Daily Entrepreneurship- Bangladesh (7 April 2019)

Rubana climbs BGMEA summit

Rubana Huq, managing director of Mohammadi Group, is set to be the next president of the BGMEA after her panel managed a clean sweep at the biennial election — becoming the first woman to lead the garment sector’s apex trade body.

Some 1,492 out of the total 1,956 voters yesterday cast their votes in the election to choose the leaders of the Bangladesh Garment Manufacturers and Exporters Association for the next two years.

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Addressing the menace of NPLs

It is heartening to learn that the newly elected government is keen to address the menace of non-performing loans (NPL) in Bangladesh. This is appropriate because restoring the financial health of the banking sector is critical to securing the GDP growth and poverty reduction targets of the Perspective Plan 2041. The main challenge is to ensure that the policy reform is well-designed to comprehensively address the NPL problem and not seek quick fixes that simply postpones and magnifies the resolution. This article seeks to provide some inputs to the government’s efforts to get a satisfactory NPL reform programme.

What is NPL: Banks operate as financial intermediaries. Bank owners put up a minimally required amount as equity or capital that then allows them to mobilise deposits which are loaned out. Banks offer depositors a return on their deposits (average deposit rate) and charge borrowers a loan rate (average lending rate).

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Visitors impressed with array of products

Visitors are impressed with a large number of products showcasing at the National Industrial Fair-2019 arranged to promote locally manufactured industrial goods and lure foreign investors.  

Exhibitors filled their stalls with products of various designs and colours to attract people.

Some 250 organisations comprising small, medium and large industries are participating in the nine-day show, which kicked off last Sunday at the Bangabandhu International Conference Center (BICC), with 320 stalls.

Different types of businesses such as jute products, cookware, light engineering, packaging, ship-building, plastics, herbals, leather and leather goods, and handicrafts are taking part.

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Bangladesh needs fruitful facilities in global trade: Tipu Munshi

Commerce Minister Tipu Munshi, who is now in Geneva, on Saturday said that Bangladesh needs fruitful facilities in global trade to graduate it into a developing country by 2024 alongside successfully attaining the targets of SDGs.

“Bangladesh is moving forward successfully in global trade ……global trade facilities will be very helpful to attain the targets of SDGs and becoming a developing country,” he said.

The commerce minister said this while addressing the last meeting of the Bangladesh Trade Policy Review (TPR) committee in Geneva yesterday, said a ministry press release.

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Repto to represent Bangladesh in Startup World Cup Grand Finale

Education platform for learning, earning and sharing knowledge Repto will represent Bangladesh in the Startup World Cup 2019 Grand Finale scheduled to be held on May 17 at Silicon Valley.

Bangladesh qualified for the finale after winning the regional finale of the competition in Bangladesh. The winner will win $1.0 million investment prize, said a press release.

The regional round, “eGeneration presents Startup World Cup 2019, Bangladesh”, sponsored by Fenox Venture Capital, was organised for the first time in the country.[More Info…]