Business
MCCI Congratulates the PM for Inauguration of Dhaka Elevated Expressway
The Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) congratulated Prime Minister Sheikh Hasina, on the inauguration of the Dhaka Elevated Expressway (DEE).
This marks a significant milestone as DEE becomes Bangladesh's first large-scale infrastructure project developed through a public-private partnership, MCCI said.
By enhancing Dhaka's transportation network, DEE is poised to drive economic growth, job creation, and improved efficiency. The initial phase will open the Airport-Farmgate section.
Read: Which vehicles can’t use Dhaka Elevated Expressway?
"We commend the government for their unwavering commitment to enhancing the nation's infrastructure and their visionary approach in bringing this project to fruition.
MCCI is confident that the Dhaka Elevated Expressway will effectively contribute to making Dhaka a more prosperous and livable megacity. Under the dynamic leadership of the Honorable Prime Minister Sheikh Hasina, M.P., Bangladesh is progressing toward higher levels of development and prosperity. MCCI takes immense pride in witnessing this remarkable achievement," a press release said.
Read more: Big hopes of transformation in commute: Dhaka Elevated Expressway ready for opening today
Over 200 Nagad distributors to be sent to KSA for performing Umrah
Nagad, a leading mobile financial provider, has arranged the “Distributors Meet 2023”, which brought together its key partners, amid much enthusiasm like every year.
On the occasion, Tanvir A Mishuk, founder and managing director of Nagad Limited, announced that he was going to arrange Umrah, an Islamic pilgrimage to Mecca, for more than 200 distributors.
The Distributors Meet 2023 was held on Friday at a five-star hotel in Dhaka. Nagad conferred awards in different categories on the distributors who smoothly and successfully managed the company’s business activities spread across the country, says a press release on Saturday.
Read: Nagad offers ‘Jawan’ movie tickets on ‘Add-Money’ transactions
Shihab Uddin Chowdhury, Chief Commercial Officer of Nagad, moderated the event in the presence of senior officials of the company.
At the national level, six distributor houses received the highest accolades, such as the Distributor Excellence Award, Growth Hacker Distributor Award, Ultimate Contributor Award, Most Consistent Performer Award, Best Market Drive Award, and Campaign Achiever Award.
Apart from these six individuals, a person won a grand prize. He got a sedan car as the best of the best for having done the highest transactions from a part of Dhaka.
Read: Cashback with profit on universal pension’s instalment payout through Nagad
Founder and Managing Director of Nagad Ltd. Tanvir A Mishuk said at the event, “We could have given different prizes to every distributor if we wanted to. But I felt like giving such a reward, so that it will be a sweet memory for everyone’s life. I have announced Umrah for Muslim distributors and foreign trips for distributors of other faiths.”
Like the previous Distributors Meets, there had been a unique setup with various arrangements this time.
Dhaka-Narita Tokyo direct flights launched
State Minister for Civil Aviation and Tourism Md Mahbub Ali on Friday night inaugurated national flag carrier Biman's Dhaka-Narita (Tokyo) direct flight at Hazrat Shahjalal International Airport (HSIA) in Dhaka.
The inaugural flight took off from Dhaka around 11:45 pm local time and will reach Narita International Airport in Japan on September 2 at 9:15am local time (6.15am BDST).
The flight, BG-377, from Narita International Airport to Dhaka will also take off on September 2.
Biman provides ‘line training’ to foreign pilots on Dreamliners
Mohammad Tofazzal Hossain Miah, principal secretary to Prime Minister's Office joined the event organised marking the inaugural programme as guest of honor.
Mostafa Kamal Uddin, chairman of Biman board of directors, Md Mokammel Hossain, secretary to the ministry of Civil Aviation and Tourism, IWAMA Kiminori, ambassador of Japan to Bangladesh and Air Vice Marshal M Mafidur Rahman, chairman of Civil Aviation Authority of Bangladesh joined as special guest, reads a media release signed by Shafiul Azim, Managing director and CEO of Biman Banglaesh Airlines.
After Narita (Tokyo), Biman eyeing flights to New York, Chennai, Los Angeles, Rome
Biman Bangladesh Airlines said flights from Dhaka to Narita will depart every Friday, Monday and Wednesday at 11:45 pm and from Narita to Dhaka, every Saturday, Tuesday and Thursday at 11 am.
