Business
CEOs unite to foster inclusive, accessible employment opportunities for persons with disabilities in Bangladesh
To commemorate the International Day for Persons with Disabilities, Bangladesh Business and Disability Network (BBDN) and the CSR Centre, in collaboration with UN-Habitat, organized the CEO Forum titled "Build the Nation through Accessible & Inclusive Employment Opportunities" on December 4, 2023, at the Metropolitan Chamber of Commerce and Industry (MCCI) Office, Police Plaza Concord.
The event aimed to catalyze dialogue among corporate leaders to create an enabling environment for persons with disabilities and drive positive change towards a more inclusive society.
The CEO Forum, a testament to the commitment to the principle of "leave no one behind," focused on making companies welcoming to all through the accessibility of different types of infrastructure within society at large.
Read: Breaking barriers: Nagad empowers, inspires, transforms lives of persons with disabilities
Distinguished attendees included Rupali Chowdhury, Managing Director of Berger Paints; Monsur Ahmed Chowdhury, Trustee of BBDN; Dr. Md. Mafizur Rahman, Managing Director of SME Foundation; Shamarukh Fakhruddin, Director of Urmi Group; Tahsinah Ahmed, Executive Director of Bangladesh Youth Leadership Center (BYLC); Constantinos S. Gavriel, General Manager at Le Meridien Hotels & Resorts - Marriott International; Karin Jongman, Hotel Manager at Le Meridien Dhaka; Samia Chowdhury, Chief Executive Officer of MTB Foundation; Tushar Tripathi, CEO of Envoy Textiles; Sohel Tanvir Khan, Business Director of ACI Logistics Ltd (Shwapno); Akik Ahmed, Manager Green Delta Insurance Limited, according to a media release.
The Forum served as a platform to harness the collective wisdom, expertise and commitment of CEOs and industry leaders towards creating a more inclusive society in Bangladesh. Murteza Khan, CEO of BBDN, welcomed the audience with his remarks and emphasized the objective of the event which was to focus on the relationship between employment and the accessibility of infrastructure. Dr. Priyanka Kochhar presented the keynote on SDGs and the role of the private sector in creating accessible employment opportunities for persons with disabilities, in the context of developing sustainable cities. Shahamin Zaman, CEO of CSR Centre, in her vote of thanks, emphasized that only private and public partnership can achieve the most desirable SDGs.
Read: International Day of Persons with Disabilities on Sunday
In a noteworthy development, the discussants stressed the importance of government support and legislative enforcement in creating more accessible housing, WASH facilities and transportation systems to support persons with disabilities,thereby enabling increased access to meaningful opportunities and greater social participation. In addition, development partners that are funding large infrastructure projects can leverage their influence to compel the government to ensure the projects undertaken include universal design principles that address the accessibility requirements for persons with disabilities — best exemplified by the Dhaka Metro Rail, which has been established as an accessible mode of transportation. In addition, while employers shared their good practices in different sectors related to disability inclusion in the workplace, from a sustainability and scalability perspective, it was emphasized that the infrastructural enablers are necessary to maintain and drive the required changes in the long run.
Read: Empower youth with disabilities to foster inclusiveness: Youth Day speakers
The collaborative efforts of BBDN, CSR Centre and UN-Habitat underscore a commitment to building a more inclusive and equitable future for all citizens of Bangladesh. As these initiatives gain momentum, it is expected that they will serve as a catalyst for positive change, inspiring other sectors and public departments to embrace inclusivity as a core tenet of their development agendas.
November exports down 6 percent year-on-year
Bangladesh’s export earnings in November 2023 decreased by 6.05 percent to USD $4.78 billion compared to the same month of 2022, but increased in comparison to the previous month (October), said the latest statistics of Export Promotion Bureau (EPB) released on Monday.
According to EPB, exports earned $3.76 billion in October 2023.
Also read: RMG exports to EU up 11.47% in July-September of FY 2023-24
The export decrease was driven by a significant drop in shipments of ready-made garments (RMG). The RMG sector fell to $4.05 billion in November, down by 7.45 percent from the same month of last year.
