First-ever hi-tech park opens to investors in Sept

http://nation.ittefaq.com/issues/2009/08/08/news0143.htm

First-ever hi-tech park opens to investors in Sept

bdnews24.com, Dhaka

The country’s first-ever hi-tech park at Kaliakoir will be open to investors in the IT industry by September, AKM Abdul Awal Mazumder, secretary of the ministry of science and ICT said on Thursday.

The government is taking initiatives to develop the country’s ICT sector in line with its vision of a ‘Digital Bangladesh’, Mazumder said at a workshop on ICT services development by the Embassy of Japan at a Dhaka hotel on Thursday.

Mazumder told bdnews24.com after the session, “The initial infrastructure of the park will be completed by September this year.”

“The park, on 62 acres of land, will create scope for investors in the sector.”

He said the site would have its own power substation and be connected with Joydevpur by rail for easier communication for high-tech industries to be set up here.

“The site will be allotted in plots, same as in the EPZs, with many facilities.”

An ICT training institute will also be established there, he said. “Korean investors have showed their interests in this.” The park would have an administration building and a resort for visitors to showcase the country’s ICT sector, he said

“Another hi-tech park will be set up at Noakhali soon,” he added.

The ministry of science, information and communications technology (ICT)

initiated the Kaliakoir project in 2003, but there was virtually no progress in its implementation for several years except for acquisition of land at the project site.

In September 2007 the construction work started rolling. The government developed the basic infrastructure of the park at a cost of Tk 24.4 crore under the first phase of the project.

Medicine exports make big turnaround in last quarter

http://www.thefinancialexpress-bd.com/2009/08/06/75430.html

Medicine exports make big turnaround in last quarter

Md Fazlur Rahman

The country’s medicine export made a turnaround in the last quarter of the just concluded financial year as the manufacturers shook off the effects of the global recession to explore new markets across the globe.

Shipments of pharmaceutical products bearing made-in-Bangladesh tags grew 6.21 per cent to US$45.67 million in the fiscal year ended in June, overcoming a minus growth of around 16 per cent in the first nine months of the year.

Although the figure is eight million dollars short of the target, manufacturers said they came back strongly in the last quarter and posted higher growth at a time when the overall export recorded the slowest growth since the 2002-03 fiscal.

The Export Promotion Bureau (EPB) said last financial year’s shipment was the highest since the country started exporting medicines in mid-1990s. Last year the country shipped $43 million worth of drugs.

General secretary of the Bangladesh Association of Pharmaceuticals Industries (BAPI) Abdul Muktadir said the revival was due to surge in orders from western buyers.

“Initially the exports were lower due to falling demand from many importing countries who have been hard hit by the recession. But now the order is increasing day by day,” he told the FE.

“The buyers held back their orders due to plunge in consumer spending at home. But in the last few months we see many buyers are placing bigger orders. They are also impressed with the quality of our products,” he said.

Mr Muktadir, also the managing director of the country’s third largest drug maker Incepta Pharmaceuticals, said export would grow significantly in the next five-six months, as global economy shows signs of bottoming out from the worst recession in six decades.

A hefty revival of export fortunes also prompted some top manufacturers to spend heavily in new factories and up-gradation of the existing facilities.

The country’s largest drug maker Square Pharmaceuticals last week said it would invest nearly Tk6.00 billion in new production facilities to cater to increasing demand at home and abroad.

On Tuesday another leading manufacturer Acme Laboratories said it would build a Tk2.00 billion plant, which would comply British standards, to get a slice of the multi-billion dollars export market.

Others including Incepta, Renata, Drug International and Eskayef have already set up new and most-modern facilities in an effort to capture markets abroad.

Mr Muktadir said several other local pharmaceutical companies were planning to cash in on the increasing demands from importing nations, especially countries where Bangladesh faces fewer shipment restrictions.

“Many companies I know are investing or planning to invest to expand their business. They are bullish about export markets and the future of the industry,” he said.

He said exports would have been far higher had the government fixed basic infrastructure like power and gas.

“The investors are still weary as the energy crisis is hampering their daily production. The government should come up with an urgent solution to find a way forward on the energy issue,” he said.

Bangladesh exported products worth US$15.57 billion in 2008-09, up 10.31 percent than the previous financial year, according to data released by EPB.

