Ahmad.
The Iranian delegation said there are huge bilateral trade potentials for both the countries in cement and clinker, energy, gas, LP gas, LP gas cylinder manufacturing, rail links, coach and locomotive engine, plastic, food and pharmaceuticals, road-bridge construction, tourism and jute sector.
Dr. Abbas Vaezi said the visit was meant for acquiring knowledge about the industries and business opportunities in Bangladesh. “Iranian businesses are keen to invest both in public and private sectors in Bangladesh,” he said.
The Iranian ambassador said, “The Iran delegation had a series of fruitful meetings with government and businesses, we hope the visit will help us explore the potential business opportunities here.”
He also said Iran wants to diversify its investments in various sectors, such as gas, cement and clinker, rail way industry beside oil.
“Iran imports huge medicines, and Bangladesh also exports medicines to many countries. We can utilise the facilities of LDC through joint-venture investment in Bangladesh’s pharmaceutical industry,” the Iranian envoy said.“We want our investment to cross one billion dollars to develop a strong bilateral trade tie with Bangladesh,” Dr. Abbas Vaezi said.
Adviser to the Minister of Industry, Mine and Trade Mohammad Reza Mowdoody is leading the Iranian delegation during its five-day visit. “It’s time to start a long term relationship,” the Iranian envoy said at the press conference.
He also invited Bangladeshi businesses to visit Iran to see first-hand the prospects of businesses in Iran. The FBCCI president also invited the Iranian investors to invest in especial economic zones in Bangladesh.
He said Bangladesh is developing 100 economic zones in different parts of the country to facilitate necessary infrastructure for the investors.

Iran plans to invest $1b in Bangladesh | daily-sun.com


Bangladesh achieves $2 billion Balance-of-Payment surplus in six months -
bdnews24.com
 
Fourth aircraft added to fleet
NOVOAIR to launch services to Guwahati from April 1

01 Jan , 2016
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Dhaka : NOVOAIR, the premium and leading airline of Bangladesh, is expected to launch services to the Indian city of Guwahati from April 1, 2016.

The flights, another first by NOVOAIR, will be operated with ATR72-500. Till now Bangladeshi passengers had to fly to Kolkata and then to Guwahati and return through the same route. The flights will bring about a change.
Many Assamese businessmen dealing in tea have to come by road to attend tea auctions in Chittagong. The flights will ease their travel.

The airline added fourth aircraft to its fleet on December 29. ATR72-500 is French-Italian manufactured ultra-efficient and technologically advanced aircraft with 68 spacious, comfortable seats.

This aircraft touched down at Hazrat Shahjalal International Airport Dhaka at 6:00pm on December 29, and a warm reception was given by the high officials of the Ministry of Civil Aviation and Tourism, Civil Aviation Authority of Bangladesh, Airport Authorities and NOVOAIR officials to welcome this new aircraft.

Another two ATR72-500 series aircraft will be added on NOVOAIR fleet by January 2016, which will increase NOVOAIR fleet size to six aircraft. These new aircraft's will be operated on regular flight services between Dhaka and Saidpur, Rajshahi, Barisal and regional routes.

NOVOAIR is ensuring the highest level of safety and maintenance standards by complying with every Rules and Guidelines implemented by Bangladesh Civil Aviation Authority.

ATR72-500 series is recognised for its technologically advanced features like, lowest level of greenhouse gas emission, acoustic treatment on Noise Control and Vibration reduction, optimum level of comfort, additional overhead space, to mention a few features. These aircrafts are equipped with "Inflight Entertainment System (IFE)", first of its kind in Bangladesh domestic scenario and very rarely used elsewhere for such short sectors.

NOVOAIR is operating regular flights from Dhaka to Chittagong, Cox's Bazar, Jessore, Sylhet and Yangon with three Embraer aircraft since January 9, 2013 and have been crowned as the Best Domestic Airline in Bangladesh. Also earned 97.7 per cent satisfied passenger on-board with 98.3 per cent On-Time departure.
 
Why is the Bangladesh economy different?

Biru Paksha Paul
Heavy snow in New York left me stranded in an airport hotel where I met a Pakistani woman in the dining room. She expressed her frustration over Pakistan's economic performance. Being a sister of a Pakistani Army official, she claimed that the country could have done much better had it been run by the military. She went as far as to guarantee that the army can eradicate terrorism within the shortest span of time. She seemed to harbour a little envy over Bangladesh's growth and did not hesitate to ask about the 'secrets' that make the country different from Pakistan or other South Asian countries. Her questions warmed my heart even in the midst of a devastating blizzard that had disrupted the lives of New Yorkers.

