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Executive Report on Strategies in Bangladesh
ICON Group International, June 2007, Pages: 391
How to Strategically Evaluate Bangladesh
Perhaps the most efficient way of evaluating Bangladesh is to consider key dimensions which themselves are composites of multiple factors. Composite portfolio approaches have long been used by strategic planners. The biggest challenge in this approach is to choose the appropriate factors that are the most relevant to international planning. The two measures of greatest relevance are “latent demand” and “market accessibility”. The figure below summarizes the key dimensions and recommendations of such an approach. Using these two composites, one can prioritize all countries of the world. Countries of high latent demand and high relative accessibility (e.g. easier entry for one firm compared to other firms) are given highest priority. The figure below shows two different scenarios. Accessibility is defined as a firm’s ease of entering or supplying from or to a market (the “supply side”), and latent demand is an indicator of the potential in serving from or to the market (the “demand side”).
Framework for Prioritizing Countries
Demand/Market Potential Driven Firm
Relative Accessibility
Accessibility/Supply Averse Firm
Relative Accessibility
In the top figure, the firm is driven by market potential, whereas the bottom figure represents a firm that is driven by costs or by an aversion to difficult markets. This report treats the reader as coming from a “generic firm” approaching the global market - neither a market-driven nor a cost-driven company. Planners must therefore augment this report with their own company-specific factors that might change the priorities.
Latent Demand and Accessibility in Bangladesh
This report provides an extremely detailed overview of factors driving latent demand and accessibility in Bangladesh. Latent demand is largely driven by economic fundamentals. But, latent demand only represents half of the picture. A country may at first sight appear to be attractive due to a high latent demand, but it is often less attractive when one considers at the macro level how easy it might be to serve that entire potential and/or general business risks.
Chapter 2 deals with macro-accessibility. While accessibility will always vary from one company to another for a given country, the following domains are typically considered when evaluating macro-accessibility in Bangladesh:
Openness to Trade in Bangladesh
Openness to Direct Investment in Bangladesh
Local Marketing and Entry Strategy Alternatives
Local Human Resources
Local Risks
Across these domains, a number of not-so-obvious factors can affect accessibility and risk. These are also covered in Chapter 2, which is presented from the perspective of an American firm, though it is equally applicable to most firms entering Bangladesh. This chapter has been authored by local offices of the U.S. Government. I have included a number of edits to clarify the provided information as it relates to the general strategic framework.
In Chapter 3, I summarize the economic potential for Bangladesh over the next five years for hundreds of industries, categories, and products. The goal of this chapter is to report my findings on the real economic potential, or latent demand, represented by Bangladesh when defined as an area of dominant influence. The data presented are the result of various spatial econometric and time-series forecasting models which, for each category presented, are applied to forecast and allocate latent demand across all countries of the world and major distribution centers or centers of dominant influence within each country. This is accomplished knowing that economic fundamentals (e.g. income) generally vary from one country to another within a given country over time. In this chapter, I report the allocation for each category for Bangladesh as an area of dominant influence in Asia and, potentially, the world.
The report concludes with trade indicators for Bangladesh. Often, the amount of trade flowing into and out of a country is a strong indicator of trading partners, trade openness, and related latent demand. Trade indicators are purely statistical in nature. Although international trade is not a direct measure of latent demand, it does provide an indicator of general market conditions with respect to trade flows and trade openness in Bangladesh.
As a whole, this report presents a strategic assessment of Bangladesh by considering an extremely broad set of factors affecting both latent demand and accessibility, as outlined in the following chapters.
MACRO-ACCESSIBILITY IN BANGLADESH
Economic Fundamentals and Dynamics
Bangladesh is a semitropical riverine nation with fertile soil and a high vulnerability to floods and cyclones. Most Bangladeshis live in rural areas and make their living from agriculture, although there has been heavy migration to the cities, primarily to Dhaka, the capital. With 132 million people crowded into an area the size of Iowa, Bangladesh has the highest population density of any country, except city-states such as Singapore. Since independence in 1971, Bangladesh has been one of the world’s poorest countries.
Despite a relatively good performance in the last decade, the economy is beset with many structural weaknesses, which the government has yet to address. Chief among these weaknesses are the undercapitalized financial sector, an unproductive and chronically money losing public sector, poor infrastructure, lack of export diversification, and pervasive corruption at all levels of society. In July 2002, Transparency International reported that Bangladesh is perceived to be the most corrupt country in the world. The failure of the political system to address these long-standing economic problems has adversely affected the business environment and investment climate.
