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DT 12 Business TUESDAY, DECEMBER 13, 2016 CAPITAL MARKET SNAPSHOT: MONDAY DSE Broad Index 4,869.6 0.2% ▲ Index 1,157.1 0.2% ▲ 30 Index 1,785.6 0.1% ▲ Turnover in Mn Tk 7,412.4 -10.0% ▼ Turnover in Mn Vol 213.8 -27.1% ▼ CSE All Share Index 14,968.6 -0.1% ▼ 30 Index 13,295.0 -0.4% ▼ Selected Index 9,081.7 -0.1% ▼ Turnover in Mn Tk 456.7 -3.7% ▼ Turnover in Mn Vol 16.8 -15.8% ▼ ILO: Most female SME owners hardly get loans Women entrepreneurs say long application process a big barrier to access to funds • SM Najmus Sakib Over 60% women Small and Medium Enterprise (SME) entrepreneurs in Bangladesh do not get loans neither from the government nor the private loan providers, says a study of ILO, Bangladesh. On the other hand, 88% SME women entrepreneurs expressed their dissatisfaction over the cumbersome loan application process that is a great barrier in the way of getting their desired loans, view specialists at ‘Dhaka summit on skill, employment and decent work 2016’ held at a city hotel yesterday. During his presentation, Francis De Silva, senior specialist of ILO Bangladesh, stated that the average loan size for women-owned SMEs is 47% less than the amount SMEs owned by men, and 36% of women reported gender-bias among financial institutions. “And to get loan, women needed nearly 13 time visits to the bank to get their loan approved,” he further added. According to the ILO survey, nearly 70% of the women entrepreneurs in Bangladesh are in micro and rural enterprises and overall demand for finance among women-owned SMEs is estimated to be approximately Tk9,975 crore. As an initiative to promote women entrepreneurship, the Ministry of Women and Children Affairs jointly with a2i, SME foundation and Bangladesh Women in Technology (BWIT) have fixed a target to develop 3,000 women as ICT entrepreneurs and freelancers from the remotest and under-privileged areas across the country. 10 million migrant workers stayed abroad till November, 2016 and sent remittance worth US$12.49 billion, said Anir Chowdhury, a policy advisor of the Prime Minister Office. He said: “Apprenticeship is less costly to recruit than adult and experience workers and condition of Bangladesh is yet to be a satisfactory one compare to the developed and developing countries in giving access to the industries.” “Apprenticeship helps improve companies’ productivity and people who have trained as apprentice are likely to stay with that company, skilling people in target areas meet business need and help employers to overcome structural barriers which will ultimately be beneficial for the industries,” he reads. Under ‘Apprenticeship programme in informal sectors for unemployed youths’ a2i (is a key driver from PM office to operate skill development programmes) in partnership with ILO has started skill development in 600 informal industries and workshops in 30 Upazillas and 1200 unemployed youths were receiving training, says the ILO study. • Curriculum revision needed to develop skilled workforce • Ibrahim Hossain Ovi Experts suggested revision of education curriculum to produce need-based skilled workforce as demand for skills continues to rise. “Generation of about 15m new jobs are projected over the next 10 years in the country’s seven thrust sectors including garment, export-oriented manufacturing, light engineering, shipbuilding, agriculture, ICT and pharmaceuticals,” said Md Mokhlesur Rahman of the World Bank in his key note presentation at a seminar in Dhaka yesterday. The seminar titled “Skill for Decent Employment: An Effective Mean of Social Transformation” was held at the Dhaka Skill Summit. Metropolitan Chamber of Commerce and Industry President Syed Nasim Manzur moderated the seminar. Mokhlesur Rahman urged to increase the share of students in A woman sews nakshikantha in Jessore. The women SME entrepreneurs in the country struggle to run business due to lack of fund SYED ZAKIR HOSSAIN the Technical Vocational Education and Training (TVET) system to 25% by expanding access to quality technical vocational education and training. Dhaka University Associate Professor of Economics Sayema Haque Bidisha was co-presenter of the keynote paper. She also found that the country’s education curriculum is not in consistent with the industry’s demand and called for making skillbased curriculum. Principal Secretary to Prime Minister Abul Kalam Azad the government has taken several initiatives to increase skilled workforce. According to the World Bank data, Bangladesh’s industrial production increased by an estimated 10.1%, driven by growth in large and medium scale manufacturing and