Business
Apparel makers urged not to take export orders without justified rate
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged its members to remain more cautious while negotiating over export orders to avert taking orders going below a justified rate.
At the same time, the apex body of the apparel exporters, called upon the international buyers to give fair prices of the products considering the increased costs of cotton, freight and other relevant costs.
“We should no way negotiate any export order at a price that might go below the production cost,” BGMEA President Faruque Hassan told reporters at a press conference held in a city hotel on Saturday.
Read: Reduce fuel prices to facilitate economic recovery: BGMEA
Frozen Food Companies in Bangladesh: An Overview
The frozen food industry is one of the most thriving industries in Bangladesh and has become an integral part of the country's economy. The frozen food industry in Bangladesh is expected to be worth over $420.48 million by 2024 and has been experiencing a 6.2% significant growth rate. Currently, the local brands are in the driving seat. This blog post lists some of the best companies that are leading this industry. The list includes brands like Kazi Farms Group, Golden Harvest Agro Industries Ltd, Pran Rfl Group Ltd, and more.
Top Frozen Food Brands in Bangladesh
Golden Harvest Agro Industries Ltd
Golden Harvest Agro Industries Ltd., which is one of the pioneers in frozen food manufacturing, has built its reputation on providing customers with a wide range of ready-to-cook products. The company's locally well-known brand name brings peace and comfort to people. The brand is getting popular abroad too. Their frozen foods include paratha, chicken nuggets, samosa, french fries, daal puri, Singara, and more. Although the Golden Harvest parent company was established in 2000, the frozen food verticals were started in 2006.
Read Top FMCG Companies in Bangladesh: At a Glance
Jhatpot Brand from Pran RFL group
PRAN is a well-known consumer brand that has around 10 different categories and produces more than 200 agro-based food items and delivers to 110 countries. This company's frozen food has been on the go for a while now. They have already established themselves as one of the top players in this industry and their success just shows how innovative they are with what they do! Their most popular items include Jhatpot paratha, Jhatpot wonton, Jhatpot sausage, Jhatpot onion paratha, Jhatpot spring roll, Jhatpot samosa, and other 30+ items.
Read Furniture Brands and Companies in Bangladesh: An Overview
AG Agro Foods Ltd. (AG)
The AHSAN Group is one of the most influential agro-business in Bangladesh. Although the parent company was established in 1986, they founded AG Agro Foods Limited in 2015 which operates diversified sectors like dairy production and fishing industry with their own brands. Since its inception, they have been marketing halal processed whole chicken. Gradually the company has expanded to its frozen food category. AG Agro produces all of the products in their facility with strict quality control through European automated machines, making sure it adheres to international standards. Now they produce high-quality frozen items such as meatballs, nuggets, burger patties, sausages, marinated chicken parts, and more.
Read Baby Food Brands in Bangladesh: An Overview
Kazi Farms Group
Kazi Farms Limited is one of the leading companies in Bangladesh in agro-based business. Kazi Food Industry, a company that produces chicken (boiler, layer) chicks, eggs, meat, and food, produces food for people, poultry, and cattle also has a private entertainment satellite television channel Dipto TV. Kazi Zahedul Hasan founded the Kazi Farms Group and the company started its journey in 1996 through importing hatchery eggs. However, they entered the frozen food industry in the last decade. Now they have a wide range of frozen products including paratha, sausages, singara, samosa, meatball, dal puri, and more.
Read Best Sports Apparel Brands For You
Bengal Meat
Bengal Meat has a wide range of product frozen food categories from raw meat to read to cook snacks. Starting in 2007 they offer a variety of family-friendly frozen snacks to suit your needs. Whether you are looking for something quick and easy, or want the most exotic flavors around; they have got it all! We also provide great deals on the products. Bengal Meat produces beef burgers, Kolija singara, chicken drumstick, chicken nuggets, meatballs, etc.
Read Renowned Ice cream brands, companies in Bangladesh
Frozen Foods Ltd from Aftab Group
Frozen Food Ltd is literally part of AFTAB GROUP, an enterprise that started its journey back in 1961. This company made history by processing and packaging frozen shrimp, seafood products, and freshwater fish. They process the foods through modern machinery & scientific methods with trained professionals ensuring quality output checks on every product marketed under FFL's name globally. They supply foods both at home and abroad. They export to Canada, China, the USA, EU, Saudi Arabia, Taiwan, and UAE.
