I am pleased to warmly welcome you to our chamber’s website.
Bangladesh has been experiencing rapid economic development over the last two and a half decades. Detailed statistics backing this claim can be found in the relevant section of this website. Bangladesh currency exchange rate against US Dollar has remained stable for last many years when during the same period many other countries in the region had seen wild fluctuation in their respective exchange rates. It is particularly commendable that this stable exchange rate has been maintained despite an impressive, and some time explosive, growth in the country’s foreign trade. By large Bangladesh has had a stable and functioning democratic political system, with change of government or renewal of the term of an existing government taking place thru a democratic election process at the end of a 5 years election cycle. There is hardly any significant difference in the social and economic development philosophy of the major political parties of the country which allows continuity and certainty in the policies of each government that comes to power thru the election process every 5 years. Both local and foreign investors love this stability in the political scene, in the currency exchange rate and in the country’s governance and policies.
Bangladesh is a geographically compact country of about only 140,000 sq kilo meters but is endowed with an enormous and renewable resource consisting of 160 million resilient, disciplined, good natured and creative manpower. More than 50% of this population is below the age of 30. Bangladesh is therefore both a good consumer/capital goods market and also is a good place to manufacture things at reasonable cost and export the produce to the world markets. Efficient productivity of the Bangladeshi labor force backed by comparatively stable and competitive wages has allowed Bangladesh to become 2nd biggest garment exporter of the world within a short period with current garment export surpassing U$30 billion mark. Projections are made that garments export will hit U$50 billion mark in an equally quick period of time.
Like all other developing countries of Asia, Africa and Latin America Bangladesh also has its unique challenges in the fields of infrastructure, relatively low levels of industrialization, low domestic capital formation, nascent capital market. Governance and policy implementation has scope of improvement. But if we look at the other side of the coin, all these challenges offer unique investment opportunities in the areas of Industry, Infrastructure, Health services, Higher education, Technological Research and Development, IT, regional connectivity and many more sectors. Investor friendly government policies welcome investment in all of these and other areas for both local and foreign investors. Government has taken bold steps to heavily invest in infrastructure development with country’s own financial resources (Bangladesh Foreign Exchange Reserve hovers consistently over U$30 billion mark) and approved large number of projects to augment power generation by almost three folds, build roads, bridges and railway connectivity, develop new ports and facilities to support energy raw material import (Coal and LNG) and import growing needs of industrial raw materials and capital/consumer goods.
Bangladesh Metropolitan Chamber of Commerce, Hong Kong expects to act as a facilitator for regional/global investors having interest in Bangladesh and for Bangladeshi business houses looking for overseas markets for their products or looking for foreign Joint Venture partners for local projects. It also expects to be a platform for the Bangladeshi business community in Hong Kong to develop their business with the world. It also expects to represent the interests of Bangladesh business community in various bilateral and multilateral business forums in Hong Kong and in the international arena.
Our chambers journey has just started. Road ahead is long and exciting. With support of the Bangladeshi business community in Hong Kong and the existing and future members of our chamber we expect to undertake this journey and prove to be an effective and useful organization dedicated to serve the interest of Bangladesh, Bangladeshi business houses at home and abroad and all foreign business entities having interest to invest in or to do business with Bangladesh.
Our website is still evolving and we welcome suggestions from you as to what information you will like us to present to you thru our website to make your experience of visiting our website more rewarding for you. Please join us and support us to achieve success in serving your best business interest.