Agriculture
Agriculture accounts for approximately 25% of GDP, down from about 40% in the 1980s, and is the primary occupation of about 70% of the population. The agricultural sector is dominated by rice production. The nation’s enhanced food security can be attributed both to several excellent harvests and the government’s decision in the early 1990s to liberalize the import market for food grains. Receptiveness to the use of hybrid seeds, the substitution of cash crops (corn, potatoes, fruit) for traditional rice cultivation, increasing use of arable land for efficient small scale vegetable farming, growth of micro credit and government-sponsored agricultural credit, and the sharp expansion of non-crop agricultural activities such as livestock and fisheries are making the agricultural sector an unqualified success in an otherwise fragile economy.
Jute is Bangladesh’s main cash crop, cultivated in rotation with rice. Although Bangladesh is still the world’s leading jute exporter, the fiber’s prominence has slipped in recent years as world demand for jute products such as carpet backing and burlap bags has stagnated or fallen. Inefficiency caused by heavy government involvement in procurement and processing has also hurt the sector. Accordingly, on June 30, 2002, the BDG closed down the Adamjee Jute Mill, the country’s largest and most costly state-owned enterprise (SOE). Farmers are growing increasingly disinterested in the crop due to the continued supply glut and corresponding low prices in recent years. The combined export earnings of jute and jute products now represent about 7% of the country’s export earnings, down from about 24% in FY1991. Export volumes, however, have been increasing.
Government Intervention Risks
Bangladesh’s industrial development has been hampered by a history of government intervention in trade and industry. Although over the past decade the BDG has enacted policies to diminish bureaucratic requirements and open the economy to private sector development, these efforts at market-based reforms have only been partly successful. Trade has been liberalized and new sectors opened to private sector development; other reforms have also improved the business climate. However, many other reforms such as privatization, encounter stiff opposition from vested interest groups, such as public sector labor unions, bureaucrats or opposition political parties. To date, Bangladesh’s government has found this opposition difficult to overcome, and implementation of policy reforms has often been lacking.
Approximately 30-40% of the government’s fiscal deficit stems from financing state-owned enterprises (SOE’s). Gross losses of these SOE’s cost the government several hundred million dollars each year. In a poor country like Bangladesh, the opportunity cost of operating a resource draining SOE is acute, as resources are moved away from social sectors like health and education. The nationalized commercial banks are grossly inefficient, with political influence and non-constructive trade union activities resulting in non-performing loans accounting for approximately 35% of all outstanding loans. Most public sector industrial units, especially textiles, jute processing, and sugar processing, are perennial money losers. Units like these drain the government’s treasury and set high wages that their private sector counterparts often feel compelled to meet out of fear of union action. Also, crucial non-manufacturing industries -- power, telecommunications, railroads, and the national airline -- are still largely inefficient public sector monopolies, which limit private sector productivity and growth. The opening up of the oil and gas, power, and telecommunications (cellular and rural areas) portfolios to the private sector is a positive step. Continued privatization also promises good results if the pace of such reform accelerates. At present, about 35 firms are in various stages of privatization, and an additional 100 firms have been identified for future sale to the private sector.
Infrastructure Development
Bangladesh’s two major seaports, Chittagong and Mongla, handle approximately 14.5 million metric tons of cargo annually; Chittagong, by far the larger port, with two container terminals, handles over 80% of the cargo. The Chittagong port suffers from inefficient space management, a shortage of handling equipment, corruption, and congestion.
Bangladesh’s 36,000-kilometer primary road network is in relatively good condition, giving rise to a substantial private trucking industry. The Jamuna Multipurpose Bridge, a mammoth $1 billion engineering and construction project that spans the Jamuna River, connecting east and west Bangladesh for the first time, was completed in June 1998. Inland waterways are extensive and inland water transportation accounts for about 65% of domestic cargo transportation and about 38% of inter-district passenger traffic, despite seasonal siltation problems and inadequate inland port facilities. Bangladesh’s 4,364-kilometer railway system is in poor condition, hobbled by a mix of track gauges, widespread ticket-less travel, and aged equipment. The BDG has modernized the Chittagong airport and is in the process of expanding the Dhaka airport. Government-operated Biman Airlines runs a fleet of about a dozen aircraft, and several airlines connect Dhaka with Europe, the Persian Gulf, and South, Southeast, and East Asia. Bangladesh has one flourishing domestic private airline, GMG, which entered the market in 1998. Air cargo volumes, while still small, have been growing steadily over the last few years.
