Business
Three-day Bhutan trade fair ends on Sunday
The three-day Bhutan Trade and Investment Fair is ending on Sunday.
The Bhutan Embassy in Dhaka organised the fair as the first in Bangladesh, which was inaugurated by Commerce Minister Tipu Munshi at Gulshan Shooting Club in the capital on Friday.
Read: Chinese company to invest US$ 76.41 million at BEPZA Economic Zone
The event was attended by Bhutanese Heads of Missions, Business Chairpersons, Executives of top business organizations and other officials.
Around 25 companies from Bhutan have participated in this fair. Even at the fair they showcased premium quality products made in Bhutan and produced in Bhutan.
Read: Deal signed to import 1.80 lakh tonnes of fertiliser from Russia
Tipu Munshi said that India, Japan, South Korea have already come forward to invest in Bangladesh’s economic zones. There is also a chance for Bhutan to come.
“I will request Bhutan, come to Bangladesh, invest in economic zones,” the minister said.
Commerce Minister Tipu urges businesses to utilize advantages of PTA
Minister for Commerce Tipu Munshi urged businesses of Bangladesh and Bhutan to play a pioneering role in expanding trade and commerce between the countries to utilize the advantages of the Preferential Trade and Transit Agreements signed earlier.
Minister Tipu said this while addressing at the inaugural ceremony of three-day ‘The Bhutan Trade & Investment Fair 2023’ at the Shooting Club in Gulshan-1 in Dhaka on Friday, as the chief guest.
He said Bangladesh inked the Preferential Trade Agreement (PTA) with its counterpart Bhutan to promote and expand bilateral trade on December 6 in 2020 and the ‘Traffic-In-Transit Agreement’ on March 22 this year.
The businesspeople from the both countries can enrich their mutual relations along with expanding trade and commerce by utilizing the advantages of the agreements, he said.
He underscored the need for a regional consolidation to accelerate economic activities including expansion of trade, commerce and investment.
Read:Tipu Munshi hopes PTA with Indonesia to be signed 'soon'
The commerce minister said that mutual confidence and belief will have to be built to increase regional consolidation, connectivity and intra-regional trade among the neighbouring countries.
Urging Bhutanese investors for more investment in Bangladesh, Tipu Munshi said an opportunity was given to Bhutan to set up an economic zone in Kurigram along their border.
Moreover, India, Japan and South Korea have already given economic zones for investment, he said, adding that Prime Minister Sheikh Hasina established 100 economic zones and most of them have been operated.
Claiming Bangladesh as the connectivity hub for this region, the minister said rail communication and transit facility along with the use of Saidpur International Airport and two ports can remarkably play a role in economic growth and development of Bhutan.
Heads of resident missions or embassies, chairpersons of businesses, executives of apex business bodies and other important personalities were present during the inaugural ceremony.
Sonam Tenzin, director general at trade department of the Bhutan government, delivered a statement on trade and investment and Kinlay Tshering, director at marketing and cooperatives department of the country, made a brief presentation on priority investment opportunities in agri-food systems in Bhutan.
Read: Bangladesh should go for PTA with Mercosur instead of FTA: Argentine minister
Around 25 companies from Bhutan are participating in the fair being held with the theme “Bridging the Gap Between Investors, Producers, Traders and Consumers for Made in Bhutan & Grown in Bhutan.”
There will be showcasing a wide range of products which are of premium quality due to Bhutan’s organic and natural methods of production.
On the sidelines of the fair, seminars on investment opportunities in Bhutan and agri-food systems in particular will be held from 23 - 25 June 2023 at the fair venue.
Read more: Bangladesh seeks direct shipping connectivity, PTA with Sri Lanka
Bangladeshi overseas workers earn lower because of lack of skills: Speakers
Bangladeshi overseas workers are receiving lower payment on an average of USD $2000 annually due to unskilled and language barriers.
This information was revealed in a keynote presentation on Thursday at a technical dialogue on ‘National Employment Policy and Labour Market Employment Challenges in Bangladesh’ by Dr MA Razzaque, Chairman of RAPID.
The presentation showed that 1.83 million Filipinos overseas workers generated $36.9 billion while 2.1 million Nepalese overseas workers earned $8.2 billion, while more than 10 million Bangladeshi overseas workers earned $22.1 billion in 2022.
