Number One Environmental Friendly Factory

Number One Environmental Friendly Factory in the World

Can you guess which one is the number one environmental friendly factory in the world? I think you would not be able to guess the right one.

You will be surprised to know that a factory from the developing country recently attains the achievement of world’s number one environmental friendly factory which is located in Bangladesh. Although a factory from a developing country like Bangladesh; from their current economic condition right now it is impossible to ensure all the factors for becoming an environmental friendly factory because of lack of developed infrastructure. But we are trying to improve our factory environment according to the guidelines provided by the government and from this, we get the positive outcome of improvement of factory condition by the success of Plummy Fashion.

number one environmental friendly factory

Factory of Plummy Fashions

Plummy Fashions is number one environmental friendly factory in the world certified by the United States Green Building Council (USGBC) which is located in Bangladesh near Dhaka city, Narayangonj. This is a great achievement by the Bangladeshi company. USGBC basically works for ratings of the company’s/ factories environmental condition and green building. The rate is based on different factors related to the company/factory. There are four categories of rating points first one is certified (40-49 points), second one silver (50-59 points), third one gold (60-70) and last one platinum (80 plus).

If a company or factory which gets 80+ points then it is considered as an environmental friendly factory; whereas Plummy Fashions got 92 points which is the highest point ever a company get from the USGBC ratings around the world. Because of this achievement by the Bangladeshi company we are getting a positive indication of doing, what is good for our employees working condition and environmental factors.

After the deathly incident (Rana Plaza crashed, Tazreen factory fire, Spectrum factory, KTS textile mill) happened in the recent year’s buyers are now more concerned about the work environment, a safety measure for the workers and for the factories. To ensure the safety of workers huge pressure is coming from the foreign buyers and from the government of Bangladesh. Now each and every company trying to ensure safety and a good working environment in Bangladesh and many companies attain a good overview from the regulatory body that the company is secured enough to work.

Now come to the point that what makes it possible for the Plummy Fashions to achieve this recognition of world’s number one environmental friendly factory?

For ensuring and maintaining the standard of SUGBC Plummy Fashions actually tried to do the followings very much strictly.

  • A proper building code is maintained when making building and infrastructures.
  • It follows LEED manufacturing standard for installing machinery and installed calibrated machinery.
  • For using solar energy this company setup larger solar plant in Bangladesh.
  • Chlorofluorocarbon (CFC) free cooling system is adapted
  • Ensure proper use of water which is collected from the rainwater and underground water. Also, they ensure reuse of water for minimizing water wastage.
  • Use of LED light in the factory
  • Use of low energy consuming machine
  • Also, their system ensures a lower level of carbon footprint.

Not only limited to these factors, but also there are many other factors which are strictly controlled and maintained by the Plummy Fashions, which working behind their achievement.

Advantages an Environmental Friendly Factory can get

As we all know that now people around the world are more conscious about the health of the people and the environment, so if a company can ensure to meet the expectation of people then definitely they will be treated differently and for their product, they will be ready to spend more money.

Hope all other company will be inspired by watching the achievement of Plummy Fashions and will try to improve their factory condition and finally they will become an environmentally friendly factory.

Overview and Growth of Financial Industry

Overview and Growth of Financial Industry of Bangladesh

The economy of Bangladesh is a mixed economy where both government and private sector control the economy by planning and mixture of market. In a broader sense we can divide our economy into several industries. Financial industry is one of the leading industries which have great potentiality. Every year this industry is contributing large amount of value to the GDP (Gross Domestic Product) of our country (Bangladesh).

With the expansion of the economy we require to ensure security of money and effective use of the money. Considering these needs financial institutions are formed. In our country both bank and non bank financial institutions are available. Bank provides pure banking services and other financial services provided by non-bank financial institutions. Non bank financial institution can be financial intermediaries, insurance companies and leasing companies.

Central Bank of Bangladesh (Bangladesh Bank) is the sole institution responsible for controlling the financial institution and financial industry. Under the control of Bangladesh bank there are 65 banking institution (private, public/ state owned, specialized, and foreign) and 32 non bank financial institutions (mainly private) provides leasing and investment facilities and 62 insurance companies (private, public, foreign) providing life insurance and non life insurance policies.

Contribution of Financial Institutions to our (Bangladesh) GDP

Every year millions of taka is contributed by these financial institutions and is expanding exponentially. For this reason this industry considered as a base industry for our country. If we see the trends of contributions made by this industry then it will be clear that how much value added. From the last 5 years of data we can forecast that in the upcoming year our GDP will grow much more than these years.

contribution of financial institutions to our GDP

Contribution of Financial Institutions to our GDP

Percentage of Contribution to our GDP:

People can say that only 3% plus contribution is not much for an economy. But I am strongly saying that this percentage looks small but the amount of contribution is huge. In 2009-10 the contribution was 3.08% but with the passes of time this percentage is increasing. Last year that is 2013-2014 the contribution was 3.85%. Hope in the next year this will reach to 4%.

overview and growth of financial industry

Percentage of Contribution to our GDP

Growth of Financial Industry:

Although this industry is doing well but with the change in the economic condition the growth also changes. There is huge change in 2011-2012 in the financial sector according to the contribution to our GDP. Because of more foreign direct investment there is inflow of funds in the economy which circulate through financial institutions. Investment in long term asset and infrastructural development was done by the government and private sector. The positive sign is average growth is 15% plus. Near future hope this will reach at 20% plus with the expansion of total economy.

growth rate of financial institution

Growth Rate of Financial Institution over the Years

From the above identification we can assume that one day our economy will be much more efficient. Because we have financial institutions with modern technology which providing services as per required by the people at any time anywhere.

Written by

Md. Nahian Mahmud Shaikat

Student of MBA

Institute of Business Administration (IBA)

Jahangirnagar University

Email: [email protected]