Three garments manufacturers have been awarded 8th HSBC Export Excellence Awards for their contributions to the Bangladesh economy as well as in exports earning. Commerce Minister Tofail Ahmed handed over the crests to the winners at a ceremony held in Dhaka on 22 September.
The winners of the 8th HSBC Export Excellence Awards from the apparel sector are: DBL Group, Urmi Group, Etafil Accessories.
While Western Marine Shipyard, Mazen (Bangladesh) Industries Ltd, and Walton Hi-tech Industries Ltd also won the awards for their contributions to the country’s economy through their respective business segment.
For the last few years, Bangladesh exports are showing good performance. This is because of the government initiatives were taken to diversifying products and market, said Tofail Ahmed. He was present there as chief guest.
For the garment sector, Bangladesh government has increased cash incentives from 3% to 4% for exports in the non-traditional export destination to diversify the market, said Ahmed. We also offered cash incentives for nine new products this year, he added.
The Hong Kong and Shanghai Banking Corporation (HSBC), on a regular basis recognizes exporters for their leadership in promoting the country’s economy and maintaining a sustainable growth in earnings.
In the selection process for the award, companies’ corporate social responsibility practices, regulatory compliance, sustainable business practices, contribution to the local economy are taken into consideration.
Bangladeshi English daily the Daily Star, Bangla daily the Prothom Alo, research organization Nielsen Bangladesh and KPMG were program partners of this year’s event.
DBL Group, a leading exporter of apparel products, has won the award as the exporter of the year in the readymade garments category. The company exported products worth more than $100 million।
In the same category, Urmi Group, another clothing product has won the award for its annual export turnover of less than $100 million.
As a manufacturer of quality garments accessories and for maintaining good supply chain, Etafil Accessories became the exporter of the year in the backward linkage category for an annual export turnover of $10 million.
MA Jabbar, Managing Director of DBL Group, Gulzar A Chowdhury, Managing Director of Etafil Accessories and Asif Ashraf, CEO of Urmi Group, received the crests on behalf of their respective companies.
Addressing as the special guest, Bangladesh Bank Governor Fazle Kabir said: “manufacturers have to be ready to face the difficulties after the graduation from LDC to developing country status by 2024.”
HSBC deputy CEO and country head of wholesale banking of Bangladesh Md Mahbub ur Rahman said: “exporters are taking Bangladesh economy to a new level through their contributions in exports and job creation.”
“So, for their tireless efforts and contributions to the country’s economy, we give them recognition to encourage others,” he added.