After two years of sluggish business, local furniture makers saw a slight improvement in sales in June, only to meet with nationwide student protests culminating in a fierce anti-government campaign that ultimately ousted the Awami League regime in early August.
Real estate developers in Bangladesh participating in REHAB Fair-2024 were unsure of the event’s potential outcome until yesterday, when the sparse presence of visitors, let alone potential buyers, gave a reality check of the persistent economic challenges.
Like last year, there is a good demand for electricity-run residential water heaters, locally known as geysers, since the coming of winter this year thanks to changing lifestyles in semi-urban and urban areas and affordable prices, according to industry insiders.
After a four-month lull, US dollar prices made an abrupt jump in December, making imports more expensive and pushing up business costs.
Bangladesh’s synthetic and athletic footwear exports have been growing rapidly, emerging as a bright spot in the country’s export basket, which is heavily dominated by readymade garments.
Bangladesh has long been hungry for foreign direct investments (FDI) but that has also been coupled with the outflow of funds through local companies seeking to generate business abroad.
Investment barriers at the National Board of Revenue (NBR) and the Office of the Registrar of Joint Stock Companies and Firms (RJSC) must be addressed immediately to bolster investor confidence and increase investment growth, according to experts and top business leaders.
The business community had to toe the government line during the Awami League rule of the past 15 years, Mohammed Amirul Haque, managing director of Premier Cement Mills, told The Daily Star in an interview recently.
Kihak Sung, chairman of Youngone Corporation and a pioneer in Bangladesh’s readymade garments (RMG) and textile sectors, has been instrumental in the country’s rise as a major global exporter.
Services rendered by government agencies through a single-window platform to facilitate business remain marred by unscrupulous activities, despite expectations of improvement among entrepreneurs under the interim government.
In an effort to curb stubbornly high inflation, the central bank’s latest interest rate hike has sparked concerns among the business community as they argue that the increased cost of borrowing will strain their existing ventures and dampen future expansion plans.
It was once beyond anyone’s wildest imagination that Bangladesh would become a motorcycle manufacturing hub. Only seven years ago, the country relied on imports to meet 95 percent of its demand for motorbikes.
Luxury apartment sales have dwindled to almost nil ever since the recent political changeover as people have become cautious about spending amid the ensuing economic uncertainty, according to industry insiders.
The recent rise in travellers comes as a relief for the tourism industry in Cox's Bazar, Kuakata and Sylhet as these regions were suffering from low turnout in July, August and September this year.
Empty hotels, unsold fruits at roadside vendors and idle jeeps at stands -- these are the adverse sights in the south-eastern hill districts of Khagrachhari and Rangamati, two popular tourist destinations in Bangladesh, following the recent deadly violence.
The demand for steel in Bangladesh has almost halved over the past two months as most construction works have been halted following the recent political changeover, according to industry people.
Automobile sales have dropped substantially since July this year amidst the economic downturn and political turmoil, denting any hopes of recovering from last year’s slump, according to market insiders.
The fate of six state-owned sugar mills remains uncertain as there has been no upgrading progress since those were closed three and a half years ago, contributing to soaring prices of the sweetener in the local market.