The local airlines started selling tickets for the Dhaka-Narita (Tokyo) direct flights from July 25. The minimum one-way fare on the route is Tk 70,828 and return ticket price is Tk 1,11,656 per passenger.
Biman Bangladesh Airlines and Gulf Air forge strategic partnership for enhanced travel connectivity
Biman offered a discount on the occasion of the inauguration of direct flights on the Dhaka-Narita route. The special discount was on till August 15. At the time, the minimum one-way fare on Dhaka-Narita route was Tk 49,100 and return tickets were Tk 84,496 per passenger.
Helen Keller International and BGMEA join forces to enhance eye care for garment workers and boost productivity
Helen Keller, a leading global organization dedicated to preventing blindness and promoting eye health, has partnered with the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) to address a pressing public health issue in Bangladesh – vision problems among garment workers.
The joint initiative aims to integrate comprehensive eye care services within health facilities managed by BGMEA, ultimately enhancing workers' productivity and well-being.
Faruque Hassan, President, BGMEA, and Hasina Akhter, Country Director, Helen Keller International, Bangladesh signed the MoU on behalf of their respective sides, according to a media release.
BGMEA Vice President Miran Ali and Director Neela Hosna Ara were also present at the MoU signing ceremony.
Read: Japan-Bangladesh business cooperation will grow further: speakers
With an estimated 27 million people suffering from moderate to severe visual impairment in Bangladesh, the partnership between Helen Keller and BGMEA seeks to address this issue head-on.
Uncorrected refractive errors are a significant cause of visual impairment, affecting not only the workers' daily lives but also their capacity to fulfill their educational and employment potential. The initiative will focus on the provision of primary eye care services, including basic eye examinations, prescription glasses, and referrals for more complex eye disorders.
The project will involve training clinicians at five BGMEA-affiliated health facilities, equipping them with the necessary tools to provide effective eye care services. A key aspect of this collaboration is assessing the impact of improved eye health on workers' productivity.
A recent study demonstrated that providing eyeglasses to tea pickers led to a significant reduction in product defects and improved overall productivity. The initiative aims to replicate this success within the garment industry.
Read: CPD suggests bringing 856 risky garment factories under monitoring
Faruque Hassan, President, BGMEA, said, “We are delighted to partner with Helen Keller International in providing eye care services to garment workers in Bangladesh. The initiative will improve the eye health of workers, which in turn will also boost their productivity.”
Hasina Akhter, Country Director, Helen Keller International, Bangladesh, said, “Carrying forward the legacy of Helen Keller, through this partnership between BGMEA and Helen Keller International, we will be able to support the garment workers in eye health care and improve the quality of their life.”
HSBC showcases 'Next Step to Growth for Apparel Industry'
HSBC Bangladesh recently organised an event titled "Supply Chain Reconfiguration and Structured Trade Finance" for the apparel industry.
HSBC recognised the importance of the role that supply chain strategies and structured trade finance play in this transformative process, according to a press release.
Also read: HSBC and IBA award young talents of Bangladesh with future skills
Faruque Hassan, president of BGMEA; Jose Manuel Romay, Deputy Chief Financial Officer, Inditex S.A., Madrid, Spain; Vinay Mendonca, Chief Growth Officer, Global Trade and Receivables Finance, HSBC HQ; Md Mahbub ur Rahman, Chief Executive Officer, HSBC Bangladesn, participated in the event, among others.
There was a panel discussion focusing on Bangladesh transformations in supply chain reconfiguration, participated by Ziaur Rahman, regional country manager of H&M Group; Zahur Ahmed, managing director, Apex Holdings Limited; Mohammed Abdur Rahim, vice chairman, DBL Group; and Stuart Rogers, regional head of international markets, commercial banking, Asia-Pacific, HSBC, the release said.
Also read: HSBC named international retail bank of the year in Bangladesh
"We have proven our capability globally, being the 2nd largest apparel manufacturer with about 8% market share and retaining our position since 2010. Now, we have a vision to grab 12% market share and grow our exports to US$ 100 billion by 2030 through product, fibre, and market diversification, innovation, technological up-gradation, up-skilling our workers, and continued focus on sustainability with around 200 LEED certified green RMG factories at present," said the BGMEA president.
