Jagaran Chakma

Sales of sport utility vehicles (SUV) and luxury cars grew at an annual average of 39 per cent in Bangladesh in the past decade as more people, armed with rising income, are buying automobiles in higher numbers.

Akij Ceramics has entered the tableware business to grab a share of the domestic market and diversify the range of products it exports.

The demand for commercial vehicles in Bangladesh has increased as economic activities in the country boomed soon after a prolonged nationwide lockdown aimed at curbing the spread of Covid-19 ended earlier this year.

Banks and non-bank financial institutions (NBFIs) perceive the potential business of mortgage loans in the housing and real estate sector to be fast growing thanks to an expansion of the affluent class and people’s increasing spending capacity.

Bangladesh has received investment proposals totaling $21.17 billion since the coronavirus pandemic struck the world nearly two years ago, said a top official. 

Fair Technology Limited (FTL), a subsidiary of Fair Group, plans to introduce locally made Hyundai cars in Bangladesh by the end of 2022.

Realtors in Bangladesh have sold around 10,000 flats so far this year as customers shrugged off pandemic fallout and the government keeps extending the amnesty to the investment of untaxed money in the housing sector.

The Karnaphuli tunnel, South Asia’s first under-river tunnel, is set to be delayed by at least six more months.

The finance ministry has warned relevant government bodies that new projects will not be included in the revised annual development programme (RADP) for the current fiscal year if their details are not sent to the Planning Commission by January 2022.

Indian tyre maker CEAT is unlikely to follow through on its plans to build a manufacturing unit in Bangladesh, apparently at least until the economy fully recovers from the coronavirus pandemic-induced shocks.

The government is set to remove all complexities for the registration and operation of electric vehicles in Bangladesh as the Road Transport and Bridges Ministry has prepared a guideline in this regard.

Even though the affluent middle-class in Bangladesh is growing rapidly and increasing its purchasing power, the demand for passenger cars are still low compared to India and Thailand. 

Timely adoption of regulatory changes and policy reforms will help attract more foreign direct investment (FDI) and access foreign finances, said Nuzhat Anwar, acting country manager for Bangladesh, Bhutan and Nepal of the International Finance Corporation (IFC).

A cocktail of challenges and opportunities await Bangladesh as it enters the developing nation bracket in 2026 after the United Nations General Assembly on November 24 gave its graduation the final approval.

Most of the listed rod and cement producers in Bangladesh posted higher profits in the July to September period riding on higher sales as economic activities picked up thanks to the improving coronavirus situation.

Synthetic footwear and sports shoe exports from Bangladesh registered an average annual growth rate of about 20 per cent in the past five years thanks to increased demand from global brands.

Rod prices in Bangladesh hit Tk 80,700 per tonne because of the persistent high prices of raw materials globally, supply constraints, and the latest hike in fuel prices locally, official figures showed on Friday.

The construction cost in Bangladesh has gone up by 20 per cent in the past year because of the surge in the price of raw materials, which could affect the implementation of development projects, said industry people. 

Sales of medical devices in Bangladesh could be as high as Tk 20,000 crore but local manufacturers can meet only 4 per cent of the annual demand while the rest is imported.

Bangladesh’s largest industrial enclave, Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram, is finally going to witness the commissioning of its maiden factory this month.