Read: Chinese company to invest US$ 76.41 million at BEPZA Economic Zone
Despite impressive progress in social indicators, the skilled manpower generation programme did not progress as per desire, Razzaque pointed out in the paper.
Though industrial growth did not get pace in between 2017 and 2022, the employment decreased by 3.5 lakh due to increase in the use of the AI-supported smart machines in the production line, he highlighted.
Read: Deal signed to import 1.80 lakh tonnes of fertiliser from Russia
Around 45 lakh youths between 15 to 24 years are passing idle time despite having potential for work. Because of lack of technical education and jobs-oriented training they cannot be involved in productive job markets.
According to the LFS 2022 report, the working age population has surpassed 120 million or 71.2 percent of total population, and this situation will continue till 2041. This advantage if utilised in industrial and service sectors, the economy will jump a record level, Razzaque pointed out in the presentation.
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State minister for labour and employment Begum Mannujan Sufian was present in the programme as the chief guest while Ehsan-e-eElahi, secretary of the ministry, chaired the programme.
The programme was jointly organised by the Ministry of Labour and Employment and the International Labour Organisation (ILO) at the Hotel International in the capital on Thursday.
Dr Md Kawser Ahmed, Member of General Economic Division (GED), Dr Shahnaz Arefin, secretary, ministry of statistics, Sharifa Khan, secretary of Economic Relations Division (ERD), Dr Sher Verick, acting branch chief, employment, labour market and youth, ILO headquarters, among others, spoke in the function.
US-Bangla secures 5th position in ‘Skytrax World Airline Awards 2023’
The US-Bangla Airlines has secured the 5th position among South Asian airlines in the Skytrax World Airline Awards 2023.
Starting its journey on July 17, 2014, the US-Bangla continues to set unique precedents in the aviation industry of Bangladesh. It has achieved so far various milestones of success, according to a media release.
The Skytrax World Airline Star Rating was launched in 1999, and is the prestigious, longest-established and unique mark of quality achievement and a global benchmark of airline excellence, awarded after professional audit analysis and evaluation of airline product and front-line service standards.
Read: US-Bangla Airlines launches initiative to train aircraft maintenance engineers
Airline star ratings are awarded by the Audit Office after a detailed, professional analysis of an airline's quality standards.
A typical rating of values ranges from 500 to 800 based on an analysis of product and service evaluation items. It takes into account the airline's airport services and onboard standards based on all applicable cabins or aircraft.
Skytrax has been awarding airline service and quality worldwide since 1999. No airline has to apply for the Skytrax World Airline Awards, there is no fee, and winning airlines do not have to pay anything to attend the award event.
Read: US-Bangla Airlines sending 11 more pilots to USA on training
The Skytrax World Airline Awards are called the 'Oscars of aviation industry' in various categories.
This achievement of US-Bangla Airlines will help Bangladesh in global aviation further.
The US-Bangla Airlines expressed their gratitude to passengers, media, all members of the organization and above all the well-wishers for this achievement.
Read more: US-Bangla Airlines wins Best Domestic Airlines award
Vivo brings ‘lakh taka man’ Eid offer
Smartphone company Vivo has launched a “lakh taka man” campaign raffle draw ahead of Eid-ul-Azha.This Eid, customers can win Tk 1 lakh cash back with the purchase of any vivo smartphone, according to a press release.
Also read: Vivo phones in BangladeshThe campaign started on June 20 and will end on June 29, it said.
Also read: Vivo Y01 Review: Is it a worthy entry level budget phone?The first prize of the raffle draw includes cashback of Tk 1 lakh, while the second prize features a Vivo Y36 smartphone. As the third prize, customers can win a bag. Additionally, the fourth prize includes a mug from vivo, and the fifth prize offers a data offer, said the release.
Also read: Does midrange Vivo iQOO Neo 7 worth its value: ReviewTo participate in the Raffle Draw, visit any authorized Vivo showroom and purchase any Vivo smartphone.
Siam Ahmed becomes brand ambassador for Suzuki Motorbikes
Actor Siam Ahmed has been named the regional brand ambassador for Suzuki Motorbikes by its local manufacturer and distributor Rancon Motor Bikes Ltd.