Apparel shipments were particularly weak in the knitwear subsector, which generated $2.31 billion, down by 3.18 percent. Earnings from woven garments also fell by 12.59 percent to $1.73 billion.
However, the overall export earnings in 5 months (July – November) of the current fiscal year 2023-24 marked a slow growth of 1.30 percent to $22.23 billion, compared to $21.94 billion during the same period of fiscal 2022-23.
Also read: Bangladesh’s apparel exports to US saw 21.77% decline in Jan-Aug: OTEXA
Analyzing EPB data found that the export of all sectors except ready-made garments among the major sectors has decreased. These include frozen foods; Leather and leather products; Jute and jute products; Agricultural processed products, home textiles, etc.
FBCCI will support steel industry to increase exports to Commonwealth nations
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will support steel industry entrepreneurs to increase Bangladesh's steel exports to the potential markets of the Commonwealth countries.
US Embassy inaugurates 2nd cohort of 'Academy for Women Entrepreneurs' in Bangladesh
The FBCCI held a meeting with the Commonwealth Enterprise and Investment Council (CWEIC) and the Bangladesh Steel Manufacturers Association (BSMA) on Monday to discuss the prospects of Bangladesh's steel industry in line with recent Commonwealth Annual Summit in London.
FBCCI President Mahbubul Alam was present as the chief guest in the meeting at the office of the apex trade body in Gulshan in the capital.
CWEIC strategic advisor Zillur Hossain and BSMA president Jahangir Alam and secretary general Sumon Chowdhury were present along with representatives from the Bangladesh Investment Development Authority.
In the meeting, FBCCI President Mahbubul Alam said that the development of a country is measured by per capita consumption of steel while per capita steel consumption in Bangladesh is 48 kilograms.
“Most of the Commonwealth countries are developing countries. The pressure on the dollar can be eased somewhat by earning foreign exchange through steel exports needed for their growing development infrastructure. Steel manufacturers only need to take care of quality,” he said.
BMCCI prioritises promotion of Malaysian timber and furniture in Bangladesh
In the discussion. Dr Sumon Chowdhury said that currently the total steel production capacity of Bangladesh is about 15 million tonnes per year and by 2025 it will be 20 million tonnes.
“The infrastructure and construction work in Bangladesh increased rapidly after 1990. And demand for steel also increased gradually. Many large steel industries were established in the country to meet growing demand,” he said.
Unilever Bangladesh wins ‘Bangladesh Sustainability Excellence Award’
Unilever Bangladesh Limited (UBL) has received “Bangladesh Sustainability Excellence Awards” for outstanding contribution in the Environment category.
The accolade, presented by The Daily Star and CSR Window Bangladesh, honoured Unilever and several other corporate organisations and individuals for their impactful projects benefiting society and the environment.
Unilever Bangladesh receives FICCI’s DEI Champion Award
Syed Manzur Elahi, Chairman of Apex Group and the Chief Guest at the event, handed the award to Shamima Akhter, Director of Corporate Affairs, Partnerships and Communications, UBL, Ruhul Quddus, Supply Chain Director of UBL and Sumaiya Tabassum Ahmed, Manager, Sustainability, Partnerships and Communications of UBL, according to a press release.
UBL's plastic circularity initiative has been commended for its impact in creating a circular model for plastic waste and improving the informal value chain by enhancing people’s livelihood and engaging the community, it said.
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As Bangladesh’s largest public-private-development sector run plastic waste collection initiative in partnership with Chattogram City Corporation and Young Power in Social Action (YPSA), the project has facilitated the collection of 10,000 of plastic waste since 2022, improved the livelihoods over 2850 waste workers, and reached over 1 million people with awareness campaigns across all the 41 wards of the city since the inception of the initiative. Through this initiative UBL is collecting 10% of Chattogram City Corporation’s plastic waste, the release said.
Guided by the company’s global sustainably framework—the Unilever Compass—Unilever globally has clear strategy goals under for Climate Transition Action Plan. The action plan set out a clear pathway to take the company to zero emissions in its operations by 2030 and net zero emissions across its value chain by 2039.
