(1) evaluate the investment environment objectively and go through the investment procedures in accordance with the law
The investment environment in Bangladesh is relatively relaxed, and successive governments have attached great importance to attracting investment. The country has abundant labor resources and low prices. In addition, its products are exported to Europe and the United States and other developed countries can enjoy a series of tariff-free, quota-free or tariff concessions, attracting many foreign investors. But at the same time, we must also be aware of Bangladesh’s poor infrastructure, lack of water and electricity resources, low efficiency of government departments, poor handling of labor disputes, and low credibility of local businessmen. Therefore, we should objectively evaluate Bangladesh’s investment environment. It is very important to conduct adequate market research. On the basis of adequate preliminary investigation and research, investors should handle investment and registration procedures in accordance with relevant laws and regulations of Bangladesh. Those investing in restricted industries shall pay special attention to obtaining relevant administrative permits before carrying out specific business activities.
In the investment process, investors should pay attention to the assistance of local lawyers, accountants and other professionals to safeguard their own legal rights while doing compliance work. If investors intend to conduct joint ventures with local natural persons or enterprises in Bangladesh, they should pay special attention to investigating the creditworthiness of their partners. They should not cooperate with natural persons or enterprises with poor credit status or unknown backgrounds, and agree on a reasonable period of cooperation to avoid being deceived. .
(2) Choose a suitable investment location
Currently, Bangladesh has established 8 export processing zones, and the Bangladeshi government has given more preferential treatment to investors in the zone. However, the land in the processing zone can only be leased, and 90% of the products of the enterprises in the zone are exported. Therefore, companies wishing to buy land and build factories or sell their products locally are not suitable for investment in the processing zone. The capital, Dhaka, is the political, economic and cultural center of the country. It is the largest city in the country and the area where the richest people live most. It is suitable for companies that serve high-end customers, but Dhaka is far from the seaport and not suitable for those with a large number of Companies that distribute raw materials and finished products. Chittagong is the second largest city in Bangladesh and the only seaport city in the country. The distribution of goods here is relatively convenient, but the population is relatively small, and it is far from the national political, economic and cultural center. Therefore, the characteristics of different regions in Bangladesh are very different, and companies should make reasonable choices based on their core needs.
(3) Scientific management enterprise
Workers strike more frequently in Bangladesh, but strict and scientific management can avoid similar phenomena. First, when sending employees, companies should select employees with high personal qualities, certain management experience, strong English communication skills, and understanding of the cultural characteristics of Bangladesh to serve as senior managers, and respect and scientifically manage the company's middle managers. The second is that companies should hire some local high-quality and skilled employees to act as middle and low-level managers. Because most ordinary employees in Bangladesh have poor English communication skills, it is difficult for Chinese managers to communicate with them if they do not understand the language and are not familiar with the local culture. If communication is not smooth, it is easy to cause conflicts and lead to strikes. Third, companies should formulate employee incentive mechanisms, cultivate corporate culture, and allow employees to participate in corporate construction and development in the spirit of ownership.
(4) Pay attention to environmental protection issues and actively fulfill corporate social responsibilities
In recent years, the environment in many parts of Bangladesh has deteriorated. Local residents have great opinions, and the media has continued to expose it. In response to this problem, the Bangladesh government has gradually increased its emphasis on environmental protection. At present, environmental protection departments and local governments are working hard to improve the country's ecological environment by improving relevant laws and regulations, supporting the development of environmentally friendly enterprises, relocating heavy-polluting enterprises, and increasing penalties for companies that discharge illegally. Therefore, companies should attach great importance to the environmental assessment process and environmental compliance review of investment projects, obtain official approval documents issued by the environmental protection department in accordance with the law, and do not start construction without permission.