Abdul Monem Ltd to enter into pharma sector

http://www.thefinancialexpress-bd.com/2009/08/06/75388.html

Abdul Monem Ltd to enter into pharma sector

Jasim Uddin Haroon

Abdul Monem Limited (AML), the popular Igloo ice cream maker, will be entering into the pharmaceutical sector within the next couple of months with option to manufacture high-end products drugs.

AM Pharma has already installed machineries at its plant at Hemayetpur in Gazipur. The brand name of its products will be Novus.

“We expect to go into production within the next two months as we have already installed the equipment,” ASM Mainuddin Monem, managing director of AM Pharma told the FE Wednesday.

He said the main objective of entering into the drug market is to produce and market quality drugs at affordable prices.

AM Pharma will produce initially 24 generic products mostly related to common diseases including diabetes and heart disease.

He said it is initially investing around Tk 200 million saying “We will expand our plant in second and third phases investing further.”

“Yes, this is our initial investment. Our site has been designed to make room for further expansion in future,” he added.

Mr Main said he became interested in setting up the pharmaceutical plant seeing bright prospect of medicine production for both local and export markets.

“Apart from this, we think that we have a commitment to serve the country’s people with quality and affordable drugs”

There are 164, out of 232 registered pharmaceutical companies producing around 8000 types of drugs.

The companies produced medicines worth Tk around 50 billion in 2008. Bangladesh is currently exporting its generic drugs to some 67 countries.

AML has a number of concern including Coca Cola, construction, sugar refineries employing over 5000 local people. The group’s annual turnover is around Tk 10 billion.

BD garment exports post record high

http://www.thebangladeshtoday.com/archive/August%2009/6-8-2009.htm#economy

BD garment exports post record high
AFP, Dhaka

Bangladeshi apparel exports hit a record high in the last fiscal year, authorities said on Wednesday, helped by low prices that undercut rivals in the region. The strong performance confounded initial fears that orders for Bangladesh garments would fall dramatically due to the demand-sapping effects of the global recession.

Shipments of knitted and woven items jumped 15.5 percent to hit a record 12.35 billion dollars in the fiscal year to June 30, the government’s Export Promotion Bureau said.

“We produce low-end products. No other apparel producers can beat Bangladesh on price,” export bureau chief Shahab Ullah told AFP.

“Our manufacturers have become more competitive after the recession started to hit global exports from late 2008,” he added.
A price war among Bangladesh’s 4,500 manufacturers had helped spur the flow of export orders, Ullah added.

Apparel exports, which grew by nearly 17 percent in the previous year, account for 80 percent of the impoverished country’s annual shipments. “We have done very well compared to other countries in the region which have all posted negative growth because of the global recession,” Ullah said.

Vietnam, India and China are the country’s main garment export rivals.

The Bangladesh data came a day after an industry report showed that India’s garments exports fell by 15 percent to 2.4 billion dollars in the first quarter of the Indian financial year to June.

Bangladesh’s garments exports logged 40 percent growth in the first quarter of the last financial year. But in the remaining three quarters, growth slowed to around five percent as the global recession started to pinch.

Overall exports in the year grew 10.31 percent — the slowest since the 2002-3 fiscal year — to 15.57 billion dollars as sales of most other major products fell due to the international slump, the EPB said.

Green tech puts new face on business

http://www.thedailystar.net/newDesign/news-details.php?nid=100339

Green tech puts new face on business

Md Hasan

The green technology is gaining ground in Bangladesh, as several sectors are adopting the innovations, thanks to growing campaigns against carbon emissions, the lead contributor to global warming.

The idea behind green technology encompasses evolving new methods and techniques to generate energy for production of non-toxic products. The concept — ‘be green and make business green’ — is up in the air.

Starting a green business has two advantages over starting any other kind of business, says an expert. First, environmentalism is growing and so green technology-powered businesses will target a growing market. Second, the intangible benefit is that a person investing in green business has the satisfaction of knowing that the contribution is making the world a better place to live in.

Solar energy has emerged strong in the market for green technology over the last twelve years to mitigate the effects of electricity shortages at rural levels.

The need for solar energy is keenly felt as only 40 percent of the population has an access to electricity. Power cuts are common. Demand for electricity is growing at over 500MW a year.

Grameen Shakti (GS), a concern of Grameen Bank, is the market leader in installing solar-based technologies for various uses. Having installed 325,000 photovoltaic solar home systems and 8,000 biogas plants for cooking purposes across the country, it delivers sources of renewable energy.

