Local-Business
Nagad to disburse Mohila Sangstha’s training allowance among 7,200 women
Nagad, a mobile financial service provider of Bangladesh Postal Department, has been entrusted with the job of disbursing training allowance among 7,200 trainee women under the Jatiyo Mohila Sangstha Sewing and Embroidery Training Project of the Women and Children Affairs ministry.
To this end, a tripartite agreement was recently signed among Jatiyo Mohila Sangstha, the Directorate of Posts and Nagad Limited at the office of Jatiyo Mohila Sangstha in the capital, said a press release on Tuesday.
Additional Secretary Abeda Akhter, executive director of Jatiyo Mohila Sangstha, Deputy Secretary Syeda Meherun Nessa Kabir, director of Jatiyo Mohila Sangstha, and Md Shafayet Alam, executive director of Nagad Limited, signed the agreement on behalf of their respective sides.
Mohammad Monirul Islam, general manager of Nagad, along with other high officials from both the organisations were also present during the signing ceremony.
Under the initiative, a remuneration of BDT 100 will be given to a trainee for each day. The number of trainees from 30 upazilas of 50 districts stands at 7,200. Each of them will receive 80 days of allowance amounting to BDT 8,000 in three instalments in their Nagad wallets.
They will also be given cash-out charges, enabling them to withdraw the money from their nearest “Uddokta” points at no cost.
Speaking at the signing ceremony, Md Shafayet Alam, executive director of Nagad Limited, said, “Nagad has been disbursing government social safety allowances, stipends, and various cash aid among beneficiaries since its inception. In this case, we are unwavering in our commitment to maintain openness.”
“We believe the Ministry of Women and Children Affairs has entrusted us with the job of allowance disbursement because of Nagad’s tremendous successes in disbursing all types of allowances in a transparent way,” he added.
Presently, Nagad disburses 100% of primary education stipends and 75% of social safety net allowances, such as old age allowance, widow allowance, Bede Community Development allowance, transgender community development allowance, Tea Garden workers’ living standard allowance, backward community Development allowance, disabled allowance, and others.
Besides, stipends under the Prime Minister’s Educational Assistance Trust are also disbursed through Nagad.
Chinese company to invest $6 million in BEPZA Economic Zone
Dhaka, May 15 (UNB): Chinese company Jibin Technology (BD) Co. Limited is going to set up a factory manufacturing shoe accessories in the BEPZA Economic Zone (EZ) in Mirsharai, with an investment of $6 million.
Jibin Technology (BD) signed an agreement with the Bangladesh Export Processing Zones Authority (BEPZA) to this effect at the latter’s premises in the capital on Monday.
Ali Reza Mazid, Member (Investment Promotion) of BEPZA and Wu Xueli, Managing Director of Jibin Technology (BD) Co., Ltd. signed the agreement on behalf of their respective organisations.
BEPZA Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, ndc, psc witnessed the signing ceremony.
Jibin Technology (BD) will produce 6 million pairs of shoe accessories annually, like Outsole, Midsole, Injection Parts, Backstay, Heel Clip, Toe Cap, Sports Spike, EVA, PU Foam, PU Component, etc. Initially, they will create employment opportunities for 195 Bangladeshi nationals.
The BEPZA EZ is a larger venture of BEPZA located within the Bangabandhu Sheikh Mujib Shilpa Nagar springing up in Mirsharai, Chattogram on 1138.55 acres of land.
To turn it into a vibrant industrial enclave, BEPZA has now signed lease agreements with a total of 18 domestic and foreign companies, including Jibin Technology (BD).
The companies are so far slated to invest $400 million to produce diversified products including traditional readymade garments.
Products and solution-services exhibition begins in city
A three-day exhibition of products and solution-services of domestic and foreign companies related to infrastructure construction, power generation, renewable energy, safe HVACR and water management started on Thursday at the International Convention Center (ICCB) in the capital's Bashundhara.
