• Monday, Jul 13, 2020
  • Last Update : 12:17 am

Growing the local market

  • Published at 12:03 am August 20th, 2019
Export shipping containers
Bigstock

What better way to meet that goal than to expand the economy through self-sustaining local markets?

It is encouraging to see that locally-produced baby diapers are gradually grabbing the Bangladeshi market we can hope that this is just the beginning of local companies realizing the evolving market demands of our consumers and ways to fulfill them.

While in 2014, about 70% of the demand for baby diapers were met with imported products, now, local manufacturers are catering to over 60% of the demand -- a most encouraging sign which must now serve to inspire other domestic companies and manufacturers to help reduce over-reliance on foreign imports.

With Bangladesh’s lofty, yet achievable, economic aspirations of shedding its LDC tag and attaining middle income status within the very near future, there is a necessity for local manufacturers and companies to step up and aid the government and authorities.

And what better way to meet that goal than to expand the economy through self-sustaining local markets?

Indeed, while there will always be a certain reliance on imports and foreign goods, every economy -- particularly a growing economy with a commendable upward growth trajectory -- must look to develop strong local markets delivering quality goods and services to appease the growing demands of a more prosperous population.

With the government doing its part in providing various incentives to not just international investors, but also local companies, the time is now for local companies to study market trends and develop the right products -- much like what the local diaper industry has done -- so that Bangladesh can continue its impressive ascent towards realizing its full potential as a nation.

57
53
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail