Business opportunities in the hospitality sector

Salman F Rahman urged entrepreneurs to invest in the hospitality sector of the region. The Asia-Pacific region now in the world’s largest and fastest developing economy. The prime minister’s private industry and investment adviser and a parliamentary member, Salman F Rahman, requested entrepreneurs to take business opportunities.

The Confederation of Asia-Pacific Chambers of Commerce and Industry held a discussion in Dhaka where Salman F Rahman gave a speech. The conference had over 300 business delegates including representatives of leading national commerce chambers, business leaders and policymakers from 27 Asia Pacific countries.

In his speech, Salman F Rahman said Bangladesh has a lot of manpower and training in hospitality management can enable them to serve both inside the country and outside. As a panel discussant, Salman F Rahman said - I will urge the Cacci businessmen to take full investment potential of Bangladesh. The FBCCI President Sheikh Fazle Fahim also gave speech on the discussion organized by the Confederation of Asia-Pacific Chambers of Commerce and Industry. Brian O’Gallagher, deputy chief executive officer of Australia’s Chamber of Commerce Northern Territory, Cacci President Samir Modi  also spoke. They said that they were interested in training Bangladesh’s manpower in hospitality management and already some of his country’s companies were engaged with young people. Giving the inaugural speech, FBCCI President Sheikh Fazle Fahim said Bangladesh’s economy was stable and its macro-economic growth was in an upward trajectory.

Cacci President Samir Modi in his speech said the Asia-Pacific region was now the world’s largest and fastest developing economy spearheading growth in trade, investment, new technologies, innovation and reforms. He also mentioned that the recent Asia Pacific economic trends gave hopes of becoming the global economy’s future engine.


Information:

https://thetourisminternational.com/2019/12/03/invest-in-hospitality-management/

https://bangladesh-corporate-world.blogspot.com/2020/01/bangladesh-has-huge-potential-on.html

Changes required in the RMG industry

The RMG industry in Bangladesh needs to change. It does not innovate enough. It is too commodity focused. It needs to invest in sustainable production. All these things have been said for a great many years.

There is a more fundamental issue at play here: one of mindset. As humans we are creatures of habit and we are naturally resistant to change. Indeed, whole books have been written on the subject of change management, with a great many reasons offered as to why people within businesses and organisations—including business leaders—resist change.

I believe this is where the problem lies with the RMG sector in Bangladesh.

Few people would disagree that we need to change as an industry to remain relevant in global markets. But, as Barack Obama’s quote above highlights, we are often guilty of waiting for another person instead of making changes happen ourselves. It’s so much easier to let somebody else take the first steps, and this same argument goes for both RMG factories and their customers, brands and retailers.

Let me start with manufacturers. Are the prices paid by brands too low? Yes, they often are. Is Bangladesh unfairly treated by the international media and is there a lot of inaccurate reporting which paints a negative picture of the RMG industry? There is certainly truth in this. Is a lot of onus being placed on us as suppliers to invest in sustainable solutions which brands get the credit for? Again, there is truth in this.

What we all need to understand is that none of the above issues will change at a fundamental level so the only thing we can do is get on with things and, as Barack Obama says, become the change that we seek.

That means going out and making the investments we need to become competitive. Invest in technology. Invest in R&D. Invest in sustainability. Invest in people.

Moreover, the mindsets of both the employers of our RMG sector and of the employees need to be changed. The apparel industry is not a new industry in our country. But still the level of professionalism among many of the employees in the sector are not up to the expectation. The employers, on the other hand, in the past used to employ underprepared people for this industry who learned through their experience. But now we have a workforce who has education on this industry related subjects. Their talents need to be nurtured and they should be given the opportunities to unleash their potential. As man is certainly more important than machine, the employers should have the mindset to invest in people.

And very importantly, invest in story-telling—stories about success, stories about change-making, stories about struggle and spirit, stories about progress, stories about innovation and ingenuity.

Adversarial supplier-customer relationships need to become a thing of the past. The challenges we face are too large and complex to tackle as individual businesses and, in many cases, they require closer working relationships across the supply chain.

With open minds and a willingness to forge new alliances with customers—and in some cases competitors—there is no reason why we would not be able to successfully tackle all of these challenges if we work together.
Report of Daily Star.

Salman F Rahman asked CACCI member countries to invest in Bangladesh

Salman F Rahman, country´s prominent businessman and a parliament member, requested Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) member countries to invest in Bangladesh’s hospitality sector.

He was speaking at a program organized by the institution. The program was held at the Sonargaon hotel in Dhaka.

The prominent businessman and advisor to the PM, Salman F Rahman said in his speech that Bangladesh has potential in hospitality management as the economy has been growing alongside tourism and hospitality services.

The discussion was a part of the two-day 33rd CACCI conference organised in association with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). The conference has over 300 business delegates including representatives of leading national commerce chambers, business leaders and policymakers from 27 Asia Pacific countries. It also has eminent speakers ranging from leading economists and business practitioners to regional policymakers to assess key challenges and issues.