construction, while the service sector growth accelerated from 5.8% in FY2015 to 6.7% in FY2016. The data said there are shortages of semi-skilled and skilled people in general, but the highest skill gap is in the agro-food sector followed by the RMG and IT. Sramik League Leader Shamsun Nahar Buiyan said the workers migrate to Dhaka and other industrial zones for jobs from rural areas. She said: “It’s difficult for the migrated rural people to bear cost of skills development training as such training facilities are mostly centred in cities. Shamsun Nahar stressed the need to introduce training programmes in rural areas too. BGMEA Vice President Mohammad Nasir said there is “a huge gap between skills produced by our educational institutes and demand by the industry.” “There are more items which are highly potential for Bangladesh, but they require special skills set to operate different types of machines, tools, and computer-aided devices,” he added The key note presenter identified lack of incentives for skill development, weak linkage between school and work transition, question of quality at different stages of education and training programmes, limited scope of skill development for those in the informal sector, inequalities in terms of gender and income and high drop out as key challenges. The presentation recommended to increase allocation in human resource development, establish coordination between vocational institutes and industry, modernising tertiary education with more graduates, dealing with negative social valuers associated with vocational education. •
Business 13 DT TUESDAY, DECEMBER 13, 2016 Doha Bank MD: Gulf countries look to invest in Bangladesh • Jebun Nesa Alo Gulf countries are now looking at Bangladesh to invest as the economy of the country has been emerging with sustainable growth said, R Seetharaman, chief executive officer of Doha Bank in the state of Qatar. The Middle Eastern countries are diversifying their investment in multiple markets and multiple sectors beyond the oil business due to the fall in oil price in global market, said R Seetharaman while talking to the Dhaka Tribune in an exclusive interview during his recent visit to Bangladesh. The top manager inaugurated representative office of Doha Bank in Bangladesh on 8 December. Doha Bank, which was incorporated in 1979, is the third largest local conventional bank by assets in Qatar. “Because of the fall in oil price, gulf economies faced extraordinary downturn in capital market, liquidity stress and fiscal deficit, said the top manager of Doha Bank. He continued as saying, “But the economy of those countries are still financially stable as economic fundamental of those is strong and they are diversifying their business beyond hydro companies to produce investment returns.” Expansionary fiscal policy taken by government of gulf states will Doha Bank Managing Director R Seetharaman give Bangladesh opportunity to export more human capital. Non hydro company is marginalised here with 1% growth and non hydro companies are growing with 7% growth and that is exactly to open up opportunity for Bangladesh, he added. He said: “Non hydro companies are here to grow and countries like Qatar are working on projects worth US$40 billion this year mainly in transport, communication and construction sector.” Governments of Gulf states have undertaken expansionary fiscal policy framework worth hundred and seventy billion dollars which will need more skilled and non skilled labours to implement the framework, he stated. As Bangladesh is now making $15 billion remittance annually which is likely to grow further. The annual trade between Bangladesh and gulf blocks is $3.5 billion which is expected to grow further, he hoped. He said: “Saudi Arab is interested to invest in Bangladesh in education and agriculture side. It already invested in construction of hospital in Bangladesh which will be very useful for the local community. Saudi Bank is coming up with investment in construction including bridges in Bangladesh.” Not only Saudi Arabia but also other gulf states are also coming up with huge investment in Bangladesh, he added. Doha bank is now here and also looking for exporting LNG into Bangladesh from Qatar. Kuwait is also coming up with public fund to invest in Bangladesh, he said. Praising the economic prgress of the country, R Seetharaman also remided that Bangladesh is an emerging economy as the growth over 7% is significant, inflation is less than 6%, current account deficit getting marginalised and could be surplus in coming days. The country now ranks the 6th position in global competitive investment index by World Economic Forum