Hong Kong Shanghai Bank to Award Top Exporters for the 2nd Consecutive Year
The Hong Kong and Shanghai Banking Corporation (HSBC) Bangladesh, in a press conference at the Dhaka Sheraton Hotel announced that it will be awarding top exporters of 2010-2011 for the 2nd consecutive year. Nominations for the award will be accepted until the 21st of April.
The initiative of the bank is to recognize the ingenuity of Bangladesh exports and the award itself will be divided into five categories including RMG (readymade garments) and textiles exporters (Group A and Group B), EPZ enterprises, traditional and emerging sectors and SMEs. Groups A and B will cover industries with exports exceeding $50 million and industries with exports below $50 million, respectively.
The traditional and emerging sectors will cover non RMG-textile companies with an annual turnover of $3 million or above and the SME group will cover small and medium sized enterprises with an annual turnover of less than $3 million. Companies in the EPZ will be awarded under the EPZ category.
Sanjay Prakash, chief executive officer of HSBC Bangladesh, stated that recognition of exporters play a vital role in promotion of exports and its diversification, and achieving excellence and Mahbub-ur-Rahman, head of commercial banking, HSBC Bangladesh, said the award is intended towards emerging entrepreneurs as well as established names. Rahman also said “These awards are a humble way for HSBC to salute the resilience of Bangladesh’s exporters. Across markets and industries, and facing all odds, our exporters have proven their mettle time and again.”
HSBC enjoys an 8.2 percent market share of the country’s entire external trade valued at almost $40 billion in 2010.