Read Top Bottled Drinking Water Brands, Companies in Bangladesh
Paragon Food Products
Paragon's Paradigm Shift is a revolutionary change in the poultry industry. They have created an integrated solution for securing your daily consumption by providing high-end feed, breeding grandparents, and processing plants that go all of those steps from Farms-to-Fork to deliver you wholesome meat at every stage. To ensure the safety of all the products, Paragon has a strong technical team and laboratory ready to go around the clock. With an emphasis on antibiotic residue-free birds formulated with scientifically backed ingredients from industry experts for human consumption. They produce frozen chicken mainly and other items such as dal puri, paratha, chicken momo, and more.
Read Best Men's Wear Clothing Brands in Bangladesh
Roja, Sea Natural Food Ltd
Sea Natural Food Ltd. is an initiative from Rangs Group, with Roja wishing to convey the value-added range in the seafood category through their innovative safe food strategy “Ocean To Plate” that allows customers access to sustainable sources for a healthier living while providing affordable prices they can afford. The company works tirelessly on all fronts - from hygiene practices that ensure only top-quality products are delivered assuring total customer satisfaction throughout its supply chain processes. The products include shrimp puri, seafood popcorn, fish burger, fish nuggets, shrimp nuggets, and more.
Read Top Biscuit and Bakery Companies, Brands in Bangladesh
BD Sea Food
BD Seafood Limited, a subsidiary of the BD Group has been specializing in providing high-quality seafood from Bangladesh for years now. Started in 2007 they are mainly an export-oriented company, but they also supply seafood items in the local market. They are committed to ensuring that their standards exceed international expectations with state-of-the-art processing plants designed and engineered by European experts. The experts personally oversee every detail along this unique process all while maintaining global excellence through quality assurance programs that have become industry standard over time.
Read Best Tea Brands in Bangladesh
Apex Foods Limited (AFL)
Apex Foods Limited is a 100% export-oriented value-added shrimp processing company. It has invested heavily in the latest technology to create high-quality products, which are well known across Asia and internationally for their consistency of taste. AFL was incorporated on 21 March 1979 under The Companies Act 1913.
Bottomline
With so many choices in the frozen food aisle, it can be difficult to find a brand that is both affordable and tasty. But, the list we have compiled here are the top frozen food companies in Bangladesh. We hope these brands help you stay healthy with their delicious snacks and meals.
Read Air Conditioner Brands, Buyer Guide, Models, with Price in Bangladesh
New e-commerce platform Durbar to be launched soon
Durbar, a new e-commerce platform, is going to be launched soon, with products from all over the world and a cash-on-delivery delivery method.
Consumers can buy products from categories such as clothing, boutiques, home-appliance, IT, lifestyle, electronics, and smartphones more by using the website and mobile app of Durbar.
Also, sellers can sell their products directly by creating profiles or accounts.
"This e-commerce site will provide services to the consumers within a short time in the best possible way. But it is also true that gaining the trust of the consumers has become a little bit tough these days," Apel Akbar, the public relations officer of Durbar, said in a statement.
NRBC Bank launches 14 service outlets partnership with SKS
NRBC Bank Limited launched its microfinance-based Partnership Banking services with SKS Foundation to provide banking services to the marginalized people in 14 locations.
S M Parvez Tamal, Chairman of the Bank, inaugurated 14 sub-branches as Chief Guest through a video conferencing.
Read NRBC Bank, OXFAM, Bangladesh sign deal to enhance microcredit
Rasel Ahmed Liton, Executive Director of SKS Foundation, Kazi Md. Talha Additional Managing Director, Harunur Rashid, DMD and CFO, Kabir Ahmed, DMD, Major (Retd) Pervez Hossain, head of support services, Romjam Ali Bhuyan, Micro Finance Department of the Bank joined the ceremony virtually.
