Home / Knowledge / News / Apparel/Garments / 'Nordic companies in B'desh favour expansion'
'Nordic companies in B'desh favour expansion'
25
Mar '16
Boosted by higher profits, an overwhelming 91 per cent of Nordic companies in Bangladesh are mulling increasing their activities in that country in the next three years, according to a survey report.

The 'Business Confidence Survey-2015' released in Dhaka this week said textile and readymade garment industry was the second biggest sector for Nordic companies in Bangladesh.

According to the survey, there had been a 9 per cent rise in ease of doing business in Bangladesh since 2013 with 56 per cent of the Nordic businesses reporting a very favourable outlook in 2015.

The survey report was formally launched by Bangladesh Commerce Minister Tofail Ahmed.

The survey was conducted jointly by the Nordic Chamber of Commerce and Industry in Bangladesh, the Sweden Bangladesh Business Council and the embassies of Sweden, Norway and Denmark.

The survey report said that the companies from Sweden, Norway and Denmark were generating higher profits in recent years and experiencing favourable business climate that could be a leading reason for increasing their business activities in the country.

Thirty four per cent of the respondents of the Nordic companies were earning higher profits in Bangladesh compared to other markets they are active in, a rise from 25 per cent in 2013 when the first such survey was conducted.

The most common reason for starting a business in Bangladesh is the market demand, the survey found.

Around 16 per cent of the respondents entered Bangladesh for cost-efficient production while 12 per cent cited efficient sourcing for doing business in Bangladesh, according to the survey.

Around 53 per cent believe that the power supply situation has improved significantly over the last two years, a rise of almost 19 per cent from the last survey in 2013.

Many of the companies surveyed 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 survey showed that 32 per cent of respondents felt that telecom and information technology and IT-enabled services was the biggest sector for Nordic companies in Bangladesh. The readymade garment and textile sector was the second biggest sector with 25 per cent respondents backing it.

The next survey will be conducted in 2017. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Feb 2020

Cambodian PM urges PRC to export raw materials by air, sea

Prime Minister Hun Sen recently urged Chinese ambassador to Cambodia...

Pic: Shutterstock

Textiles | On 28th Feb 2020

Pak govt urged to help clear consignments from China

The Sindh Industrial Trading Estate (SITE) Association of Industry...

Pic: Shutterstock

Textiles | On 28th Feb 2020

Coronavirus an opportunity for Indian textile industry?

While scientists across the world are busy developing vaccine and...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Top executives, Textile Industry

Top executives
Textile Industry

We will move away from mass production to production in micro-factories

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Jash Choraria,

Jash Choraria

Established in 2015 by <b>Jash Choraria</b>, Unifynd is a Mumbai-based...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search