Positioning Bangladesh : Branding for Business

Date: 7th December, 2012 A resilient and attractive investment destination, even in the thick of a severe global economic downturn, Bangladesh is a democratic country enjoying broad bi-partisan political support for private investment. Bangladesh is attractive because it has a very big consumer market which flourishing with the increase of its per capita income. Bangladesh is largely a homogeneous society with people living in harmony irrespective of race and religion, and a country with annual growth rate of approximately 6% for nearly two decades. Bangladesh offers a strong local market, more global market access and proven export competitiveness. This positive view is one echoed by some of the leading international investment banks. Goldman Sachs names Bangladesh in its list of 'Next 11' countries (those most likely to become the world's largest economies after the BRIC nations) and it is one of JP Morgan's 'Frontier Five' economies. Citigroup has identified Bangladesh as one of 11 countries it terms Global Growth Generators (or 3G countries). The regulatory regime of Bangladesh vigorously supports private sector investment, with incentives of 100 per cent foreign ownership, repatriation of dividend, and the foreign investment protection act. The government has identified public-private partnership as one of its key focus areas, and is committed to attracting foreign investors to its thrust sectors. It is constantly upgrading the investment regulations to attract new investments. For any business, a market of around 160 million people is very hard to ignore: Bangladesh's middle class is larger than the total population of Malaysia, Singapore and Thailand, and a growing middle class means a large section of the population is becoming more inclined to embrace more sophisticated business solutions. Bangladesh's most promising sectors where investors are already taking interest are telecoms (where the future investments will grow in data-based and value-added services), gradually expanding healthcare services, and an education sector that has been witnessing significant expansion for more than a decade. Pharmaceuticals have also experienced a radical shift from being an import-based industry to a self-manufacturing one, FMCG sector is favored by the progressive rise in the purchasing capacity of many people and will see a shift from an unbranded market to brands that will be triggered by consumers, solar energy, battery technology, and the services sectors that are seeing a lot of activities recently along with a number traditional sectors such as jute, leather, frozen foods, plastics and RMG miracles are well known. Bangladesh possesses an enthusiastic, hardworking, and low-cost (even by regional standards) workforce; 57.3% of the population is under 25, providing a youthful group for recruitment. The country has consistently developed a skilled workforce catering to investors needs. It also has a strong entrepreneurial spirit that leaps ahead to break into markets and opportunities. The positioning of a country is usually based on a mix of objective measures and stakeholder perceptions. The fundamental prerequisite for changing perceptions about Bangladesh is to change the disadvantageous realities prevailing in the country to a favorable one. However, this needs to be supplemented by an effective communication strategy which will adequately transmit the primary strength of the country to the world at large. This video tries to portray the limitless possibilities of Bangladesh.