14 Partnership Banking Sub-branches are Sabujpara, Andharijhar and Rajarhat (Kurigram),Kaunia (Rangpur), Thana Road and Harindhara (Savar, Dhaka), Mirpur-6 (Dhaka), Islampur and Rasulganj (Lalmonirhat), Tarpan Ghat (Dinajpur), Nekmarad and Ruhiya (Thakurgaon), Chakdhapara and Baburhat (Nilphamari)
Read: NBR to award 9 companies for paying highest VAT
How can social entrepreneurship contribute to society?
The idea of social entrepreneurship has been around for decades. However, it has emerged as a powerful tool for change in the past decade. Many social entrepreneurs give their time to make the world better for future generations, but how can they contribute to society? This article will explore some ways of social entrepreneurship that can promote positive change for society and highlight some leading examples of successful enterprises.
What is Social Entrepreneurship?
Social entrepreneurship is the application of business tools and entrepreneurial skills to achieve social change. Where traditional entrepreneurs want to sell a product, create employment or make profits, social entrepreneurs also pursue some form of social benefit in addition to financial return. However, social entrepreneurship can also be not for profit.
Further, it is an innovative way to balance work and life and has been identified as a driver for sustainable development. Social entrepreneurs are individuals or teams that have come together with the common goal of not only generating profit but also creating positive impacts for people within their community. Moreover, it focuses on the double bottom line for both businesses' profits and improvements in society, communities, markets, health care, education systems, civic life, etc. Ultimately, social entrepreneurs innovate across different types of organizations through systems that change the lens in order to improve the way society functions.
Read Sohopathi: An Emerging Online Education Platform in Bangladesh
Although Bill Drayton is considered one of the pioneers of social entrepreneurship, it was originally advocated by Nobel Prize winner Muhammad Yunus.
How can social entrepreneurship create impacts on society?
Social entrepreneurship is running a business with the main aim to solve certain social problems. Hence, it can positively impact society in various ways, such as an increase in employment rate, better distribution of wealth and income, reducing poverty, hunger, disease, etc.
Millions of people can get employed through social business, and this includes health care services, educational institutions, arts & crafts marketplaces, and so on. The increase in employment increases economic growth, which ultimately improves the standard of living to a greater extent.
Read Brand Ambassadors: Who Are They and What Do They Do?
Further, social entrepreneurship makes sure that it helps people from all economic classes like poor, middle class, and rich. This nature of social entrepreneurship ensures not only equality but also spreads benefits among the different groups in the society. The businesses run by social entrepreneurs do not make large profits as they are there to fulfill certain necessities and offer services at very low costs, if not for free.
Eventually, social entrepreneurship encourages innovation which results in minimizing poverty as well as diseases such as those caused by unclean drinking water, lack of sanitation facilities, and other factors. Social entrepreneurs try to attain this aim through research and development in order to provide quality food, clothes, and shelter for all.
Despite having all those benefits, social business has some drawbacks too. It doesn't fix the structural issues of society. Moreover, this kind of business aims to reform society instead of transforming it. Most of the time, media, investors, and influencers appreciate for-profit social entrepreneurship.
Read Cosmetics and Toiletries Brands, and Companies in Bangladesh: An Overview
Some bright examples of social entrepreneurship ventures
With an ever-growing concern for social and environmental responsibility, it's no wonder that we are seeing such a rise in the number of entrepreneurs who are setting up companies to make a difference. Rather than solely focusing on making money, these social entrepreneurs are adamant about spreading awareness and doing their part to be good stewards of the environment.
Following are some of the bright examples of social businesses that aim to change society.
Toms
TOMS Shoes was founded by Blake Mycoskie, who witnessed first-hand the struggles of children without shoes while he was on a trip to Argentina. He started his company with the intention that for every pair sold, they would donate one shoe, and fund other initiatives such as eyewear or water programs in developing countries where poverty is rampant but resources are few.
Read Furniture Brands and Companies in Bangladesh: An Overview
To date, the company donated more than 60 million pairs of shoes helped to restore eyesight to more than 400,000 people. Furthermore, they also provided more than 355,000 weeks of safe water.
Grameen Bank
Another organization that has become a synonym of social business is Grameen Bank, founded by Muhammad Yunus. The Grameen Bank has been working as a poverty-fighting bank. Dr. Yunus founded it in 1983 with a simple mission: to provide small loans for those living below the poverty line so that they could become self-sufficient members of society.
