6. Facts of Bangladesh Official name : People’s Republic of Bangladesh National flag National emblem Capital city : Dhaka Nationality : Bangladeshi Name of currency : Taka (TK) Area : 147570 sq.km
7. Facts of Bangladesh Boundary: North - India West - India South - Bay of Bengal East - India and Myanmar
15. Geographic-- Natural Resource Bangladesh Tea Bangladesh Tea Board: To regulate, control and promote the cultivation, sale and export of tea. In Chittagong, Panchagarand Sylhet Districts Global Production of Tea 2006 (Million Kg)
30. Life Expectancy: 63.21 years – rank #169 (2008 est.)Notice!!! There is a significant decrease in % of people between 0-14 years Next 15 years, the number of population in Bangladesh is likely to decrease.
46. Independence Previously known as East Pakistan, the war for independence in 1971 brought about the establishment of People’s Republic of Bangladesh with the help of India. Problems after Independence: famines, natural disasters, prevailing poverty (later tackled with Education and Population policies), political turmoil, and military coups. Restoration of democracy in 1991. Constitution was given in 1992.
47. Government A parliamentary representative democratic republic. Political crisis during 2006-2008 Widespread violence and rioting, taking lives of more than 40 peoople. Current government President: Zillur Rahman. Prime Minister: Sheikh Hasina. Important policies Education Population
55. 18% of people in 2002 lived under straw roofs and only 54% had access to safe latrines.
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57. Inequality Between Rich and Poor Gini Index of inequality stagnant since 1995 showing a more equal distribution of income. Still score shows large income disparity. Inequality Between Males and Females School enrollment rates, literacy rates, and until recently life expectancy suggests women are marginalized in society. Microfinance and modernization are helping to change this but much work still to be done. Social Environment - Equality
58. Grameen is a system of companies that originally started offering Micro-Loans to poor people. Today Grameen operates numerous social businesses from education, financial, health care, communication, nutrition, etc… that are owned by the borrowers of Grameen Bank. Much of the improvements in the field of poverty and equality have been attributed to Grameen and Professor Mohammed Yunus who also won the Nobel Peace Prize. Social Environment - Grameen
74. BUT… GDP - composition by sector (2008 est.) :
75. Reasons behind… Climate: tropical; mild winter (October to March); hot, humid summer (March to June); humid, warm rainy monsoon (June to October) Terrain: mostly flat alluvial plain; hilly in southeastern But: Natural hazards: droughts, cyclones; routine floods yearly About a third of this extremely poor country floods annually during the monsoon rainy season, hampering economic development. Soil degradation/erosion; deforestation
79. Economic Development Independence in 1971-1990 $30 billion in grant aid and loan commitments from foreign donors Large trade deficit, financed through aid receipts and remittances from workers overseas The static economic model- the nationalization of much of the industrial sector resulted in inefficiency and economic stagnation
80. Economic Development 1975 Greater scope to private sector, but banking and jute sectors remain under government control Inefficiency in the public sector Resistance developing the country's richest natural resources Limited capital restrict Mid-1980s Encouraging private enterprise and investment Denationalizing public industries Reinstating budgetary discipline Liberalizing the import
81. Economic Development 1991-1993 New economic program -financial sector reform, liberalization, encourage investment Income transfer measures, Food-for-Work Successfully followed an enhanced structural adjustment facility (ESAF) with the International Monetary Fund (IMF) Failed to follow through on reforms in large part because of domestic political troubles
82. Economic Development Late 1990s to 2001 Exports grew 14% in 1996 GDP growth rose 5.5% from 1996 to 1997 Economic slowdown because of flooding in 1998-1999 Unprecedented growth in gas production and electricity production sectors Economic policies became more entrenched Drop in foreign investment 2002-2003 IMF approved 3-year, $490-million plan as part of the Poverty Reduction and Growth Facility (PRGF) World Bank approved $536 million in interest-free loans The privatization of public sector industries has proceeded at a slow pace - worker unrest in affected industries Access to capital is impeded State-owned banks control about three-fourths of deposits and loans, carry classified loan burdens of about 50%.
83. Economic Development Now poor, overpopulated, and inefficiently-governed nation Half of income from service sectors two-thirds of Bangladeshis are employed in the agriculture sector Garment exports and remittances from Bangladeshis working overseas fuel economic growth Pursued a monetary policy aimed at maintaining high employment Higher inflation A lot of banks, but dominated by 4 Nationalized Commercial Banks Nobel Prize Winning, Garmeen Bank, Specialized micro finance bank
86. General Society Hierarchical society (age & position) Wiser Granted respect The most senior male is expected, by age or position, to make decisions
87. Communication Styles Relatively implicit/indirect communication long, rich and contextualized sentences (only make sense with body language) Aware: communication styles may be seen as rude and the information provided inadequate. Less personal space: stand close when speaking to someone same gender (otherwise, space increases) touch is common
88. Meeting & Greeting Relatively formal Proper behaviour is expected Men: a handshake, rather soft (arriving & leaving) Foreign men: nod to a Bangladeshi woman (unless she extends her hand) Addressing men: "Bahadur" ("Sir"), Addressing women: "Begum" ("Madam") Wait until your counterpart moves to a first name basis before you do so.
89. Gift Giving Etiquette The importance: the thought rather than the value gifts should be generally reciprocated rude to offer someone a gift that is difficult to reciprocate
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91. Business Meetings The place where decisions are disseminated rather than made Usually lead by the most senior present, who sets the agenda, the content, and the pace of the activities Meeting structures: not very linear (an agenda and a starting time = guidelines) Priority: Completing a meeting time may be extended Meetings may begin with some small talk Communication is formal and follows a hierarchical structure. Respect to the most senior person in the group is expected (especially dealing with government officials)
92. Never let professionalism slip. Casual behavior may be misinterpreted as a lack of respect. Never lose your temper or show emotion. May lead to a loss of face = a loss of dignity & respect. The need to avoid a loss of face is also reflected in communication styles. Re-phrase sentiments: "we will try", "that may be difficult", or "we will have to give that some thought" Therefore: ask questions in several ways to be certain Silence is often used as a communication tool. Lack of smiles = demonstrate maturity Business Meetings (cont.)
94. Imagine you are an investor with $1 Million. You have identified 3 potential investment opportunities in Bangladesh. IT/Software Outsourcing Natural Gas Sector Textile Manufacturing Where are you going to invest? Opportunities - Industries
95. IT/Software Global Recession makes outsourcing to Bangladesh an economic possibility Natural Gas Global non-oil energy demand steadily Increasing, with abundant supplies in Bangladesh Textile Manufacturing New duty free textile agreements increase outreach of Bengali goods except USA Opportunities – Industries 17.5% 11% 24.4%
97. 1) Increase FDI Inflows into Bangladesh 2) Pursue Free Trade/Open Economy 3) Develop Infrastructure and Disaster Response 4) Focus on Educating Workforce & Labour Mobility Development Recommendations
98. Participation in Regional Organizations (eg: SAARC) Trade Talks with both Developed and Developing Partners (eg: US, India) Spending on Infrastructure, Disaster Response, and Education (eg: WB) Use of NGO’s and Privatization when necessary and appropriate (eg: Grameen) The Role of Government
99. “Moving up the economic ladder as quickly as possible is the best protection against every form of foreign domination.” – Mohammed Yunus Conclusion
