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The economy of Bangladesh is a major developing market economy. As the second-largest economy in South Asia, Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven. It has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. Bangladesh is one of the fastest growing economies in the world.
Chittagong, officially Chattogram, is the second-largest city in Bangladesh. Home to the Port of Chittagong, it is the busiest port in Bangladesh and the Bay of Bengal. It is the administrative seat of an eponymous division and district. The city is located on the banks of the Karnaphuli River between the Chittagong Hill Tracts and the Bay of Bengal. The Greater Chittagong Area had a population of more than 5.2 million in 2022. In 2020, the city area had a population of more than 3.9 million. The city is home to many large local businesses and plays an important role in the Bangladeshi economy.
Dhaka Division is an administrative division within Bangladesh. Dhaka serves as the capital city of the Dhaka Division, the Dhaka District and Bangladesh. The division remains a population magnet, covers an area of 20,508.8 km2 with a population in excess of 44 million, It is the most populous country second level division of the world, growing at 1.94% rate since prior count, compared with national average of 1.22%. However, national figures may include data skewing expatriation of male labor force as gender ratio is skewed towards females.
The jute trade is centered mainly around India's West Bengal and Assam, and Bangladesh. The major producing country of jute is India and biggest exporter is Bangladesh, due to their natural fertile soil. Production of jute by India and Bangladesh are respectively 1.968 million ton and 1.349 million metric ton. Bengal jute was exported to South East Asia from the 17th century by the Dutch, French and later by other Europeans.
Sonali Bank PLC is the principal state-owned leading public commercial bank in Bangladesh. It is the largest bank in the country. Ziaul Hasan Siddiqui is the chairman of the Bank. Niranjan Chandra Debnath and Sanchia Binte Ali are the deputy managing directors of the bank.
Rupali Bank is a state owned commercial bank in Bangladesh. Its headquarters is in 34 Dilkusha, Dhaka. Kazi Sanaul Haque is the chairman of the bank. Mohammad Jahangir is the managing director of the bank.
Motijheel is a central business district and a thana of Dhaka, Bangladesh. It is Dhaka's primary central business district. and also the nation's largest commercial and financial hub. Motijheel, Dhaka's zero point, has the largest number of offices in Dhaka. Motijheel CBD also has one of the highest concentrations of high-rise buildings in Bangladesh. It has thus earned the title of the downtown and city centre of Dhaka and as the bankpara-officepara in Bengali.
The Habib Group is a prominent Bangladeshi industrial conglomerate. Founded in Chittagong in 1947, it employs over 20,000 people and has various interests in textiles, aviation, cement, steel, real estate, insurance and banking. It is the parent company of Regent Airways, a Bangladeshi private airline, and Regent Power Limited, a power generating company.
Adamjee Group of Companies is a group of companies headquartered in Karachi, Pakistan. The group was previously headed by Sir Adamjee Haji Dawood.
The Bengal Subah, also referred to as Mughal Bengal, was the largest subdivision of the Mughal Empire encompassing much of the Bengal region, which includes modern-day Bangladesh, the Indian state of West Bengal, and some parts of the present-day Indian states of Bihar, Jharkhand and Odisha between the 16th and 18th centuries. The state was established following the dissolution of the Bengal Sultanate, a major trading nation in the world, when the region was absorbed into the Mughal Empire. Bengal was the wealthiest region in the Indian subcontinent.
The textile industry in India, traditionally after agriculture, is the only industry in the country that has generated large-scale employment for both skilled and unskilled labour. The textile industry continues to be the second-largest employment generating sector in India. It offers direct employment to over 35 million people in the country. India is the world's second largest exporter of textiles and clothing, and in the fiscal year 2022, the exports stood at US$ 44.4 billion. According to the Ministry of Textiles, the share of textiles in total exports during April–July 2010 was 11.04%. During 2009–2010, the Indian textile industry was pegged at US$55 billion, 64% of which services domestic demand. In 2010, there were 2,500 textile weaving factories and 4,135 textile finishing factories in all of India. According to AT Kearney’s ‘Retail Apparel Index’, India was ranked as the fourth most promising market for apparel retailers in 2009.
