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9 firms to invest $55m in hi-tech parks

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Nine foreign and domestic firms are going to invest $55 million in Bangladesh’s hi-tech parks to set up manufacturing units for a number of products, including semiconductors, digital devices, and medical equipment.

The companies will also assemble automated teller machines, cash recycling machines, smartphones and other electronics items at the new units, which are expected to create nearly 3,500 job opportunities. The Bangladesh Hi-Tech Park Authority (BHTPA) disclosed this information during an agreement signing ceremony to lease the required lands for these projects for a 40-year period.
Seven of the firms will set up facilities at the Bangabandhu Hi-Tech City in Gazipur while the other two will invest in the Sheikh Hasina Software Technology Park in Jashore.

Of the nine companies, Ulkasemi Pvt Ltd plans to invest $25 million to make semiconductors at the Bangabandhu Hi-Tech City, the BHTPA said during the event, held at the Pan Pacific Sonargaon Dhaka.

Bikarna Kumar Ghosh, managing director of the BHTPA, signed the agreement with the heads of the nine companies.
Halima Telecom of Cumilla will set up a software technology park under the private sector while Celltron Electro Manufacturing Services will establish a medical technology plant by investing about $7 million, according to the BHTPA.

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The hi-tech park authority went on to say that it allocated land to Walton Hi-Tech Industries to provide IT enabled services and manufacture digital devices at Bangabandhu Hi-Tech City. Walton will invest $ 6.50 million in the project, which will likely create 1,550 jobs.

MacTel will investing $ 6million to assemble smartphones, acquiring 1.37 acres of land for the project that will create employment for 332 people.

“Now is the right time to build a sustainable high-tech manufacturing ecosystem in Bangladesh, where hi-tech parks can play a leading role,” said Planning Minister Mannan.

“A labor-intensive economy is not enough to survive the competition and overcome the risks of a global recession amid the Covid-19 pandemic,” he added.

Zunaid Ahmed Palak, the State Minister for ICT, said the Bangabandhu Hi-Tech City is a flagship project of the BHTPA established on 355 acres of land.

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He said the government has established eight hi-tech parks across the country which are ready for investment at any moment.

Most products produced at the Bangabandhu Hi-Tech City are exported. So far, more than 150 local startup companies have been allotted free co-working space at various hi-tech parks, Palak added.

The BHTPA allotted lands to 166 companies with private investment at the parks amounting to Tk 570 crore until now.

The hi-tech park authority has so far invested Tk 950 crore to prepare the enclave for investors, said BHTPA Managing Director Ghosh.

Of the private investors, Oryx Bio-Tech will invest about $300 million in the Bangabandhu Hi-Tech City, he added.

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PriyoShop Secures Top 30 Spot in Prestigious StartUp Wheel Competition

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PriyoShop has taken the Bangladesh flag to new heights by securing a Top 30 spot in Startup Wheel 2025, one of Asia’s most competitive startup competitions in Vietnam, competing against 2,144 startups from 28 countries. With this milestone, Bangladesh has established itself as a significant player in the global startup ecosystem through PriyoShop.

This achievement shows that Bangladesh is growing fast in the digital world and becoming a strong player in retail innovation. PriyoShop stood alongside top startups from countries like Taiwan, South Korea, Malaysia, Singapore, Cambodia, and Indonesia. After six months of tough evaluation, PriyoShop was chosen as one of the most promising international innovators sharing our mission, vision, and real stories about Bangladesh’s retail industry with the world.

Asikul Alam Khan, CEO of PriyoShop, expressed his enthusiasm about the recognition: “This is a significant success for the PriyoShop Team. We have impacted millions of retailers by simplifying the supply chain and empowering them with embedded credit. Through us, Bangladesh will always stand high on the global stage. This recognition provides access to create a global footprint and inspires young entrepreneurs to bring innovative ideas and create international standard startups.”

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As PriyoShop advances, the company remains committed to transforming Bangladesh’s retail landscape while inspiring the aspiring entrepreneurs across the region. The journey from local startup to consistent international recognition exemplifies the potential within Bangladesh’s growing retail sector and demonstrates how innovative solutions can have an impact both locally and globally.

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Bajloor Rashid Elected Chairman, Mezanur Rahman Elected Vice Chairman of Progressive Life Insurance

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In a recently held board meeting of Progressive Life Insurance Company Limited, a renowned listed insurance company in the country’s capital market, Bajloor Rashid MBE, was elected as Chairman and Mezanur Rahman as Vice Chairman.
The formal election took place at the 203rd board meeting of the company held on Sunday, 29 June 2025, for the term 2025-2026.

Bajloor Rashid MBE, is a distinguished and successful businessman and social worker. He is also one of the founding shareholders of Progressive Life Insurance Company Limited. In the early 1980s, he established himself as an ambitious young entrepreneur in the growing catering industry. Notably, from 2006 to 2012, he served successfully as the President of the UK-based association of catering restaurant owners.

On the other hand, the newly elected Vice Chairman, Mezanur Rahman, is an established and successful businessman. He is a founding director and former Vice Chairman of Progressive Life Insurance Company Limited. He holds a degree in Architecture from Leeds Metropolitan University, United Kingdom. He is also actively involved with various humanitarian and social organizations.

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Progressive Life Insurance successfully settles claims totaling nearly Tk 40 crore in 2024

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Progressive Life Insurance Company Limited (PLICL) settled down insurance claims of approximately 40 (forty) crore taka in 2024 which has fortified clients’ confidence on the company. Progressive Life Insurance Company Limited entered 25th year on 6 January 2025. PLICL was founded on 6 January in the year 2000. Discussion programs, slicing a cake, offering dua and a colourful rally were organized to mark the company’s founding anniversary on Monday at PLICL corporate office in the capital. 

The rally moved around different parts of Dhaka city and the officials of the company held a gathering in front of PLICL head office on Monday morning at 10:30 am. 

PLICL Chairman (Acting) M Shoeb Chowdhury joined the 25th founding anniversary celebration virtually as the chief guest. M Shoeb Chowdhury said that the top management of Progressive Life Insurance Company Limited has been able to uphold the dream cherished by expatriate Bangladeshis whose contribution led to the establishment of the company. Shoeb Chowdhury laid emphasis on working with unity and solidarity for the company’s further advancement and to generate many more success stories.

PLICL Executive Committee Chairman Mezanur Rahman , Chairman of Audit Committee Dr. Md. Jamil Sharif, PhD, FCMA and former entrepreneur Prodeep Sen also attended the program. The event was presided over by the company’s Chief Executive Officer (CEO) Md. Saidul Amin. The 25th founding anniversary of Progressive Life Insurance Company Limited was celebrated in 32 districts and divisional offices across Bangladesh. Senior officials of the insurance company expressed hope and determination to transform PLICL into a top notch institution in days to come. The speakers at the program stated that Progressive Life Insurance Company Limited appointed 1200 development officers in 2024 and training courses have been initiated to upgrade their skills.

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PLICL Deputy Managing Director (DMD) Mohammad Hossain Shaheed Suhrawardy, Senior DMD Shahjahan Azadi, Company Secretary Abdullah Al Mansur and Senior DMD Jaseem Uddin Prodhan addressed the program among other dignitaries.

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