New buyers arrive in the export sector

Like the rest of the world, Bangladesh is now under siege due to Corona Cope. The country is in jeopardy with the overall economy, including people’s livelihoods, expat income, goods exports, and trade. Many fear that the situation will become more fragile. Private sector leaders, businessmen and senior executives are pleased that the government has taken several steps, including the announcement of large-scale incentive packages, to overcome that crisis. They believe that to reduce the impact of the crown, emphasis should be placed on people’s livelihoods, small businesses, the SME sector, and the productivity of agriculture and industry. His hope is that in a few months, trade and commerce will return to normal and the economy will recover.

Ahsan Khan Chowdhury
President and CEO
Pran-RFL

The general holiday in the country to prevent the spread of the coronavirus, I think the market oriented domestic business will change again once it is over. Because agricultural production is improving. And if the garment sector can return to export activities and the government continues its development program, there will be demand in the market. When people return to work, we can go back to where we were before.

However, two problems can arise. In other words, the availability of US dollars is somewhat reduced and credit pressure on banks is created.

There is a risk that the supply of dollars may not be the same as before. Because expats will send less money in the next few days. Now the income of the export sector is lower. However, the dollar reserves at Bangladesh Bank are in very good condition. Therefore, we must ensure that the market is stable.

Meanwhile, the incentives provided by the government to the private sector depend on the banks. The banking sector is a sector that, if it gets into trouble, will worsen the entire business situation in the country. Therefore, the banking sector cannot get into trouble under any circumstances.

There is a high demand for our products in the export market. When stores are reopening after being closed for a month and a half in different countries, many products are needed. Pran-RFL But now you are getting demand for food products from many more buyers. Those who were not our buyers before are also moving forward with the strategy of buying products from one or two countries besides China. Bangladesh can seize the opportunity.

The people of Bangladesh are used to working in the face of adversity. Every time the government told us that the factory could operate with adequate security measures, the workers returned to work with the utmost sincerity. There are not enough workers in factories in India. They are in trouble But our working brothers and sisters have joined the work.

We will be able to overcome the losses that have been incurred in two months. For this, the situation of banks, dollars and ports should be good. We must bear in mind that the port is not a concession. You must stay active at any cost. Must work 24 hours a day.

Germany was built by working overtime after World War II. The people of Bangladesh also need to be mentally prepared for us to work overtime to make up for the loss of Corona. For this, the working time can be extended a little more. If necessary, Eid vacations should be reduced at the factory. This way you can work as much extra time as possible. Then we can overcome the damage together.

Factory productivity must also be increased. Because buyers are now looking to buy products at lower prices than before. In this case, there is no alternative to increase productivity. If we can increase productivity, we can compete more in the export market.

The honorable Prime Minister said a few days ago that not an inch of land should be left vacant. The word has left a mark on my mind. Bangladesh farmers work with the utmost sincerity. We need to put more emphasis on agriculture. In addition, vegetables must be planted in the courtyard of the house on individual initiative.

I propose an economy that is based as much as possible on national production. We will be able to satisfy our own needs and export products.

The government quickly announced an incentive package. I thank the government for that. But I would like to see help among the most affected children. For example, there are some 25 lakh store owners in the country who keep their business activities active, so they should be included in the incentive package.