Wednesday, 2nd September , 2015, 08:15 pm,BDST
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matlub ahmad most successful businesses in Bangladesh



Alimuzzaman Harun, Lastnewsbd, Dhaka:

Nitol-Niloy Group is currently one of the most successful businesses in Bangladesh. But the chairman of Nitol-Niloy Group Mr. Abdul Matlub Ahmad is the man behind this success. As a trading company Nitol-Niloy Group started in 1982. The company started with Nitol Motors Ltd. and In Bangladesh they imported Tata Motors from India. Nitol-Niloy group slowly expanding of their businesses. also  president of FBCCI  Mr. Abdul Matlub Ahmed highlighted part of an interview are:

Lastnewsbd: First, I want to know about your organization.

Abdul Matlub Ahmad: Thanks to you. Nitol-Niloy group has been founded in 1989 and the core business of our company is cars. Starting from import cars, assembling, and the service provided, selling, financing, etc. In the automotive sector, almost all of the work we do in our organization. In addition, there are other industries, such as our cement industry, sugar industry, and paper industry. Lease finance companies and insurance companies in our industry also. Nitol-Niloy group of company approximately worth of 3 billion dollar now. There are about 10 to 12 company under the Nitol-Niloy group of company and more 7 thousands employee’s work in there.  In addition, two projects are currently under process. One of Nitol-Niloy Industrial Complex will be established in Chatak and other one will Kishoreganj. There are about 35 industrial groups will be there which mainly Joint-Venture between India and Bangladesh entrepreneurs. We hope that the two venues will be invested 1.5 million dollars. We have also established a new organization called Nitol-Niloy Export House, and within three years we hope to be able to export $3 million from that. First of all we’ll start with the garment industry. Garment industry with Value Added Design Center and starting from the garment to sell everything that you need to be here. Every month, the buyer-seller will meet, balancing, and here we will create products that will be shown in fashion show. In addition, this product will be also in fashion magazine. On February 6, the first magazine will be out in the market and our first buyer-seller meet will be held on the same day. The feedback is good enough, and we hope that first day, we’ll get the order of $ 1 million.

 

Nitol-Niloy Group position is currently one of the main importers and industries of us well enough. At the beginning, we had been exporting and now we’re back again with export. I hope soon we will qualify to become the country’s number one exporter.

Lastnewsbd: Recently you take a project of 5 billion dollar for finance lease. Something want to know about this…

Abdul Matlub Ahamad: yes. You know we have a Lease Finance Institute, this is an initiative of that institute. We can easily able to give home loan instalment to the people of the country through this initiative. State Bank of India has already been added with us on this project. We are hopeful that we are able to lend money to our country’s people total of five billion for buying home and car. Currently, the price of cars are higher and there is a lot of larger cars in our country. For the common people of our poor country does not need such a big and expensive cars. We need a car for the people of our country which prices are low, oil-efficient, low maintenance costs, and a middle-class family was able to buy it through the instalment process. That types of car we can get from Tata which one’s name is Tata Nano and the other one is Tata diesel Indigo. Diesel Indigo cars have already arrived and soon we’ll release it. We end our discussions about the Tata Nano car, and we now are at the level of the letter of credit. Hopefully by this February Tata Nano will come to the market, and we’ll release it also. Our hope is that, if the Tata Nano car is successful in Bangladesh then we will set up a factory with Indian Tata Company through joint venture.

Lastnewsbd: Recently the Minister of economy told in the parliament that we have not any deficiencies or problems in our economy now. The Black shade of economy made by the civil society. As one of the most successful businessmen in the country, what is your reaction regarding this matter?

Abdul Matlub Ahmad: I am not giving any response to the economic Minister’s statement. I’m giving my own opinion. In my opinion, our economy is still in good condition. If you notice that our car sales increases better than the previous car sales, home sales increased more than ever before, more high-stored building being built, increasing the amount of roads as well. From that what we understand? We are good enough to understand that our economic country’s condition is quite good. Today we see to develop a new industry, new companies institutions. It would not have been possible if the economy were in Black shade. But I think our economy is in a hardship though. We need to keep in mind that the majority of our money comes from exports. Our main buyers such as the America, Europe, Canada, their economic situation is currently not good enough. They are still buying our clothes because our clothes are good enough in terms of price and quality.

However, the economic crisis has reduced demand in the export market. In such circumstances, we should not panic in thinking about the future. Rather than just not relying on the garment industry, we need to develop our new products and create new markets. Like India, as in our neighboring countries, we can export various products. As well as we must be running in order to create new markets in the region of Australia, New Zealand, Japan, South America, Africa, etc. There are many neighboring countries whose situation are worse than in ours. So I think the business and industrial enterprise’s thought has surprised many in the world, and sometimes it surprised me also. So I do not think there is no need to worry because of the economic downturn.

The Industrial policy of the government needs to be co-private, the new co-investment should be kept private and the government should for implement the decisions of the Co-private toward us. For example, the PPP is not yet succeeded. Because when we went to a proposal and see they still could not make their policy framework. They do not know how they will be our partner or associate. How we will then proceed from the private sector? There are many large companies of the private sector in the country has plenty of capital as well as experience through which they can implement large projects. So I think if the private sector will get adequate opportunity, it will be redirected allowing the economy quick enough. Besides that Bangladeshis should be allowed to invest abroad as well. Today, many countries in the world gives traders the freedom to invest outside the country as if more foreign currency comes to the economy. But our country not giving any permission to export one dollar in business.