Ahmed Dawood was a Pakistani industrialist and a philanthropist. Dawood founded several companies and The Dawood Foundation (TDF), which established the Dawood College of Engineering and Technology.
Partex Group is one of the largest family-run conglomerates in Bangladesh, consisting of over 70 factories. The industries under this conglomerate include foods and beverages, steel, real estate, furniture, agribusiness, plastics, etc.
The textile industry is the largest manufacturing industry in Pakistan and nearly 25 million people work in this industry. Pakistan is the eighth largest exporter of textile commodities in Asia. Textile sector contributes 8.5% to the GDP of Pakistan.
The Ministry of Finance is a ministry of Bangladesh. The ministry is responsible for state finance, including the state budget, taxation and economic policy in Bangladesh. It is led by the Finance Minister of Bangladesh. The department must report to the Parliament of Bangladesh. It contains four divisions:
National Institute of Textile Engineering and Research is also known as NITER. Located in Savar, Dhaka District, it is one of the largest undergraduate textile engineering campus in Bangladesh. It offers the Bachelor of Science in Engineering degree in textile engineering, industrial and production engineering, fashion design and apparel engineering, computer science and engineering & electrical and electronic engineering in co-ordination with the University of Dhaka. Furthermore it starts M.Sc. in Textile Engineering course under the Faculty of Engineering & Technology and MBA in Textile & Apparel Value Chain under the faculty of Business Studies of the University of Dhaka.
Bangladesh Jute Mills Corporation (BJMC) is a public corporation that manages all government-owned jute factories and industries in Bangladesh. The corporation is located in Dhaka, the capital city of Bangladesh. In addition to the jute mills, it also owns several public entities in other fields for the purposes of funding and revenue collection.
The Government agencies in Bangladesh are state controlled organizations that act independently to carry out the policies of the Government of Bangladesh. The Government Ministries are relatively small and merely policy-making organizations, allowed to control agencies by policy decisions. Some of the work of the government is carried out through state enterprises or limited companies.
The Port of Narayanganj is a river port in Narayanganj, Bangladesh. It is one of the oldest and busiest river ports in Bangladesh; and one of the major ports of the Bengal delta. The port is located on the Shitalakshya River. The port area is home to numerous industries.
References
- ↑ "Former athlete Firoza recalls old days". Prothom Alo. Archived from the original on 19 October 2016. Retrieved 14 October 2016.
- ↑ "Bangladesh Textile Mills Corporation: Private Company Information". bloomberg.com. Retrieved 14 October 2016.
- 1 2 "BTMC moves to reopen six mills with Chinese help". The Financial Express. Dhaka. Archived from the original on 18 October 2016. Retrieved 14 October 2016.
- ↑ "Public Sector Enterprise". Banglapedia. Retrieved 14 October 2016.
- ↑ "bangladesh textile mills corporation". btmc.gov.bd. Retrieved 14 October 2016.
- ↑ "Silk Board for raising duty on imported item". The Financial Express. Dhaka. Retrieved 14 October 2016.
- ↑ "Divested jute, textile mills flouting conditions". The Financial Express. Dhaka. Retrieved 14 October 2016.
- ↑ Ahmed, Hafez. "SoEs classified loans to 4 banks down to Tk 2.9b". The Financial Express. Dhaka. Archived from the original on 18 October 2016. Retrieved 14 October 2016.
- ↑ "Losses pile up at state entities". The Daily Star. 13 June 2010. Retrieved 14 October 2016.
- ↑ "No move yet to reopen Rangamati Textile Mill". The Daily Star. 5 February 2009. Retrieved 14 October 2016.
- ↑ "Feeding RMG exports". theworldfolio.com. The Worldfolio. Retrieved 14 October 2016.
- ↑ "Industrial enterprises placed under Bangladesh Cotton Mills Corporation" (PDF).