The announcement was made at a ceremony held at RANGS Babylonia in Dhaka on Tuesday night, according to a press release.
Also read: Motorbike Buyer Guide: Some popular models with price in Bangladesh in 2021
Siam expressed his delight at joining the global Suzuki team, stating, "In addition to acting, motorcycles have always been my passion since my teenage years. I used to dream of owning a Suzuki bike and pursuing my passion for riding. Today, I am proud to be a part of this exceptional brand. Suzuki is an inspiring brand that connects with youth and enhances people's lifestyles."
The event was attended by key figures including Shoeb Ahmed, divisional director of Suzuki Motorbike, Chief Operating Officer AKM Tauhidur Rahman, and Mohammad Shams Uddin, head of marketing for Suzuki Motorbike, among others, said the release.
Also read: Suzuki shoots 67 to win Japan Classic by 3 strokes
Expressing his excitement, COO AKM Tauhidur Rahman stated, "We are thrilled to announce that popular actor Siam Ahmed has become our brand ambassador, setting a new milestone. We believe that this partnership will receive an excellent response from the young generation and play a pivotal role in the country's economy."
Also read: 15 Best Motorbikes Under 2 lac taka for daily use, office commute
Shoeb Ahmed highlighted their dedication to providing quality service, approved spare parts, and the best possible customer experience.
BGMEA training on fashion products using local heritage materials ends
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) hosted a grand closing ceremony of a project titled” Creating High-End Fashion Product Using Local Heritage Material” which began two years ago with an aim to develop high-end western apparel items by utilising centuries-old local heritage materials of the country.
The BGMEA implemented this programme with the support of the Ministry of Commerce and the World Trade Organisation (WTO).
Faruque Hassan, BGMEA president, Dr. Mohammad Ileas Mia, deputy secretary of WTO Cell at the Ministry of Commerce; Dr. Engr. Ayub Nabi Khan, pro-vice chancellor of BGMEA University of Fashion and Technology (BUFT) and Neela Hosna Ara, director of BGMEA, among others, were present during the closing event.
President Faruque Hassan said, “The heritage textile materials we have in our country are priceless. Having centuries-old pride, the BGMEA being the promoter of the apparel industry in Bangladesh, felt the urge to double down on heritage resurrection – through our indigenous textile materials and unique craftsmanship. We aspire to redefine luxury fashion by blending invaluable heritage.”
“If we can develop high-value fashionable garments using our locally produced heritage fabrics and link them to the export market, it will create opportunities for our sector with respect to diversification,” he said.
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Dr. Mohammad Ileas Mia, deputy secretary of the Ministry of Commerce said that under the WTO-supported programme they worked with food processing industry, agriculture, leather and other sectors.
He said that it was initially challenging to implement something like this project in the RMG sector, as the idea was very new and innovative.
“But, to our utter surprise, at the end of the project, RMG has been the best one fulfilling all the components,” he said.
A total of 160 participants from the industry, especially the fashion designers and innovators and local weavers, received training under this project.
During the training, they prepared some mood boards which represent how heritage and culture can be used to design blended luxury items.
Also, nine teams comprising 20 people from fashion designing backgrounds developed some prototypes of the fusion product for example, bridal wear, evening gown, and party dress using local Jamdani, Muslin and silk- all from Bangladesh.
Read: BGMEA President seeks government policy support to achieve RMG industry’s high growth vision
Faruque Hassan informed that the BGMEA has undertaken two other separate projects to promote Khadi, Muslin and local heritage motifs such as waterlily, Royal Bengal Tiger, rickshaw paints and others.
He invited the local designers to collaborate on these projects, in terms of design development and product sourcing.
The BGMEA president launched a new heritage website during the event. The website will present an in-depth feature on the local heritage products, unique design, craftsmanship, weaving techniques, information about weavers and their personal stories.
Read more: BGMEA organizes free eye care program for its employees
Banks to remain open on June 27, 28 in industrial areas
Bank branches will remain open in industrial areas on Tuesday and Wednesday (June 27 & 28) from 10 am to 2 pm, aiming to facilitate the disbursement of wages, bonus and other allowances to garment workers before Eid-ul-Azha.
