Profile of country's top business entity: Beximco Group

Beximco Group is a multinational conglomerate holding company headquartered in Dhaka, Bangladesh. The company is considered the top business entity on Bangladesh. It operates with the slogan - Taking Bangladesh to the world.

In the last three decades, Beximco Group grew strength to strength. In 2005, Beximco Pharma became the first Bangladeshi company to list on the Alternative Investment Market of the London Stock Exchange. It became the first Bangladeshi pharmaceutical company to commence export of pharmaceutical products to the USA in 2016.

The multinational conglomerate has business wings in textiles, marine food & commodities trading, pharmaceuticals, real estate, cotton and polyester, hospitality, ICT and ceramics. The pharmaceuticals wing of the company, Beximco Pharma, is now one of the largest exporters of medicines and won National Export Trophy (Gold) a record five times.

Salman F Rahman the vice chairman of Beximco Group

This dynamic company was founded in the 1970’s by two brothers – Ahmed Sohail Fasiur Rahman and Salman Fazlur Rahman. It started as a commodities trading company. Now it has become a diversified group with presence in almost all industry sectors. Salman F Rahman is serving as a Private Sector Development Affairs Adviser to Prime Minister and Bangladesh Awami League President Sheikh Hasina.

Financially the company is very stable. In 2010, the company acquired stakes in several major Bangladeshi businesses, including IFIC Bank, GMG Airlines, and Unique Hotels and Resorts.

High officials of Beximco Group

Recently Beximco Power initiated a joint venture to develop a 200 MW solar power plant in Gaibandha. Teesta Solar Limited. and China’s TBEA Xinjiang Sunoasis Co signed a power purchase agreement with Power Development Board for this matter. Under the agreement, the PDB will purchase electricity from TSL’s plant for 20 years at the tariff of 15 US cents per kilowatt hour. Beximco Power hold 80 % share of the venture. Renewable energy like solar power is considered holding the key to the future.

Information source:
Beximco Group's website - https://www.beximco.com/

Assignment point's report on Beximco Group - http://www.assignmentpoint.com/science/textile/safety-environment-complance-in-beximco-texitile-limited.html

How private companies like Beximco Group, Pran Group, Bashundhara Group are helping the economy grow?

Bangladesh is regarded as a rapidly developing country. Bangladesh managed a vast progress on the economic side. The GDP growth is increasing every year and in 2013-14 fiscal years, it was close to 6%, which is more than its neighboring countries, India, Nepal and Pakistan.

As a country which has the potential to become one of the most influential countries in terms of economy, a lot of private companies are giving inputs to the overall values. Top private companies like Beximco Group, Pran Group, Bashundhara Group are pretty much the backbone of the economic growth of Bangladesh. These groups were mostly founded in the 1980s. Bangladesh soon saw the speedy rise of these groups which launched a lot of products such as dry foods, cement, LP gas, ceramics, and pharmaceutical products.

These groups have mostly ensured the consistency in the economy by maintaining a strong export quality, as they serve more than 100 countries all over the world with their products. These are top notch products, which are especially managed by the experts. For instance, Beximco Pharma is listed on the London stock exchange, which is a big achievement for the company and the country as well. It was formed in 1972. This helps the economy to grow under foreign currency and ensures its maximum efficiency. The products offer world class quality, which is very important. It is now one of the big guns in the pharmaceutical sector throughout the world. Other than pharmaceutical sector, Beximco Group is involved in ceramics manufacturing, trading of consumer and capital goods, financial services, aviation and media.