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Bangladesh losing competitive edge in jute exports

Once-thriving jute industry is seeing a sharp downturn in exports of jute and jute goods as the country is gradually losing its competitive edge in the global market. Even though the government set a target to export jute and jute products worth approximately $93 crore during the period from Ju...

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Investment in private sector declines

Investment in the country’s private sector declined for the third consecutive fiscal year, which is affecting national economy and standing in the way of job creation.     Private sector investment constituted 23.51 percent of the GDP in the just concluded 2023-2024 fiscal year....

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A growing attraction for global food vloggers

Bangladesh’s vibrant street food culture is rapidly gaining global attention, transforming the country into a burgeoning hub for culinary tourism. The rich tapestry of flavors, from spicy fuchka to succulent kebabs, biryani, and other local foods have captivated the taste buds of food enthusia...

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Bangladesh produces foreign fruits worth Tk 12,000cr a year

In a bid to reduce dependency on imports and save foreign exchange, Bangladesh is now producing a wide variety of foreign fruits locally. The country’s land is very fertile for producing exotic fruits like avocado from Mexico, dragon fruit from Thailand and Vietnam, mulberry from China an...

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Apparel exports to non-traditional mkts grow by 6.47pc

The country’s ready-made garment (RMG) sector is witnessing a notable shift with a substantial growth in export earnings from non-traditional markets. According to the latest data available from the Export Promotion Bureau, export earnings from non-traditional markets rose by 6.47 percent...

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Gold jewellery export potential remains untapped

As the government has plans to diversify export basket, gold jewellery exports can become a major earning sector after readymade garments if export-oriented policies are devised, said industry insiders. In reply to a query about why the country lags behind in gold jewellery export, Bangladesh J...

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‘Panchabrihi’ prospects bright

Panchabrihi, a new variety of paddy, can bring about a revolution in the country’s food production.  If adopted for cultivation, rice production may rise manyfold and play a significant role in curbing food crisis.The government is likely to go for a pilot project to cultivate the much-ta...

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Govt support to expand Panchabrihi needed

Bangladesh-born Australian genetic scientist Dr. Abed Chaudhury has made a significant contribution to rice cultivation through his invention of Panchabrihi, a new type of paddy farming method. Despite successful cultivation at his village in Moulvibazar, Dr. Abed faces a major challenge to exp...

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Rail transit deal with India on mutual benefit

Bangladesh is likely to gain an enormous economic benefit by transporting goods and passengers under the new rail transit agreement with India, experts said. Bangladesh and India signed a memorandum of understanding (MoU) on June 22 this year to utilise the rail network of both the countries.&n...

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Leather industry struggling to overcome challenges

Due to lack of Leather Working Group (LWG) certification, Bangladesh imports LWG-certified finished leather worth approximately Tk 1,000 crore annually to meet international standards. But the country collects 10 million to 12 million cowhides locally every year, of which almost half are collec...

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Fair price eludes rawhide traders

Even though the country saw a surplus supply of sacrificial animals this year with its prices significantly higher than past years, the low prices of rawhide frustrated traders.This year 10,408,918 animals have been sacrificed across the country. Of them, 4,766,859 were cows, 112,918 buffaloes, 5,05...

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12 abandoned aircraft to go under hammer soon

Civil Aviation Authority of Bangladesh (CAAB) has almost completed all formalities to auction off 12 aircraft lying abandoned at Hazrat Shahjalal International Airport (HSIA) for more than 10 years, said officials concerned. At the beginning of the current month, the authority has seized these ...

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Scope for legalising black money with 15pc tax draws flak

Economists and business organisations have criticised the government move to allow individuals to legalise their undeclared wealth by paying 15 percent tax.They also argue that such an opportunity may result in economic inequalities and disincentive compliance among honest taxpayers. In his bud...

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31,500 workers stranded as uncertainty looms large

The recent decision taken by the Malaysian government to close its doors to Bangladeshi workers from June 1 this year has caused a crisis of air tickets.As a result, a good number of Malaysia-bound workers are facing uncertainty over going to Malaysia. Thousands of workers thronged Hazrat Shahjalal ...

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Plans to purne import spending

Following the ongoing economic crisis, the government plans to reduce expenditure on import of goods and services in the next fiscal   year aimed at boosting foreign exchange reserves. In the recent economic coordination council meeting, the government has also planned to revise down the g...

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Export income projections face uncertainty

The country’s major income sector is exports, but due to global uncertainty, authorities concerned are fearing that export growth may not be achieved in the upcoming fiscal year. However, growth could rebound if inflation eases in key global markets.The main destinations of the country&rs...

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‘Whitening black money won’t benefit economy’

The scope of whitening black money will not bring much benefits to the country’s economy as black money holders will only take advantage of this facility for the time being, experts have said. Rather it will help black money holders whiten their black money with payment of minimum tax, th...

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‘Fixing of rawhide prices can promote industry’

Ensuring fixed prices for rawhide could draw increased attention from businesses in the sector. At the same time, creating an environmentally sustainable industry would help the leather sector to secure a larger share of the global market.Due to environmental threats, the country gradually lost...

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Travellers feel the pinch

People of the country who go abroad for various purposes are worried over the recent increase in the exchange rate of the US dollar. As per the announcement made by the central bank on May 8, the dollar exchange rate has jumped to Tk 117 from its previous level of Tk 110.A number of people who ...

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Adventure tourism prospects bright

Bangladesh, with its diverse landscapes including mountains, seas, lakes, and waterfalls, holds immense potential for adventure tourism. Despite the abundance of natural blessings, it has not fully exploited the potential to create adventure tourism destinations. While Cox’s Bazar bo...