which is a good indicator that attracted gulf countries to come up with investment.” “We have ample of opportunities to support to the banking system here in Bangladesh. We are also going to work with the local banks to invite business community here to invest in gulf states. There is specific incentives disigned for small and medium investors in Qatar. Doha bank will be guarantee 87% of credit risk for the SMEs want to invest in Qatar, concluded R Seetharaman. • Laptop Fair 2016 begins Thursday • Tribune Business Desk A three-day Laptop Fair 2016 is set to begin Thursday at the Bangabandhu International Conference Center in Dhaka. The country’s largest laptop showcasing event styled “Techshohor.com Laptop Fair 2016” will involve both the local and international technology brands. The fair will remain open from 10:00am to 8:00pm while entry fee has been fixed at Tk30. Expo Maker, event organiser, came up with the disclosure at a press conference held at a hotel in Dhaka Sunday. Expo Maker is organising the fair for 18th time in a row as it has been organising the fair since 2008. Nahid Hasnain Siddique, Expo Maker head of operations and chief coordinator of the fair, Salahuddin Md Adil, manager, business development of HP, Protap Saha, manager (marketing) Dell, Imran Hossain, assistant general manager of Walton, were present at the press conference. Both the local and global companies will showcase their products at 44 stalls. There will be six mini-pavilions, six pavilions and one mega pavilions, organiser informed the press conference. Officials of different companies disclosed that they would launch some new models of their products at the fair. • Ryder: Skills 21 to ensure a solid base for development • Rafikul Islam The Skills 21-empowering citizens for inclusive and sustainable growth project would provide a solid base for the future development of Bangladesh, International Labour Organization (ILO) Director General Guy Ryder said yesterday. “A modern and inclusive skills system 21 initiative will build on past achievements and ultimately provide greater access to quality vocational training for men and women alike, he also said” Guy Ryder made the speeches at a joint project launching programme held at Pan Pacific Sonargaon Hotel on Monday. “With Skills 21, Bangladesh will benefit its demographic dividend not just in quantity but also in quality, he added.” Set to run from January 2017 to December 2020, the Skills 21 project will strengthen the National Skills Development System by continuing earlier reforms and by developing a National Qualifications Framework. The project also aims to support partnerships between private sector and relevant training providers to develop and implement effective professional education and training programmes. The initiative involves 20 million euro. Given the importance of labour migration in the Bangladesh economy, Skills 21 will also include actions for the integration of migration issues in the Skills Development System. The programme will support the returning migrants as well as those aspiring to migrate so they are able to secure better paid work. The project will be implemented in close collaboration with the Ministry of Education, Ministry of Labour and Employment, Ministry of Expatriates’ Welfare and Overseas Employment, Ministry of Youth and Sports, Ministry Of Chittagong Hill Tracts Affairs, National Skills Development Council Secretariat, Directorate of Technical Education, Bangladesh Technical Education Board and Bureau of Manpower Employment and Training. However, Education Secretary Md. Sohorab Hossain signed the Officials speaks at the signing ceremony of Skills 21 project in Dhaka yesterday declaration on behalf of the government while Ambassador Pierre Mayaudon and Director-General Guy Ryder inked the document for the EU and ILO respectively. Education Minister Nurul Islam Nahid witnessed the event. “This initiative will support the government’s commitment to inclusive economic growth and full and productive employment for all,” the Education Minister said. He said a skilled and productive workforce would make a major contribution to the goal of becoming a middle-income country by 2021. Pierre Mayaudon said, Bangladesh required a skilled labour force to ensure sustainable economic RAFIKUL ISLAM growth. “This EU funded intervention will also aim at creating the conditions for a sector wide approach for the TVET policy area in Bangladesh. In doing so, we will also be instrumental in creating more skilled trainers and more diversified job opportunities for young Bangladeshis”, he added. •
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