Stocks
Bangladesh Pitches Investment Opportunities to the French Market
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, has revealed that France is actively seeking to become a partner with Bangladesh in a significant business venture. He emphasized that France is a substantial market globally, and having accurate information about Bangladesh is crucial. In the past, France lacked accurate data and insights about Bangladesh, but that is changing. Now, France is well-informed and understands the potential of Bangladesh. Consequently, they are considering Bangladesh as a valuable partner. Previously, they provided aid and had a Bangladesh Donor Club in Paris, but the focus has shifted. Instead of seeking assistance, Bangladesh is now looking for investment opportunities.
On Monday, October 23, “The Rise of Bengal Tiger: Bangladesh-France Trade and Investment Summit 2023” was held in the French capital, Paris. The event was jointly organized by the Bangladesh Securities and Exchange Commission (BSEC) and the Bangladesh Investment Development Authority (BIDA), with the cooperation of the Ministry of Foreign Affairs and the respective embassies of both nations.
The occasion featured the presence of Dr. Hasan Mahmud, the Minister of Information, and Salman F. Rahman, the Prime Minister’s Adviser for Private Industry and Investment. It was graced by special guests including Khondker M. Talha, the Bangladeshi Ambassador to UNESCO, and Ms. Marie Masdupuy, the French Ambassador to Bangladesh. The event also included a video presentation by Professor Shibli Rubayat-Ul-Islam, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC).
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC) highlighted the historical friendship between Bangladesh and France, tracing it back to the establishment of diplomatic relations on February 14, 1972. He noted that the Bangladesh Embassy in Paris was inaugurated on March 17, 1972, on the occasion of the birthday of the Father of the Nation of Bangladesh. Discussing Bangladesh’s foreign policy, he emphasized the country’s commitment to maintaining friendly relations with all nations, without harboring any enmity.
Furthermore, the Chairman emphasized the significant trade ties between the two countries, particularly in the export of various products from Bangladesh to France. These products include garments, accessories, bags, shoes, and processed fish, showcasing the diversity and potential of trade between Bangladesh and France. The remarks underscored the strong foundation of bilateral relations and the promising economic collaborations between the two nations.
The Ambassador of France to Bangladesh, Marie Masdupuy, has expressed France’s interest in exploring investment opportunities in various sectors in Bangladesh. This declaration comes on the heels of a recent visit by French President Emmanuel Macron to Bangladesh, during which both nations engaged in discussions on matters of mutual economic interest.
Pierre-Jean Malgouyres, President of the France-Bangladesh Business Council, announced plans for a business delegation to visit Bangladesh in February or March 2024, with the aim of assessing investment prospects in the country. The delegation will evaluate the existing conditions and potential for investments in various sectors.
The Director-General of the Bangladesh Securities and Exchange Commission (BSEC), Md. Mahbubul Alam emphasized Bangladesh’s economic potential and progress over the past decade. He noted significant advancements in the country’s economic and social sectors, with remarkable infrastructural development. The cost-effective labor force and investment-friendly climate in Bangladesh provide lucrative opportunities for foreign investors. However, Bangladesh’s Securities and Exchange Commission (BSEC) and the Bangladesh Investment Development Authority (BIDA) have organized investment promotion events and roadshows in three European countries to attract foreign investors to explore the potential that Bangladesh offers.
Furthermore, the Chairman added that in the past decade, Bangladesh has made remarkable progress in its economy. It has been on an upward trajectory in all key indicators. However, the opportunities and potential of our economy have not been adequately conveyed to potential foreign investors. This has hindered substantial foreign investments from flowing into the country. Thus, initiatives like investment promotion events and roadshows will play a crucial role in attracting foreign investments.
He further emphasized that Bangladesh offers various incentives for investment, developmental initiatives, an investment-friendly government policy,overall economic situation and FDI were presented to the guests. In particular, how expatriates and foreign investors can directly invest in the stock market, its strategy and overall security are informed.
Istaq Simul, Managing Director of 3i Asset Management Limited, lauded the successful organization of the business summit in Paris by BSEC and BIDA. He expressed hope that this event will substantially boost French investments in Bangladesh, particularly in the stock market and various other sectors. These developments mark a significant step towards strengthening economic collaboration between Bangladesh and France.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
