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Economy

Government wants to transform Bangladesh from a labor-dependent economy to a knowledge and innovation-dependent economy: Science and Technology Minister Economy

Government wants to transform Bangladesh from a labor-dependent economy to a knowledge and innovation-dependent economy: Science and Technology Minister

Science and Technology and Posts, Telecommunications and Information Technology Minister Fakir Mahbub Anam said the government wants to transform Bangladesh from a labor-dependent economy to a knowledge and innovation-dependent economy. To that end, work is underway on the development of high-tech sectors including artificial intelligence, advanced chip design, and bio-electronics.

Ship recycling industry plays an important role in Bangladesh's economy: Khondaker Abdul Muktadir Economy

Ship recycling industry plays an important role in Bangladesh's economy: Khondaker Abdul Muktadir

Commerce, Industry, and Textiles and Jute Minister Khondaker Abdul Muktadir has said that various initiatives have been taken with the assistance of the Japan International Cooperation Agency (JICA) to make Bangladesh's ship recycling industry safe, modern, and environmentally friendly, and to connect small and medium-sized industrial enterprises with the international supply chain.

Bangladeshi food products' potential in European market is increasing Economy
Ambassador of UNIDEX •

Bangladeshi food products' potential in European market is increasing

Forqan Haider Chowdhury, Ambassador and Advisor of United Dutch Exporters (UNIDEX), a Netherlands-based international food importer and distributor, believes that opportunities for wider export of Bangladeshi food products to the European market are emerging. This Belgian of Bangladeshi origin thinks that if international standards are ensured, long-term business relationships are built, and regular market connections are increased, the demand for Bangladeshi products in the European market will increase further. He informed that the current financial value of this market is more than hundreds of crores of taka per year.

TCB is taking initiatives to modernize AI-based market analysis and procurement system Economy

TCB is taking initiatives to modernize AI-based market analysis and procurement system

The Trading Corporation of Bangladesh (TCB) is taking initiatives to make the government procurement system more efficient, transparent, and competitive by using artificial intelligence (AI)-based market analysis and increasing the use of technology in the government procurement process. At the same time, the organization has also announced initiatives to make cost estimates more realistic, increase the number of participants in tenders, and integrate TCB's smart family card with other government service cards.

Bangladesh Bank eases rules for foreign-owned firms to take foreign loans Economy

Bangladesh Bank eases rules for foreign-owned firms to take foreign loans

Bangladesh Bank has further simplified the rules for 100% foreign-owned industrial enterprises operating in Bangladesh to obtain loans from abroad. Under the new policy, these enterprises will be able to take short, medium, and long-term foreign loans from parent companies, associate firms, or foreign shareholders under relatively easier conditions. On Tuesday (July 15), Bangladesh Bank issued a directive in this regard. The new policy will apply to 100% foreign-owned industrial enterprises operating within the country and in Export Processing Zones (EPZs), Private EPZs (PEPZs), Economic Zones (EZs), and Hi-Tech Parks.