Bangladesh Economic & Infrastructure Development - Updates & Discussions
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Bilal9
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Dhaka Shahjalal airport 3rd terminal update (sorry Bangla only). The terminal was designed by Architect Rohani Baharin of CPG associates in S'pore, who also designed the new Ahmedabad and new Islamabad Airports, as well the 3rd terminal at Changi in S'pore.
www.cpgcorp.com.sg
Rohani BAHARIN
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Bilal9
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Karnaphuli river crossing tunnel story. This is one of the longest under-river road tunnels in South Asia (probably the only one) which will connect the North shore (Halishahar area) to South shore of the Karnaphuli (Anowara Area) where new terminals for Chittagong port and EPZs will be built. Korean EPZ and other installations are already there. The tunnel will also ease city-bypass connections to points further South such as Matarbari Port/Power Generation Plant and EPZs in Cox's Bazaar.
Bilal9
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How local Bangladeshi electronics brands tackled foreign brands in their home market. (Sorry Bangla only)
The market size of Bangladesh’s consumer electronics sector is $2.28 billion, which is expected to reach $10 billion by 2030. This growing sector of Bangladesh has already become self-sufficient. Bangladesh’s brands are now the market leader in most of the product categories in the consumer electronics sector of Bangladesh, which was once 100 percent import-dependent. Walton, a Bangladeshi brand, leads the market in almost every category. In this context, to meet the local market’s demand and after seeing the success of the Bangladeshi brands, several international brands have also started manufacturing locally. However, the dominance of Bangladeshi brands is highest in every sector of the major product category of this sector. But, how have Bangladeshi brands brought such a change in the country’s consumer electronics sector?
Later, MyOne and a few other companies started doing business in Bangladesh. At that time, these domestic companies started putting together products in the country by importing all kinds of electronic parts and components. But as the market for electronic appliances grows, these companies slowly switch from assembling to making. They import a few technical parts, but the rest of the parts are being made locally. With the opening of Walton Hi-Tech Industries LTD in 2007, Walton started making refrigerators, freezers, and air conditioners in its own factory. When Bangladeshi brands like Walton Electronics and home appliances began to be priced similarly to international brands, more people started to buy them. Because of Walton’s success, other local brands have started making more home appliances. As a result, local brands tend to have more competitive prices than foreign brands. Several international brands have started making their products in Bangladesh in partnership with Bangladeshi companies. They do this so that their prices can be more competitive with those of local brands. In 2017, the South Korean tech company Samsung set up two factories in Bangladesh with the help of Transcom Group and Fair Electronics. In 2018, another South Korean giant, LG, set up a manufacturing plant with a local partner, Butterfly. In May 2021, Singer set up its washing machine manufacturing plant.
Transcom Group and Fair Electronics helped Samsung open two factories in Bangladesh in 2017.
Similarly, Butterfly partnered with LG to set up a manufacturing plant in 2018.
However, while assembling a product, most of its parts and pieces had to be brought in from other countries, which was a very expensive process. So, even if they wanted to, brands couldn’t lower the prices of their products. When all of these brands start making all products in the country, the costs of making them will go down significantly. As a result, brands continue to sell their products at reasonable prices to local customers. Because the prices of local brands were so low, the prices of international brands that were selling their products in Bangladesh at the time had to go down as well. So, it’s a win-win situation for the country’s consumers as well.
In later years, local brands started to improve the quality of their products and make them more affordable. As a result, the domestic market for electronics has become more competitive. Customers have always liked foreign brands because of their brand value and reliable quality, but they are leaning more and more toward local brands because they offer affordable quality products. And local brands are using dealerships to grow their businesses in rural and semi-rural areas of the country to meet the growing demand for consumer electronics.
Urban customers can use credit cards to get EMI perks, but it’s nearly hard for rural customers to do the same. ‘Area-based dealers may often sell products in monthly or easy installments, which is not viable for worldwide brands because of their familiarity with the local population. For example, Walton is one of the Bangladeshi brands that has about 20,000 sales outlets all over the country. This means that people in even the most remote parts of the country can buy its products.
Walton has approximately 20,000 sales outlets all across Bangladesh.