The Department of Off-site Supervision of the central bank issued a circular in this regard and sent it to the top executives of all the scheduled banks on Wednesday.
Read: Bank branches to remain closed on Tuesday in election areas
The circular said bank branches in Dhaka metropolitans, Ashulia, Tongi, Gazipur, Savar, Bhaluka and Narayanganj will be kept open for full day on Friday and Saturday to disburse garment workers' wages, bonus and other allowances.
It also instructed to keep open bank branches in Chattogram metropolitan and industrial areas.
The central bank asked banks to arrange adequate security in the bank branches in coordination with local administration.
The holy Eid-ul-Azha will be celebrated across the country on June 29.
Read: Islami bank, Sonali bank branches put under lockdown in Naogaon, Bogura
The government has extended the Eid-ul Azha holidays to four days from June 27 to 30.
The decision came at the Cabinet meeting chaired by Prime Minister Sheikh Hasina at her office on Monday.
Read more: Bank branches at Ctg, Mongla, Benapole land ports to operate 15hrs daily
Nagad dangles ‘Ek Takar’ offer on GP mobile recharge
Nagad, a leading mobile financial service in Bangladesh, has come up with an “Ek Takar” offer on a recharge to any Grameenphone numbers through its app or by dialling USSD *167#, to encourage people to more and more digital transactions.
Customers will get a cashback of BDT 199 on the recharge of BDT 200 to GP prepaid, postpaid, and Skitto numbers through Nagad.
The mobile recharges between 5pm and 8pm will be eligible for the cashback offer. Every hour first 100 rechargers will receive this cashback and the amount will be posted to his or her Nagad number in the next working day.
Read: Nagad became a billion-dollar company in just 3 years, 5 more Bangladeshi unicorns by 2025: Palak
The campaign, which was launched on 19 June, will continue till 25th of this month. A customer can participate in this campaign as many times as they like, says a press release on Wednesday.
Besides, a user making the highest number of BDT 200-mobile recharge a day will get a smartphone or a tab from Nagad. The winners will be notified through SMS if selected for this special prize, and the list of winners will be published on the official Facebook page of Nagad Limited.
Sadat Adnan Ahmed, chief marketing officer of Nagad, said, “Nagad wants as many people as possible in the country to get used to digital transactions and use mobile money for daily needs like mobile recharge. That is why we have launched this campaign in partnership with Grameenphone. We want to make customers’ life easier and more comfortable.”
Read: Establishing Digital Bank paramount to build smart Bangladesh: Nagad MD
No one from Nagad Limited will ask customers for PIN number or OTP for this campaign or for any other reasons. Additionally, Nagad representatives will never call customers to make any transactions or recharge their mobile numbers.
Read: Nagad MD proposes cashless transactions to save billions and build a smart Bangladesh
MFS transactions record breached again in April; number of accounts now 26.5 crore
Mobile Financial Services, adopted by Bangladeshis across social strata like ducks to water, continue to grow in volume as more and more financial transactions in the country take place over the platform.The latest statistics on MFS from Bangladesh Bank reveal that Tk1.25 lakh crore was transacted through licensed MFS in April this year. This figure is a record for the volume of monthly transactions, even without the amount transacted over Nagad, which was still offering a similar kind of service in April, but without an MFS license.
Also read: MFS transforming money transactions in Bangladesh, soon to cross Tk. 1 trillion
Adding Nagad’s amount increases the total transacted in April up to Tk1.54 lakh crore. It means on average Tk 5100 crore everyday was being transacted through this digital platform in April. MFS is growing gradually, the BB report states, with typical understatement.
The number of customers is increasing along with transactions in mobile banking. Currently, 13 banks are providing MFS under the names of bkash, Rocket, Ucash, MyCash, SureCash.
Also read: BB re-fixes MFS money transaction limit to ease payment during Eid
At the end of April 2023, the number of customers, or more logically the number of registered accounts with MFS stood at 26.5 crore. This includes the Nagad customer base, after it finally registered as a non-bank financial institution just recently.
Also read: Fintech MFS: Best Mobile Financial Services in Bangladesh
The number of mobile banking agents, meanwhile, has reached 15.55 lakh this time.