Savor International Limited organised this international exhibition under the banner of ‘SAFECON 2023’.
Planning Minister M A Mannan inaugurated the exhibition as the chief guest. Md Habibur Rahman, Secretary of the Power Division of the Ministry of Energy, was present at the programme as a special guest.
A total of 120 companies from 16 countries participated in this exhibition. Visitors from different public and private projects are coming to the exhibition.
The exhibition is open for all the visitors from May 11 to May 13 (10.00 am to 7.00 pm) every day.
Mohammad Hossain, Director General of the Power Cell of the Ministry of Power, Al Mamun Mridha, Secretary General of Bangladesh China Chamber of Commerce and Industry (BCCCI), Engineer Md Hasmatuzzaman, President of the ASHRAE, among others, were also present at the inauguration ceremony.
We accept Uniqlo’s decision with a heavy heart: Yunus Centre
Lamiya Morshed, Executive Director at Yunus Centre, has said it is sad to see a decision to close Grameen-Uniqlo’s outlets in Bangladesh soon after a great success.
"We accept Uniqlo’s decision with a heavy heart," she said in a statement, adding that they have been very happy with this example of the success of a global Social Business undertaken by a popular global company.
Lamiya said they are very sorry that Grameen Uniqlo has decided to close down its business.
It has been a well-known popular global brand marketed globally through Uniqlo's stores, particularly through their unique super stores in mega cities all over the world, Lamiya said.
These products attracted global attention along with the message of Social Business, she said.
The global clothing brand will close all 10 of its stores in the country by 18 June this year, said a press release.
"In view of Bangladesh’s significant economic development in recent years, as well as changes to its business environment, we have determined that our company has fulfilled a certain role and has decided to conclude its business activities," it said.
Raid if sugar is not sold at govt-fixed rate: Tipu Munshi
Commerce Minister Tipu Munshi on Thursday said that the market monitoring team will start raids to ensure that sugar is being sold at prices fixed by Bangladesh Trade and Tariff Commission (BTTC).
The minister also said they would consider importing onions if its price continues to rise.
The commerce minister made the statement in response to reporters' questions after a courtesy call by Helena Konig, deputy secretary general for Economic and Global Affairs of the European Union, at the ministry on Thursday afternoon.
The minister said that due to the increase in the price of sugar in the international market the new price has been fixed.
Traders including Bangladesh Sugar Refiners Association have been informed to sell loose sugar at Tk 120 per kg and packaged sugar at Tk 125 per kg as per the recommendation of the BTTC, Munshi said.
“Instructions will be issued to the concerned authorities including the National Consumer Protection Directorate, and District Administration to see whether they are selling sugar in the market at this price or not,” he added.
The price of onions in the market has increased a lot within a short time. When asked about the government's action in this regard, the minister said that if the price continues to rise like this, initiatives would be taken to import onion from India soon.
“Imports have been cut as domestic onion production is adequate. The market is being monitored. If the price of onion continues to rise, imports will be considered,” the minister said.
Nagad mega campaign: Over 5,000 gift items distributed among winners
Nagad, a leading mobile financial services provider in the country, has so far handed over more than 5,000 gift items, including nearly 100 motorbikes and refrigerators, to the winners under an ongoing mega campaign.
The joy of the winners doubled when they received such exciting gifts from their favourite celebrities, such as Bangladesh National Cricket Team’s ODI captain Tamim Iqbal Khan and television stars – Nusrat Faria, Mishu Sabbir, Ziaul Hoque Polash and Parsa Evana.
Nagad continues to give away gifts to everyday winners under the mega payment campaign that began on 23 March. In continuation of it, the MFS operator distributed gifts among the winners at its head office on 10 May, said a press release on Thursday.
On April 14, on behalf of Nagad, star cricketer Tamim Iqbal reached out to Anup Elvin Adhikari, a renter in Dhaka city, and gave him an exciting sedan car that he won through a Nagad payment.