Unilever Bangladesh BizMaestros 2023: Shaping Future Business Leaders
The company is also transitioning to renewable energy across its operations, finding new low-carbon ingredients, expanding plant-based product range and developing fossil-fuel-free cleaning and laundry products. Globally Unilever is working to reduce the impact of its products when used by consumers including plastic waste management, added the release.
Banks will provide 7% interest on foreign currency deposits: Bangladesh Bank
Banks will pay more than 7 percent interest on resident foreign currency deposits (RFCD), Bangladesh Bank has said.
Apart from this, various benefits including sending money outside the country, and issuing multiple cards will be available from such accounts.
Read: Revenue collection up by 14.36 percent in July-October, but behind target: NBR
The central bank has taken the decision to address the ongoing dollar crisis in the country. Bangladesh Bank issued a notification in this regard to all commercial banks.
The notification said that one can deposit $10,000 as RFCD. From now on, banks will pay at least one and a half (1.5) percent interest on these deposits along with the benchmark rate.
Read: No dollar trading at official exchange rate as Tk 15 spread opens up with kerb market
As such, two supplementary cards can be issued against the deposit. Dependents including children or siblings can use the card. Education expenses abroad can be remitted from this account. Again, the medical expenses of spouses, children, siblings, and parents who are dependent can also be borne from here.
US will be notified about labour law amendment: Commerce Secretary
The United States will be notified about the recent amendments to the labour law and Bangladesh Export Processing Zones Authority (BEPZA) Act, Commerce Ministry’s Senior Secretary Tapan Kanti Ghosh said today.
He made the remark during a press conference at his office in Secretariat.
“We held a meeting today to discuss the implementation of labor rights as outlined in our national action plan. We assessed our progress to date and identified areas for further improvement. As Bangladesh transitions from a least developed country (LDC) to a developing country in 2026, the European Union and other nations are seeking our commitment to uphold labour standards. We discussed strategies to fulfill these commitments,” the senior commerce secretary said.
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When asked whether the United States would be formally notified of these decisions, he said that the requests from the US, including labour law reform and amendments to the BEPZA act, have been fulfilled.
“We will inform the United States of this progress within the next few days,” he said.
US Secretary of State outlined how they engage with govts, workers to protect labor rights: State Dept Spokesperson
“We have ratified the International Labour Organization (ILO) conventions, ensuring that our labour laws adhere to certain standards. We have complied with their request to lower the unionization threshold — from 20% to 15% of the total workforce in a factory,” he added.
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Revenue collection up by 14.36 percent in July-October, but behind target: NBR
The revenue collection has increased by 14.36 percent to Tk 1,03,976 crore in the first 4 months of the current FY2023-24 compared to the same period during the previous FY 2022-23, according to National Board of Revenue (NBR) available on Sunday.
According to the provisional data of the NBR, three wings of the revenue board have collected Tk 1,03,976 as income tax, Value Added Tax (VAT), and Customs Duty during the first quarter of FY2023-24. This marks a revenue collection rise by 14.36 percent during the first quarter of the current fiscal.
Read: Taxpayers’ number should reach one crore considering individual income: NBR Chairman
During the same period of FY2022-23 the revenue board had collected Tk90,913 crore.
The sector-wise revenue income has been – Tk32668 crore from the customs duty, Tk40048.62 crore from VAT, and Tk31259 crore from the income tax and travel tax sector.
However, the revenue is slightly behind the target for the period. The revenue target for four months was Tk 1.23 lakh crore.
Read: Bangladesh's useable forex reserves drop to $15.82 billion: Sources
In the current fiscal year, the revenue target for NBR is set at Tk 4.30 lakh crore.
Fakir Apparels wins ISPO Award in Sportswear for its Calor Jacket
Fakir Apparels, a prominent player in the apparel industry, won the ISPO Award 2023 for the Calor Jacket, an innovative women's piece.
Through this, the apparel manufacturer from Bangladesh has been recognized as the first Bangladeshi manufacturer to be honoured with the International Society for Professional Apparel and Textile Industry (ISPO) Award.
The ISPO bestowed this prestigious award upon Fakir Apparels, recognizing their commitment to performance, sustainability, and innovation in outdoor apparel, said a press release.
This accolade marks Fakir Apparels as the first Bangladeshi manufacturer to receive the esteemed ISPO Award Winner title.
