Doing Business in Bangladesh

In the last one and a half decade, the economy of Bangladesh has grown at a sustained rate of over 6 per cent per annum. With a GDP of 120 billion US dollars, Bangladesh has the second largest economy in South Asia. Bangladesh now produces high-value added, technology-intensive and world class pharmaceuticals products, chinaware, furniture and, of late, ocean-going vessels along with the traditional apparel products. Bangladesh is now the second largest garments exporter in the world. Special priority has been attached to digital development and Bangladesh is fast coming up in the ICT sector as well as export of software and related services.

Today’s economy of Bangladesh is a result of a combination of prudent policies of the Government and a dynamic private sector driven by hardworking and innovative entrepreneurs, and the zealous youth work force. Remittance from Bangladesh diaspora at the tune of US$ 14 billion per annum has contributed significantly to Bangladesh’s economic success. Bangladesh is now on a high-trajectory of economic growth and social development.

The strategic location of the country cusped between South and Southeast Asia, coupled with the competitive, skilled and easily trainable labour force, it is fast emerging as a favoured production and distribution hub in the region. More significantly, not only is the cost of production competitive in Bangladesh, the exports of Bangladesh also enjoy certain tariff advantage in major export markets making Bangladesh an attractive destination for industrial investment.

Thai businesspersons may take advantage of the price-competitiveness of the exportable products of Bangladesh and Thai entrepreneurs may avail the excellent investment package offered by Bangladesh and set up labor intensive industries in Bangladesh.

In this regard, the websites of the relevant Ministries/organizations including Ministry of Commerce, Ministry of Industries, Bangladesh Bank, National Board of Revenue, Export Promotion Bureau, Board of Investment and Bangladesh Export Processing Zones Authority may be useful for the Thai businesspersons and entrepreneurs.