Also, this industry’s biggest challenge is ensuring customers get good service after the sale. And this problem is more common in rural and suburban areas, as well as with international brands. Since they started making products in the country, local brands have put a lot of thought into customer service after the sale. Because of this, customers can now get service after the sale in departmental and district cities. Consequently, the propensity of customers to purchase products from domestic brands has also increased. Currently, Walton has 77 service points all over the country. It has also started storing the customer’s name, address, mobile phone number, product model, and barcode on an online server to make after-sales service easier for the customer. So, even if customers lose their warranty card, they can easily get service at the service point.
Typically, international brands build their products with global consumers’ preferences in mind. So, these products have numerous useless or unwanted features for Bangladeshi buyers. On the other hand, local brands choose and design their products’ features based on how local customers use them and what they like. Because of this, features made by local brands are more useful to customers, and customers also prefer to buy products from these local brands.
Due to this, local brands are currently leading the market in most of the major home appliances or consumer electronics as well as small electronics categories. Walton has been the best local brand in almost every category. For example, the electronics giant Walton is responsible for 75 percent of all refrigerators sold in the country. Also, Marketing Watch Bangladesh says that local manufacturers meet 52 percent of the demand for TVs in Bangladesh, with Walton at the top of the list with a market share of more than 25 percent. Besides Walton, Singer has 9 percent of the television market, Minister has 4 percent, Vision has 3 percent, and Jamuna has 2 percent. Not only that, but 65 percent of the country’s AC demand is met by local manufacturers, along with TVs and refrigerators.
Walton currently holds 75% share of the total number of refrigerators sold in Bangladesh.
52% of the television market of Bangladesh is dominated by local manufacturers and the rest is owned by global manufacturers.
Along with the market for major home appliances, the need for small home appliances in Bangladesh is enormous and expanding rapidly. Even in this category, a lot of the local demand in Bangladesh is met by local brands. From this, it’s easy to see that Bangladeshi electronics manufacturers are now able to complete a large portion of the country’s demand for consumer electronics.
At present, these local brands are exporting their products globally after meeting the local demand. For example, Walton is currently exporting its products to 40 countries worldwide and plans to export to a total of 125 countries by 2025. As a result, a total of $6.23 million worth of AC and machinery have been exported from Bangladesh in FY 2020-21. In addition, according to an EPB source, in the same financial year, the volume of refrigerator and equipment exports from Bangladesh exceeded $12 (12.283) million.
Also, popular international brands are also doing business in the Bangladeshi market by operating their own manufacturing units. Therefore, in the near future, Bangladesh has a special potential to become a manufacturing hub for global consumer electronics. If so, Bangladesh’s reputation in the global market will further increase as well as enrich the country’s economy.
Considering all factors above, it is easy to understand that the local manufacturers in Bangladesh have already changed the consumer electronics sector of the country.
Not only that, but it has made a significant contribution to turning the country into a consumer electronics market which is almost self-sufficient.
Rise of Bangladeshi Consumer Electronics Manufacturer
June 23, 2022
The market size of Bangladesh’s consumer electronics sector is $2.28 billion, which is expected to reach $10 billion by 2030. This growing sector of Bangladesh has already become self-sufficient. Bangladesh’s brands are now the market leader in most of the product categories in the consumer electronics sector of Bangladesh, which was once 100 percent import-dependent. Walton, a Bangladeshi brand, leads the market in almost every category. In this context, to meet the local market’s demand and after seeing the success of the Bangladeshi brands, several international brands have also started manufacturing locally. However, the dominance of Bangladeshi brands is highest in every sector of the major product category of this sector. But, how have Bangladeshi brands brought such a change in the country’s consumer electronics sector?