"HSBC can play a pivotal role in introducing innovative solutions and creating awareness among Bangladeshi apparel exporters in view of changing market dynamics. I welcome HSBC Bangladesh to explore more ways to collaborate with BGMEA, through sharing knowledge and information and capacity building on financial management, to continue to benefit our exporters in the coming days," he said.
Also read: HSBC and IBA award young talents of Bangladesh with future skills
Today, ‘Made in Bangladesh’ has reached different corners of the world, making us one of the top global players in apparel exports. HSBC is grateful to the Bangladesh apparel industry for trusting us as a partner in their growth journey. Leveraging our international connectivity and expertise in structured trade solutions, we will continue to support the evolving needs of the industry in a rapidly changing global supply chain landscape," said HSBC Bangladesh CEO Md Mahbub ur Rahman.
"HSBC is the world’s largest trade bank and is also the leading trade finance provider in Bangladesh, catering for approximately 10% of the country’s trade volume. Boasting a strong partnership of more than 25 years, we specialise in the ready-made garment sector, the key driver of national exports in the economy. Our profound industry insights, unwavering innovation, cutting-edge technology, and global expertise provide significant support that underpins growth for the sector," said Stuart Rogers, regional head of International Markets, Commercial Banking, Asia-Pacific at HSBC.
The discussion revolved around the changes in trade terms from LC to open account, the increase in deferred tenors, and the subsequent need to finance these non-traditional dimensions. The need for international insurance companies to support such financing was also highlighted, added the release.
Daraz celebrates 9th anniversary
E-commerce platform Daraz Bangladesh celebrated its 9th anniversary on Thursday with a vision of uplifting communities through the power of commerce.
This milestone was observed through the declaration of a special campaign "Daraz 9th Anniversary (Noy er Ullash)." This festivity guarantees a journey packed with joy, exploration, and exceptional savings.
On a momentous occasion to celebrate this journey, a press conference was held at InterContinental Dhaka where top officials of Daraz declared the campaign. With the resonating slogan “Eita, Oita, Jeita Lage, Shobee Kinun Daraz-e”, the campaign commemorates an adventurous nine-year journey. The delights are set to unfold from September 12 to 24, 2023.
Read: Daraz organizes “Influencer Connect” Season 1 to empower content creators
The campaign captures the spirit of embracing convenience, quality, and variety, offering a seamless world of shopping possibilities.
Syed Mostahidal Hoq, Managing Director of Daraz Bangladesh, Lu Yao, Group Chief Commercial Officer, Khondoker Tasfin Alam, Chief Operating Officer, A H M Hasinul Quddus Rusho, Chief Corporate Affairs Officer, and other high officials were present at this ceremony.
Besides, celebrities, popular influencers and affiliates ornamented the event as special guests.
Syed Mostahidal Hoq, MD of Daraz Bangladesh, said, "As we unlock the attractive offers on our Anniversary, I reminisce about the nine years journey from the inception to transformation of Daraz into the leading e-commerce marketplace of Bangladesh. Over the timeline, Daraz has evolved itself and took leverage of the technological, logistical and leadership expertise from Alibaba to emerge as an app that is highly user-friendly to provide customers with an extraordinary shopping experience. Moreover, we are committed to uplifting the community by building a strong seller base while assuring the top most quality."
Read: Daraz partners with Visa to introduce ‘Co-Branded Card’ to enhance online shopping experience
Lu Yao, Group Chief Commercial Office of Daraz Bangladesh, said, "As we mark our9th Anniversary, we are committed to nurturing our seller base and pioneering innovative buyerpropositions. Together, we're dedicated to uplifting communities through the transformativepower of commerce, shaping a bright and digitised landscape in Bangladesh. On this note, Iam excited to introduce an extraordinary array of offerings that encompass Up to 70% Off (onHero SKUs), Hot Deals, Free Delivery on specific deals, Flash Sale, Numerous New Launches,Everyday Low Price, Early Bird Vouchers, Mystery Box, Add to Cart, and much more. Theseexciting opportunities are tailored to redefine your shopping experience and celebrate thisremarkable journey with us."
