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The US weekly journal Newsweek has highlighted the story of Bangladesh’s spectacular financial development and its achievement in eliminating poverty in its newest subject.
The New York-based journal mentioned the nation is getting into into its second half-century in robust form because it turns into one of many fastest-growing economies within the Asia-Pacific area beneath Prime Minister Sheikh Hasina who has overseen “a speedy transformation of the home economic system” over greater than a decade.
For all newest information, observe The Day by day Star’s Google Information channel. The enlargement of industries led by home entrepreneurs has paved the way in which for Bangladesh to start its journey to changing into an industrial nation by lowering its excessive reliance on agriculture.
Business’s contribution to Bangladesh’s economic system grew from lower than 20 per cent to 33.5 per cent between 2010 and 2018, mentioned Newsweek
Business’s contribution to Bangladesh’s economic system grew from lower than 20 per cent to greater than a 3rd (33.5 per cent) between 2010 and 2018, whereas manufacturing’s contribution to gross home product has doubled since 1980, with exports rising 20-fold because the Nineties, mentioned Newsweek’s content material from The Worldwide Investor part.
The journal additionally featured a number of excellent enterprise homes, together with Transcom Group, that drive the expansion of the economic system.
Transcom, relaunched in 1973 by its Founder Chairman Latifur Rahman, is a fast-growing conglomerate in Bangladesh and is lively in diversified sectors of the economic system, together with healthcare, fast-moving shopper items, meals and beverage, media, electronics, logistics, and distribution.
Latifur Rahman gained the Oslo Enterprise for Peace Award in 2012 for sustaining his dedication to social duty and moral values.
“That’s the place our power comes from, and that is the legacy our chairman left for us,” mentioned Transcom Group Chief Government Officer Simeen Rahman.
“Together with these values, we now have a transparent path of being formidable gamers in each trade. And naturally, high quality mustn’t ever be compromised.”
As we speak, Transcom has the franchise of Pepsi, which is a dominant participant within the beverage enterprise in Bangladesh.
The group additionally producers home equipment and white items for Whirlpool and cosmetics for L’Oreal and acts because the native associate for others, together with Frito-Lays, KFC, Pizza Hut, Abbott and Mars.
Its concern Eskayef Prescription drugs Ltd has been the main pressure in Bangladesh’s pharmaceutical market.
It began manufacturing life-saving insulin vials for Novo Nordisk in 2012, 4 years after it turned the distributor of the foremost multinational pharmaceutical firm.
In 2017, Eskayef bought into an settlement with Novo Nordisk to supply its trendy penfill insulin and have become the primary firm on the earth to take action as a producing associate of the Danish multinational firm.
“As for world requirements, it is very important word that Eskayef Prescription drugs has obtained all the mandatory worldwide regulatory approvals from probably the most stringent our bodies on the earth,” Simeen Rahman mentioned.
“Eskayef’s high quality is true up there with worldwide requirements while implementing world greatest practices. Our requirements are similar to any producer within the US or Europe. We have now the identical accreditations and high quality requirements.”
After the outbreak of Covid-19 in Bangladesh in early 2020, Eskayef launched the primary generic on the earth for the three simplest anti-viral medicine shortly after the emergency approvals by world regulators. It additionally exported the medicine to 49 nations and supported sufferers everywhere in the globe.
Digital improvement and synthetic intelligence are essential elements of the enterprise technique of Transcom, which employs round 20,000 individuals. The group goals to attain exponential development in its present industries, broaden its footprint globally by means of Eskayef Prescription drugs and deal with expertise as the massive development space.
Amongst others, Newsweek additionally featured enterprise homes comparable to Harmony Group, a building and actual property main, Envoy Group, one of many prime garment exporters in Bangladesh, and United Group, which operates within the energy, actual property and healthcare sectors.
It additionally highlighted Confidence Group that has enterprise pursuits in cement, concrete ready-mix, energy and telecommunication, Sikder Group, which runs companies within the infrastructure, energy and insurance coverage sectors, Hosaf Group, which has companies in LED lights and electrical metres, and Multimode Group, which is engaged within the seeds, livestock, silk and textile sectors.
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