Overview
Compared to the previous year, the per capita income of Bangladeshis has climbed to $2,824 at present. Also, because Bangladesh is becoming more and more urbanized, people’s buying habits and how they spend their money have changed a lot. According to a report in The Daily Star, all of Bangladesh’s people will have access to electricity in 2022, whereas only 47 percent did in 2009. Once upon a time, Bangladesh’s consumer electronics industry was nearly reliant on imports, and now it’s one of the fastest-growing industries in recent years. In the 1980s, Bangladesh started building assembly plants to make small electronics like radio, TV, audio, and video cassette players. This made the country less reliant on importing electronics. Walton’s journey in the Bangladeshi electronics market began in 1997.Later, MyOne and a few other companies started doing business in Bangladesh. At that time, these domestic companies started putting together products in the country by importing all kinds of electronic parts and components. But as the market for electronic appliances grows, these companies slowly switch from assembling to making. They import a few technical parts, but the rest of the parts are being made locally. With the opening of Walton Hi-Tech Industries LTD in 2007, Walton started making refrigerators, freezers, and air conditioners in its own factory. When Bangladeshi brands like Walton Electronics and home appliances began to be priced similarly to international brands, more people started to buy them. Because of Walton’s success, other local brands have started making more home appliances. As a result, local brands tend to have more competitive prices than foreign brands. Several international brands have started making their products in Bangladesh in partnership with Bangladeshi companies. They do this so that their prices can be more competitive with those of local brands. In 2017, the South Korean tech company Samsung set up two factories in Bangladesh with the help of Transcom Group and Fair Electronics. In 2018, another South Korean giant, LG, set up a manufacturing plant with a local partner, Butterfly. In May 2021, Singer set up its washing machine manufacturing plant.
How Did The Scenario Change?
One by one, brands like MyOne, Vision, and Marcel joined Walton as assemblers in the electronics market of Bangladesh. From the start, Bangladeshi brands were very aware of how much their products cost. In 2002, the per capita income of a person living in Bangladesh was only $413. Because of this, most people in the country at the time could not afford to buy major electronics like TVs, refrigerators, air conditioners, or washing machines at higher prices. Because of this, local companies started to offer products at lower prices than international brands by assembling them locally. Afterward, when companies started making their products locally, it was easy for them to lower their costs even more.However, while assembling a product, most of its parts and pieces had to be brought in from other countries, which was a very expensive process. So, even if they wanted to, brands couldn’t lower the prices of their products. When all of these brands start making all products in the country, the costs of making them will go down significantly. As a result, brands continue to sell their products at reasonable prices to local customers. Because the prices of local brands were so low, the prices of international brands that were selling their products in Bangladesh at the time had to go down as well. So, it’s a win-win situation for the country’s consumers as well.
In later years, local brands started to improve the quality of their products and make them more affordable. As a result, the domestic market for electronics has become more competitive. Customers have always liked foreign brands because of their brand value and reliable quality, but they are leaning more and more toward local brands because they offer affordable quality products. And local brands are using dealerships to grow their businesses in rural and semi-rural areas of the country to meet the growing demand for consumer electronics.
Urban customers can use credit cards to get EMI perks, but it’s nearly hard for rural customers to do the same. ‘Area-based dealers may often sell products in monthly or easy installments, which is not viable for worldwide brands because of their familiarity with the local population. For example, Walton is one of the Bangladeshi brands that has about 20,000 sales outlets all over the country. This means that people in even the most remote parts of the country can buy its products.
Walton has approximately 20,000 sales outlets all across Bangladesh.
Also, this industry’s biggest challenge is ensuring customers get good service after the sale. And this problem is more common in rural and suburban areas, as well as with international brands. Since they started making products in the country, local brands have put a lot of thought into customer service after the sale. Because of this, customers can now get service after the sale in departmental and district cities. Consequently, the propensity of customers to purchase products from domestic brands has also increased. Currently, Walton has 77 service points all over the country. It has also started storing the customer’s name, address, mobile phone number, product model, and barcode on an online server to make after-sales service easier for the customer. So, even if customers lose their warranty card, they can easily get service at the service point.
Typically, international brands build their products with global consumers’ preferences in mind. So, these products have numerous useless or unwanted features for Bangladeshi buyers. On the other hand, local brands choose and design their products’ features based on how local customers use them and what they like. Because of this, features made by local brands are more useful to customers, and customers also prefer to buy products from these local brands.
Due to this, local brands are currently leading the market in most of the major home appliances or consumer electronics as well as small electronics categories. Walton has been the best local brand in almost every category. For example, the electronics giant Walton is responsible for 75 percent of all refrigerators sold in the country. Also, Marketing Watch Bangladesh says that local manufacturers meet 52 percent of the demand for TVs in Bangladesh, with Walton at the top of the list with a market share of more than 25 percent. Besides Walton, Singer has 9 percent of the television market, Minister has 4 percent, Vision has 3 percent, and Jamuna has 2 percent. Not only that, but 65 percent of the country’s AC demand is met by local manufacturers, along with TVs and refrigerators.
Walton currently holds 75% share of the total number of refrigerators sold in Bangladesh.
Along with the market for major home appliances, the need for small home appliances in Bangladesh is enormous and expanding rapidly. Even in this category, a lot of the local demand in Bangladesh is met by local brands. From this, it’s easy to see that Bangladeshi electronics manufacturers are now able to complete a large portion of the country’s demand for consumer electronics.
At present, these local brands are exporting their products globally after meeting the local demand. For example, Walton is currently exporting its products to 40 countries worldwide and plans to export to a total of 125 countries by 2025. As a result, a total of $6.23 million worth of AC and machinery have been exported from Bangladesh in FY 2020-21. In addition, according to an EPB source, in the same financial year, the volume of refrigerator and equipment exports from Bangladesh exceeded $12 (12.283) million.
Also, popular international brands are also doing business in the Bangladeshi market by operating their own manufacturing units. Therefore, in the near future, Bangladesh has a special potential to become a manufacturing hub for global consumer electronics. If so, Bangladesh’s reputation in the global market will further increase as well as enrich the country’s economy.
Considering all factors above, it is easy to understand that the local manufacturers in Bangladesh have already changed the consumer electronics sector of the country.
Not only that, but it has made a significant contribution to turning the country into a consumer electronics market which is almost self-sufficient.
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Bilal9
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Among these projects - I believe the only project that will have doubtful implementation is the DHK-CTG Express Railway AKA "Bullet Train". No one responsible in my govt. advisor's contacts believe it is either practical, feasible or will have any profitable ROI. BG Container train infra (double stack and multi lashups) at much lower cost and shoring up bridges and trackage to enable this will provide much better return. Showcase projects are the last thing we need right now.
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Bilal9
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@UKBengali @Bilal9 @Atlas @mmr @bluesky
Sri Lanka crisis is a warning to Bangladesh and other Asian nations: IMF
"For economies running current account deficits - such as Bangladesh, Pakistan and Sri Lanka - governments face serious headwinds in increasing subsidies. Pakistan and Sri Lanka have turned to the IMF and other governments for financial assistance,"www.tbsnews.net
The state minister said, "From today, production at diesel-run power plants will be stopped. As a result, there will be 1,000MW less electricity produced. Following this, load shedding will increase across the country periodically. Load shedding will occur for one hour throughout the country periodically."
"We also have a gas crisis. Due to this reason as well, electricity generation has decreased," he said.
"The total electricity generation will decline by 1,500-2,000MW. When the power outage will occur and in which areas, we will inform in advance," he added.
When asked about petrol pumps, he replied, "A final decision on the closure of petrol pumps is yet to be taken. We will discuss the issue. The decision will be taken with consultation of the concerned, including the fuelling station owners."
Diesel-run power plants to shut down from today, load sheddings to go up
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that diesel-run power plants will remain closed from today (July 18, 2022).www.thedailystar.net
Markets to close at 8pm, use of ACs restricted in religious places to save electricity
The government has asked to close shops and markets at 8pm daily as part of its measures to save electricity amid global fuel crisis. Punitive actions will be taken if anyone keeps their shops open after the time, according to a decision taken by the Prime Minister's Office on Monday. Besides...
How does this post of yours belong here??
The thread is for "economic-infrastructure-development" and to post news on mostly new industries and infra being constructed. SMH. Please don't post off topic posts like this here.
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RAK Ceramics to set up bathroom fittings plant
Star Business Report
Fri Jul 22, 2022 12:00 AM Last update on: Fri Jul 22, 2022 09:35 AM
RAK Ceramics (Bangladesh) will invest Tk 95 crore to set up a bathroom fittings plant with the capacity to produce 1,500 faucets, shower heads and all other related accessories in a bid to provide cheaper alternatives to imports, according to company officials.
The listed multinational ceramics brand yesterday informed the Dhaka Stock Exchange of its decision, which follows the company's previous plan to enter the tiles market.
Early last month, RAK Ceramics announced that it would invest Tk 902 crore in a greenfield facility to raise its tile production capacity by 15,000 square metres per day.
"As Bangladesh has huge potential in the coming days, we opted to increase production and grab a bigger share of the market," said Muhammad Shahidul Islam, company secretary of RAK Ceramics.