Expressing his happiness after having received the sedan car, Anup said, “Nagad has changed my life. I won a car through Nagad payment and got to meet Tamim bhai…it is a great feeling for me. Most importantly, we got back our father thanks to Nagad that paid his treatment costs.”
On 17 April, Mobasshera Orny received a refrigerator from actress Nusrat Faria.
Nagad has so far distributed 560 bikes, refrigerators, smart televisions, mobile phones and tabs under the ongoing mega campaign. Besides, 3,300 headphones and smartphones were instantly handed over to the winners at shopping malls. Moreover, 1,673 headphones and smartphones were given to winners through couriers. In all, Nagad has handed out more than 5,000 gifts as of now.
Regarding the current mega campaign, Sadat Adnan Ahmad, chief marketing officer of Nagad said, “Nagad’s mega campaign has appeared as a reason for happiness for our customers.”
“We are getting a huge response from people across the country. Every day winners receive their desired gifts. We want people to get used to digital payments and save their hard-earned money,” he also said.
Under the campaign, customers have opportunities to win various exciting gifts only by buying products worth a minimum of Tk 500 from specific merchants using their Nagad wallets.
Besides, every hour 10 customers are getting a cashback up to 100 percent or maximum Tk 2,000 on Nagad payments from 10 am to 11.59 pm during each campaign day. The cashback amount is sent to their Nagad wallets the next working day.
During the mega campaign that will continue till 30 June, a customer will enjoy cashbacks a maximum of three times, while they will be eligible for the mega offer for once.
Tk5000 crore needed for SMEs to break market monopoly: Kamal Mojumder
State Minister for Ministry of Industries Kamal Ahmed Mojumder on Thursday said the small and medium entrepreneurs are missing from markets due to dirty competition imposed by large companies, which are making hefty profits through monopoly and syndication of daily essential goods.
He sought a fund of at least Tk5000 crore in the upcoming budget to assist the small and medium entrepreneurs through subsidies so that a fair completion remains in the market.
As an example, the state minister said the sugar price would not go much higher if the state-owned sugar industries were not shut down.
The minister said this while speaking as the chief guest at a workshop titled 'Role of media in the development of SME sector in the post-Covid-19 situation' held at the conference hall of the Economic Reporters’ Forum (ERF) in the capital on Thursday.
ERF and SME Foundation jointly organised the workshop. Chairman of SME Foundation Professor Dr. Md Masudur Rahman, ERF President Mohammad Refayet Ullah Mirdha, and General Secretary Abul Kashem also spoke at the function.
The Managing Director of SME Foundation Md. Mofizur Rahman gave a presentation on SME Foundation's activities along with the organisation's future plan.
He highlighted the role of the SME Foundation in creating small and medium entrepreneurship.
BGMEA chief urges EU to support Bangladesh in smoother LDC graduation with extended transition period
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan has urged the European Union to extend the transition period of GSP from the current three years to six years.
He said the extension would help Bangladesh to prepare well for smooth graduation from the LDC category and continue the growth momentum even in the post-LDC era.
The BGMEA chief made the request during a meeting with Helena König, Deputy Secretary General for Economic and Global Issues, European External Action Service (EEAS) in Dhaka on May 10.
Monika Bylaite, Deputy Head of Delegation, South Asia, EEAS; Charles Whiteley, Ambassador and Head of the Delegation of the European Union to Bangladesh; Dr. Bernd Spanier, Deputy Head of EU Delegation in Bangladesh; Maurizio Cian, Minister Counsellor and Head of Cooperation; and Jurate Smalskyte Merville, Counsellor and Team Leader- Education, Human Development and PFM at the Delegation of the European Union to Bangladesh; and Sameer Sattar, President of Dhaka Chamber of Commerce and Industry (DCCI) were also present at the meeting.
During the meeting, they discussed various issues including trade and investment, Everything But Arms (EBA), Bangladesh relations with the EU in the post-LDC era, and other issues of bilateral importance.