Read: Expatriate Awards launched at Bangladesh High Commission in Australia
In dispelling the notion that high-end technical wear manufacturing is exclusive to the Far East, Fakir Apparels reflects the broader trend in Bangladesh.
The country's manufacturers are making significant strides in this market, tapping into a wealth of young talent, seasoned expertise, and entrepreneurial spirit.
Fakir Apparels, traditionally known for cotton-based garments, shifted a substantial portion of its products to synthetic and synthetic blends while maintaining its client base.
In 2018, they launched a specialized technical wear manufacturing facility, marking five years of success in the sportswear industry.
Read: Islami Bank bags Mastercard Excellence Award 2023
Fakir Nafizuzzaman, Deputy Managing Director of Fakir Apparels Ltd., emphasizes the company's commitment to sustainability through bold actions like the Calor Jacket.
This revolutionary piece not only integrates cutting-edge technology and a circular philosophy but also reduces garment waste by an impressive 97 percent.
Acknowledging the broader industry shift, he said the myth that high-end technical wear manufacturing capabilities are exclusive to Far East manufacturers no longer exists.
Local manufacturers, including Fakir Apparels, are steering this shift from traditional cotton-based garments to synthetic fiber-made high-end technical wear, marking a game-changing moment for Bangladesh's RMG industry.
Read: Prof M Harunur Rashid receives Abu Rushd Literary Award
Fakir Apparels' journey signifies a pivotal moment in the industry, showcasing Bangladesh's prowess in technical wear manufacturing and its commitment to a sustainable future.
He also said its innovative design and R&D wing has been actively engaged in introducing sustainable changes to the fashion and sportswear industry.
International Chamber holds workshop on settlement of credit disputes
International Chamber of Commerce Bangladesh (ICCB) organised a day-long workshop titled ‘Settlement of Documentary Credit Disputes through ADR: Review of ICC Arbitration & DOCDEX Cases’ on Saturday.
Ninety-six participants from 25 Banks including four from BIBM and other officials attended the Workshop, according to a press release.
ICC Bangladesh Vice President and CEO of Standard Chartered Bank Naser Ezaz Bijoy inaugurated the Workshop. ICCB Secretary General Ataur Rahman and Workshop Resource Person KM Lutfor Rahman also addressed the inaugural session.
BGMEA supports Simon Project for enhanced workers’ health data collection
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has announced its support for the Simon Project, a multi-stakeholder initiative led by the Simon Institute based in London, UK.
The Simon Project, jointly funded by Associated British Foods and the German Development Cooperation Agency (GIZ), aims to obtain recurrent data to calculate the ratio of non-fatal accidents in Bangladesh.
The launching of the Simon Project was held at BGMEA Complex in Dhaka recently in the presence of Faruque Hassan, President of BGMEA, and Javier Chercoles PhD, Director of Simon Institute, BGMEA said on Sunday. From BGMEA, Senior Vice President S. M. Mannan (Kochi), Vice President Shahidullah Azim, Directors Faisal Samad, Abdullah Hil Rakib, Navidul Huq and Rajiv Chowdhury were also present.
The Simon Project will implement an innovation site at BGMEA headquarters in Dhaka and IT tools in 9 BGMEA medical centres. This collaborative effort will engage both international and local forensic teams, including the University of Santiago de Compostela (Spain) and Dhaka Medical College respectively to train paramedics and doctors to collect critical health incidence data for minor injuries, health issues and Covid incidence.
This data will be essential to calculate the provision of insurance for all RMG workers which can be funded by private insurance companies and/or the public sector as well as calculating financial contribution from factories and international brands.
Since 2022, the Simon Project has already begun collecting data from 50 factories and has collected health incidence data for over 200,000 workers. Expansion of the project into the 9 medical centres of the BGMEA will allow for data collection of all more RMG workers in Bangladesh.
The Simon Project is complementary to the Employment Injury Scheme (EIS), supported by ILO and GIZ.
The Simon Project is collecting everyday-worker health issue data of which more than 5 million data sets are expected in one year. Both schemes are closely aligned with the BGMEA goal to provide social protection for all RMG workers in Bangladesh.