Jagaran Chakma is a Staff Reporter of The Daily Star
Automobile sales have dropped substantially since July this year amidst the economic downturn and political turmoil, denting any hopes of recovering from last year’s slump, according to market insiders.
The fate of six state-owned sugar mills remains uncertain as there has been no upgrading progress since those were closed three and a half years ago, contributing to soaring prices of the sweetener in the local market.
Meghna Automobiles, the automotive arm of Meghna Group, began selling three locally assembled sport utility vehicles (SUVs) of South Korean automobile manufacturer KIA recently.
Sales of cement nearly halved in the last couple of months as real estate developers shelved construction plans while public projects came screeching to a halt in the face of nationwide unrest and the sudden political changeover.
Tyre makers in Bangladesh are ramping up production in a bid to expand their market share by catering to a potential supply shortage that may arise from the recent destruction of the Gazi Tyres factory in Rupganj upazila of Narayanganj.
Global hikes in tyre and tube-making raw materials rates and a factory rampage at local key manufacturer Gazi Tyres have caused a shortage and price hikes for the auto item used in lightweight two- and three-wheelers like motorbikes and auto-rickshaws.
Standing outside the charred ruins of the Gazi Tyres factory in Rupsi, Rupganj on September 9, Billal Hossain was staring at a bleak future.
Luxury hotels in Dhaka are yet to resume normal business activities as foreign and local clients do not feel confident in travelling to the country given that the overall situation is still unstable.
Currently, investors in the EZs and hi-tech parks qualify for a tax break for a decade starting from the first year of their operations. They are entitled to a full tax waiver in the first three years.
The proposed budget for 2024-25 lacks creativity and offers no solutions to the many complex challenges facing the country’s economy, economists have said.
Only 10 economic zones (EZs) have become operational since the Bangladesh Economic Zones Authority (Beza) rolled out its massive industrialisation plan in 2015, raising questions about whether its goal of setting up 100 enclaves will be materialised on time.
Locally assembled cars and the range of electric vehicles (EVs) offered by Mercedes-Benz were the main attraction during the 17th Dhaka Motor Show at the Bangabandhu Bangladesh-China Friendship Exhibition Center on Friday.
Ashit Chowdhury, managing director of AAPON, a manufacturer of shataranji and various jute home decor products, applied for a loan of Tk 30 lakh from a private commercial bank.
Imagine walking into a shop and finding products that are identical to those at branded outlets but are being sold for only a fraction of the price levied by the well-known companies.
Although there are around 40 steelmakers in Bangladesh, just four based in Chattogram are currently catering to 53 percent of the total demand, according to market studies and industry insiders.
The government is currently faced with a lack of funds, evidenced by a reduction in allocations it provided from the exchequer for the upcoming Annual Development Programme (ADP), said Fahmida Khatun, executive director of the Centre for Policy Dialogue.
Competition in the cement industry of Bangladesh could become even narrower as smaller producers are at risk of going out of business due to overcapacity in production and increasingly higher input costs.
Steel consumption in Bangladesh is projected to rise by 25 percent to around 1.06 crore tonnes in 2027 from 85 lakh tonnes in 2024 thanks to growing infrastructure development projects and individual consumption, according to Bigmint.