It has a mission statement of providing financial services for those who need it most at little cost or risk involved. This institution has come into being as one with no requirements other than honesty from borrowers. It simply makes small loans without ever having asked for security beforehand! However, the plan may seem unrealistic, but Grameen Bank has been successful. 90% of the borrowers are female who are working to become self-sufficient.
Read Baby Food Brands in Bangladesh: An Overview
Charity: water
Scott Harrison is the founder of the nonprofit organization Charity: Water, which he founded after returning from Liberia with an experience that had humbled him. He wanted to dedicate his life not only towards working in humanitarian aid but also to bringing clean water access for everyone worldwide!
The organization, charity: water, has funded around 25,000 projects and is currently operating in 24 countries. Together, the projects provide fresh water to more than 7 million people while also using all profits for future or current project development.
Seventh Generation Inc.
Jeffrey Hollender, the founder of Seventh Generation, is an example of how a socially responsible company can grow.
The company produces eco-friendly household cleaning products that are free of harsh chemicals. He started this company with one goal: to provide people with environmentally friendly household cleaners without harming their health or Earth's natural resources. Not only did they develop new formulas made entirely out of eco-friendly sources, but they also decided to donate 10% profits from sales back into society!
Read Best Banks for Student Credit Card in Bangladesh
Conclusion
Social entrepreneurship has helped an incredible number of people in different parts of the world. If more such social entrepreneurs take initiatives, it will certainly lead humanity towards a better place.
RFL Tubewell turns 40
RFL Tubewell, the first product of business conglomerate Pran-RFL Group, has completed 40 years of operation.
"RFL Tubewell started its journey in 1980 when people were suffering from various water-borne diseases due to lack of pure drinking water. We are proud to be able to provide safe drinking water to nearly 30 million families," RFL Group Managing Director RN Paul said at a function in the capital Tuesday.
Read: RFL launches awareness campaign on water wastage
He added, "On the occasion of RFL Tubewell's 40th anniversary, pure water will be provided to 40 villages through tube wells in remote and char areas of Bangladesh."
Abdul Kuddus Miah, business In-charge of RFL Tubewell, said: "RFL Tubewell has become one of the leading brands in the country due to its wide presence, affordable prices and excellent quality."
"It has been the source of drinking water for people all over the country for 40 years."
NBR to award 9 companies for paying highest VAT
The National Board of Revenue (NBR) will honour 9 firms on the National VAT Day for paying highest amount of Value Added Tax (VAT). The VAT department of the National Board of Revenue (NBR) on Wednesday released a list of awardees. Earlier the Economic Relations Division (ERD) published a gazette notification in this regard.
Read:NBR to organize month-long tax support service from Nov 1 December 10 is celebrated as the National VAT Day every year. The NBR will honour the highest tax payers of the fiscal year 2019-20 on this day. Nine firms under three categories- production, business and service- will receive the awards at a ceremony in Dhaka. The list of awardees includes Aristopharma Limited, Square Toiletries Limited and Maya Bidi Factory under the production category, SM Motors, AMCO Bajaj International and Union Motors Limited under business category and IDTCO Bangladesh Co. Ltd. Gray Advertising Ltd. and Robert Boss (Bangladesh) Ltd under service category. The VAT department of the National Board of Revenue has been regularly honoring the top VAT payers for several years.
Read: NBR directs big push to reach the revenue target for current fiscal Business establishments which have Electronic Business Identification Number (EBIN), issue regular VAT receipts to the consumers and regularly deposit the collected VAT money in the government treasury are considered eligible for the award. NBR will also honour 102 companies in the three categories as the top VAT payers at the district level.
Vietnam seeks improved port facilities in Bangladesh to boost trade: Envoy
Vietnam believes bilateral trade between the two countries will boost manifold if Bangladesh improves the logistics at its seaports in efficient handling of imports and exports, the country’s ambassador has said.
Ambassador Pham Viet Chien made the remarks during a meeting at Dhaka Chamber of Commerce & Industries (DCCI) on Wednesday.
He led a seven-member business delegation of Vietnam at the meeting with DCCI officials, led by its president Rizwan Rahman.
Read:Middlemen, the biggest obstacle in Bangladesh's food chain?
DCCI President said Vietnam is the 18th largest import partner and 44th largest export market of Bangladesh.
