Business in Bangladesh
Bangladeshi products enjoy duty free and quota free access to almost all the developed countries. This access to the global market is further helped by the fact that the policy regime of Bangladesh for foreign direct investment is by far the best in South Asia. Most Bangladeshi products enjoy complete duty and quota free access to Germany, EU, Canada, Australia and Norway.
Bangladesh offers an unparalleled investment climate compared to the other South Asian economies. Bangladesh is a largely homogeneous society with no major internal or external tensions and a population with great resilience in the face of adversity, natural calamities. Bangladesh maintains a liberal democracy. The population of this country irrespective of race or religion have been living in harmony and understanding for thousands of years. Broad non-partisan political support for market oriented reforms and the most investor-friendly regulatory regime in South Asia. Trainable, enthusiastic, hardworking and low-cost (even by regional standards) labor force suitable for any labor-intensive industry. The geographic location of the country is ideal for global trade, with very convenient access to international sea and air routes. Bangladesh is endowed with abundant supply of natural gas, water and its fertile soil. Although Bengali (Bangla) is the official language, English is generally used as a second language. The majority of the educated population can read, write and speak in English. As a result of low per capita GDP, present domestic consumption is not significant. However, it should always be considered that there exists a middle class with over 10% of the population. As economic growth picks up, the purchasing power will also grow substantially.
Bangladesh, despite being a least developed economy, has a proven record in export competitiveness.
Competitive Cost Base in Bangladesh:
- Dhaka’s skilled labor cost base is still less than the other major cities.
- Dhaka’s management grades are 2-3 times less than Singapore, Shanghai, and Bangkok.
- Industrial estate rent in Dhaka is cost effective than Shanghai, Jakarta, Bangkok.
- Office rents are also very competitive with other international cities.
- Dhaka’s housing for foreigners is less expensive than Singapore, Mumbai, and Hanoi.
- Cost of diesel in Dhaka is competitively priced than most cities.
- Vehicles use LPG as Dhaka gasoline costs are competitive with most cities.
- Remittance of royalty, technical know-how and technical assistance fees.
- Repatriation facilities of dividend and capital at exit.
- Permanent Resident permits by investing US$ 75,000, citizenship US$ 500,000.
And many more advantages.