BGMEA President Faruque Hassan apprised Helena König of the major developments of Bangladesh’s apparel industry, particularly in terms of workplace safety, environmental sustainability and workers’ rights and welfare.
He also gave an overview of how the RMG industry had been making vital contributions to the socioeconomic development of Bangladesh, especially in terms of poverty alleviation employment generation for millions of people in the country, women empowerment, increasing girls schooling enrolment, and reducing early marriages, according to BGMEA.
Faruque Hassan highlighted the importance of continued growth of the industry to sustain the achievements made so far in these areas.
Terming the EU as the very important market for Bangladesh’s RMG exports, he highlighted the importance of extension of the specific trade preferences under EU’s GSP scheme to sustain the growth of the industry, thus contributing to the socioeconomic development of Bangladesh.
The BGMEA President also urged the EU to consider waiving the EU's safeguard textile threshold criteria or redesigning the mechanism for Bangladesh in the proposed GSP scheme for 2024-2034 so that Bangladesh could benefit from GSP Plus after the LDC graduation.
Grameen UNIQLO set to close its all stores by June 18
Announcing closure of its operations in Bangladesh by June 18, Grameen UNIQLO has said they have determined that their company has fulfilled a certain role.
"In view of Bangladesh’s significant economic development in recent years, as well as changes to its business environment, we have determined that our company has fulfilled a certain role and has decided to conclude its business activities," said the company in an announcement shared on its website.
The clothing brand regretted that they will close all ten Grameen UNIQLO stores by 18 June in 2023, and the business will be closed down.
“We sincerely thank our customers in Bangladesh for their ongoing support to Grameen UNIQLO over its period of operation,” reads the notice.
In 2010, Fast Retailing Co. Ltd, parent company of Grameen UNIQLO, started the social business together with the Grameen Bank Group with the aim of responding to social issues such as poverty, health and education in Bangladesh through a clothing business.
Since 2013, Grameen UNIQLO has opened stores mainly in the capital of Dhaka and conducted business with the aim of improving the lives of the people of Bangladesh by providing clothing to meet the needs of local daily lives and by creating opportunities for employment in safe environments.
Unilever partners with Orange Corners to support young entrepreneurs
Unilever Bangladesh Ltd. (UBL), the country’s largest fast moving consumer goods companies, has signed an agreement with Orange Corners, an initiative of the Ministry of Foreign Affairs of the Netherlands, to support young entrepreneurs in Bangladesh.
Implemented by YY Ventures, BYLC Ventures, and SAJIDA Foundation, and supported by the DBL Group and Unilever, the Orange Corners program in Bangladesh aims to create opportunities for the next generation of Bangladeshi business leaders by providing them with the necessary tools and resources to succeed, said a press relesae.
With a strong presence in 17 Hubs across Africa and the Middle East, Orange Corners launched its 18th Hub in Bangladesh - its first Asian nation, in early February 2023.
The Orange Corners program in Bangladesh will equip youth, aged between 18 and 35 years, with skills, funding, and resources to build sustainable businesses, particularly those that address the UN’s Sustainable Development Goals; all while the program partners combine their strengths to create an inclusive and equitable entrepreneurship ecosystem in Bangladesh.
The program has a strong focus on inspiring Bangladeshi youth to participate in solving local challenges, and ensuring gender equity across all phases of the program.
Speaking on the partnership, Unilever Bangladesh’s CEO and Managing Director, Zaved Akhtar, said, “ As part of Unilever’s Compass priorities and commitment to youth skills development, we have committed to helping 10 million young people aged between 15 and 24 years to gain employment skills that will help them find meaningful work opportunities and prepare for the future of work. Our collaboration with Orange Corner will allow us to reach a larger group of youth. I believe our combined strengths will create an inclusive and equitable entrepreneurship ecosystem in Bangladesh."
Orange Corners Bangladesh is gearing up for its first hackathon to be held in May 2023. For additional information on the Orange Corners program in Bangladesh, please contact the team through [email protected].