Published date: 2/12/2021

Bangladesh is one of the world’s fastest-growing economies. To start a business in Bangladesh can be difficult if we do not have any background information about the country. Through this post, will help you to get more understanding about Bangladesh. You may see the differences compared to your country.

Location and Population

Bangladesh is bordered by the land of India in the North, within the East and Western side. In the East- the Southerner part is bordered by Myanmar. In the South, it is bordered by the Bay of Bengal. In 2020, Bangladesh’s total population is approximately more than 164 million people.

Multicultural Society

The population is made up of different types of races, religions, and ethnic groups. The main races are Bengali and very few ethnic people which are Garo, Chakma & Khasia, etc.

Bangladesh is a unique example of a multicultural country where along with the 98% Bengali population there are at least 45 small ethnic groups who possess different cultures like their own language, food habit, dress, music, etc.

Bangladesh is a Muslim-majority country. Muslims constitute around 90% of the population in Bangladesh while Hindus and Buddhists are the most significant minorities of the country. Christians, Sikhs, and atheists form a very minuscule part of the population.

Bangladesh Lifestyle

Bangladesh provides a friendly and hospitable place to live in with a life expectancy of 73 years old. Bangladesh has much to offer expatriates and their families a safe and comfortable living environment with 21st-century amenities, good healthcare, and medical facilities, excellent education provider, and well-known recreational and sports facilities at a lower cost compared to their home country.

Climate

Bangladesh includes a subtropical monsoon climate characterized by wide seasonal differences in rainfall, high temperatures, and humidity. There are three distinct seasons in Bangladesh: a hot, humid summer from March to June; a cool, rainy monsoon season from June to October; and a cool, dry winter from October to March. In general, maximum summer temperatures range between 30°C and 40°C. April is that the warmest month in most parts of the country. January is that the coldest month when the typical temperature for many of the country is about 10°C. facilities at a lower cost compared to their home country.

 

Economy

Bangladesh is a developing economy. It is the 35th largest within the world in nominal terms, and 30th largest by purchasing power parity; it’s classified among the following eleven emerging market middle income economies and a frontier market. Within the half-moon of 2019, Bangladesh was the world’s seventh fastest-growing economy with a rate of seven.3% real GDP annual growth.

Dhaka and Chittagong are the principal financial centers of the country, being home to the Dhaka securities market and also the Chittagong stock market. The financial sector of Bangladesh is that the second-largest within the Indian subcontinent. Bangladesh is one of the world’s fastest-growing economies.

Workforce

Bangladesh continues to offer a multilingual, educated, and productive workforce at very competitive costs. The quality of the workforce is said to be one of the best in the south Asia region.

Political System

The politics of Bangladesh takes place during a framework of a parliamentary representative democratic republic, whereby the Prime Minister of Bangladesh is that the head of state, and of a multi-party system. Executive power is exercised by the govt. Legislative power is vested in both the Government and parliament. The Constitution of Bangladesh was written in 1972 and has undergone seventeen amendments.

Are you interested in investing in your business in Bangladesh? Contact us to know more about Bangladesh. We offer business consulting services in Bangladesh including company incorporation, taxation, human resources and etc. HIS OCS is a one-stop solution to provide an overseas business expansion plan for your company.