GS has also launched a programme to promote environment-friendly stoves in Bangladesh to address the high demand for biomass fuel to reduce indoor air pollution caused by cooking on traditional stoves. So far, 35,000 improved cook stoves have been installed.

“Green technology improves the quality of life,” said Dipal Chandra Barua, managing director of Grameen Shakti.

“Our idea is not only to introduce green technology, but to make a green generation,” said Barua. “We plan to generate 100,000 green jobs by 2012, by training them on producing and maintaining green technology as a sustainable source of energy.”

Grameen Technology Centre (GTC) daily trains hundreds of women.

The growing concerns over where food comes means more people demand organic food.

Apart from GS, 15 organisations provide home-based solar energy system.

GS, Rahimafrooz and some other organisations are developing zero-carbon emitting irrigation pumps and organic fertilisers to produce healthier crops. It has developed solar irrigation pumps to replace the traditional ones that run on diesel. The company is operating nine pumps in crop fields.

“The pumps are powered by solar panels, which emits zero carbon,” said Nazmunnahar, executive engineer of Rahimafrooz. The company took the initiative to introduce green technology to the crop fields to produce organic food. From its heavy dominance on chain super shops, Rahimafrooz is one of the promoters of organic food.

A small-scale biogas plant based on cow dung can produce more than 8,000 kilograms of slurry, which is equivalent to 224 kilograms of urea, 1,120 kilograms of TSP and 114 kilograms of mp fertiliser. An entrepreneur can earn Tk 16,000 by selling this slurry for a minimum of Tk 2 per kilogram.

Brickfields are the major sources of greenhouse gas emissions in Bangladesh. An inefficient number of poorly constructed kilns and the use of substandard fuels in the kilns contribute to the high level of emission.

Around 4,000 brickfields produce more than 12 billion bricks a year, which has been growing by 10 percent a year due to a boom in real estate.

A United Nations Development Programme (UNDP)-supported pilot project was introduced at Dhamrai, a brickfield hub, to modernise the industry and substantially reduce greenhouse gas emissions. It recommends the use of the environment-friendly Hybrid Hoffman Kiln (HHK) technology to replace the age-old Fixed Chimney Kiln in the brick-making units.

The 150-year-old kiln technology being used in Bangladesh is mostly based on Bull’s Trench Kiln Technology. Under the UNDP project, 31 energy efficient brick kilns will initially be set up in different parts of the country.

In high-tech based industries, telecom comes to the forefront to go green. Bangladesh’s largest mobile phone company Grameenphone is making the ultimate transformation to become a “green company”.

In Bangladesh, the mobile sector accounts for less than 1 percent of total carbon emission.

“We are all contributors to this global crisis and we all need to be part of the solution,” said Oddvar Hesjedal, chief executive of Grameenphone. “An environmental roadmap aims to promote a low-carbon society and the company’s first priority is to take responsibility for the excess CO2 emissions being generated by its own operations.”

Grameenphone has started adopting green energy solutions for its base stations; two hybrid solar-powered base stations have been operational since last year. The company is also to install an experimental wind-turbine at the base station.

In developed countries, the use of green or renewable energy has emerged in a big way.

“We are not lagging. Some technologies are in place, while many more are being developed,” said Muhammad Zamir, chairman of Bangladesh Renewable Energy Society.

Globally, green technology is being used economically and socially. “The government should encourage its use among the mass on a larger scale, at affordable rates.”

hasan@thedailystar.net

Huge mineral resources in North-Western region-Researchers

http://www.bssnews.net/newsDetails.php?cat=8&id=50602&date=2009-08-05&PHPSESSID=dcc547abcf4cbc70168ebe3517135468

Huge mineral resources in North-Western region-Researchers

ISLAMIC UNIVERSITY, Bangladesh, Kushtia, Aug 5 (BSS) – Two researchers here have disclosed that the North-Western region of Bangladesh possesses a huge amount of mineral resources including magnetic materials.

Professor Mahbubur Rahman of the Department of Applied Physics, Electronics and Communication Engineering (APECE) of Islamic University and Dr. Shaikh Enayet Ullah of the Department of Information and Communication Engineering of Rajshahi University made the disclosure at a seminar here recently.

Professor Mahbubur Rahman and Dr. Shaikh Enayet Ullah after jointly analyzing the geo-physical including geo-magnetic and geo-gravitational data for years reached a decision that the region contains valuable mineral resources under its soil.