Since the 1980s, Bangladesh's decade-wise average growth shifted roughly one percentage point higher, starting from 3.5 percent to reach 6.5 percent in the 2010s. The case is just the opposite for Pakistan. This contrasting growth performance resembles the takeoff and landing of a planning that justifies Bangabandhu's call for Bangladesh's independence almost half a century ago.

The first element that makes Bangladesh different is its pro- developmental leadership. Coming out from the womb of socialist planning, a rapid march for privatisation and market economy has been difficult for a beleaguered nation. Our leadership took that risk to unleash the potential of private enterprises, displeasing a bunch of policymakers and influential economists who initially empowered the bureaucracy by drumming the omnipotence of public enterprises in an indiscriminate manner across the board.

The post-independence planners were so influential in convincing Bangabandhu that Bangladesh will turn into a paragon of progress by simply following a full-scale model of massive nationalisation. A bureaucracy-led business plan did not work in other parts of the world, nor did it function in Bangladesh. The theoretical utopia soon nosedived just after its launching, sending growth prospects down and making Bangladesh a developmental guinea pig. Over the 1970s, Bangladesh's average GDP growth was 1.5 percent mainly because of three reasons: 1) war 2) massive nationalisation and losing spree in all public enterprises and 3) policy switch toward denationalisation.

Steering Bangladesh's policy in a diametrically opposite direction had truly been challenging. The liberalisation policy graduated in three steps in the mid 1980s, early 1990s and mid-1990s, marking a wonderful consensus of the pro-market move by all three major political parties - a much needed consensus rarely seen in a newly independent developing nation. That made Bangladesh different from its competitors. The difference also came through the indomitable character of its people. Given the lowest investment in research, Bangladeshis can make the highest amount of innovations as seen in agriculture and services. Despite the high level of corruption, particularly evident in public utilities, Bangladeshis made widespread progress in businesses and services by upholding their considerable dedication. This makes us different.

Bangladesh is a land of continuous positive surprises. At a time when we were focusing on jute, no one probably saw the garments industry emerging, pushing the golden fibre in the page of history, as it occupies an 80 percent share in exports. No one saw the mobile phone industry entering Bangladeshi market vigorously to bring a renaissance in our private and business lives, acting as an integral device for a digital Bangladesh. Who would have thought that cell phones would revolutionise financial transactions to synchronise the heartbeat of the economy with external civilisations and to spur inclusive growth. No one ever thought that Bangladesh, gaining independence a quarter of a century after India and Pakistan, will exceed its privileged neighbours in life expectancy, which is 71 years in Bangladesh – at least five years higher than India's or Pakistan's. These positive surprises make Bangladesh different.

The country is different in projecting 7 percent growth for the FY2016 even with the lowest fiscal capacity, sending a message that a rapid rise in the tax-GDP ratio is warranted to accelerate the growth engine. Both India and Pakistan accumulated huge debts from foreign and domestic sources, while Bangladesh did not. The debt burden rose as high as two-third of their respective GDP when the number is only one-third for Bangladesh. Thus Bangladesh's respectable growth - much higher than Pakistan's and slightly lower than India's - is free from debt anxiety. This also sets us apart.

Bangladesh's economic openness of almost 40 percent, as measured by the trade-GDP ratio, is gradually rising without triggering excessive volatility. Our inflation and growth volatility, which is the lowest in the region in the last 20 years, marks another specialty for Bangladesh. The per capita income has shown a rising trend since 2009, and it is higher than the trend that began in 2002. When I shared this information with the lady originally from Quetta of Pakistan, she did not seem amused. I also shared that the country is one of the strongest growth generators in the world and surveys indicate that almost 70 percent people of the country claim to be happy. This is another point of our difference.

We Bangalis know how to rise from the ashes, we know how to adapt to changes, and we know how to be resilient to bring back the note of vibrancy in the realm of investment and economic growth. This is what makes us different.


Why is the Bangladesh economy different? | The Daily Star
 
Why is the Bangladesh economy different?

Biru Paksha Paul
Heavy snow in New York left me stranded in an airport hotel where I met a Pakistani woman in the dining room. She expressed her frustration over Pakistan's economic performance. Being a sister of a Pakistani Army official, she claimed that the country could have done much better had it been run by the military. She went as far as to guarantee that the army can eradicate terrorism within the shortest span of time. She seemed to harbour a little envy over Bangladesh's growth and did not hesitate to ask about the 'secrets' that make the country different from Pakistan or other South Asian countries. Her questions warmed my heart even in the midst of a devastating blizzard that had disrupted the lives of New Yorkers.

Since the 1980s, Bangladesh's decade-wise average growth shifted roughly one percentage point higher, starting from 3.5 percent to reach 6.5 percent in the 2010s. The case is just the opposite for Pakistan. This contrasting growth performance resembles the takeoff and landing of a planning that justifies Bangabandhu's call for Bangladesh's independence almost half a century ago.