He said in the fiscal year (FY) 2020-21, bilateral trade between Bangladesh and Vietnam reached US$ 739.89 million _ export worth US$61.29 million and import at US$678.6 million.
Rizwan also said that Bangladesh needs technical expertise from Vietnam to improve its industrial capacity and productivity.
He underscored the importance of direct flight between Dhaka and Hanoi to enhance trade relation.
DCCI president sought Vietnam’s support to Bangladesh to become a member of the Regional Comprehensive Economic Partnership (RCEP).
He also shared the experience of Vietnam in FDI promotion and export diversification.
The ambassador said Vietnam wants Bangladesh to export more to his country to reduce the trade gap.
He said several Vietnamese companies are still in operation in Bangladesh and they are doing well.
Read: DCCI, IBA sign deal for business-oriented research and innovation
He also requested the business community of Bangladesh to send trade delegations to Vietnam for more interactions.
Members of the visiting Vietnamese delegation also took part in the discussion.
They expressed interest in importing jute, jute goods and pharmaceutical products from Bangladesh.
During the meeting N K A Mobin, Senior Vice President, Monowar Hossain, Vice President along with the Board of Directors of DCCI, were also present.
Middlemen, the biggest obstacle in Bangladesh's food chain?
Agriculture is the economic backbone of Bangladesh. But farmers say that numerous revolutionary reforms introduced in the sector over the past two decades have failed to bring any major change in their economic condition.
The reason: The profiteering middlemen who buy fruits and vegetables at extremely low rates directly from farms, but jack up prices in further sales -- from distribution to retailing through commission agents and wholesalers.
Read: UK announces £18m new funding to end child marriage in Bangladesh, 11 other countries
And as this nexus takes a substantial chunk of profit from their produce, farmers are left with very little revenue in the agricultural market hierarchy in the country. Of course, consumers are also a casualty as they pay a higher value for the cheaper farm produce.
Market analysts also blame the nexus of multi-layered middlemen involved in the distribution process for the huge gap in the prices of agricultural produce at farm and retail levels. Another reason being the high transportation cost to cities like Dhaka.
In fact, vegetable prices are 100-300% higher in the kitchen markets of the capital than that at the farm level, according to the Department of Agricultural Marketing (DAM).
This has already been admitted by the Bangladesh government. Agriculture Minister Dr Abdur Razzak had earlier said that "many people cannot afford sufficient vegetable intake due to high prices while the farmers are also not getting fair prices of their produce".
Read: Remotest region to connect with broadband internet by 2025: Palak
Farmers often throw away their vegetables when they find that the cost of production is higher than that of sales, according to the government.
"We have to create a modern marketing system to eliminate this problem," he had said, adding "value-addition and market chain development are needed for this".
DCCI, IBA sign deal for business-oriented research and innovation
The Dhaka Chamber of Commerce & Industry (DCCI) and Institute of Business Administration (IBA), University of Dhaka will work together for business-oriented research and innovation.
A Memorandum of Cooperation (MoC) was signed between DCCI and IBA in this regard on Tuesday. DCCI President Rizwan Rahman and Director of IBA Prof Mohammad Abdul Momen signed the deed document on behalf of their respective sides.
Rizwan said that as per the agreement, mutually agreed training courses will be arranged for DCCI. Both DCCI and IBA will conduct sector wise business research activities, job fair, seminars, workshop, and business conference. DCCI will provide internship opportunities for the students of IBA.
Also read: Challenges of 4IR: DCCI, BUET ink MoC
He said skill development is the priority area for the government as well as for the private sector because in order to compete with the global standard, we must have better skills in every sector.
He called for extensive research and development works under the universities so that they can contribute to the development nation’s economy.
Director of IBA, Prof. Momen said that there should have a greater collaboration between industry and academia.
“To cope up with the changing global geo-political and technological transformation we have to be competitive in terms of skills and education,” he added.
Also read: DCCI plans investment summit in Singapore this year
He cited a few examples of some successful countries like USA, Germany, and Korea who are utilizing their universities for extensive wide ranging research and innovation activities.
The research facilities of our universities in Bangladesh are still unexplored and under-utilized. He invited the private sector to invest for expansion of university research in the country for the sake of industry development, Prof Momen said.