Corporate
SINGER to invest $78m in new plant
Singer Bangladesh is about to invest $78m to set up a new home appliance manufacturing plant inside the special economic zone in Narayanganj to expand local production of its products, according to company authorities.
The home appliance manufacturer and retailer, in association with Arcelik, the flagship company of Koç Group, yesterday inaugurated the construction of their very first state-of-the-art manufacturing unit in the country, they said.
The new unit to produce refrigerators, televisions, washing machines, air conditioners and other major home appliances, which will in turn lower imports of such items.
Additionally, the facility will generate around 4,000 employment opportunities while also developing the local supplier base that will provide to the industry in the future, the authorities said during a press briefing at the Radisson Blu Dhaka Water Garden.
At the event, Dr Fatih Kemal Ebiclioglu, president of Durable Goods Companies of Koc Holding, said they hope this initiative will increase the manufacturing capacity of Singer Bangladesh and strengthen its position in the local market.
he seeks the new unit will go into production by 2023, then said they would consider exporting products made at the new plant after providing to domestic demand.
Cemal Can Dincer, chief commercial officer of Arcelik, said this investment marks a new chapter in their journey in Bangladesh.
“With the support of our new factory, we are planning to locally produce 90pc of our products for local consumers,” he added.
MHM Fairoz, managing director and chief executive officer of Singer Bangladesh, said the company’s new state-of-the-art manufacturing facility will be built according to the gold standards of LEED.
LEED is a green building certificate that is recognized all over the world.
He went on to say that Singer will bring the know-how on energy-efficient products and production technologies to Bangladesh, and this will help the country transition to a low-carbon economy.
“Besides, Singer’s green factory in Bangladesh’s special economic zone will make a significant contribution to economic activity and employment,” he said.
Nihat Bayiz, chief technology officer of Arçelik, was also present at the event.
Mustafa Osman Tarun, ambassador of Turkey to Bangladesh; Abdul Azim Chowdhury, additional secretary and executive member of the Bangladesh Economic Zones Authority, and other high officials and stakeholders were present at the groundbreaking ceremony prior the same day.
Koç Holding is the only Turkish company represented in the global Fortune 500 list. Arcelik acquired the holding company of Singer Bangladesh in 2019.
Koc Group envisions sustainability as a business model and places it at the center of all its operations. As such, Arcelik is committed to net-zero emissions by 2050 to tackle the climate crisis.
The group aims to expand its sustainability vision to every country they operate in and create value for all people and the planet, and its investments in Bangladesh will continue with this understanding, according to Singer Bangladesh.
DHAKA, Nov 07, 2024 (BSS) – Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) has elected a 16-member Board of Directors for the term 2024-2026 with Tareq Rafi Bhuiyan (Jun) as its President.
The election was held on October 27 and November 6, said a press release today.
Tareq Rafi Bhuiyan (Jun) has been elected as the President of JBCCI. He is the Managing Director of New Vision Solutions Limited. He has been the Secretary General of JBCCI for three consecutive terms.
Maria Howlader FCA has been elected as the first female Secretary General of JBCCI. She has also been re-elected as a Board Member for two consecutive terms.
Kenji Kimura has been elected as the Treasurer of JBCCI. He is the Chief Representative of MUFG Bank Dhaka Office, which is the largest Bank in Japan and a member of Mitsubishi Group.
Out of a group of 313 members, including 71 Japanese member companies, the voting process saw a notable turnout of 61.98 percent.
Afsana Zarin has consistently demonstrated her strategic vision and dedication, developing and empowering women entrepreneurs through technology, leaving a lasting impact on the industry.
Recently, she was recognized for her efforts at the Junior Chamber International (JCI) Bangladesh Award in the Women in Innovation with Inclusion category. The award ceremony took place at Hotel Le Meridien in Dhaka on Friday, October 25, 2024.
