Doing Business In Bangladesh
The population of the country is about 170 million so the local market is quite big as well. Currently Bangladesh is the one of the fastest growing economies in the world and it will be the 28th and 23rd largest economy by 2030 and 2050, respectively, from its 43rd position now on. Bangladesh has achieved a profound average annual GDP growth rate of 7.90 (2019). Bangladesh is still considered as a developing economy. Yet, almost one-third of Bangladesh’s 150m people live in extreme poverty. In the last 10 year, the country has recorded GDP growth rates above 5 percent due to development of microcredit and garment industries. Although three fifths of populations are employed in the agriculture sector, three quarters of exports revenues come from producing ready-made garments. The main business sectors are Ready made Garments (RMG), Leather and leather goods, Jute, Home Textile, IT, Service sector, Poultry, Agro based industry, Banking finance and insurance, Infrastructure development, Power and Energy, Tourism and hotels, Education, Health, Pharmaceuticals, Telecom, Information Technology etc.
Besides, Bangladesh is making substantial efforts to maintain macroeconomic stability, strengthen revenue mobilization, tackle energy and infrastructure deficits, support an expanding financial sector and external trade reforms, and improving existing labor skills. Bangladesh is also working hard on economic governance, urban management, and adapting to climate change.etc.
(Bangladesh is ranked 168 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of Bangladesh improved to 168 in 2019 from 176 in 2018. Ease of Doing Business in Bangladesh averaged 148.58 from 2008 until 2019, reaching an all time high of 178 in 2015 and a record low of 115 in 2008. (source: https://tradingeconomics.com/bangladesh/ease-of-doing-business)
Bangladesh Government is doing all they can to encourage foreign investors; hence the establishment of several export processing zones. If you are a foreigner and intend to come into Bangladesh as a social entrepreneur, then you may be coming into a safer environment because the country has a vibrant social enterprise sector and it is noted as one of the most efficient production/manufacturing hub in the world.
LegalGlobe offer business setting up service along with supporting your business’s legal requirements within your budget. We are most experienced in business setting up, business licensing, company incorporation under RJSC Bangladesh, trademark registration, copyright registration, income tax filing, and commercial litigation, and more about business development in Bangladesh.
10 Business Investment Opportunities in Bangladesh
These are some of the highly profitable and easy to start businesses in Bangladesh. It is important to point that one of the major challenges entrepreneurs face in Bangladesh is power; so if you intend establishing your own business in Bangladesh, then you should create a budget for power generating sets.
- Food Processing Company
- Rice Farming
- Textile and Garment Manufacturing
- Open a Micro – Finance Bank
- Fruits Plantation
- Seafood and Fish Business
- Freight Forwarding Business
- Tea Production Company
- Barbing Salon
- Water Refill Station
Some of Multinational companies in Bangladesh:
- Unilever Bangladesh (FMCG) Click Here
- British American Tobacco Bangladesh (Cigarette) Click Here
- Chevron (Petroleum Industry)
- Grameenphone Ltd (Telecommunication industry) Click Here
- Standard Chartered Bank (Banking Industry) Click Here
- HSBC (Banking Industry) Click Here
- Citi NA (Citi Group, Banking Industry) Click Here
- Nestle Bangladesh (FMCG) Click Here
- Siemens (Electronics) Click Here
- Ericsson (Telecom service industry) Click Here
Top 10 Group of Companies in Bangladesh
ACI the “Advance Chemical Industries” is one of the leading conglomerates in Bangladesh, founded by Mr. M Anis Ud Dawla. Authorized Capital: Taka 500 Million, Paid Up Capital: Taka 482.20 Million, Sales: Taka 47,668 Million [June 2017]
Abul Khair Group is operating their business as an industrial conglomerate in Bangladesh since 1953. Abul Khair Group is mainly based in the commercial capital Chittagong.
The largest and most diversified industrial conglomerates of Bangladesh is BEXIMCO. It is a Multinational Company founded in 1970 by two brothers – Ahmed Sohali Faisur Rahman and ASF Rahman. Since 1970
City Group started their business as a mustard oil company venture under the name City Oil Mills in 1972.
PARTEX started in 1959 with tobacco trading in Bangladesh. It was founded by a well-known industrialist MA Hashem