Dear Fellow Members, Colleagues, and Stakeholders,
At the outset would like to acknowledge the sacrifice made by thousands, including the martyrs who have led us and paved the way for economic, social, and political freedom. We as a business community cannot ever pay back their sacrifices. I humbly pay my respects to the departed souls.
As we release this edition of our monthly bulletin, we focus on "Fast-Moving Consumer Goods (FMCG): Navigating Growth and Opportunities in Bangladesh," a crucial industry in our current economic landscape a cornerstone of our economy, showing robust growth driven by an expanding middle class, urbanization, and evolving consumer preference- es. This sector continues to offer abundant opportunities for both local and foreign investors, with technology and e-commerce further enhancing its potential.
Recent periods we have seen the economic depravity marred by geopolitical tensions, inflation, economic slowdown, and the social unrests which has challenged the industry. The FMCG industry, which relies heavily on timely communication and efficient logistics, faced disruptions that underscore the need for resilient strategies. Despite these challenges, the sector demonstrated remarkable adaptability. Businesses swiftly leveraged alternative communication channels and reinforced logistics networks to minimize disruptions. Moving forward, it is essential that we continue to build a more robust and adaptable FMCG industry in Bangladesh-one capable of withstanding external shocks while continuing to deliver value to consumers.
These events also emphasize the importance of dialogue and collaboration between the private sector, government, and civil society. We must work together to ensure that the growth of the FMCG sector and the broader economy remains inclusive and resilient.
At the Foreign Investors' Chamber of Bangladesh, we are committed to supporting our members through these challenging times. We will continue to advocate for policies that foster stability and growth and provide the insights and resources necessary to navigate the opportunities and obstacles in the FMCG sector. Thank you for your continued resilience and dedication to fostering a thriving business environment in Bangladesh.
I would like to express gratitude to all the member companies and industry leaders for their exceptional contributions, which have significantly enriched our bulletin. My appreciation also goes to the patrons, sponsors, and the FICCI Secretariat for their substantial efforts in ensuring the publication of our bulletin.
Warm Thanks and Regards,
Zaved Akhtar
President, FICCI
FICCI Monthly Bulletin | July 2024
