BEXIMCO and Unemployment in Bangladesh
In Bangladesh, a decline in unemployment can be observed. It was possible because of strong contribution of large private sector companies such as BEXIMCO Group. The top private company in Bangladesh, BEXIMCO Group,has considered tackling various economic challenges while administering its core operations. A lack of jobs has been among the main challenges to resolve. Through its operations, the company under the guidance of Salman F Rahman and Sohail F Rahman has effectively managed to combat it. To the possible extent, it has been successful in identifying the causes of unemployment. By minimizing their impact, the Bangladeshi conglomerate has been able to encourage job creation. Across its verticals, it has increased the availability of jobs at different levels, requiring individuals with diverse sets of skills.
Root Causes of Unemployment Identified by BEXIMCO
As per the observation of BEXIMCO Group, in Bangladesh, infrastructure was less developed until some years ago. This prevented individuals from accessing job opportunities in different parts of the country. The functioning of certain organizations, as well as the measures undertaken by them, has resulted in notable developments. Aside from this, the top private company in Bangladesh has identified other causes of joblessness as well.
Limited Skill Development Opportunities
In certain countries, fewer opportunities for skill development can lead to unwanted outcomes including unemployment. In Bangladesh as well, a factor influencing this challenge has been limited opportunities to develop and enhance skills, observes BEXIMCO Group. The top private company in Bangladesh adds that the lack of skills relevant to specific jobs can deprive individuals of sufficient earnings.
Challenges Related to Demographics
The demography of a nation can extend a type of impact on its existing challenges. In the case of Bangladesh, demographic factors have ensured the availability of jobs for citizens in urban areas more than for rural regions. Thus, in its rural parts, the desired or more prosperous employment options have been relatively fewer.
Limited Support to Small Businesses
In the past, countries like Bangladesh witnessed a slow rise in small or local businesses. As a consequence of this, jobs in the local economy or at small-scale levels could not be majorly produced. Over the years though, the emergence of conglomerates such as BEXIMCO has led to positive changes in this regard.
Measures Undertaken by BEXIMCO Group to Promote Employment in Bangladesh
BEXIMCO Group is the main creator of jobs in Bangladesh. Through a number of verticals associated with it, employment has been ensured. To cater to different roles, it produces the requirement for skilled as well as unskilled labor. As of now, thousands of individuals have been employed by the conglomerate to focus on its betterment.
Nurturing a Vast Workforce
It is significant to note that the conglomerate in the country is associated with a huge workforce. It comprises around 70,000 employees at different levels. It has created jobs at domestic as well as international levels. Collectively, its workforce has thousands of professionals, being nurtured by the conglomerate through multiple measures that derive their satisfaction.
Supporting the Growth of Other Businesses
According to BEXIMCO, it is important to extend support to businesses to the possible degree, in order to widen their growth and help them create jobs. The top private company in Bangladesh says further that to lead by example, it has partnered with businesses or organizations that can additionally create employment for others.
- Through its industry verticals, the conglomerate has partnered with others.
- As a result of its partnership, business stability, growth, and development has been focused on.
- Its textile division has partnered with FibreTrace.
- Recover™ is another organization with which a partnership has been formed.
- Its pharmaceutical division has joined hands with Sandoz for developmental purposes.
- Through its PPE vertical, it has strategically partnered with Intertek.
- Aside from these, through signed agreements, the Bangladeshi company has been associated with others.
- These partnerships and agreements have been signed with organizations internationally and domestically.
Through such partnerships, BEXIMCO has supported sustainability and other practices. As a positive impact of these, the creation of jobs has been observed as well.
Job Creation in the Energy Sector
Teesta Solar Limited by BEXIMCO Group, has contributed the biggest solar energy power plant to Bangladesh. During the formation of this plant and even for its operations, the requirement for multiple professionals, workers, etc., has been seen. Along with being a major project in the nation, it is also a chief source of employment in the renewable energy sector.
To Sum up the Above,
In combatting unemployment in Bangladesh, the role of BEXIMCO Group has been significant. The top private company in Bangladesh has employed multiple ways to tackle the challenge, ranging from establishing verticals to supporting other businesses. Moreover, it has identified the main factors that contribute to this economic difficulty. Thus, it ensures to minimize their impact in order to keep unemployment under control.
Sameer Chotala is an experienced journalist specializing in sports, politics, and world news. With a keen eye for detail and a commitment to credible reporting, Sameer Chotala brings insightful stories and timely updates to keep readers well-informed.