We cannot get the opportunity for increasing our capital by going abroad. The government should set a process in order to apply them through a specific procedure. Then evaluating these things case to case and after that give the permission to those who want to go abroad. If the government took this step despite the fact that we have sufficient capital in the market and not being able to expand a large-scale of our business, they can invest more our money in other countries. So who now do business in illegal way through violation of law as well as money transfer abroad these type of investments will fall and the country will be beneficial for that. The Government should understand that the water should go down to the bottom. Likewise, businesses people will invest where there will be investment opportunities. As a result, traders have the opportunity to do any business outside the country by the mean time the country’s foreign trade will be hurt. That is why I would like to request government to give Bangladeshis permission to invest abroad.

Lastnewsbd: There are various obstacles for the establishment of new industries like Gas, electricity, water etc. How such obstacles can be overcome and what is your advice to this regard?

Abdul Matlub Ahmad: It is normal that industries have a variety of obstacles. Like today electricity can be a problem, labor problem may be comes tomorrow, the technical problems may arise. But we live with the problem. Despite all the problems you see that we are in the world’s top exporter of garments or the garment industry. But if this will be an obstacles that would not have been possible to achieve this. Which means that they are not core obstacles. To any production the cost of energy is only 15 percent and it can be fixed. But in other cases, there are a variety of benefits such as cost savings of our labor or workers is 50 percent. In addition to exporting our products in Europe and America, we do not need to pay taxes and in addition to that our savings is 20 percent. If all of that fact can be noticed, Bangladesh is still one of the best places in the world in terms of investment.

Lastnewsbd: The country’s one of the most discussed topic is the stock market instability and you may have already heard that the two investors have committed suicide. The government has formulated various policies. What the government has to do to solve this problem do you think??

Abdul Matlub Ahmad: To be honest, the government’s have nothing to do for share of the market. Stock market is independent. The Government can influence our life indirectly so just as the stock market same also. Whenever the government will attempt to influence directly or immediately, then it will be more damage for the stock market. If the government tries to influence on your life for example, if the government takes your land, try to build road top of your home then it will be damage for you. Similarly the government intervention regarding on the share market will only exacerbate the problem. So the government should stay away from the stock market. Those who invested in the share market, they should kept that money in that position which is under the loss. They need to business intelligent way that if the money lost totally, then needn’t have to face trouble in the long run. Therefore, those who understand this business well and mentally prepared both profit and loss, they should only come to the stock market. Those who invested their money in the past should wait patiently for loss; Maybe one day they able to return their capital.

Lastnewsbd: Regarding on Corporate Social Responsibility (CSR) what your organization thinking about and what steps you have taken in this regard??

Abdul Matlub Ahmad: We have a separate department for CSR and there for several activities being taken. We are trying to support different sectors like orphanage, education, sport, etc. CSR is now a corporate body’s one of the obligatory work, and therefore our company has also taken care of different social work.

Lastnewsbd: In Bangladesh, many of the new jobs created by you and hope that you will continue it in the future. Young people those who want to come the job market, how they can prepare themselves and what is your advice to them??

 

Abdul Matlub Ahmad: My advice is to young people they should not wait for jobs rather they were divided in groups and involved themselves into small businesses. There is less job for the job candidate in this country. A day may come when there will be no job in the market. As a result, young people should be mentally prepare from now that they do not wait for the job rather they invest in small and medium enterprises (SMEs), they can together will develop some small industries. For encouraging SMEs a near about 600 billion dollars is remaining in the Government’s fund, but there is no man who can come to take this. Some small investors can invest their money into the petty business of IT, especially the Internet, or you can invest money on the online. Then, after reached a certain level, they can apply for funds to the government. The mentality of the rich overnight must be prohibited in that case which should be seen in Bangladesh. You first need to create an organization with difficulty. Now you are unemployed, but you do not have your lunch without biryani. That kind of mentality you need to kick out of your mind. You will gradually improve day by day and you should keep in mind that no one can improve overnight. Many factory owners in our country if see little profit, the next day they bought a “Pajero” or any other expensive cars. But they made a mistake. Young people should first be established their business well and sufficient resources to achieve and then make extra money for their life comfort.

Lastnewsbd: IT sector in Bangladesh is progressing well and the future of Bangladesh has to be more potential than that. Information technology (IT) especially Internet spreading throughout the country and what measures should be taken on behalf of the government, do you think??

Abdul Matlub Ahmad: The big problem in our country is that we had a wide range of IT sector year in 2000 but we did not capitalize it very well which was able to utilize our neighboring country India too well. At the beginning of this millennium, if we could work in a joint venture with Bangladesh and India, we could go a long way today. But still I say, we have a lot of IT engineers in Bangladesh, however, they could not yet combined. BASIS activities will need increase more and the government’s IT policies need to be more pronounced. There are some of the government’s policy is not very clear. Many new entrepreneurs do not understand this kind of business is very well. However, we can tell them to come by giving them several support and cooperation regarding on this business. But I think there is huge potential in the IT sector in our country. For example we lost a great opportunity in the call center because in our country there is very few of people who can speak English well. However there is no need to be disappointed because there is no cheap IT engineers in the world ahead of Bangladesh. We need to highlight this aspect and to export our manpower the Government private sector revision must take the initiative in order to export IT engineers.

Lastnewsbd: Thanks for giving us your valuable time.

Abdul Matlub Ahmed: Thanks too you also

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