“I will urge the CACCI businessmen to take full investment potential of Bangladesh,” Rahman said as a panel discussant. Bangladesh has a lot of manpower and training in hospitality management can enable them to serve both inside the country and outside, Salman said.

Giving the inaugural speech, FBCCI President Sheikh Fazle Fahim said Bangladesh’s economy was stable and its macro-economic growth was in an upward trajectory. Brian O’Gallagher, deputy chief executive officer of Australia’s Chamber of Commerce Northern Territory, said they were interested in training Bangladesh’s manpower in hospitality management and already some of his country’s companies were engaged with young people.

Main report: Invest in hospitality management

Skilled manpower needed to take the country forward: Salman F Rahman

Prime Minister’ Private Industry and Investment Advisor Salman F Rahman has emphasised the need for creating skilled manpower to take the country forward economically.

Salman F Rahman was addressing a workshop on ‘Formulating National Action for Skill Development’, organised by the National Skills Development Authority when he said: “Foreign workers are taking away four to five billion US dollars’ worth every year through their employment in Bangladesh. This is never desirable for us,” he said, adding that “they can take the money because their efficiency is higher than us in some sectors. We have to increase our efficiency in all of these”.

Salman F Rahman pointed out: “We have long been one of the top producers in the garments industry but the irony is that we still need manpower here from outside. In this case, we haven’t been able to increase the efficiency of our own people.” “Our Prime Minister has set some targets for the country’s economic development. If the targets are fulfilled, we can move to a better position by 2041. But to fulfil these targets, we have to increase our skills.” He reiterated that such progress would not be possible without proper skills development.

Salman F Rahman, also a Member of Parliament, said the Prime Minister has set some issues to enhance efficiency. She has taken the initiative to establish the NSDA. She has also put some sectors, which are more important for the country, under her jurisdiction. “Since this is an important issue, she is looking into the matter herself,” he added. Salman F Rahman cited Japan as an example, saying that some Japanese organisations are working here in Bangladesh, which are taking the people of our country to their country by increasing development in skills.

He said: “In recent times, Japan is said to have taken four lakh workers from nine countries, but Bangladesh was not included there. The Prime Minister then requested Japan to name Bangladesh, in view of which we had an MOU with them. Basically, these four lakh people will go to Japan for construction purposes. But they need to develop their skills in order to serve the purpose of the Japanese,” he added. “The biggest thing is that I will send people to a foreign country by increasing their skills. But if I don’t do it for my own country, it will affect the domestic market,” he noted.

He emphasised the fact that Bangladesh has become digital now, mentioning that many years ago, when the Prime Minister said this, many people had made fun of it. “You may not be aware that 85 per cent of the unions in the country have access to broadband internet through fibre optics. That means there are about 6,000 unions with internet connectivity. The remaining 15 per cent is to be completed within the next year.”

He mentioned that in neighbouring India, people have to pay INR 1,200 for 1 Mbps-speed internet, which Bangladesh has given for only Tk. 500. He talked about bringing the freelancers, who are currently working as programmers for other countries, under a registration list with the information and communication technology (ICT) ministry. He said there are about 10 lakh freelancers in the country and if they can be put on a list, the country’s economy will be further enhanced through them.

Payra Thermal Power Plant

A 1,320-megawatt (MW) coal-based Payra Thermal Power Plant set up on 12 acres of land in Kalapara upazila in Patua-khali  is likely to start production from next December. If everything goes according to the plan, 660 MW of electricity from the power plant will be added to the national grid from December this year. Chinese and Bangladeshi workers are working round the clock to make the power plant fully operational by June 2020.

Sources said that the thermal power plant is a joint venture of the North-West Power Generation Company Bangla-desh Limited (NWPGCL) and China National Machinery Import and Export Corporation (CMC). Although the project was expected to be completed within 2019, the work got delayed due to various unforeseen events, including workers' dissatisfaction. About 2,600 Chinese and 5,500 Bangali workers are currently working in this power plant. Indonesia's MV Jingheiton, a coal-laden vessel, has unloaded coal at the Payra thermal power station’s jetty as the first step to produce electricity.

Power Grid Company of Bangladesh (PGCB) sources said that the construction of a 400 KV line through a Korean company and a 230 KV line through a Chinese company to bring power from the coal-based Paira power plant is progressing at a rapid pace. The electricity generated from this plant will be added to the substation of Gopalganj. From there, it will be supplied to the national grid.

On 19 March 2015, a deal was signed between NWPGCL and the CMC to set up the Payra Power Plant. The joint venture was named Bangladesh-China Power Company Limited (BCPCL).  On 29 March 2016, BCPCL signed an engineering, procurement and construction (EPC) contract with consortium of NEPC and CECC for the installation of the power plant.The utility electricity sector in Bangladesh has one national grid with an installed capacity of 21,419 MW as of September 2019. The total installed capacity is 20,000 MW (combining solar power).

