Jagaran Chakma

The construction materials industry of Bangladesh has registered massive growth over the past decade as some mega projects are providing ample opportunity for capacity building and ensuring world-class products, according to industry insiders.

The growth of the country’s packaging industry is in a slow lane due to the persisting economic uncertainty and the impacts of the price hike of the US dollar, gas and electricity, according to industry people. 

Bangladesh Investment Development Authority (Bida) from next month will start checking up on the progress made by 17 factories in implementing a correction action plan (CAP) on ensuring safe work environments. 

Bangladesh’s major cement manufacturers are increasingly shifting to eco-friendly production processes with a view to cutting energy consumption and pollution and ensuring the sustainability of their business in a world that is getting more worried about industries’ carbon footprint.   

The market for corrugated iron (CI) sheets is expanding in Bangladesh thanks to the availability of more durable and coloured versions of the product, according to industry insiders.

Although Bangladesh is laying the groundwork for gradually adopting electric vehicles (EVs), sales are yet to gain pace because of higher prices, further inflated by an elevated level of import duty and the cost of registration, according to market players.

The market for polyurethane foam is growing in Bangladesh as the material is being increasingly used for making upholstered furniture as well as packaging and insulation, according to industry insiders.

July’s development spending was the highest in four years on the back of enthusiastic fund utilisation by the local government division -- whose expenditure hit a record high for the first month of a fiscal year.

One of the development projects undertaken on Chinese loans has been completed while eight others are being implemented in full swing following a prolonged hiatus for the pandemic, said relevant officials and Economic Relations Division (ERD). 

Business leaders and experts have lauded one of the four packages of a universal pension scheme (UPS) meant for employees of private companies, saying it would enhance post-retirement financial security and benefit employers too. 

Big pharmaceutical companies in Bangladesh are gradually taking hold of the country’s growing market for herbal medicines as people are opting for higher quality natural remedies with recognisable brand value.

Overall sales of flats declined nearly 17 per cent in the last fiscal year of 2022-23 owing to economic uncertainties and a rise in prices of raw materials, according to realtors. 

A local company is providing prefabricated steel structures for the construction of a rail bridge in Bangladesh as the Japanese implementing agencies have granted approval in this regard.

Pragati Industries Limited (PIL), a state-run automobile assembler of Bangladesh, is going to start assembling sedans of foreign make by December this year, according to company officials.

Makers of active pharmaceutical ingredients (API) at the API Industrial Park in Gazaria of Munshiganj have fallen into uncertainty as bureaucratic complexities and the lack of gas connections are preventing them from starting production.

The price of mild steel (MS) rod of grade 60 has gone down slightly since Thursday thanks to a decline in demand due to a slowdown in construction and physical infrastructure development works for the monsoon rains. 

The cable industry in Bangladesh is experiencing an impressive growth trajectory, with a projected annual growth of at least 12 percent over the next two decades.

A vessel owner in Bangladesh is seeking to run a 10-day cruise from Dhaka to Kolkata. 

Bangladesh has seen rapid growth in foreign direct investment (FDI) from China ever since the country joined its Belt and Road Initiative (BRI) in 2016, according to a report by the Chinese embassy in Dhaka.

Bangladesh bagged $447.43 million by exporting headgear products such as hats and caps in the last financial year, a positive development for a country that relies heavily on a handful of products to earn foreign currencies.