Dhaka, Bangladesh – NewAge reports that around 91 per cent of Nordic companies doing business in Bangladesh are contemplating to increase their activities in Bangladesh in the next three years, according to a survey report.The survey report titled ‘Business Confidence Survey-2015’ released in Dhaka also said that there had been a 9-per cent rise in favourability of doing business in Bangladesh since 2013 with 56 per cent of the Nordic businesses reporting a very favourable outlook in 2015. The Nordic Chamber of Commerce and Industry in Bangladesh together with the Sweden Bangladesh Business Council and the three embassies of Nordic countries conducted the survey.
The survey report said that the companies from Nordic countries— Sweden, Norway and Denmark—were experiencing higher profits in recent years and favourable business climate that could be a leading reason for increasing their business activities in the country. The report showed that 34 per cent of the respondents of the Nordic companies were experiencing higher profits in Bangladesh compared to the other markets they are active in, a rise from 25 per cent in 2013 when the first such survey was conducted.
Commerce minister Tofail Ahmed formally launched the report at a programme held at the Nordic embassies at Gulshan in the capital. According to the report, the most common reason for starting a business in Bangladesh is the market demand.Around 16 per cent of the respondents entered Bangladesh for cost-efficient production and 12 per cent of the respondents for efficient sourcing, according to the survey.
Around 53 per cent believe that the power supply situation has improved significantly over the last 2 years, a rise of almost 19 per cent from the last survey in 2013. The scenario, however, is not a 100-per cent optimistic as many companies have 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 opined that telecom and information technology and IT-enabled services was the biggest sector for Nordic companies in Bangladesh while the ready-made garment and textile sector became the second biggest sector with opinion of 25 per cent respondents.
The next survey will be conducted in 2017.
NCCI president Shamim Ul Hug, Swedish ambassador Johan Frisell and Danish ambassador Hanne Fugl Eskjaer and Norwegian ambassador Merete Lundemo spoke, among others, at the programme.