Jagaran Chakma

The electronics and home appliance sector in Bangladesh is facing one of its most challenging periods in recent years due to inflation, currency devaluation and declining consumer spending on non-essential items.

Mongla port, the second largest seaport in Bangladesh, witnessed a sharp  decline in container handling throughout the first seven months of the  current fiscal year (FY), with growing economic constraints eroding  business activities in the country.

If the macroeconomic stress does not ease soon, these small ventures, which contribute 32 percent of the country's GDP and employ 85 percent of the industrial workforce, face closure.

The business world often thrives on boldness, but in Syed Manzur Elahi, Bangladesh found something more: a quiet fortitude, a moral compass, and an entrepreneurial mind that always seeks to build.

Syed Manzur Elahi was one of Bangladesh’s most distinguished industrialists and entrepreneurs.

Bangladesh requires around 100,000 new apartments every year. Despite having the capacity to meet this demand, realtors can only supply 8 percent of the required units, leaving a substantial gap.

Although the interim government is focusing on reforms and new measures, corruption remains a major concern for businesses. Instead of waning, demands for undue payments by public officials have increased in some cases, said a top industrialist.

Bangladesh’s investment-to-GDP ratio declined by 0.25 percentage points to 30.70 percent in the fiscal year (FY) 2023-24, according to official data, signalling a potential slowdown in future economic growth.

Local air conditioner (AC) manufacturers in Bangladesh are pushing for “fair” government procurement policies, arguing that existing rules favour foreign brands despite local companies meeting global standards.

Over the last several years, Ahsan, a rickshaw puller in his 50s, has been eagerly waiting for relief from the high prices of food and other essentials. Days and months have passed, but his pursuit of a better living by escaping the curse of elevated inflation has remained a distant dream. 

The inflow of foreign direct investment (FDI) into Bangladesh is facing critical challenges as a plethora of factors have caused it to stagnate to a mere 0.5 percent of the country’s gross domestic product in recent years.

Clay bricks cost Tk 12 per piece. A hollow block, which is four times larger than a clay brick, is priced at Tk 50.

Non-cotton garments are particularly lucrative, fetching higher prices than traditional cottonwear for having better flexibility, durability

Interestingly, the premium motorcycle segment bucked the trend, showing significant growth in 2024.

Although Bangladesh became the first country in the world to announce a complete ban on the use of polythene bags in 2002, strict enforcement of the much-lauded initiative has only started taking shape recently.

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.