The first element that makes Bangladesh different is its pro- developmental leadership. Coming out from the womb of socialist planning, a rapid march for privatisation and market economy has been difficult for a beleaguered nation. Our leadership took that risk to unleash the potential of private enterprises, displeasing a bunch of policymakers and influential economists who initially empowered the bureaucracy by drumming the omnipotence of public enterprises in an indiscriminate manner across the board.

The post-independence planners were so influential in convincing Bangabandhu that Bangladesh will turn into a paragon of progress by simply following a full-scale model of massive nationalisation. A bureaucracy-led business plan did not work in other parts of the world, nor did it function in Bangladesh. The theoretical utopia soon nosedived just after its launching, sending growth prospects down and making Bangladesh a developmental guinea pig. Over the 1970s, Bangladesh's average GDP growth was 1.5 percent mainly because of three reasons: 1) war 2) massive nationalisation and losing spree in all public enterprises and 3) policy switch toward denationalisation.

Steering Bangladesh's policy in a diametrically opposite direction had truly been challenging. The liberalisation policy graduated in three steps in the mid 1980s, early 1990s and mid-1990s, marking a wonderful consensus of the pro-market move by all three major political parties - a much needed consensus rarely seen in a newly independent developing nation. That made Bangladesh different from its competitors. The difference also came through the indomitable character of its people. Given the lowest investment in research, Bangladeshis can make the highest amount of innovations as seen in agriculture and services. Despite the high level of corruption, particularly evident in public utilities, Bangladeshis made widespread progress in businesses and services by upholding their considerable dedication. This makes us different.

Bangladesh is a land of continuous positive surprises. At a time when we were focusing on jute, no one probably saw the garments industry emerging, pushing the golden fibre in the page of history, as it occupies an 80 percent share in exports. No one saw the mobile phone industry entering Bangladeshi market vigorously to bring a renaissance in our private and business lives, acting as an integral device for a digital Bangladesh. Who would have thought that cell phones would revolutionise financial transactions to synchronise the heartbeat of the economy with external civilisations and to spur inclusive growth. No one ever thought that Bangladesh, gaining independence a quarter of a century after India and Pakistan, will exceed its privileged neighbours in life expectancy, which is 71 years in Bangladesh – at least five years higher than India's or Pakistan's. These positive surprises make Bangladesh different.

The country is different in projecting 7 percent growth for the FY2016 even with the lowest fiscal capacity, sending a message that a rapid rise in the tax-GDP ratio is warranted to accelerate the growth engine. Both India and Pakistan accumulated huge debts from foreign and domestic sources, while Bangladesh did not. The debt burden rose as high as two-third of their respective GDP when the number is only one-third for Bangladesh. Thus Bangladesh's respectable growth - much higher than Pakistan's and slightly lower than India's - is free from debt anxiety. This also sets us apart.

Bangladesh's economic openness of almost 40 percent, as measured by the trade-GDP ratio, is gradually rising without triggering excessive volatility. Our inflation and growth volatility, which is the lowest in the region in the last 20 years, marks another specialty for Bangladesh. The per capita income has shown a rising trend since 2009, and it is higher than the trend that began in 2002. When I shared this information with the lady originally from Quetta of Pakistan, she did not seem amused. I also shared that the country is one of the strongest growth generators in the world and surveys indicate that almost 70 percent people of the country claim to be happy. This is another point of our difference.

We Bangalis know how to rise from the ashes, we know how to adapt to changes, and we know how to be resilient to bring back the note of vibrancy in the realm of investment and economic growth. This is what makes us different.


Why is the Bangladesh economy different? | The Daily Star

Bangladesh' future growth and prosperity does not have to be at the expense, discontent and unhappiness of people in other countries. They are welcome to share and participate from the lessons...and emulate them at home.

There is no need for jealousy either. Aaj or kal - acchey din zaroor ayega....
 
Nolte products hit Bangladesh market

Nolte, a Germany-based kitchen, bedroom and living room solution brand, has started its journey in Bangladesh.

Its first showroom in the country was inaugurated at Jamuna Future Park on Saturday.

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HATIL, a local furniture manufacturer and retailer, has teamed up with Nolte to market the German brand products in Bangladesh market.

Officials of the two companies said the showroom on an 8,200 square feet floor-space would display the latest trends in kitchen, bedroom and living room solutions made in Germany.

Commerce Minister Tofail Ahmed, German Ambassador in Bangladesh Thomas Prinz, Hatil Chairman and Managing Director Selim H Rahman and Nolte FZE Managing Director Selva Kumar, among others, were present at the opening ceremony.