"Now, we are going to produce all bathroom fittings. We will soon start building the plant, which may take nearly a year to begin production," he added.
Islam went on to say that at present, most locally produced bathroom fittings are of low standard but people prefer significantly more expensive high-quality products that are imported.
RAK Ceramics aims to produce alternatives to these imports so that customers can get quality products at competitive prices.
Bilal9
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One of the numerous optical lens manufacturing units in Bangladesh that has existed in Chittagong for three decades. Their supplied high precision convex/concave and aspherical lenses are supplied to almost all Japanese Digital Camera, CCTV, Scanner, photocopy and Projector brands including,
Fujifilm, Kenco, Ricoh (Pentax), Epson, Olympus, Topcon, VTS Tech etc.
To the interest of defense enthusiasts here, they also make lenses for gunsights including collimator sights, telescopic sights and also survey (theodolite) as well as medical device lenses for MRI and CATscan machines.
Fujifilm, Kenco, Ricoh (Pentax), Epson, Olympus, Topcon, VTS Tech etc.
To the interest of defense enthusiasts here, they also make lenses for gunsights including collimator sights, telescopic sights and also survey (theodolite) as well as medical device lenses for MRI and CATscan machines.
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Bilal9
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In Bangladesh, riverine ferries (launches) are 100% made locally and are customized (size, duration, passenger load) for certain routes. Engines however are sourced from Japanese or Chinese manufacturers.
This typical mid-size vessel (LOA 40 ft.) shown below will serve the Dhaka-Chandpur route which is a 3 hour one-way trip. The vessel uses two 1400 HP six cylinder YANMAR diesels and is called "MV Ab-e-Jam-Jam-7". As can be seen - the fare-paying clientele decides the sophistication of these vessels and since most of them are middle class folks - this is not a luxury oriented vessel. However there are still four "presidential suite cabins" with rather luxurious accommodations on this particular vessel.
This typical mid-size vessel (LOA 40 ft.) shown below will serve the Dhaka-Chandpur route which is a 3 hour one-way trip. The vessel uses two 1400 HP six cylinder YANMAR diesels and is called "MV Ab-e-Jam-Jam-7". As can be seen - the fare-paying clientele decides the sophistication of these vessels and since most of them are middle class folks - this is not a luxury oriented vessel. However there are still four "presidential suite cabins" with rather luxurious accommodations on this particular vessel.
Bilal9
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A solution to health emergency
IDLC offers ‘boat ambulance’ service to people in remote chars
In remote river islands, locally called char, in Rangabali, Patuakhali, where it is hard to connect people to various service centers, IDLC has come up with an initiative to introduce ‘boat ambulance’ to save lives when emergency healthcare service is required.
The inhabitants of the char areas of Rangabali have to face a lot of risks that may even cost them their lives for lack of suitable transport facilities. Mostly pregnant women and some with postpartum complications are at serious risk and some patients even die when they fail to reach the hospital in time. To serve the people in remote chars, a ‘Boat Ambulance’ project has been launched at a cost of Tk 2.9 million. It is managed by Avijatrik Foundation with funding from IDLC Finance Limited. It is aimed at providing emergency transport services to around 150,000 people of Rangabali in the southern district of Patuakhali.
People of each of the chars have to go by boat to Galachipa Health Complex, 20 kilometers away, for medicare and it takes three hours or so to reach Patuakhali Sadar Hospital, which is 40 km away. However, the boat ambulance, which can carry up to 10 people, can reach patients from any of the five unions of Rangabali to the nearest hospital within 20–30 minutes.
The boat ambulance has medical facilities such as oxygen and emergency medicines. Full-time health workers accompany the patient/s in the ambulance.
Avijatrik Foundation president Ahmed Imtiaz Jami said that they have been working in Rangabali to support the local people for three years. ‘I think the boat ambulance will help the people in the remote areas in availing emergency medical services.’
The unique initiative of boat ambulance is not only a solution to the Rangabali people but is also a model that could be replicated by other organizations to help the people in backward areas who are not getting proper healthcare services. In a sense, boat ambulance offers smoother services compared to the movement of ambulance on roads that is often affected by gridlock.
Even in Dhaka city, ambulance cannot always reach the destination due to traffic congestion. In a country like Bangladesh which is crisscrossed by rivers and where there are huge marshy areas, water ambulance is also a viable concept to ferry patients from one place to another.