Khondoker Tasfin Alam, Chief Operating Officer of Daraz said, Daraz always wants to work with society.
“In line with doing our own business, we should also look for ways to enrich the government's resources. The Post Office is our national wealth, we work to ensure its proper use and to improve it. We are happy to announce that around 50 collection points will be launched in this anniversary campaign, each of which is a post office. With our expertise and technological excellence, we are able to provide the best delivery service to the customers along with the post office,” he added.
The campaign's seamless transactions are facilitated by payment partners including bKash,Nagad, Eastern Bank Limited, EBL ZIP, HSBC, Southeast Bank Ltd., Prime Bank Limited,NCC Bank, City Bank and BRAC Bank.
Nagad offers ‘Jawan’ movie tickets on ‘Add-Money’ transactions
Mobile financial service provider Nagad is offering for its customers to win tickets for Indian movie “Jawan” starring of Bollywood star Shahrukh Khan, on “Add-Money” transaction of Tk 2,000 or more to their Nagad wallets from banks and cards.
To get a chance to win movie tickets, a Nagad wallet holder has to go to the “Add Money” option from Naga’ app and needs to select “Bank to Nagad” or “Card to Nagad”. Following that they will choose their respective banks and/or Mastercard or VISA cards and add Tk 2,000 or more to their Nagad wallets, according to a press release.
The MFS operator has a partnership with 36 leading banks in Bangladesh.
Read: CPD suggests bringing 856 risky garment factories under monitoring
The campaign commencing on September 1 will remain valid till September 15. Nagad customers will get the opportunities to win thousands of movie tickets during the campaign period. A pair of tickets will be given to each winner, it said.
This campaign is open for all full profile and active Nagad account users, it added.
“We are regularly launching various campaigns only to encourage people towards digital transactions. This one is no different,” said Sadat Adnan Ahmad, Nagad’s chief marketing officer.
Read: Walton Plaza provides 119 families with over Tk 32 lakh as financial assistance
“Keeping in mind, the government’s target to go cashless in 75 percent of the country’s total transactions by 2027, Nagad is opening up more and more options for customers to enjoy digital financial services in the comfort of their home,” he added.
At present, a mobile recharge campaign is going on that offers customers an opportunity to win a sedan car every week on a mobile recharge of Tk 50 or more. The mega campaign will continue September 30, the release also said.
Japan-Bangladesh business cooperation will grow further: speakers
Volume of bilateral trade between Japan and Bangladesh will reach a new height soon, speakers said on Wednesday.
They made their observation in a discussion organised by the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), on Wednesday jointly with the Japan External Trade Organisation (JETRO) to unveil the 2022-JETRO Survey on Business Conditions of Japanese Companies in Asia and Oceania.
Lokman Hossain Miah, Executive Chairman (Senior Secretary), of Bangladesh Investment Development Authority (BIDA), was present as the chief guest. IWAMA Kiminori, Ambassador of Japan to Bangladesh, attended the event as the special guest. Yuji Ando, Country Representative, JETRO Dhaka, made the keynote presentation on the report.
Lokman appreciated Japan’s efforts towards Bangladesh’s development and praised the interest of the Japanese investors to invest more.
He gave an update on BIDA’s recent work towards making Bangladesh’s business climate more investor-friendly.
Ambassador Kiminori emphasised on the need for a joint action plan for a public-private economic dialogue.
He also assured of handling the increasing demand for Japanese visas to the best of their abilities.
The ambassador reiterated Japan’s continued commitment and efforts to improve Bangladesh’s business environment.
MCCI President Md. Saiful Islam said that Japanese companies had played a crucial role in the economic progress of Bangladesh and the entire Asia and the Oceania region.
He praised JETRO for their regular research and dissemination of the findings.
Despite the pandemic and the Russia-Ukraine war, Bangladesh had become an attractive destination for Japanese companies, with nearly 350 of them investing more than $380 million in total, with Japanese investments in Bangladesh going past $100 million in 2022, said the MCCI president.