Bangladesh’s public power sector is inadequate and rife with corruption. Over 40% of electricity distributed to urban areas is never paid for. Overloading and a lack of maintenance cause frequent outages. Necessary planned blackouts, called “load shedding,” are common occurrences throughout the country. Damaged equipment, investments in standby generators, and lost production time caused by power irregularities and failures have cost some firms up to 30% of their value of production.
The country’s telecommunications services are inadequate. Bangladesh devotes a mere 0.7% of its GDP to the telecom sector as compared to the regional average of about 2.0%. The government-run telephone service has approximately five telephone lines for every 1,000 people, giving it one of the lowest penetration rates in the world. Approximately half the nation’s 900,000 telephone land-lines are located in Dhaka, a city of over 12 million people. Bangladesh’s call completion rate remains under 50% and its land-line network barely supports moder telecom accessories such as call-waiting, call forwarding, and voice mail. The telephone service company is undermined by widespread corruption. While cheaper and easier to obtain than land-lines, mobile phones face similar technological problems. Due to inadequate interconnection facilities for mobile phones, only about 10% of mobile phones can actually call a land-line. More than a mere inconvenience, these limitations place businesses operating in Bangladesh at a severe disadvantage to their competitors located elsewhere in the region and around the world. Several Internet service providers, featuring electronic mail and World Wide Web services, now exist in Bangladesh. Bandwidth, however, is very expensive since the country does not have an Internet Exchange Point and is not yet connected to a submarine fiber-optics cable system.
The BDG is aware of the importance of telecommunications. Several projects to improve the telecommunications infrastructure involving U.S. firms have run into problems due to lack of respect for contract sanctity, corruption, and bureaucratic infighting.
Political Risks
Economic Relationship with the United States
U.S.-Bangladesh relations are excellent. U.S. policies have focused primarily on efforts to promote Bangladesh’s economic development and political progress as a democracy. Since Bangladesh’s independence in 1971, the U.S. has provided over $4 billion in aid, approximately half of which has been food aid.
Politics and the Business Environment
There are no major bilateral or international political issues that affect the business climate in Bangladesh. During the war in Iraq, however, political demonstrations occurred almost daily and in a few instances resulted in damage to some American businesses. General strikes (hartals) have regularly disrupted business operations in the past. While business has partially adjusted to the hartal culture prevalent in the country, the disruptions inflict a severe cost on the economy and on individual businesses.
The Political System
Bangladesh is a parliamentary democracy, with general elections constitutionally required at least once every five years. The Parliament has 300 elected members (MPs). Candidates may contest a maximum of five seats in any one election, but may only hold one. Parliament elects the country’s President, whose duties are largely ceremonial, to a five-year term.
Following its war of independence in 1971 and the establishment of a new Constitution in 1972, Bangladesh held its first parliamentary election in March 1973, which solidified the AL’s ruling majority. In August 1975, the elected government of Sheikh Mujibur Rahman -- who was a prominent leader in the nationalist movement -- was overthrown in the first of a series of military coups followed by military rule, which plagued the country for the next fifteen years. In this first coup, Sheikh Mujib and most of his family were murdered. His daughter, Sheikh Hasina, was out of the country and survived, later becoming the AL chief. In 1981, President Ziaur Rahman, an army general (and founder of the BNP) who came to power in the turmoil following the death of Sheikh Mujib, was himself assassinated. His party’s mantle passed to his wife, Begum Khaleda Zia. In December 1982, General H.M. Ershad, then Army Chief of General Staff, seized power and declared himself President. He remained President for eight years, forming the Jatiya Party and attempting to legitimize his rule through political manipulation. He was forced to resign in December 1990, following months of popular demonstrations.
In February 1991, the BNP won a parliamentary plurality of 140 seats in general elections and formed the government, with Begum Khaleda Zia becoming Prime Minister. The AL, Jatiya Party, and the Jamaat-e-Islami formed the bulk of the opposition. A political impasse dragged on for nearly two years, and the opposition parties boycotted general elections held by the BNP in February 1996. After the BNP government lost credibility with substantiated reports of vote rigging in the one-party election, popular pressure compelled the BNP to hold an election under a caretaker government. New polls were contested by all the major parties in mid-June 1996, and a new government led by the AL and Prime Minister Sheikh Hasina took its seat in late June 1996. Elections were held again on October 1, 2001, and were declared generally free and fair by domestic and international observer groups, and a BNP-led Parliament was sworn in on October 10. On June 23, 2002, the AL agreed to end its boycott of Parliament and took up its seats in the legislature for the first time since the October parliamentary elections, though it continues to stage occasional “walk outs.”