The prestigious event was graced by notable guests, including Dr. Iftekharuzzaman, Head of Anti-Corruption Reform Commission and Executive Director of Transparency International Bangladesh, who attended as the Chief Guest. Md Mukhlesur Rahman Sarker, Additional Secretary, Ministry of Women & Children Affairs, attended as the Special Guest, and Rasheda K Chowdhury, Executive Director (CEO) of CAMPE, delivered the keynote speech.
“I am humbled and thrilled to be recognized as a woman of inspiration. Being able to work for women entrepreneurs in Bangladesh is a privilege. Thanks to ShopUp for allowing me to work with thousands of entrepreneurs across Bangladesh. This award inspired me even more towards this north star, and I plan to drive more inclusion through technology in Bangladesh in the coming years,” Afsana said.
Afsana extended her gratitude to the board members of JCI Bangladesh, Imran Kadir, the 2024 National President of JCI Bangladesh, Fahim Ahmed, the event director and the event organizers for selecting her for this honor.
JCI Bangladesh is a nonprofit global organisation that empowers and encourages the youth of the nation to take an active part in helping fellow entrepreneurs and professionals of their own communities to thrive and be successful.
The ceremony, which celebrated the achievements of women leaders in various fields, highlighted Afsana’s contributions to driving women’s economic empowerment through innovative programs and technology.
Her work has set an example for aspiring entrepreneurs, and her commitment to fostering inclusion through technology and creating opportunities for women continues to inspire many in Bangladesh.
Correspondent To witness the deep and diverse historical culture and the latest achievements of high-quality development, the seven-day “International Insights into China” event was held with the theme of “Towards Openness and Integration of the New Era”. The event was held in various cities in China’s autonomous region of Inner Mongolia and Shaanxi Province between October 13 and 19. Media reporters and international students from different countries, including Bangladesh, participated in it.
This event is guided by the Cyberspace Administration of China’s Network Communication Bureau and jointly co-hosted by the Cyberspace Administration of Inner Mongolia Autonomous Region, the Cyberspace Administration of Shanxi Province, and China Daily Newspaper.
During the event, the delegation members visited the Inner Mongolia Museum, Yili Modern Smart Health Valley, Mengcao Seed Industry Center, Grassland Cloud Valley, Huawei Cloud Service Data Center, Qisumu Railway International Logistics Park, Huayan Temple, Hanging Temple and Yungang Grottoes, and Yingxian Wooden Pagoda. They have immersed themselves in the profound and diverse historical and cultural charm of Inner Mongolia and Shanxi, and witnessed the latest achievements of high-quality development. During the activities, the delegation members used their unique “outside eyes” perspective, lenses, and pens to show the world the beautiful picture of cultural inheritance and innovative development in Inner Mongolia and Shanxi and tell the extraordinary story of the local practice of Chinese-style modernization.
The journey began on 13 Oct, and on Oct 14, they explored the Inner Mongolia Museum in Hohhot, where the city’s grassland culture and historical heritage. From Oct 15 to 16, the delegation visited Inner Mongolia’s Ulaanqab City, also known as the “Prairie Technology Valley”, where the Huawei Cloud Data Center, a core area of Inner Mongolia’s big data industry, left a lasting impression on the delegation. The second half of their journey was devoted to Shanxi province. From Oct 16 to 19, they visited iconic tourist sites, such as the Huayan Temple, Nine-Dragon Wall, Hanging Temple, Yungang Grottoes in Datong City, and the Yingxian Wooden Pagoda in Shuozhou City.
Bayasgalan Lkhagvadulam from Mongolia, after climbing the Hanging Temple, said it is marvelling. It’s hard to imagine how people built this temple on the cliff 1,500 years ago. It’s awe-inspiring. If you are interested in ancient architecture, I highly recommend visiting Shanxi to see it yourself.
A group of 20 foreign media journalists, experts, and international students from different countries and regions, including Bangladesh, Kazakhstan, and Mongolia, participated in this event.
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