Best in business honoured

The story of Bangladesh is often told through impressive growth charts that portray the nation as an emerging economic force. However, behind these macroeconomic statistics are the people who have fuelled this transformation -- the entrepreneurs whose ambition has lifted a nation from poverty to an economic contender.

For 23 years, the Bangladesh Business Awards (BBA), a partnership between DHL Express and The Daily Star, has chronicled this journey. The awards serve as a powerful reminder that the country's true strength is rooted in its private sector. Last night, it was a celebration of the private sector's strength, resilience and contribution to the economy.

The awards ceremony honoured five outstanding entrepreneurs and enterprises, but perhaps the most important moment was the recognition of a business icon, M Anis Ud Dowla, chairman of ACI Ltd. He was bestowed with the Lifetime Achievement Award for his contribution to an economy now valued at $460 billion. His story, like many others celebrated at the event, is a testament to the power of unwavering dedication.

"You have to be competitive; you'll have to look at the global situation and, of course, the local."

— Salehuddin Ahmed, finance adviser

Finance Adviser Salehuddin Ahmed presented the awards to the winners at the Radisson Blu Dhaka Water Garden. SK Bashir Uddin, commerce adviser, was also present.

The other four categories are the Business Person of the Year, Best Financial Institution of the Year, Best Enterprise of the Year and Outstanding Woman in Business.

Ahsan Khan Chowdhury, chairman and CEO of Pran-RFL Group, was honoured as the Business Person of the Year 2024.

Under his stewardship, a modest family-run agro venture expanded into one of Bangladesh's most diversified conglomerates, spanning more than 6,000 product lines -- a transformation that mirrors the country's own improbable economic ascent.

Walton Hi-Tech Industries PLC was recognised as the Best Enterprise of the Year award.

It has transformed Bangladesh's electronics market, shifting from import dependence to global competitiveness. Founded in the early 2000s, the company now exports to more than 50 countries, and symbolises the nation's industrial diversification.

SM Mahbubul Alam, managing director of Walton Hi-Tech Industries, received the award.

City Bank received the Best Financial Institution of the Year 2024.

Once considered troubled, City Bank has emerged as one of Bangladesh's top lenders. Founded in 1983, it now boasts strong asset growth, a vast agent banking network, gender-focused initiatives, and net profit exceeding Tk 1,000 crore in 2024, underscoring its financial resilience and governance reforms.

Mashrur Arefin, managing director and CEO of City Bank, received the award.

Sadia Haque was awarded the Outstanding Women in Business of the Year 2024.

Leaving a thriving corporate career, Sadia Haque co-founded ShareTrip, Bangladesh's leading travel-tech startup.

She pioneered digital booking and fintech services. As a female founder, she champions entrepreneurship, breaking barriers in a male-dominated industry while redefining how Bangladesh travels.

Congratulating the winners, Adviser Salehuddin said Bangladesh's businesses had shown "remarkable dynamism" in expanding their reach beyond national borders.

He recalled being "pleasantly surprised" to find Pran Chanachur on shop shelves as far as Fiji. "This is how Bangladesh goes far away," he said.

Ahmed called on the country's private sector to prepare for a more competitive global environment after graduation from the Least Developed Country (LDC) bracket.

"You have to be competitive, you'll have to look at the global situation and of course the local. We definitely try to facilitate all kinds of support through policy reforms, through process simplifications and through other support instruments," he said.

"Bangladesh is on a transformation journey, and its private sector continues to be the engine of growth."

— Md Miarul Haque, managing director, DHL Express Bangladesh

Md Miarul Haque, managing director of DHL Express Bangladesh, said Bangladesh's private sector must evolve with agility, innovation, and collaboration to remain competitive in a fast-changing global economy.

"Bangladesh is on a transformation journey, and its private sector continues to be the engine of growth. At DHL, we are proud to celebrate the leadership that drives this progress. Tonight's awardees are not only shaping industries but also contributing to the nation's economic advancement and global competitiveness."

"You [interim govt] may only have six months, but even that is enough to implement critical, low-hanging reforms and leave a roadmap for the next administration."

— Mahfuz Anam, editor, The Daily Star

Mahfuz Anam, editor and publisher of The Daily Star, also lauded the past winners of Bangladesh Business Awards. "These individuals represent the best of Bangladesh's private sector -- those who have built with integrity, broken barriers, and moved the nation forward."

Anam underscored that Bangladesh is nearing its graduation from the LDC status, yet concerns remain about readiness.

He argued that part of the answer lies in the state's inconsistent support for the private sector. While some businesses have thrived through political patronage and corruption, honest entrepreneurs often face systemic neglect. "We must distinguish between honest and dishonest businessmen," he said.

Anam also called on the interim government to initiate targeted reforms during its remaining term. "You may only have six months, but even that is enough to implement critical, low-hanging reforms and leave a roadmap for the next administration," he said.

WINNERS' REACTION

Receiving the Lifetime Achievement Award, Anis Ud Dowla said, "I am honoured and humbled by this recognition. It is truly an inspiration to strive for even greater excellence."

Anis Ud Dowla transformed ICI into ACI, one of Bangladesh's largest conglomerates, employing 30,000+. From a 27-year multinational career to pioneering local industry, he champions ethics, continuous learning, and youth entrepreneurship, seeing Bangladesh's population and rising middle class as the foundation of future growth.

"This is the third time I feel honoured at this platform. In 2011 and 2017, I had the privilege of receiving awards on behalf of ACI and myself. But this Lifetime Achievement Award is profoundly moving," he said.

He cautioned against stagnation, noting that experience should not be the same year repeated many times. "Each of us owes it to ourselves to keep improving. Innovation must be our constant companion."

"Be punctual. Time is valuable. Not just yours, but everyone's."

Pran-RFL Chairman and CEO Chowdhury said, "I must say, I didn't have to do much in the beginning. It was the people behind Pran-RFL who made it happen. It's our customers who have carried us forward."

ShareTrip CEO Haque said, "Tourism is not often seen as a key contributor to the GDP or economic growth. I hope this recognition, both for myself and for ShareTrip, marks a turning point for the industry."

Walton MD Alam called the award timely ahead of LDC graduation. He urged continued backing for local industries, saying, "Just as others say 'Make in India' or 'America First', we say: 'Bangladesh on Top'."

City Bank CEO Arefin reflected on the bank's transformation journey. "This was a long-anticipated recognition," he said. "City Bank's transformation began in 2007, from what was then considered a problem bank, with two central bank observers on its board, to now being one of the country's leading financial institutions."

"In a time when public trust in banking has been challenged by high-profile failures, City Bank stands as a counter-narrative -- proof that visionary leadership and board-level integrity can achieve real, measurable change," he added.

The event was attended by Sarah Cooke, British high commissioner to Bangladesh; Tapan Chowdhury, managing director of Square Pharmaceuticals; Simeen Rahman, group CEO of Transcom Group; AK Azad, chairman and CEO of Ha-Meem Group; Abdul Muktadir, chairman and managing director of Incepta Pharmaceuticals; Zaved Akhtar, president of The Foreign Investors' Chamber of Commerce & Industry; Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh; and Syed Mohammad Kamal, country manager of Mastercard.

Shaheen Anam, executive director of Manusher Jonno Foundation; Fahmida Khatun, executive director of the Centre for Policy Dialogue; and Geeteara Safiya Choudhury, a former caretaker government adviser, were also present.

Kazi Wahidul Alam, editor of tourism and aviation fortnightly Bangladesh Monitor; and Dewan Hanif Mahmud, editor of Bonik Barta, among others, attended the event.