There are few apparent policy differences between the BNP, the AL, and Jatiya Party. Jamaat-e-Islami calls for an Islamic state, but also professes a commitment to tolerance, democracy, and economic freedom. Despite a remarkable degree of policy consensus, political cooperation has been in short supply. Street demonstrations, strikes and blockades are frequent means of opposition expression. Political acrimony between the major parties could pose obstacles to long-term stability and further economic reform.
Marketing Strategies
Distribution Channel Options
The primary channel for selling U.S. goods in Bangladesh is through a resident agent or representative (importer, wholesaler, or distributor). An agent may be appointed on an exclusive or non-exclusive basis. Approximately half of Bangladesh’s imports are made through tender or direct purchase by public sector corporations, autonomous bodies, and government-controlled corporations. These agencies prefer to deal with local firms acting as exclusive agents or distributors of foreign manufacturers and suppliers. An exclusive agency or distributorship arrangement ensures that foreign suppliers submit only one bid. In the private sector, too, businesses prefer deals with exclusive agents to ensure after-sales service, continuous supply of spare parts, and to solve possible future technical problems. It is also helpful for a foreign firm to have an exclusive distributor in order to monitor the progress of major projects, provide information on upcoming sales opportunities, and work out strategies to win tenders. Non-exclusive arrangements are common for commodities such as cotton, wheat, edible oil, chemicals, and metals, where brand names are not as important.
Urban retailers usually purchase or obtain on credit supplies sufficient to last them for a week. Rural retailers generally travel to large cities like Dhaka or Chittagong to inspect goods and to place orders sufficient to last a month or more. While many retail stores carry general merchandise, only a few carry a wide enough range to be considered small department stores. The typical retail shop sells a single commodity, such as tires, cooking utensils, or jewelry. It is frequently located in a crowded bazaar area near other shops carrying similar goods and is likely to be small.
Agents and Distributors
U.S. firms may appoint a Bangladeshi firm or individual as an exclusive or non-exclusive agent. The local agent should be reputable, imaginative, active, politically astute and well connected, and technically competent. A local agent may be authorized to service industrial consumers, to bid on government tenders, or to place orders or book indent orders for his own account. The U.S. Embassy’s experience suggests that a local agent, which represents many foreign companies, may not be as effective as an agent working solely on behalf of a U.S. firm, which can be more aggressive in pursuing a product or product line.
U.S. firms should carefully check a potential agent’s financial soundness, sales capabilities, and contacts with public and private sector organizations. Personal interviews are useful in discussing a business proposal with a potential agent or distributor. Given the level of corruption that pervades Bangladesh, exporters are cautioned to screen carefully any potential agents working on their behalf. Close political ties with the government of the day do not automatically guarantee success, as new governments have delayed or re-tendered deals done by their predecessors.
Franchising Activities
Franchising is generally not practiced in Bangladesh, although there are no regulations barring franchise operations. Several European clothing and fast food operations, including United Colors of Benetton and Wimpy’s, have opened over the last few years.
Direct Marketing Options
Most imports, especially government procurements, are made through local agents. Due to transportation and customs bottlenecks, direct marketing of consumer goods from overseas is almost non-existent.
Joint Ventures and Licensing Options
Bangladeshi businesses are eager to collaborate with foreign partners, and the BDG has significantly improved conditions for joint ventures in recent years. Local businessmen are particularly receptive to joint ventures in which the foreign partner provides the foreign exchange capital, equipment, technology, and expertise, and the local partner provides land, building(s), and knowledge of the domestic market. 100% foreign ownership is permitted.
The Industrial Policy of 1991, updated in 1999, ensures equal treatment for local investment, joint venture, and 100% foreign investment. According to the policy, no permission of the government is required to set up a joint venture project. This could be misleading, however, as licenses, permits, visas, and other authorizations are required from the relevant regulatory and administrative ministries. The joint venture must also register with the Board of Investment (BOI), which enables the enterprise to obtain facilities such as import entitlement for raw materials and spare parts, land, and utility connections. The BOI is located at Jiban Bima Tower, 10 Dilkusha Commercial Area, Dhaka 1000, telephone: (880-2) 956-2414, fax: 956-2312, E-mail: ecboi@bdmail.net, Web site: www.boibd.org. Aside from completing its two-page registration application, the BOI does not require any additional documentation. Joint ventures with public sector corporations are also allowed, although clear policies and regulations do not always exist.