10_Tofail+Ahmed_furniture_13022016_0004.jpg
 
And for God's sake when will they get rid of the local 150 cc cap... it's holding back a lot of good bikes to be sold locally...namely the upper end gixxers....:disagree:
They has good reason to do that.They just don't need to spend hard earned forex on unnecessary things. 150 cc is good enough for general uses.And also keep in mind how reckless those bikers are.

But my opinion is,they should give the companies permission to produce high end bikes for export market and and keep the cc cap on imported ones for now.That way domestic companies will be ready to capture the market even if the cap gets removed.
 
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Bangladesh forex reserves hit a new high, top $28 billion

According to the central bank, the reserves rose to $28.06 billion at the closing of the Thursday transactions from $27.9 billion on Wednesday.

Bangladesh Bank General Manager Kazi Sayedur Rahman attributed the rise to the decline in oil and food prices in the international market and the growth in remittance and export earnings.

He said the reserves might be hovering above the $28 billion mark until payment of Asian Clearing Union (ACU) bills in the first week of March.

Forex reserves crossed the $27 billion mark for the first time on Oct 29 last year.

Officials said the current reserves were enough to foot the country’s import bills of at least seven months.

 
Padma Multipurpose Bridge Project is one of the most widely expected & cherished construction project of Bangladesh. It has the ability to change the total road network of Bangladesh. Consequently it can accelerate the economic growth of the country by connecting either part of the mighty Padma Rik ver.

Abdul Monem Limited, one of the leading construction company of Bangladesh, is proudly contributing in this epoch-making event by constructing the approach road & service areas on both side of the Padma River.

padma_bridge_1_0.jpg


Here's a recent video of the construction work for Abdul Monem Ltd.
 
Firnas Airways to open Dhaka-LHR direct flights
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Proton to begin CKD operations in Bangladesh in June
Proton-LHD-Preve-to-Chile-3-630x336.jpg

Following the flag-off ceremony of Proton’s first batch of left-hand drive Preves destined for the Chilean market, the national car-maker has revealed that it will begin local assembly (CKD) operations in Bangladesh this year in June.

Like the Chilean market, the Preve will be the first model to be introduced there, albeit in right-hand drive format. For now, Proton is exporting completely built-up (CBU) units of the sedan to Bangladesh in the mean time, before full CKD operations begin there.

Last year, Proton signed an agreement with Bangladesh conglomerate PHP Group to build 1,200 Preves annually, with production originally scheduled for December 16, 2015.

It was reported that the Bangladesh-made Preve will be badged as the Proton PHP, with the 1.6 litre Campro Turbo engine in both manual and CVT forms planned. At that time, it was announced that the CKD plant would be built on 30 acres of land in Anwara Upazila, Chittagong at a cost of Tk 400 crore (RM213 million).

This year, Proton is aiming to increase its export volume from 5,000 units in 2015, to 7,000 units. With the restart of exports to Chile, and the transition from CBU to CKD cars in Bangladesh, this will help in the national carmaker’s plans to maximise its production volume.

Link: Proton to begin CKD operations in Bangladesh in June

Note: PHP Group is one of the largest integrated steel mills in Bangladesh and they produce cold-rolled steel sheet which is used in making outer panels and monocoque structures for cars.
 
Firnas Airways to open Dhaka-LHR direct flights
maxresdefault.jpg


Proton to begin CKD operations in Bangladesh in June
Proton-LHD-Preve-to-Chile-3-630x336.jpg

Following the flag-off ceremony of Proton’s first batch of left-hand drive Preves destined for the Chilean market, the national car-maker has revealed that it will begin local assembly (CKD) operations in Bangladesh this year in June.

Like the Chilean market, the Preve will be the first model to be introduced there, albeit in right-hand drive format. For now, Proton is exporting completely built-up (CBU) units of the sedan to Bangladesh in the mean time, before full CKD operations begin there.

Last year, Proton signed an agreement with Bangladesh conglomerate PHP Group to build 1,200 Preves annually, with production originally scheduled for December 16, 2015.

It was reported that the Bangladesh-made Preve will be badged as the Proton PHP, with the 1.6 litre Campro Turbo engine in both manual and CVT forms planned. At that time, it was announced that the CKD plant would be built on 30 acres of land in Anwara Upazila, Chittagong at a cost of Tk 400 crore (RM213 million).

This year, Proton is aiming to increase its export volume from 5,000 units in 2015, to 7,000 units. With the restart of exports to Chile, and the transition from CBU to CKD cars in Bangladesh, this will help in the national carmaker’s plans to maximise its production volume.

Link: Proton to begin CKD operations in Bangladesh in June

Note: PHP Group is one of the largest integrated steel mills in Bangladesh and they produce cold-rolled steel sheet which is used in making outer panels and monocoque structures for cars.
billal bhai can you please give us the link for firnas airways news mentiones in the cap? Thank you
 

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