About 56% Nordic firms operating in Bangladesh think that the business climate in Bangladesh is favourable
Around 91% of Nordic companies operating in Bangladesh plan to increase their activities in Bangladesh over the next three years, reveals a new survey released in the city yesterday.
According to the survey, the reason behind increasing business activities in Bangladesh could be higher profits as 34% of the firms made higher profits compared to other markets they are active in a rise from 25% in 2013.
The Nordic Chamber of Commerce and Industry in Bangladesh (NCCI) with the Sweden Bangladesh Business Council (SBBC) and the three Nordic Embassies (Embassy of Sweden, Royal Norwegian Embassy and Royal Danish Embassy) conducted the survey titled “Business Confidence Survey 2015”. This is the second survey after 2013.
Commerce Minister Tofail Ahmed launched the survey at a functionorganised by the Nordic Embassies.
NCCI President ShamimUlHuq, Swedish Ambassador Johan Frisell, Danish Ambassador Hanne FuglEskjaer and Norwegian Ambassador Merete Lundemo attended the event.
There has been a 9% rise in favorability of doing business in Bangladesh since 2013 with 56% of the Nordic businesses reporting a very favorable outlook in 2015, said the survey.
“The most common reason for starting a business in Bangladesh is the market demand, 16% of the respondents entered Bangladesh for cost efficient production and 12% of the respondents for efficient sourcing”.
About 56% Nordic firms operating in Bangladesh think that the business climate in Bangladesh is favourable.
Some 53% believe that the power supply situation has improved significantly over the last two years. Such belief over the power situation was almost 19% in the 2013 survey.
The survey, however, said the scenario is not a 100% optimistic as many companies have identified scope of improvements in certain areas which the national decision makers should look into in order for Bangladesh to remain an attractive business and investment destination.
The main objectives of the survey were to monitor the business confidence of Nordic companies in Bangladesh, to assess Bangladesh’s future role among the emerging Asian economies, to gather the joint experience and knowledge of Nordic companies in order to facilitate future establishment of Nordic companies in Bangladesh and to be able to better understand trends in the Bangladeshi business environment, as the survey will be repeated in 2017.