Business Person of the Year

Azam J Chowdhury, Chairman East Coast Group

From a humble beginning in early 1980s with a small oil trading company, Azam J Chowdhury has become one of the most successful industrialists in Bangladesh. He is now the chairman of East Coast Group that has around 30 units and an asset size of $4 billion.

East Coast Group is now one of the fastest growing business conglomerates in the country having more than 30 years of experience in diversified business interests including trading, power generation, downstream petroleum, shipping, renewable energy, plastics and ceramics manufacturing, real estate, wood treatment, corporate finance, banking, insurance, tea production, logistics and distribution.

This amazing performance has earned Chowdhury this year’s Business Person of the Year awarded by DHL and The Daily Star.

But this successful businessman after completing his graduation and post-graduation in English literature from the University of Dhaka in late 1970s was confused about his career.

He was thinking to go for civil service, but suddenly he met a businessman in the capital’s Motijheel area and started to work with him. Chowdhury was typing letters in that office and subsequently he came to know some people in the world market.

Soon after that he set up his own company -- an oil trading company -- at a time when this segment of business was fully controlled and operated by government entities.

Things started rolling after the government allowed the private sector in the oil trading in 1994. Since then he never had to look back.

Now he is the chairman of Prime Bank, Consolidated Tea and Lands Company Bangladesh (formerly James Finlay Limited) and Bangladesh Association of Publicly Listed Companies, and the managing director of MJL Bangladesh Limited, distributor of Exxon Mobil Corporation in Bangladesh. Chowdhury also served as the chairman of Green Delta Insurance Company.

Chowdhury is the president of Bangladesh Energy Companies Association and vice-president of LPG Operators Association of Bangladesh. He is a Member of Advisory Council of Government of the People’s Republic of Bangladesh on Power, Energy and Mineral Resources. He is also the president of Bangladesh Ocean Going Ship Owners’ Association.

Besides, in recognition of his performance, the Hungarian government nominated him as the Honorary Consul of Hungary in Bangladesh.