Creating a Sales Office
A business in Bangladesh may be organized as a sole proprietorship, a partnership, or as an incorporated or unincorporated association. Foreign investors normally form corporations in Bangladesh. Two broad categories of corporations exist: public and private. Companies of either type may be limited or unlimited. The liability of the shareholders of a limited company is restricted to the amount of share capital subscribed by them or held in their name. The liability of the shareholders of an unlimited company is not as restricted. A minimum of seven shareholders is required to establish a public limited company; there is no limit on the number of shareholders it may have. A private company requires a minimum of two shareholders, and its total number of shareholders may not exceed fifty.
Any foreign firm incorporated outside of Bangladesh must be registered in Bangladesh in order to carry out business. Business firms are incorporated and registered under the provisions of the Companies Act of 1994. The incorporation/registration is done by the Registrar of Joint Stock Companies, 24-25, Dilkusha C/A, Dhaka 1000, telephone: (880-2) 955-6398. Any foreign firm with its corporate head office outside Bangladesh wishing to open a branch or liaison office must apply on a prescribed form to the Ministry of Industries, Shilpa Bhaban, Motijheel C/A, Dhaka, telephone: (880-2) 955-0590. The foreign firm must submit with the application its original Overseas Certificate of Incorporation or a copy attested by a Bangladeshi embassy or consulate. There may be a fee for attestation.
Selling Strategies
One of the most important selling factors in marketing U.S. products is selecting an efficient and effective local agent or distributor. U.S. firms should carefully consider their potential partner’s financial soundness, sales capabilities, and, most important, close contact with public and private sector organizations. The local agent/distributor should be instructed to provide advance information regarding potential government purchases, since the government’s tender procedures are complicated and require considerable paper work and lead time to prepare a sound, competitive bid. Local companies should be given adequate product information and training in order to promote U.S. firms’ products/services in the local market. Promotional materials such as product brochures, catalogs, posters for display, and specific media advertisements greatly assist a local agent in selling his principal’s products/services. U.S. firms should also consider promoting their products/services through the annual U.S. Trade Show held in Dhaka, or participate in the U.S. Embassy’s annual catalog exhibition series. Details on the trade show are available from the Executive Director, American Chamber of Commerce in Bangladesh (AMCHAM), Room 319, Dhaka Sheraton Hotel, 1 Minto Road, GPO Box 504, Dhaka 1000, telephone: (880-2) 861-3391, fax: (880-2) 831-2915, E-mail: amcham@bangla.net.
Advertising and Trade Promotion
Bangladesh has a small but growing advertising and market research industry. Product and trade advertisements are the most commonly used sales promotion vehicle in Bangladesh, and are carried through the whole range of advertising media, including newspapers, magazines, radio and television, billboards, posters, film shorts, and local exhibitions. Bangladesh has a large and vigorous newspaper and magazine sector, with over 200 English and Bangla newspapers and magazines, including over 100 dailies. The principal English-language dailies published in Dhaka include “Daily Star”, “Bangladesh Observer”, “Financial Express”, and “The Independent.” The primary Bangla dailies are “Jugantar”, “Ittefaq”, “Prothom Alo”, and “Jana Kantha.” The BDG strengthened its monopoly over terrestrial television broadcasts when it revoked the license of a private domestic television station, Ekushey Television, which had rapidly built up market share. The government-run Radio Bangladesh offers commercial advertisements, generally in Bangla, but Bangladesh Television (BTV) carries a fair share of its advertisements in English. Since 1995, the U.S. Embassy has advocated elimination of a 60% advertising surcharge that the BDG imposes on foreign products. Radio Bangladesh broadcasts over 20 hours per day. BTV broadcasts primarily in the afternoon and evening. Satellite television is increasingly popular among city dwellers, who watch mostly programs beamed from Hong Kong (Star TV) and India; CNN, BBC, and other channels from the U.S. and Europe are also available. Local cable TV companies in Dhaka and Chittagong offer a relatively wide selection of foreign programming. Bangladesh now has about 60 Internet service providers offering full Internet access. Some fax and phone retailers also offer E-mail services.