-Elora Majumder
A Visionary Leader
At the onset of COVID-19 pandemic in March 2020, the Bangladesh higher education community witnessed how bold move and appropriate strategy can make a difference. Leading from the front, Professor Vincent Chang, Vice-Chancellor of BRAC University, made courageous decisions with equanimity and a smile. It was the first university to end the semester early, made sure that the academic integrity was not compromised, launched its own online learning platform enabling the students to resume classes and allow easy access from any part of the country. A visionary leader, Professor Chang, who dreams of transforming the seat of learning into a research university and putting it on the world map, shares his passion for excellence with the Advisory Editor of Colors Ziaul Karim.
Professor Vincent Chang’s mission is to see BRAC University featured prominently on the world university rankings
Big changes require a great deal of courage, proper strategy and correct implementation of the strategy. This process was witnessed by the Bangladesh’s higher education community when the pandemic hit Bangladesh in March 2020. During that time, Professor Vincent Chang, Vice-Chancellor of BRAC University, stood tall in the face of challenges, made great and daring decisions with his bright smile still there. He believes in doing what is the right and keeping the students wellbeing in check. One of the greatest and first applications of his education philosophy became visible when the country was hit by the pandemic — BRAC University was the first university in the country to end the semester early, prior to any formal instructions from the UGC. In making this decision, Professor Chang made sure that the academic integrity was not compromised. Then, BRAC University launched its own online learning platform, which is the first of its kind in Bangladesh. This enabled the students to resume classes and allow easy access from any part of the country.
Professor Vincent Chang joined BRAC University in February 2019. He has earned his Bachelor of Science in Electrical Engineering from National Taiwan University, MBA from Yale, Master’s in Public Administration from Harvard, PhD in Economics from Massachusetts Institution of Technology (MIT) and another PhD in Electrical Engineering and Computer Sciences from the University of California at Berkeley.
“Knowledge of languages is the doorway to wisdom” – a statement that fits rightfully for Professor Vincent Chang. His wisdom comes from not only these astounding degrees but also from his diverse knowledge in English, Chinese, Japanese, French and Arabic languages. This diversity of knowledge is well portrayed in his personality as a modern-day executive – a daring and strong person with the perfect touch of humor, who works strategically to make not only immediately visible changes but also those that will sustain in the long run. As such, Professor Chang, after joining BRAC University, has so far re-structured and created the Graduate School of Management, School of Data and Sciences, School of Engineering, School of Architecture and Design, and School of General Education. This reformation of BRAC University is a step that has not been taken by anyone so far.
Professor Vincent Chang is an expert in strategy, implementation and communication, hence holding the fundamentals required and expected from a visionary and a leader. The bold and effective steps were not made overnight. He has an outstanding record of building a new graduate school, a new university and new businesses.
Prior to joining BRAC University, he served as inaugural chair of institutional development at Chinese University at Hong Kong in China. He has also previously served as founding president and planning director of a new university of American model, and as the inaugural executive dean of Peking University’s HSBC Business School, which was China’s first all-English International Business School.
Professor Chang’s experience is not only limited to academia but also ranges over investment, marketing, consulting, energy and medical imaging in California’s Silicon Valley and New York’s Wall Street. He has worked in renowned institutions such as JP Morgan, McKinsey, ExxonMobil, and the US Federal Reserve. With such a rich and diverse basket of knowledge and expertise, Professor Chang now aims to take BRAC University to international heights.
As Professor Chang has shared with us, during his journey with BRAC University so far, the biggest challenge has been something that we may all agree on in the obstinate thought process of our community. Discouragement is very common amongst workplaces here, regardless of the role in the institution and even Professor Chang has had to face it. Although, some approved and supported his efforts, initially it was not the case since people were skeptical of changes and reforms.
Yet, Professor Chang made it happen and did so with humor and grace! Taking these big steps was not easy because physical changes are easily visible to the eye but psychological changes are not. The reform that Professor Chang has brought to BRAC University involves change in people’s perception and outlook of higher education.
As Vice-Chancellor of BRAC University, he sees himself and his university as the only goose flying into the unchartered sky of Bangladesh’s higher education. As a first step to put BRAC University on the map, he had invited Ban Ki-moon, former Secretary-General of United Nations (2007-2016) as the keynote convocation speaker in November 2019. The presence of such an important figure had surely brought BRAC University to the attention of the international higher education arena.
