Jagaran Chakma

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.

Bitumen prices in international markets have gone up by around 24 per cent this month, for which upcoming road construction and repair costs are expected to rise since Bangladesh is very much dependent on imports.

Five banks and non-bank financial institutions are going to provide a syndicated loan of Tk 167 crore for the country’s first electric vehicle (EV) manufacturing plant of Bangladesh Auto Industries Ltd (BAIL).

Inflation in Bangladesh increased for the third consecutive month in September as prices of both food and non-food items are showing upward movement, hurting the low-income people.

Households in Bangladesh have historically tended to use earthenware, china, stainless steel and even pewter for dinnerware. But once its use came to be known, melamine products quickly gained popularity, especially in rural and semi-urban areas.

Steel prices in Bangladesh have been on an upward curve as millers hiked the rates in the wake of continuous spiralling of scrap metals in the international market owing to a pickup in demand and constrained supplies.

Pharmaceuticals shipment from Bangladesh grew 33 per cent year-on-year in the first quarter of the current fiscal year on the back of anti-coronavirus drugs and cash incentives of the government.

Exports of leather and leather products from Bangladesh exceeded the pre-pandemic level in the first quarter of the current fiscal year as Western economies reopened following extended coronavirus pandemic-induced closures, pushing up demand.

A huge demand for coal in China has had a butterfly effect that may reach Bangladesh’s construction, garment, and power generation industries as the highly-required fossil fuel is becoming increasingly expensive in global markets.

Bangladesh will cut its over-reliance on imported vehicles, switch to electric modes of transportation and become a regional hub for automobile manufacturing by 2030 as the government unveiled the country’s first-ever policy to develop the sector.  

Over a year past shutting down state-run jute mills, the government has made little progress in modernising and reopening them, up until now having merely selected some potential lessee proposals for ministry-level vetting.

The price of aluminium products has increased significantly over the past year due to the rising cost of raw materials at the international level, according to industry insiders.

It has been six months since farmers have harvested potato and wheat. However, if anyone requests for data about the quantity of the crops produced and their acreage in the latest harvest from the Bangladesh Bureau of Statistics (BBS), the state agency responsible for generating data nationally, they will be disappointed as no information is available.

With investment stagnating at a dismal level and foreign direct investment hovering around $2.5 billion annually, the government is going to hold a summit in a bid to attract foreign investors and break the current stalemate.