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The Hongkong and Shanghai Banking Corporation (HSBC) Limited in Bangladesh launched the third edition of its flagship initiative, the 'HSBC Business Excellence Awards', on Sunday.
The global bank, with a presence in 62 countries, will give the award in eight categories to promote enterprises and entrepreneurs who have made impactful contributions to the socioeconomic development of the steadily growing economy.
The theme for this year's awards is: 'Bangladesh: Proudly Resilient, Globally Excellent'.
Business enterprises and entrepreneurs can nominate themselves in these eight categories by completing a simple nomination form available at business.hsbc.com.bd/bea. The nomination process will remain open until October 1, 2023.
Md Mahbub-Ur Rahman, chief executive officer (CEO) of HSBC Bangladesh, shared details about this prestigious event at a press conference in Dhaka on Sunday.
He praised Bangladesh's socioeconomic progress over the years and said that HSBC Bangladesh has been supporting businesses and entrepreneurs in their growth journey for the last 27 years.
He said, "We are delighted to be recognising the exceptional businesses who have contributed to Bangladesh's trade growth, fulfilled domestic demand or facilitated the development of infrastructure as Bangladesh prepares to thrive in a post-LDC graduation scenario."
He also mentioned that the business excellence awards will be supported by strategic partners, including the Ministry of Commerce, the Government of the People's Republic of Bangladesh and The British High Commission Dhaka. Adjudication will be carried out by a jury board comprising members from HSBC's senior management team, the Ministry of Commerce and the British High Commission Dhaka, according to him.
The institutions selected by the jury board will receive their awards later in October or early November.
He also mentioned that the achievements of the selected candidates will be showcased on their website and through international channels.
The categories for the 3rd HSBC Business Excellence Awards are as follows: Ready Made Garments (RMG) having an annual export turnover of US$ 50 million and above, Export Excellence - Supply Chain and Backward Linkage with a minimum export turnover of $10 million, Export Excellence - Nontraditional and Emerging Sectors for Non-RMG and Textiles units with minimum export turnover of $3.0 million.
The remaining categories are Best in Import Substitution with a value of minimum $10 million, Leader in Inbound Investment and Infrastructure, Excellence in Sustainability, Best in Innovation and Technology and Special Achievement Award.