In a recent election development in Bangladesh, the Awami League has nominated Beximco Group head Salman F Rahman for Dhaka-1 constituency.
The move does not come as a surprise for the political sphere of Bangladesh, since Salman F Rahman has been advising Prime Minister and Awami League chief Sheikh Hasina on private sector development affairs over the past several years. In addition to his advisory role, he also headed the apex trade body FBCCI in mid-90s and currently is a director of Dhaka Stock Exchange and Bangladesh Securities and Exchange Commission.
The journey from an economic powerhouse to a statesman, however, has been quite eventful for Salman F Rahman. From being the Vice-Chairman of Beximco and a leading businessman of Bangladesh, Salman has been pivotal in Beximco’s global growth and has been a catalyst in the country’s growth.
Starting from an inherited jute mill in South Dhaka, he started a multi-dimensional business, Beximco group stands to be the biggest conglomerate of Bangladesh with its net worth in billions.
In 1972, Salman F Rahman founded Beximco with ‘crushed bones’ and seafood exports to companies in Germany, France, Belgium, Netherlands, and Britain in exchange of medicines. In 1980, he set up Beximco Pharmaceuticals – setting the growth chart for the next three decades for Beximco. While initially the company imported medicines, the annual revenue helped them establish their own manufacturing and distribution chain over South Asia and then globally. Following that, the vision and execution of Salman F Rahman formed multiple arms of Beximco Group ranging from textiles to ceramics.
While the company bolstered Bangladesh’s global exports and reception, it also mirrored the economic growth of the nation. The inadvertent effect of in-tandem growth created the opportunity for Bangladesh to leverage its potential and strengthen indigenous industries – while making Salman F Rahman one of the foremost experts on economic growth and business development. Experience of four decades combined with business acumen made him a paragon of corporate growth in the country.
Rahman is expected to bolster the country’s economy with his leadership skills and streamlined approach. His understanding of the small business contributions along with the vision of labor’s maximum utilization could play a crucial role in strengthening the core of country’s private sector.
His experience in developing a conglomerate to a global level would help the country focus on future prospects and build up its local potential. The nomination of Salman F Rahman could also be considered rather fortuitous for Bangladesh’s business sector and economy – considering the immense experience and foresight which he could bring for the economic development of the country. Moreover, Salman F Rahman’s nomination plays well with the current direction of Bangladesh’s economy – where the nation is looking to ramp up its economy and create a conducive atmosphere for its local business while utilizing its incumbent potential.
With the Awami League’s nomination of Salman F Rahman for the Dhaka-1 constituency, it will be interesting to see how the industrialist blends in a political atmosphere. The nomination could also set a political and national precedent and possibly commence an economic overhaul for Bangladesh with a stronger political resolve and the necessary expertise and vision guiding the growth.