Jagaran Chakma

The government’s plan to impose a ban on the import of reconditioned vehicles to promote local manufacturing and assembling will create an imbalance in the domestic market, according to Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida).

The rising trend in foreign direct investment (FDI) for Bangladesh may slow down this year due to the economic fallout of the coronavirus outbreak, experts believe.

Bangladesh’s event management sector is in dire straits as a lack of work for the past six months amid the ongoing coronavirus pandemic has led to a serious shortage of capital, according to industry insiders.

Premier Cement, a cement manufacturer in Bangladesh, became the maiden exporter to India’s north-eastern state of Tripura through a new river route in a development that is expected to boost cross-border trade and connectivity.

The target of Bangladesh Auto Industries Ltd (BAIL) to market the country’s first locally manufactured electric vehicles will be delayed by up to one year as the ongoing coronavirus pandemic has halted development work of its factory.

With just a year or so to go for golden jubilee celebrations of independence, Bangladesh is on its way to marking an epoch in history by manufacturing its own brand of automobiles with assistance from Japan.

Australian biotechnology company HA TECH will invest up to $80 million, or roughly Tk 700 crore, to establish a large-scale active pharmaceutical ingredient (API) manufacturing facility in Bangladesh that could help the country meet its growing demand.

Cement manufacturers have placed three new demands before the National Board of Revenue (NBR), including the payment of Tk 750 crore as refundable advance income tax (AIT), so that the producers can avail some assistance to cope with their losses amid the ongoing coronavirus pandemic.

Runner Automobiles seems to be on a roll. Hot on the heels of its announcement of bringing the famed off-road motorcycles of KTM to Bangladesh, it has now come up with a new two-wheeler with the highest engine displacement the country has seen yet.

The government plans to phase out the import of reconditioned cars over the next five years in a bid to encourage investments in the assembly and manufacture of motor vehicles within Bangladesh.

Bangladesh’s pharmaceutical sector could fetch up to Tk 700 crore by the end of fiscal 2020-21 from export of Remdesivir, a broad-spectrum antiviral medication that has proven to be effective for the treatment of severe Covid-19 cases, according to industry insiders.

The government would hold talks with Chinese officials tomorrow as part of its desperate efforts to give impetus to the mega projects held up by the coronavirus pandemic.

Beacon Pharmaceuticals is set to inaugurate a new facility today to manufacture antibiotics exclusively -- a venture that is likely to fetch the company Tk 100 crore in export receipts a year.

The Bangladesh Economic Zones Investors Association (BEZIA) has sought intervention from the Prime Minister’s Office (PMO) to help address some of the obstacles for investment in the country’s economic zones.

Bashundhara Group, one of the largest business groups in Bangladesh, is set to establish three new enterprises with a total investment of Tk 4,350 crore at the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Mirsarai, Chattogram.

Bangladesh’s real estate sector will hopefully be able to cope with the ongoing coronavirus pandemic as instalment collection on previous sales started to pick up after the economy reopened in June, according to various realtors and financiers.

Sales of commercial vehicles like trucks and pickups have started to bounce back as economic activities are finally gaining momentum following a two-and-a-half-month-long government-enforced pause amid the pandemic.

Cement manufacturers can breathe a sigh of relief at least for now as the sector has been showing some signs of recovery for the last two months from the coronavirus pandemic.

Bangladesh’s ceramic industry have enjoyed some relief from the coronavirus fallout in the past two months as domestic sales are showing signs of some recovery following the collapse in demand caused by the nationwide shutdown.

With years of diplomatic negotiations with India over the Teesta river’s management leading to no visible output, the Ministry of Water Resources is now seeking to get it done by China, that too with a loan from the latter.