According to a recent survey, encouraged by market demand, coupled with efficient sourcing and cost-efficient production, around 91 per cent of Nordic (Sweden, Norway and Denmark) companies doing business in Bangladesh are reportedly contemplating to increase their activities in Bangladesh in the next three years.
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The survey conducted by the Nordic Chamber of Commerce and Industry in Bangladesh, along with the Sweden Bangladesh Business Council and the three embassies of Nordic countries, recently made public the findings of the survey, titled ‘Business Confidence Survey-2015’, formally released by Bangladesh Commerce Minister Tofail Ahmed in Dhaka recently.
According to the survey report, there had been a nine per cent rise in favourability of doing business in Bangladesh since 2013 with 56 per cent of the Nordic businesses reporting a very favourable outlook in 2015, which also went on to underline that the Nordic companies were experiencing higher profits in recent years and favourable business climate that could be a leading reason for increasing their business activities in the country.
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The Business Confidence Survey-2015 further stated that 34 per cent of the respondents were experiencing higher profits in Bangladesh compared to the other markets that they are active in, besides adding that the most common reason for starting a business in Bangladesh is the market demand.
The survey further underlined that around 16 per cent of the respondents entered Bangladesh for cost-efficient production and 12 per cent of the respondents for efficient sourcing.