BANGLADESH

Cox s Bazar

Facts
‡ ‡ ‡ ‡ ‡ Population: 162,221,000 Capital: Dhaka Currency: Taka ( 1US$ = 69.2256 Tk) Religions: Muslim 83%, Hindu 16%, other 1% Industries: readymade garments, agro-based & agroprocessing industry, pharmaceuticals, telecommunication, computer, software & ICT goods, poultry industry, leather goods, & tourism

Inflation
ear Inflation rate (consumer prices) 3.10 % 5.60 % 6.00 % 7.00 % 7.20 % 9.10 % 8.90 % Rank Percent Change Date of Information 2002 est. 80.65 % 7.14 % 16.67 % 2.86 % 26.39 % -2.20 % 2003 est. 2004 est. 2005 est. 2006 est. 2007 est. 2008 est.

2003 2004 2005 2006 2007 2008 2009

117 67 160 160 163 184 137

GDP Real Growth Rate
Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 GDP: Total $226.205 billion (48th); Per Capita $1,398 (153rd) GDP - real growth rate (%) 5.2 5.3 5.6 4.4 5.3 4.9 6.4 6.6 6.3 4.9 5.9

Threats
‡ ‡ ‡ ‡ ‡ Literacy rate low Political instability Infrastructure deficiencies (electricity, water, gas) Natural disasters Imperfect Market (middleman takes all)

JP Morgan produced a report in April 2007 where they included Bangladesh in their Frontier Five .

Next 11 Countries

Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey, and Vietnam

"Bangladesh is the third easiest country in which to do business in South Asia
‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Extremely competitive labour costs across a broad range of sectors Global competitiveness in textiles can be replicated in other industries Many untapped investment opportunities in new industries such as outsourcing and pharmaceuticals Large natural resources in natural gas and coal and enormous investment demand for infrastructure projects across all sub-sectors Adjacency to India and China in the heart of Asia Government is trying to diversify the economy by promoting industrial development Reduced the time for registering property by almost half and simplified business start-up The government now allows 100% foreign ownership of companies with no exit restrictions and full repatriation of capital. The World Bank has ranked Bangladesh as 17 for Investor Protection ranking above India (29) and Vietnam (143).

Things You Need To Know!
Business Meetings
‡ Meetings in Bangladesh are generally the place where decisions are disseminated rather than made. Completing a meeting fully takes priority over time and may extend well past any scheduled end time. Communication is formal and follows a hierarchical structure. Deference to the most senior person in the group is expected. This is especially true when dealing with government officials. One should never let their level of professionalism slip. Casual behaviour may be misinterpreted as a lack of respect. Bangladeshis are quite implicit/indirect communicators. They tend to communicate in long, rich and contextualized sentences. Personal space is less of an issue in Bangladesh than many European cultures. Bengalis stand close when speaking to someone of the same gender and touch is common. Alcohol not always welcome!

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Social Entrepreneur
Social entrepreneur: recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change.

Fazle Hasan Abed: founder and chairman of BRAC (Bangladesh Rural Advancement Committee), the world's largest nongovernmental development organization

Muhammad Yunus: founder and manager of Grameen Bank; awarded a Nobel Peace Prize in 2006

The End

Ease of
Doing Business Starting a Business Dealing with Construction Permits Employing Workers Registering Property Getting Credit Protecting Investors Paying Taxes Trading Across Borders Enforcing Contracts Closing a Business

Doing Business 2010 Doing Business 2009 rank rank
119 98 115 93

Change in rank
-4 -5

118

110

-8

124 176 71 20 89 107 180 108

121 177 68 19 85 108 179 108

-3 +1 -3 -1 -4 +1 -1 0

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