Pricing Issues
Since most government purchases are through open public tenders, contracts are usually awarded to the lowest bidder. Other than a few essential pharmaceutical products and petroleum products, the BDG does not have price controls for the private sector where price levels are determined by the market’s price mechanism. Due to inefficiencies in the market, the price level for most products is higher in Bangladesh than demand and supply conditions would warrant.
Supplying Customer Service
Sales service and customer support are critical, particularly for private sector customers. Marketing consumer durables such as electric generators, capital machinery, and large air conditioning plants requires sound technical support for installation as well as maintenance needs. Agents of U.S. firms dealing with these products should maintain sufficient technical staff and spare parts stock to support their customers. The same holds true for computer hardware and software.
Public Sector Marketing
The BDG is the country’s largest importer. Most government agencies, autonomous organizations, and public sector corporations import directly through public tenders, which are publicly announced or issued to registered suppliers.
Major BDG direct importers are:
Bangladesh Chemical Industries Corporation (BCIC)
Bangladesh Steel & Engineering Corporation (BSEC)
Bangladesh Oil, Gas and Mineral Corporation (BOGMC or Petrobangla)
Bangladesh Sugar & Food Industries Corporation (BSFC)
Trading Corporation of Bangladesh (TCB)
Bangladesh Power Development Board (PDB)
Rural Electrification Board (REB)
Dhaka Electric Supply Authority (DESA)
Water and Sewage Authority (WASA)
Department of Health and Family Planning
Bangladesh Telephone & Telegraph Board (BTTB)
Directorate General of Defense Purchase (DGDP)
Civil Aviation Authority of Bangladesh (caab)
Major and bulk purchases to be made by public tender are published in the local media. The U.S. Embassy’s Political/Economic Section monitors all bid announcements and reports them promptly to the Office of International Projects (OIMP), Room 2015-B, International Trade Administration, U.S. Department of Commerce, Washington, D.C. 20230, and telephone: (202) 377-2373. OIMP also tracks all multilateral development bank projects valued at over $5 million. Information on tenders under $5 million is received by the U.S. Department of Commerce’s Office of South Asia, telephone: (202) 377-2954.
Intellectual Property Risks
Protection of intellectual property rights in Bangladesh has worsened and is becoming a serious concern. Bangladesh is a signatory of the Uruguay Round agreements, including the WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS. The BDG enacted a Copyright Law in July 2000, updating its copyright system and bringing the country into compliance with TRIPS. Enforcement of this and other IPR laws is lax. The BDG has been urged to move quickly to improve protection. The U.S. Trade Representative’s “Special 301” Watch List, which identifies countries that deny adequate and effective protection of intellectual property rights or deny fair and equitable market access for persons that rely on intellectual property protection, has never included Bangladesh. Intellectual property infringement is common, particularly of computer software, motion pictures, pharmaceutical products, CDs/DVDs, and audio and videocassettes. Bangladesh has been a member of the World Intellectual Property Organization (WIPO) in Geneva since 1985.
Hiring Local Counsel
Legal assistance may be required to settle business disputes. A representative list of Bangladeshi attorneys handling commercial law cases follows. No responsibility for professional ability or integrity of those listed is implied, but the firms have been chosen with care. Names are listed alphabetically.
Bangladeshi Attorneys
Syed Ishtiaq Ahmed
69/1 New Circular Road
Dhaka 1000
Tel: 955-0479
Fax: 831-6164
H & H Company
Shareef Mansion (2nd floor), 56-57 Motijheel C/A
Dhaka 1000
Tel: 955-0705, 955-2447
Fax: 956-9233
Dr. Kamal Hossain & Associates
Chamber Building (2nd floor), 122-124 Motijheel C/A
Dhaka 1000
Tel: 955-2946, 956-4954
Fax: 956-4953
Huq & Company
47/1, Purana Paltan
Dhaka 1000
Tel: 955-2196
Fax: 955-5953
Lee Khan and Associates
City Heart
Suite No. 5/7
67, Naya Paltan (4th floor)
VIP Road
Motijheel Commercial Area
Dhaka 1000
Tel: 831-3508
Fax: 831-9279
The Law Syndicate
Isphani Building (1st floor), 14-15, Motijheel C/A
Dhaka 1000
Tel: 955-9335
Fax: 811-5090
Moudud Ahmed & Associates
Islam Chamber, 9th Floor, 125/A
Motijheel C/A,
Dhaka 1000
Tel: 956-818, 956-5477
Fax: 956-5479
Ain Bid Sangstha
Sadharan Bima Bhaban (8th Fl
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