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Bangladesh English Newspaper

Bangladesh English Newspaper

Staff Correspondent

The economy however has been suffering from different prongs, he said. "The industrial sector has been suffering from the crisis of gas and power and for weak infrastructures."

He went on, "The economy grew positively over the years despite various challenges. The industry especially the garment sector increased its capacity and bagged a good market worldwide. But suddenly there is an unexpected fall in the inflow of orders from overseas buyers."

Hoque said if political stability could be ensured, exporters would be able to evade the fallouts in western economies.

The government's proposed 1.5 percent tax at source might hamper the exports, making the garment sector uncompetitive, he feared.

"Cost of doing business has increased in Bangladesh for different reasons like price hike of gas, power and petroleum products," Hoque added.

David Hasanat, chairman and managing director of Viyellatex Group, said recognition is always inspiring.

"The most important thing is that the recognition will act as an inspiration for the next generation for doing positive changes in the business areas," said the former "Business Person of the Year".

"We want an industry-friendly environment, adequate supply of gas and power and political stability for smooth running of business."

Hasanat also said, "We do not have to be worried, as the future of ready-made garment is bright with the world recovering from the recession."

Nasir A Chowdhury, an insurance pioneer and managing director of Greendelta Insurance, said The Daily Star-DHL Business Award is the most prestigious and unique recognition in the country. "It is very encouraging and inspiring for us," he said.

Michael Kuehner, managing director of Robi, the country's third largest cell phone operator in terms of subscription, said this is a country of dynamic development. "It needs a lot of entrepreneurs who can take on challenges," he added.

"Bangladesh is doing well and has a very good investment prospects," Kuehner said, referring to the recent acknowledgement of the country's economic growth by leading globally renowned financial institutions like Goldman Sachs.