Dhaka, Bangladesh (BBN)– Come major US companies are considering to expand their business in Bangladesh’s fast growing market of consumer products, a top business leader said.
American Chamber of Commerce in Bangladesh (AmCham) President Aftab ul Islam said that some big US companies, other than oil and gas sector players, have set their sight on the Bangladesh market and they are seriously considering investments in Bangladesh.
US consumer goods giants Proctor & Gamble and Johnson & Johnson are contemplating substantial investments on production facilities in Bangladesh as local market of Fast Moving Consumer Goods has become encouragingly big, Mr. Aftab added.
At present P&G brands like Pentene, Head & Shoulders, Olay, Gillette, Tide and Duracell are sold well in Bangladesh through imports while Johnson & Johnson baby care products are also established in Bangladesh market. But the US brands cost high here due to high duty, he noted.
“Production in Bangladesh will give them [US brands] competitive edge for expanding market,” the AmCham president was quoted by New Age, a local newspaper, as saying.
He also added: “Bangladesh can be low cost manufacturing centre for the US companies and products manufactured here can also be exported to Middle East and other Asian markets.”
BBN/SI/AD-14Apr11-6:22 pm (BST)