Talking to BSS here today, Dr. Mahbubur Rahman said an article on the existence of mineral resources including iron in northern Bangladesh was published in the United States.

Both the researchers firmly believe that the government’s active supports in exploring these hidden resources under soil would sharply change the country’s economic scenario.

JV to invest $6.5m in Adamjee EPZ

http://www.newagebd.com/2009/aug/06/busi.html#9

JV to invest $6.5m in Adamjee EPZ
Bangladesh Sangbad Sangstha . Dhaka

A Hong Kong-France joint venture company named French Fashion Knitting Pvt Limited will set up a garment accessories manufacturing industry in the Adamjee Export Processing Zone.

The 100 per cent foreign-owned company will invest $6.5 million in setting up its plant and produce garments accessories. The company will also create employment opportunity for 1,000 Bangladesh nationals and five foreigners.

An agreement to this effect was signed between Bangladesh Export Processing Zones Authority and the company in BEPZA Complex in the city on Wednesday.

BEPZA member (investment promotion) Prasanta Bhushan Barua and French Fashion Knitting managing director Jeremy Grasset signed the agreement on behalf of their respective sides.

BEPZA executive chairman Brigadier General Jamil Ahmed Khan was present on the occasion.

New model Walton LCD TV hits market

http://www.theindependent-bd.com/details.php?nid=136972

New model Walton LCD TV hits market
Economic Reporter

Walton, one of the leading electrical and electronics assemblers of the country, has introduced three new models of LCD television in the local market.

Director of the RB Group Sirajul Islam said, “To meet the customer satisfaction, our company has launched three new models of Walton TV in the market to cater to consumers.”

Islam said the new model Walton television sets ensure good quality sound and picture that viewers will enjoy.
The new model of Walton TV helps reduce electricity consumption and increase durability.

The price of TV set is most competitive as 42-inch set sells at 1,09,000 compared to other 42-inch LCD television set sells at Tk 2,50,000.

The electricity consumption is also less compared to the television that uses ‘tension mask.’

In this regard deputy director of this company Monirul Hasan said, as the Walton TV has the picture tube of PIL technology, it lasts long as well as saves on electric bill.

Quoting a survey report on the market, Hasan Swapan claimed that the picture tube of Walton TV lasts long as it uses the digital technology and ‘precision in line’ technology.

“Those three new models are already available in the market, which have YUV technology,” media adviser of RB Group, Mizanur Rahman disclosed this on recently.

He said, customer’s choices are change through the terms of time and technology. To meet the customer satisfaction, our company has launched those three new models of Walton TV in the market.

As these three new models contain high quality picture, sound with the assistance of digital decoding circuit, a TV viewer would easily enjoy the variation of brightness contrast and colour, he said. For this reason Walton LCD television is the most popular television in the market, he added.

Local technology can save dredging cost

http://www.thedailystar.net/newDesign/news-details.php?nid=100323

Local technology can save dredging cost
Experts say slight modification of existing sand-lifting method to be effective

Morshed Ali Khan

Experts say it is possible to dredge all rivers and canals in the country using human and technical resources available locally.

Experts at the BIWTA (Bangladesh Inland Water Transport Authority), the organisation that spends about Tk 60 crore annually dredging the rivers, said it is possible to use traditional dredging methods to complete the task at ‘surprisingly low costs’.

They said that with slight modifications, traditional ‘volgates’ currently used to extract sand from the riverbed, could be used to dredge canals and rivers and thus save valuable foreign currency needed to import conventional dredgers.

Engineer Firoze Ahmed of BIWTA said that ‘volgates’ are only equipped with suction mechanism but they could be modified to better utilise them.

“If we are able to equip those volgates with cutting and swinging components, the problem is solved,” Ahmed said.

Conventional dredgers are able to maintain uniformity while dredging the riverbeds. At present volgates can only lift sand from the riverbed, leaving large ditches in its place, which result in complications for the flow of the river.

“We are encouraging some dockyards to design the volgates to scientifically dredge our rivers,” Ahmed said.

Hundreds of private volgates however now lift billions of cubic metres of sand every year from the riverbeds of Meghna, Dhaleshwari and Buriganga rivers. The large amount of sand extracted them feed the thriving construction sector as well as projects surrounding the metropolis.

Professor Khabirul Haque Chowdhury, head of planning, Department of Naval Architecture and Marine Engineering of BUET, said that the government should immediately involve the country’s dockyards, and institutions such as BUET, to develop local technology for river dredging.

