Startups, SMEs to get easy Funds

Bangladeshi hi-tech start-ups and SME entrepreneurs can now receive funding from local and foreign investors by pitching their ideas and enterprises on a platform of the Shenzhen Stock Exchange [SZSE]. The Bangladesh window of the V-Next platform of the SZSE was launched in Bangladesh on May 6 under a strategic investment agreement between the Dhaka Stock Exchange [DSE] and its strategic partner, formed by the SZSE and the Shanghai Stock Exchanges. Today, the platform will be presented to investors and entrepreneurs at a programme at the InterContinental Dhaka hotel. The DSE is the Chief Strategic Partner of the V-Next platform in the country. There are more than 16,000 institutional investors from 39 countries registered on the V-Next. The match-making is algorithm-based and carried out automatically on the basis of pre-defined parameters. More than 1,100 companies have already raised about $5 billion using the platform. The window will facilitate the country’s listed and non-listed companies to explore equity and strategic partnership, seek business collaboration, and diversify business and technology channels in China, according to Officials. The DSE has another platform for SME entrepreneurs, named DSE SME, where entrepreneurs need to be listed to raise funds, but V-Next will allow them to mobilize funds without being listed. A company needs to have a minimum paid-up capital of Tk 5 crore.

Source: https://www.thedailystar.net/business/news/startups-smes-get-easy-funds-1810360

 E-commerce giant ‘Ek-Shop’ reshaping Rural Economy

Bangladesh’s unique E-Commerce ecosystem ‘Ek-Shop’ has been changing the rural economic landscape through linking people with such local and foreign platforms. Income generation aside, according to Officials and beneficiaries, it gives a direct market opportunity to sell or buy products in rural areas where fair marketing is still a far cry. Ek-Shop is an automated one-stop marketplace where major local e-commerce sites, delivery providers and digital transaction companies are connected. From beauty products to air-conditioner and clothing items to medicines, ruralites are now buying stuff online. It saves time, money and energy. Placing an order on Ek-Shop to buy things is plain and simple. Visit a Union Digital Centre [UDC], go to your desired site and you take delivery of the goods within four days by a logistic company in your area. Under the facility, an entrepreneur in a remote village can upload his/her products for sale and e-commerce firms showcase those at home and abroad. Through this platform, rural entrepreneurs trade traditional products like handicraft, betel nut, shitalpati [locally made mat], nakshikantha [patchwork quilt] and sundry other perishable items. This Ek-Shop automated system is fast changing rural economy as local people sell items like shitalpati, coconut, betel nut and nakshikatha. It served almost 0.3 million people until August 2019 and made transactions to the tune of Tk 40 million, according to the Official.

Source: http://today.thefinancialexpress.com.bd/trade-market/e-commerce-giant-ek-shop-reshaping-rural-economy-1570376386

Dhaka to seek Duty-free access of 300 Nepalese Products

Bangladesh will request Nepal to allow duty-free market access of its 300 products during the upcoming bilateral technical committee meeting in Kathmandu, Nepal this month. Besides, issues of offering long term business visa for Bangladeshis as well as ensuring roads and railways connectivity [mainly for cargo services] will also come up for discussion. The Ministry of Commerce [MoC] has prepared the agenda to be discussed during the “4th Nepal- Bangladesh additional/ joint secretary level technical committee meeting” on October 22-23. The Nepal side is expected to submit their list of products to Bangladesh, seeking zero-tariff market access. There is a possibility of signing a memorandum of understanding between the Trading Corporation of Bangladesh [TCB] and the Salt Trading Corporation of Nepal for greater cooperation. Investment in Nepal’s power sector, bilateral investment promotion and protection agreement [BIPPA] between the two countries, enhancing truck/ transport and railway connectivity, and improving infrastructures along the agreed transit routes and land customs stations will also come up for discussion. The bilateral trade between Bangladesh and Nepal is increasing day by day. The two way trade is tilting in favor of Bangladesh. Bangladesh mainly exports woven garments, knitwear, home textile, agro-products, footwear and raw jute. The country mainly imports vegetable products, prepared foodstuffs, mineral products, products of the chemical or allied industries, wood and articles of wood and wood charcoal etc.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/dhaka-to-seek-duty-free-access-of-300-products-1570378361