Daily Entrepreneurship- Bangladesh (5 April 2019)

Fix regulatory uncertainty to boost investment

Regulatory uncertainty has become a major bottleneck for investment in Bangladesh, where private sector investments remain weak, said the World Bank in its latest report.

At present, foreign direct investment is less than 1 percent of the GDP.

Businesses, particularly the medium-sized ones, suffer from the inconsistencies in policy implementation, said the Washington based-multilateral lender in the Spring 2019 edition of the Bangladesh Development Update.

The report, which puts special focus on regulatory predictability, was unveiled yesterday at the WB’s office in Dhaka.

“Regulatory uncertainty makes property rights insecure, which is a deterrent to investment,” the report said.

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Bring more good firms to stocks to entice investors

Immediate steps should be taken to bring more well-performing companies to the capital market so that general investors can enrich their portfolio with better stocks, analysts said yesterday.

The stock market will be benefited from the inclusion of more good stocks, they said at the opening ceremony of Bangladesh Capital Market Expo-2019 at Bangladesh Shilpakala Academy.

Online financial news portal arthosuchak.com organised the three-day exposition.

“The number of well-performing stocks is very limited in our stock market. So, a special initiative is needed to bring in such companies,” said Mashiur Rahman, prime minister’s economic affairs adviser.

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Prime Minister opens, lays foundation stones of 24 economic zones

Prime Minister Sheikh Hasina inaugurated and laid foundation stones of 65 uplift schemes including 24 economic zones on Wednesday.

She opened and laid foundation stones of the development projects by unveiling plaques through a video conferencing from her official residence Ganabhaban in the capital this morning.

The inauguration of the development projects will open a new horizon in industrialisation and employment for country’s overall development, reports BSS.

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‘Bangladesh needs comprehensive e-commerce strategy’

Bangladesh has laid an ‘essential foundation’ for a technology-driven and skill-based digital economy but it still needs a comprehensive e-commerce strategy and improved delivery logistics, says a report.

A Rapid e-Trade Readiness Assessment, completed by UNCTAD at the request of the Bangladesh government, pinpoints improvements in telecommunications infrastructure, trade logistics, payment solutions, laws and regulations, skills development, and financing, that can accelerate e-commerce and spread the benefits throughout the economy.

The assessment of Bangladesh, funded by the Federal Ministry of Economic Cooperation and Development (BMZ) of Germany,  was presented to government representatives during an event on the opening day of UNCTAD’s e-Commerce Week 2019, says a press release.

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BSEC Chairman: TIN not mandatory for small investors

Chairman of the Bangladesh Securities and Exchange Commission (BSEC) M Khairul Hossain on Thursday cleared the confusion over having tax identification number by the small investors, saying that it was not mandatory.

“The government has not made any such decision,” he announced, urging all not to spread any rumors.

He came up with the clarification at the inaugural ceremony of a three-day capital market expo at the Shilpakala Academy in Dhaka.

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Rubana Huq: Rebuilding image of RMG sector my top priority

Rubana Huq is leading Sammilita-Forum panel in BGMEA biennial election for 2019-22 slated for April 6. If Sammilita-Forum wins with majority, Rubana will be leading the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) as its president for the next two years.

What are the challenges facing the industry and what will be your top priority if you are elected BGMEA president?  

Bangladesh’s apparel industry is facing various challenges and it is going through a transitional time. Among the main challenges are rebuilding image of the apparel sector, setting prices of products, rationalizing the wages and developing skills.

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Govt earnings from DSE up 0.86pc in Mar

The government revenue earnings from the Dhaka Stock Exchange (DSE) inched up 0.86 per cent month-on-month in March despite trading activities fell sharply.

Market analysts said higher shares sale by sponsor-directors during the month kept the government earnings from the premier bourse afloat.

The daily average turnover on the DSE also came down to Tk 4.84 billion in March, which was Tk 7.65 billion in February, 2019, the DSE data shows.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell 220 points or 3.85 per cent in March to close the month at 5,491 points.

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