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.
Unilever Bangladesh Limited (UBL) has been honored with the “Bangladesh Sustainability Excellence Awards” in recognition of its remarkable contributions in the Environment category. The accolade, bestowed by The Daily Star and CSR Window Bangladesh, acknowledged the exemplary efforts of Unilever and other corporate entities and individuals for their impactful projects benefitting society and the environment.
Syed Manzur Elahi, Chairman of Apex Group and Chief Guest at the event, presented the award to Shamima Akhter, Director of Corporate Affairs, Partnerships and Communications, UBL, along with Ruhul Quddus, Supply Chain Director, and Sumaiya Tabassum Ahmed, Manager of Sustainability, Partnerships, and Communications at UBL.
UBL’s plastic circularity initiative has received acclaim for establishing a circular model for plastic waste, enhancing the informal value chain, improving livelihoods, and engaging the community. The project, in partnership with Chattogram City Corporation and Young Power in Social Action (YPSA), has facilitated the collection of 10,000 tons of plastic waste since 2022, benefiting over 2850 waste workers and reaching more than 1 million people through awareness campaigns across all 41 wards of the city. UBL, through this initiative, manages 10% of Chattogram City Corporation’s plastic waste.
Aligned with Unilever’s global sustainability framework—the Unilever Compass—the company has set clear strategic goals for its Climate Transition Action Plan, aiming for zero emissions in its operations by 2030 and net-zero emissions across its value chain by 2039. Unilever is transitioning to renewable energy, exploring low-carbon ingredients, expanding its plant-based product range, and developing fossil-fuel-free cleaning and laundry products. Globally, Unilever is actively working to reduce the environmental impact of its products, including plastic waste management.
On the 27th of November, 2023, Bengal Group of Industries, a distinguished conglomerate in Bangladesh, and BRAC, one of the world’s largest non-governmental development organizations, formalized a strategic alliance through the signing of a Memorandum of Understanding (MOU) at Bengal House. The primary objective of this MOU is to foster collaboration in the development and employment opportunities for fresh graduates.
This collaborative initiative signifies a significant stride in the realms of educational and professional advancement. The partnership endeavors to bridge the divide between academia and industry, ensuring that graduates are not only academically proficient but also possess the practical skills demanded by the ever-evolving job market.
The terms of the MOU outline that Bengal Group of Industries, with its diverse business portfolio, will share invaluable insights into industry trends, job market requirements, and potential employment prospects for graduates. Meanwhile, BRAC, leveraging its expertise in education, training, and development, will focus on grooming and preparing graduates for the challenges of the professional world.
The signing ceremony was executed by Hasan Taiab Imam, Group Head-HR of Bengal Group of Industries, and Md. Al Imran, Head of Operations for BRAC Skills Development Programme. Taiab expressed enthusiasm about the collaboration, emphasizing the joint effort’s aim to equip graduates with the skills demanded by today’s dynamic business environment.
“We are excited about this collaboration with Bengal Group of Industries,” said Imran. “This partnership reflects our joint commitment to empowering young talents with the necessary skills and knowledge to thrive in the competitive job market.”
The ceremony was attended by representatives from both organizations, including Barrister Mahbubur Rahman, Chief Administrative Officer, Md. Hasanuzzaman, Lead HR Operations, Tasnim Fatema Rahman, Lead People, OD, ER & Culture, Mst. Sohel Saedatun Easmin, Lead Learning & Development, Mahfuzul Haq, Asst. Manager-HRD from Bengal Group of Industries and Debangshu Ghosh, Operations Manager- BRAC Skills Development Program, Mosabbir Reza, Employment Officer- BRAC Skills Development Program from BRAC. Barrister Rahman from Bengal, said,” The event served as a platform for dialogue on future initiatives and collaborative projects that will be undertaken to achieve the shared goals of the partnership.”
This alliance echoes the broader commitment of both Bengal Group of Industries and BRAC to contribute to the socio-economic development of the region by cultivating a skilled and empowered workforce.
Bangladesh Finance has launched a groundbreaking financial product called the ‘Green Deposit’ as part of its commitment to steering the country towards a sustainable economy. The Chairman, Manwar Hossain, and the Managing Director and CEO, Md. Kyser Hamid, officially introduced the product at an event hosted by Bangladesh Finance at the Dhaka Chamber of Commerce and Industry in Motijheel on Thursday evening, November 16, 2023.
The Chairman highlighted the significance of the ‘Green Deposit,’ emphasizing its role as an innovative initiative designed to direct customers’ savings toward social responsibility. The primary focus is on supporting initiatives related to sustainable development, providing opportunities for emerging entrepreneurs, especially women, and contributing to the creation of not only economically self-reliant communities but also a sustainable and environmentally friendly world.
The Managing Director and CEO further underscored the product’s importance, stating that the objective is to leave a habitable world for future generations. By preventing the adverse effects of natural calamities, particularly those related to the greenhouse effect, it becomes possible to protect the environment. In alignment with government and Bangladesh Bank initiatives aimed at achieving net-zero carbon emissions, Bangladesh Finance has introduced the 100% eco-friendly financial product, the “Bangladesh Finance Green Deposit.”
The ‘Green Deposit’ establishes a unique platform where deposits are exclusively tied to Green Financing accounts. Going beyond a conventional account, this platform empowers customers to contribute actively to the country’s sustainable development, allowing them to be recognized in terms of their carbon footprint. It serves as a milestone towards building a socially responsible and environmentally sustainable society, contributing to the vision of a Green Bangladesh with a robust and eco-friendly economy. Officials from Bangladesh Finance were present at the event to mark this significant initiative.