“With our experts it will not be difficult to convert existing volgates into dredgers and thus save a huge amount of money,” said Chowdhury.

According to an official source, in August 2008 BIWTA formed a four-member committee to explore possibilities of dredging the rivers by private entrepreneurs. The committee, comprised of experts from the BIWTA and Water Development Board revealed that dredging of all rivers and canals could be completed almost free of cost under some strict guidelines.

The committee formulated a set of policy guidelines for the dredging operations and sent it to the International Union for the Conservation of Nature (IUCN) for further evaluations. IUCN is yet to offer its opinion on the subject.

Meanwhile, the government recently unveiled plans to import 17 dredgers to dredge the country’s major rivers and canals and protect those. In another move, BIWTA has floated an international tender to procure three ‘top-of-the-shelf’ dredgers and other equipment at a cost of around Tk 200 crore.

Moreover, BIWTA is also seeking a fund of about Tk 1,000 crore for a mega-project to keep the country’s river system flowing.

Abdul Amin Howlader, owner of Hasan Volgate and Dredging, who has been running sand lifting business for ten years, said with minor modifications his volgates could dredge any river or canal scientifically.

“We are keeping many of the country’s rivers flowing by extracting sand from them,” he said adding that the government could earn crores of taka by selling sand from the riverbeds.

“We just need to slightly modify our technology and listen to experts in order to complete the job as efficiently as a conventional dredger,” Howladar said.

DU and Japanese varsity signed MoU to promote cooperation in higher education

http://www.bssnews.net/newsDetails.php?cat=8&id=50621&date=2009-08-05&PHPSESSID=dcc547abcf4cbc70168ebe3517135468

DU and Japanese varsity signed MoU to promote cooperation in higher education

DHAKA, Bangladesh, Aug 5 (BSS) – A Memorandum of Understanding (MoU) was signed today between the Dhaka University (DU) and Japanese Rikkyo University to promote cooperation in higher education.

DU Pro-Vice-Chancellor Prof Harun-Or-Rashid and Rikkyo University Pro-VC Dr Kasahara Kiyoshi signed the agreement on behalf of their respective sides at DU Senate building conference hall.

After singing of the MoU, they said the agreement would promote academic excellence and research programmes on science and technology and others subjects of arts and humanities between the two renowned Asian universities.

Under the agreement, both universities would promote cooperation in the fields of academic and research activities and exchange teachers, researchers and Ph.D students.

DU Treasurer Prof Mizanur Rahman, Prof ABM Faruk, Prof Kitayama Siichi, Prof Kinoshita Yaushiko, Prof Kwak Yargehoon, Prof Osa Yukie and Dr Naseer Uddin Jamadar, among others, attended the programme.

Acme plans expansion with new Tk 215cr pharma unit

http://www.thedailystar.net/newDesign/news-details.php?nid=100233

Acme plans expansion with new Tk 215cr pharma unit

Sayeda Akter

On completion of around 60 percent work, the new Tk 215 crore manufacturing unit of Acme Labora-tories Ltd plans to go into production next year.

Located at Dhamrai, the Acme Specialised Pharma-ceuticals Limited will produce anti-cancer and anti-AIDS drugs for the local market, now almost fully dependent on imports of such drugs.

However it will make other drugs too.

Cancer resistant drugs are now manufactured by one or two companies when cancer patients are on the rise in Bangladesh, according to industry people. “This new unit will help enhance our supply capacity to both local and international market by more than 20 percent from the very first year of production,” said Mizanur Rahman Sinha, Acme’s managing director.

The new one of his pharmaceutical conglomerate, which has a track record of producing a wide range of medicines across the therapeutic spectrum for both human and animal health, also targets exports of its produces to rich nations including USA and UK, Sinha added.

Presently, Acme medicines are exported to 11 countries with around 55 percent of such growth a year.

“We are trying very hard to ensure meeting international compliance, while constructing the new unit. At the same time, we are strictly maintaining the regulations of the exporting countries,” said the boss of the local second largest medicine maker.

“We hopefully will go into production by June 2010. Its process of setting up started in 2008,” Sinha told The Daily Star.

Of the total fund for the new plant, Tk 130 crore will come from a syndicated loan, raised by Standard Chartered Bank as lead arranger. A term-loan deal was signed yesterday.

“We put emphasis on ensuring good health for all by manufacturing ethical drugs of the highest quality at affordable prices and reaching out those even to the remotest areas by proper distribution network,” said Mizanur Rahman Sinha.