In June, a Chinese electrician was killed and seven other employees of 1320 MW Payra Power Plant were injured in a clash between Bangladeshi and Chinese employees amid rumours that a Bangladeshi worker was killed by Chinese employees.

UAE comes to Bangladesh

Salman F. Rahman, advisor to Bangladesh’s prime minister on private industry and investment, led a 20-member government delegation comprising officials from the Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority and Bangladesh Hi-Tech Park Authority for the meeting in the UAE.

UAE investors lined up several new projects including five free economic zones worth $10 billion in Bangladesh, the plans for which were discussed at the Bangladesh Economic Forum in Dubai.

This was the first time representatives from all three agencies participated in the Bangladesh Economic Forum — a private sector initiative undertaken by UAE-based, non-resident Bangladeshi professionals and entrepreneurs. More than 300 government officials, business leaders, investors and entrepreneurs participated in the day-long international investment conference, which is aimed at strengthening the flow of trade and investment between the UAE and Bangladesh.

Several UAE-based investors expressed interest in developing economic zones and hi-tech parks in Bangladesh. “I am pleased to see strong and genuine interest among UAE-based investors — both UAE national and foreign business groups — in investing in Bangladesh,” Rahman said. He added that Dhaka had seen heavy investments from China, Japan and the US, urging investors from Gulf states, especially Saudi Arabia and the UAE, to “take advantage of the lower cost of investment, operations and higher return on investment in Bangladesh.” Experts welcomed the proposal, with Dr. Shamsul Alam, member of the country’s planning commission, saying that at this moment, it was the “most desirable thing for the country.”

“To attain the target of our sustainable development goals, we need to have at least $9 billion in investment every year until 2030,” Alam told. “At present, Bangladesh has the most congenial policy regime — foreign investors are enjoying the opportunity of a 100 percent profit repatriation policy,” he added.

However, he said that to attract investment, the country was working on building 100 economic processing zones and 28 hi-tech parks by 2030, with plans in place to get 15 ready in the next five years. Bangladesh’s economy grew at 7.9 percent in 2018. The country is on a growth overdrive and is expected to touch more than 8 percent in the next few years, making it the fastest growing economy in the world. In order to sustain 8 percent plus gross domestic product growth, Bangladesh needs massive foreign and domestic investment which will create employment and ensure sustainable development.

The World Bank estimates Dhaka must spend as much as $10 billion a year by 2020 to bring its power grids, roads and water supplies up to the standard in order to serve its growing population.

Salman F Rahman brought dynamic changes to Bangladesh’s economy

From humble beginnings to a global conglomerate – Salman F Rahman brought dynamic changes to Bangladesh’s economy, growth and global perception.

Bangladesh’s growth is nothing short of a marvel.The government started privatizing some of its manufacturing hubs in the 80s. In 1981, the GDP growth rate shot up to 5.6%, demonstrating a newly formed country’s true potential. Henceforth, trust was put on private players, which is where Salman F Rahman, an innovative entrepreneur was spotlighted. Salman F Rahman had founded the Beximco Group with his brother ASF Rahman in 1972. The company initially exported and imported jute, until he and his brother realized the opportunities before them if they diversify Beximco Group’s business. Salman F Rahman noticed that Bangladesh did not have a strong healthcare and medicine infrastructure. This is where the Rahman brothers diversified their business first. Beximco Pharmaceuticals was born in 1980 as a result, and is presently an international pharmaceutical juggernaut. In 2017, Beximco Pharma’s annual revenue was recorded to be BDT$15.5 billion.

The leadership of the brothers took Beximco Group to new heights. The success in pharmaceuticals motivated them to expand their operations to petroleum, banking, aviation, real estate, textiles, power generation, Information Technology, ceramics, and more. The Beximco Park is a testament to the evolution of the import-export company into a multinational conglomerate.  He is working as the Honorable Prime Minister Sheikh Hasina's Private Sector Industry and Investment Adviser. He is also Member of Parliament from Dohar and Nawabganj.

Owing to his rich experience of more than 45 years in the field, Salman F Rahman was appointed as Awami League’s private sector development adviser. An environment promoting business was created at that time, boosting GDP growth rate by 7.2% in 2016, and 7.1% in 2017. Before that, debt fell by 32.4% in 2015 due to the government’s bullish approach.

Because of the stark Bangladeshi progress, Salman F Rahman has been acknowledged as an asset to the country, prompting Awami League to induct him into their party. On 30 December 2018, Salman will be contesting the General Elections from Dhaka-1, an extremely valued constituency with an electorate of 378,968 (2014).

Rahman’s victory has the potential to heavily alter the economic dynamics for the good. The government is aiming for Digital Bangladesh Vision 2021, where the entire country is integrated into a single digital network. To make that happen, economic dynamics need to be unrestrained but controlled. It’s only possible if the government is led by people who understand the intricacies of the market, the economy, and business.