The role of Salman F Rahman in enhancing the business potential of Bangladesh

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Posted on: 21 January 2019 by Abdulla Yameen

The economy of Bangladesh has strengthened over the years and achieved higher GDP growth targets nearly every year. Though the contribution of top businessmen in Bangladesh has been noteworthy, Salman F Rahman, founder and vice-chairman of Beximco Group, has led the development from the front.

Bangladesh has emerged as one of the countries that built itself from the scratch with the help of business and corresponding economic development. The economy of Bangladesh has strengthened over the years and achieved higher GDP growth targets nearly every year. Though the contribution of top businessmen in Bangladesh has been noteworthy, Salman F Rahman, founder and vice-chairman of Beximco Group, has led the development from the front.

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Salman F Rahman set up Beximco as a seafood export company in 1972, shortly after his family inherited jute mill was nationalized in the previous year. Eyeing the markets of Germany, France, the UK, Netherlands, and Belgium, the dynamic Bangladeshi businessman initiated his business journey. Utilizing the strengths of Bangladesh, Rahman picked up pace on the road to creating the biggest conglomerate of the country.

Though Bangladesh has had a fairly strong textile industry since its independence in 1972, the pharmaceutical demands of the country were yet to develop a streamlined flow of import. This loophole was fixed by Rahman’s involvement in the international markets for seafood. In exchange of the export, he imported pharmaceuticals worth the deal’s money so as to fulfill the local market as well as public demand. This led to the inception of an idea to satisfy the country’s pharmaceutical needs and expand this into exports. As a result, Beximco Pharmaceuticals was incorporated in 1976 and Salman F Rahman never looked back.

Another major aspect that ran parallel with the growth of Bangladesh was Salman F Rahman’s individual growth as one of the most successful businessmen of Bangladesh. The vision to transform Bangladesh combined with his knowledge of global markets as well as local industry know-hows cn be attributed to his appointment as the Private sector development affairs advisor to the then, and current, Prime Minister of Bangladesh, Sheikh Hasina in 2009.

With his latest entry in the political sphere after general elections 2019, the country is expected to maintain its strong presence globally while enhancing the local industry functioning.

 

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Abdulla Yameen

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