Common people often fail to get access to anti-cancer drugs because of their unavailability in the local market, he pointed out.

In fiscal year 2008-09, Acme Laboratories recorded a Tk 400 crore sales in domestic market, while it posted Tk $1.2 million exports.

“ Experiencing a success in the domestic market, ACME started its first international operation by exporting medicines to Bhutan in 1995,” said Sinha, adding: “The volume of sales has increased significantly with an average growth rate of 50 percent every year.”

Among the medicines exported, antibiotic, anti-hypertensive, anti-ulcerant and vitamin are remarkable.

South-East Asia, Africa, Middle East and the EU are among the Acme’s export destinations. Myanmar, Nepal, Sri Lanka, Pakistan, Afghanistan, the Philippines, Hong Kong and Vietnam are the countries where it exports regularly.

Sheng Tseng Co to set up shoe accessories, plastic industry in Karnaphuli EPZ

http://nation.ittefaq.com/issues/2009/08/05/news0946.htm

Sheng Tseng Co to set up shoe accessories, plastic industry in Karnaphuli EPZ

Business Report

The former investor of CSD area M/s Sheng Tseng Enterprises Company Ltd of Karnaphuli EPZ is going to set up their Shoe Accessories and Plastic Products Manufacturing Industry in Karnaphuli Export Processing Zone.

Bangladesh Export Processing Zones Authority (BEPZA) has recently re allotted the plots in KEPZ to a former investor of CSD area. The proposed investment of this 100 per cent foreign company was US$ 8.31 mln. They will produce Shoe Accessories and Plastic Products for export. After starting their production, they will also create employment opportunities for 100 Bangladeshi workers including 9 foreign nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the M/s. Sheng Tseng Enterprises Company Ltd in BEPZA Complex, Dhaka on August 03. Prasanta Bhushan Barua, Member (Investment Promotion) of BEPZA and Chen Yu Chuan, Director of M/s. Sheng Tseng Enterprises Company Ltd executed the agreement on behalf of their respective organisation.

Brig General Jamil Ahmed than, ndc, psc, Executive Chairman of BEPZA and other officials of BEPZA were present on the occasion.

Ceramic ware exporters aim sturdy business

http://www.newagebd.com/2009/aug/04/busi.html#1

Ceramic ware exporters aim sturdy business

The image from a company catalogue shows ceramic ware of Bone China. This kind of products makes Bangladesh tableware more attractive at the export markets.

Shakhawat Hossain

Local ceramic ware manufacturing industry is expecting a steady growth with a $100 million return from exports by 2015 as the global markets favour more shipments from Bangladesh.

In the past fiscal, 21 local leading ceramic ware factories fetched more than $35 million from exports of their products to 50 countries, said Rashed Moudud Khan, president of the Bangladesh Ceramic Ware Manufacturers’ Association.

Of the products, ceramic table wares are being exported to about 50 countries including, the US and Canada, tiles to India, Nepal and Bhutan, and sanitary wares to the Middle East, specially to the UAE.

Besides earning valuable foreign currency, the exporting factories and 24 others manufacturers also cater to the entire demand of domestic market, the size of which has grown to Tk 700 crore in 2008-09, he said.

Khan, also the chairman of Bengal Fine Ceramic, said the country exported only $1 million worth of ceramic wares in 1991 before recording a staggering 695 per cent growth in about a decade, investing nearly Tk 2,000 crore and employing some one lakh workers.

Industry leaders said Bangladesh has huge potential to emerge as one of the three largest global ceramic exporters by the next decade for its advanced ‘Bone China’ technology and competitive labour costs.

Besides, Bangladesh enjoys tax exemption in the EU countries as an LDC (least developed country) member.

They said the sector would be a $100 million export industry in the next three years should the markets not been affected by the global economic recession.

However, they pointed out that the government should promote the sector with various incentives as the value addition of the ceramic sector is almost 65 per cent.

The association leaders while meeting with finance minister AMA Muhith on Sunday, submitted 10-ponit demands that included fixation of bank loan at interest of 7 per cent and inclusion of the sector in the Tk 5,000 crore stimulus package announced in the current budget.

They said the manufacturing cost of 60-piece dinner set is $40.23 at the existing interest rate of 13 per cent.

The cost will, however, be much lower at the proposed 7 per cent interest rate which will eventually increase the competitiveness of the local products in the international market.

