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Bangladesh’s Q1’22 FDI saw 50% growth

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The country received foreign direct investment (FDI) worth $888.48 million in the first quarter (January-March) of the ongoing 2022, fetching a positive growth of 50.14%. 

According to the recently-published Bangladesh Bank data, net influx of foreign investment during the same period last year was $592 million.

Moreover, FDI in the form of equity capital also skyrocketed 105.26% to $288.33 million during the first three months of the current calendar year, an increase from $140.47 million of the same period last year. 

The central bank data also said that the reinvestment of earnings rose to $613.53 million in Q1 of 2022, registering a growth of 61.11% from last year’s $381 million.

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Moreover, intra-company loans declined by 119% in the mentioned quarter, said the Bangladesh Bank data. 

As per the data, FDI inflow in Bangladesh had declined 10.8% in 2020 year-on-year due to the global outbreak of Covid-19.

However, the inflow of the FDI in Bangladesh then increased by 13% to $2.89 billion next year.

Experts said that after the spread of the Covid-19 pandemic, economic activities around the world picked up after lock downs were removed. 

Moreover, because of things returning to normal, businesses logged profits which stimulated them to reinvest from these profits, they added. 

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The economic recovery from the pandemic also boosted the confidence of foreign investors, which accelerated new investment in the country. 

Talking to Dhaka Tribune, Sirazul Islam, executive chairman of Bangladesh Investment Development Authority (BIDA), said that investment increased due to global economic activities returning to normalcy amid the pandemic. 

In the first quarter of 2021, the impacts of Covid-19 were severe and investments were hit hard. But the economy turned around this year, and so did investments, he also said. 

Islam further mentioned that investment inflow marked a significant growth in the previous two years.

“The positive sides of Bangladesh’s economy promoted among investors also helped attract investment. However, a major portion of the FDI is reinvestment. But it also signals the resilience of our country and confidence of the investors,” he added.

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Bangladesh’s economy is growing, reaching $416 billion in FY22 and this gave investors a message about its potential, he added.

Regarding the ongoing Ukraine-Russia crisis, he said that the world economy is going through a turbulent state due to the conflict. 

“Transport costs have soared; fuel and electricity shortages have emerged around the world. Our economy was recovering in a positive manner, but the war slowed down that pace. If the war is not prolonged, our recovery will continue at the same pace,” he added.

Recently, the US Department of State reported that corruption, inadequate infrastructure, limited financing instruments, bureaucratic delays, lax enforcement of labour laws continued to hinder foreign investment.

Regarding the statement, the BIDA executive chairman said that the government was relentlessly working to address those obstacles. 

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Tremendous developments have occurred in the infrastructure sector, namely the Padma Bridge, deep sea port, third terminal of the airport, and tunnels, which are all evidence of this, he added.

He considered the electricity disturbances temporary, due to the global supply chain disruption.

“If the war is not prolonged and the global economic crisis comes under control, I am hopeful that Bangladesh will get $3 billion in FDI by the end of this year,” he said.

The BIDA official also said that Bangladesh was working to formulate progressive policies and simplified processes to attract new investors.

However, talking to Dhaka Tribune, Zahid Hussain, former lead economist of the World Bank’s Dhaka Office, said that the increase in the FDI did not mean that foreigners suddenly became more interested in doing business in Bangladesh, nor did it mean that ease of doing business had improved.

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A number of large companies have transferred their ownership at different times which influenced such growth, he added.

For example, JTI Group acquired all tobacco businesses of Akij Group and a company made a large investment in bKash last year. 

There might be such large transactions which impacted the FDI growth, he added. 

The economic zones have not yet been ready and the regulation complications still remain, for which Vietnam is ahead of Bangladesh, he added.

The growth rate is good, but the amount did not reflect the full potential of Bangladesh, the economist 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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Editor : Jashim Uddin ; Publisher: Rafiqul Alam Address: Bengal Centre (6th floor), 28 Topkhana Road, Dhaka-1000, Bangladesh Ph :+8802-7124586 e-mail:dailyfrontlinebd@gmail.com Copyright © 2020 Daily Frontline. Bangladesh Independent Daily.