The speakers also hoped that the EPA between Japan and Bangladesh would soon become a reality, elevating the bilateral business to newer heights. Bangladesh’s exports to Japan could also reach $10 billion by 2030 if business conditions could be improved.
A panel discussion was held during the event. The panelists were MCCI’s immediate past President, Nihad Kabir, the Japanese Commerce and Industry Association (JCIA) in Dhaka’s President, Tetsuro Kano, Ministry of Commerce’s Joint Secretary (FTA-1), Abdus Samad Al Azad, and Japan-Bangladesh Chamber of Commerce and Industry’s (JBCCI) Vice-President, Manabu Sugawara.
Besides, representatives from the government, various member firms of MCCI, the Japan-Bangladesh Chamber of Commerce, the Japanese Commerce and Industry Association in Dhaka, and JETRO officials attended the event.
Country’s 3rd tea auction centre set to be launched in Panchagarh
The country’s third tea auction centre in the northern district of Panchagarh is set to be launched on September 2.
Minister for Commerce Tipu Munshi is expected to inaugurate the centre as the chief guest.
Bangladesh Tea Board and Panchagarh district administration jointly organised a preparatory meeting on this occasion at the conference room of the deputy commissioner (DC) on Wednesday.
Speakers including Tea Board Chairman Major General Ashraful Islam put forward their views regarding the centre at the meeting.
Addressing the event, Ashraful ordered to strictly use mobile courts by the authorities to curb smuggling of tea along with ensuring quality of produced tea.
Read: Country’s 3rd tea auction centre to open in Panchagarh in September
He said the tea cultivation in the district started due to sincere efforts of Prime Minister Sheikh Hasina and later it spread across the northern region.
The tea board chairman informed that over 1.77crore kg of tea worth around Tk 260 crore was produced in the district last year which is 19 percent of the total production of the country. The district ranks second in tea production.
He said all kinds of preparation have already been completed and the auction will be tendered online and for that warehouses have been built.
Read: Bangladesh’s third tea auction centre to open in Panchagarh in a month
Chaired by DC Md Jahurul Islam, Tea Board’s Joint Secretary Nurullah Nuri, Zilla Parishad Chairman Md Abdul Hannan Sheikh and Superintendent of Police SM Sirajul Huda, among others, joined the event.
The first and second tea auction centres in the country are in Chattogram and Moulvibazar’s Sreemangal.
CPD suggests bringing 856 risky garment factories under monitoring
The Centre for Policy Dialogue (CPD), a think tank, on Wednesday suggested taking immediate step to bring 856 hazardous garment factories under monitoring to avoid tragedies.
Khondaker Golam Moazzem, research director of CPD, made the suggestion at a briefing on 'Workplace safety in the garment industry: Challenges to sustain achievement' at the CPD office in Dhanmondi.
Read: Bangladesh keen to increase its readymade garments exports to Canada: BGMEA chief
Executive director of CPD Dr Fahmida Khatun moderated the event. Other researchers of the organization were present at the briefing.
Moazzem said, “There are still many risky garment factories in the country. 1887 factories are under the monitoring of the RMG Sustainability Council (RSC) and 350 factories have been identified as safe.”
He said that 659 factories are under the monitoring of the Remediation Coordination Cell (RCC) and a total of 2,896 factories are under the monitoring of RSC and RCC.
However, 856 factories, which is around 23 percent of the total factories, are currently not under any inspection.
Read: Garments workers burn 3 police bikes at protest demanding pay rise
An eye should be kept on how these factories can be brought under security, he said.
Moazzem said 856 factories are doing business and exports are also going on but there is no monitoring of them.
This number of factories without monitoring is likely to increase and it may go up to 30 percent of the total factories in the near future, he added.
Read: Tk 6.62cr worth garments seized at Ctg port
“If there is an accident in these factories who will take responsibility? BGMEA and BKMEA will not take responsibility. We want all factories to be made accountable to some organization,” Moazzem said.
According to the CPD, 2023 marks the 10th anniversary of the Rana Plaza collapse. In the decade following this disaster, significant initiatives have been taken to improve workplace safety in the garment industry in Bangladesh.
In particular, the formation of Accords and Alliances and the activities they operate have provided strong guidance for workplace safety oversights, it said.