Professor Vincent Chang’s motto to achieve his goals and fulfil his vision has been ‘do what is right’ and ‘no favor, no fear.’ He considers himself a daydreamer – dreaming with his eyes open to visualize his dreams into reality. Professor Chang’s one of these dreams is that of late Sir Fazle Abed. Sir Fazle Abed dreamt of turning BRAC University into ‘the Harvard of South Asia.’ Although the university is currently far away from this goal, the senior management team put together by Professor Chang exhibits the caliber of ‘the Harvard of South Asia.’ The new senior management includes experts from across the world to manage schools and departments of BRAC University.
According to Professor Vincent Chang, in the long term, BRAC University should be able to offer the experience that students will carry 20-30 years down the line into their life from the point of graduating. Professor Chang believes that a high CGPA and employability should not be the key goal of a university. Rather the experience and knowledge that the university provides should be of utmost priority. Professor Chang is also working to turn BRAC University into a research university from a teaching university. The key ingredient for this is investment in research and building the infrastructure for research while incentivizing and accommodating the faculties. In this era of commercialization of education, maintaining quality of education is difficult but very important. Professor Chang has hence put forth the new standard that no faculty can be promoted to be an assistant professor without a PhD degree.
Professor Vincent Chang, when interviewed by Colors Magazine, shared his aspirations for BRAC University as an international university from Bangladesh by the end of this decade. The road to becoming an internationally acclaimed university is going to be long and full of obstacles, but Professor Vincent Chang is determined to transform BRAC University into an international and research university and a leader of higher education in Bangladesh. Professor Chang, with his vibrant, energetic and valiant personality, is the leader who will and has already set new standards for Bangladesh’s higher education. We hope this will encourage others to follow suit. We also hope that he and his university will have company flying together soon.
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Bilal9
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Women in Leadership
Rumana Chowdhury won the Platinum Business Woman of the year award and there’s no one more deserving. Her courageous endeavors, strong determination and passion are what led her to be the inspiration she is today for all entrepreneurs out there, Tunajina Islam writes.
Rumana’s passion for fashion is the principal factor to the beginning of her venture. She grew motivated to start her own Boutique business through the undying support and encouragement from her friends and family. She started off by working from home but she was determined to make an undeniable presence in the market by setting up her own store, which she finally did through the help of a small bank loan. Surprisingly, Rumana was just a fresh graduate with a toddler son when she first came about the making of Warah in 2008.
It was no easy task balancing her work life and family life and she indeed faced countless setbacks. Tragedies struck when she was forced to relocate and even shut down following the Holey Artisan chaos. Meanwhile clients became doubtful but she took these challenges head-on and never let her customers down. “I couldn’t let my clients down. They were expecting me to deliver” she adds. Nevertheless, she bounced back each time, making sure her hard work never went unnoticed.
Aside from these factors, Rumana experienced much emotional turmoil as being a woman in a business industry has its cruel concerns. She states that “as a woman you naturally have an instinct to keep everyone happy.” She goes on to say that not everyone she expected to be supportive was supportive enough. It’s so important to rely on yourself and keep yourself happy first in order to achieve your dreams. She teaches us that many young girls these days do face the same problems of placing other people’s happiness ahead their own. It’s the way our society is conditioned but we strongly must rewire the youth of today to be more independent. You cannot please everyone when trying to please yourself.
Rumana talks about the huge leap of faith she took when starting Warah. “I have learnt through my mistakes, I knew nothing when I started but I gradually improvised to bring Warah where it is today,” she says. She insists that It’s okay to feel lost sometimes, especially when trying something totally new to you. But you must keep going and take each hump as a learning scope. She adds, “I actually appreciate the tough times a lot now. They made me grow as a person. They showed me that I am actually much braver than I deemed myself to be and that is a beautiful feeling.” All this helped in Rumana’s great successes, as she is now the owner of one of the most popular brands in Bangladesh and gained many other achievements since then including an award at Dhaka Fashion Week 2011. Colors’ platinum business awards is another addition to her great achievements but only a portion of the many more to come.
Warah's latest couture collection
rainbowrascal
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