The association also demanded waiver of 10 per cent supplementary duty on locally manufactured products and full waiver of valued added tax on gas bills from the existing 80 per cent.

Acme to set up specialised unit to export drugs to US, Europe

http://www.thefinancialexpress-bd.com/2009/08/04/75205.html

Acme to set up specialised unit to export drugs to US, Europe

FHM Humayan Kabir

The country’s leading drug manufacturer Acme Laboratories Ltd. would set up a specialised drug production unit with a target to export the products to the US and Europe, officials said Monday.

“We will construct a factory beside our existing unit particularly maintaining the international standard requirements of the United States and United Kingdom markets,” deputy managing director of the drug company Afzalur Rahman Sinha told the FE.

He said: “As we expecting to export to the US and UK market, we will maintain the standard of the US Food and Drug Administration (FDA) and British Medicines and Healthcare products Regulatory Agency (MHRA) in our proposed production unit.”

Mr Sinha said they would invest Tk20 billion to install the specialised pharmaceutical drugs production unit, besides the existing production unit at Dhamrai in Dhaka.

The Standard Chartered Bank would provide Tk1.30 billion loan under a syndicated term loan arrangement with different banks and financial institution to the Acme Laboratories, a human, herbal and animal health medicine manufacturer.

The existing drug manufacturing unit of the country’s leading conglomerate-Acme Group, is exporting pharmaceutical products to some Asian countries including Afghanistan, Sri Lanka, Vietnam and Myanmar in addition to meeting the local demand.

Among the medicines exported– Antibiotic, Antihypertensive, Antiulcerant and vitamins are remarkable.

Mr. Sinha said: “We hope the construction works of our proposed plant would be complete by middle next year. We have set a target to go for production by June-July 2010.”

The Acme Laboratories Ltd, with last year’s turnover of nearly Tk4.0 billion, will be able to create some 1000 new jobs after setting up their specialised production unit.

“After staring production at our new plant, we hope our annual turnover will almost double to nearly Tk7.0 billion,” Mr Sinha said.

Bangladesh’s drug companies have been struggling to enter into different US, EU and African markets with their products for last few years.

Some leading domestic drug manufacturers including Square, Beximco and Eskayef have already got approval of the USFDA and UK’s MHRA for marketing in those countries.

The local medicine manufacturers exported drugs worth US$45.67 million in the financial year 2008-09, maintaining over 6.0 per cent growth over the corresponding year, Export Promotion Bureau said.

IBBL opens 14th SME Service Centre at Daudkandi

http://www.thefinancialexpress-bd.com/2009/08/04/75211.html

IBBL opens 14th SME Service Centre at Daudkandi

Islami Bank Bangladesh Limited (IBBL) inaugurated its 14th SME Service Centre at Daudkandi in Comilla on Sunday.

IBBL Executive Committee Chairman Md Eskander Ali Khan inaugurated the centre as the chief guest, said a press release.

Bangladesh Bank’s Remittances and Payments Challenge Fund (RPCF) Manager Robert Smith and Daudkandi Upazila Nirbahi Officer Salahuddin Ahmed were present at the programme as special guests.

IBBL Managing Director M Fariduddin Ahmad presided over the function addressed, among others, by IBBL Shari’ah Council Member Mohammad Serajul Islam, Executive Vice President and Head of Internal Control and Compliance Wing Gulam Moula Choudhury and Executive Vice President and Head of Comilla Zone M Shamsuzzaman, Daudkandi Upazila Vice Chairman Parul Akter and Daudkandi Bazar Businessmen Association Sectatery Abdul Latif Chowdhury.

Mr Khan, in his speech as chief guest, said IBBL has been working for the last 26 years to reach the service of Islamic banking to the doorsteps of the people. The bank has already achieved top position in the banking sector of the country in deposit, investment, remittance and import-export business and is earning more than 25 per cent of the total remittance of the country, he informed.

He said IBBL has been investing in the SME since its inception and this investment has been extended through opening SME Service Centres.

He hoped that the bank would play more responsible role in creating more job opportunity and eliminating poverty through creating more small and medium entrepreneurs.

Mr Fariduddin said a mentionable amount of the total remittance of the country come to Comilla. He said people of Daudkandi would be able to receive remittance from any place of the world easily and promptly.

He called upon the businessmen as well as the women entrepreneurs of Daudkandi to come forward for taking investment facilities to enhance small and medium enterprises.