Bangladesh's image will shine out amidst the global community on the back of the United Nations recommendation for its status graduation from a least-developed country to a developing nation. But there will be some challenges for the economy after it achieves the new status, said experts. So, the country should give its all-out efforts to tackle the challenges during the
A brief look at the auto industry in Bangladesh
Photo: Akif Hamid
The rapid growth of our economy and people s purchasing power has seen a rise in demand for personal transport. People are buying more cars and motorcycles than ever before, being able to pay their way through the duty inflated prices. To support this higher demand, more and more transport manufacturers have set up or setting up plants for local production. We have analysed both industries to see their current state and what the future holds for them.
Starting with four wheels, the car market in Bangladesh is small compared to many of our neighboring countries. Bangladesh s automobile density the number of vehicles per unit length of the roadway is as low as 0.5 percent, compared to the global average of 12 percent. Data from Bangladesh Road Transport Authority (BRTA) shows that there are a total of 4,471,625 registered vehicles in the country, of which only 370,519 are registered as Private Passenger Car foll
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BD, India can offer tough race for other competitors in global textile business: Shahriar The New Nation
Business Desk :
State Minister for Foreign Affairs M Shahriar Alam on Saturday said Bangladesh and India can offer a tough race for other competitors in global textile business considering India as one of the top cotton exporting countries. As a historic all-weather friend, India as a cotton exporting country should be on top of our lists for a win-win situation for both the countries, he said.
The State Minister was addressing the second Bangladesh-India Cotton Fest 2020 at a city hotel, reports UNB.
Prime Minister s Adviser Salman F Rahman spoke at the event as the chief guest.
President of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Sheikh Fazle Fahim, President of BTMA Mohammad Ali Khokon , President of IBCCI Abdul Matlub Ahmad, President of ICAL (Indian Cotton Association Ltd) Mahesh Sharda, and President of BCA (Bangladesh Cotton Association) Sultan Riaz Chowdhury were present at the event.
Shahriar said over the last ten fiscal years, under the leadership of Prime Minister Sheikh Hasina, cotton production has remarkably increased from 70,000 bales to 1,77,887 bales.
However, he said, domestic production is still inadequate compared to yearly demand of around eight million bales.