PRAN-RFL eyes $1b exports by 2025, $2b by 2030

PRAN-RFL Group, one of the country's leading business conglomerates, plans to double its export earning to US$1.0 billion within the next three years.

It is also planning to reach the $2.0-billion export-earning benchmark by 2030 - based on its diversified range of products and markets.

The group's export that started in 1997 by sending pineapples to France stood at $532 million in last fiscal year, 2021-22.

Of the amount, ready-made garments (RMG) export brought only $100 million, while the rest came from non-RMG items, including agro and agro-processing, plastic, and light engineering.

"A country's growth depends on its export, and export growth depends on diversification. Everything that is made in our beautiful country must be exported," said Ahsan Khan Chowdhury, Chairman and Chief Executive Officer of the group.

"We are planning to include all our products in the export basket - to achieve the export target of $1.0 billion and $2.0 billion by 2025 and 2030 respectively."

He made the disclosure at a press meet - "25 years of PRAN-RFL export: Taking Bangladesh to the world" - held at a city hotel on Sunday.

Kamruzzaman Kamal, Director (Marketing) at PRAN-RFL Group, Touhiduzzaman, Head of Public Relations, among others, were also present at the event.

The group exports at least 1,000 products of seven (of the top 10) potential sectors, including agricultural products, plastic items, RMG, footwear, light engineering, chemical products, and furniture, to some 145 countries, Mr Chowdhury added.

Its exported products include juice and fruit drinks, beverage, biscuit and bakery, sauce, ketchup, noodles, jelly, spices, confectionary, frozen foods, RMG, household plastics, shopping bags, hanger, furniture, bicycle and footwear.

"Our group's products are now competing with well-known brands of different countries and are being placed in famous chain-shops, which are a matter of great pride for the country."

The products are available in chain-stores like Walmart, Carrefour, Loblaws, Aldi, Lidl, Mydin, Dollarama and Tesco.

About 80 per cent of the country's export earnings come from the RMG sector. This is the high time for diversification of its export to attain the overall export target of $80 billion by 2024, he added.

Beyond RMG, processed food, leather and footwear, bi-cycles have huge demand in the global market. PRAN-RFL Group is working tirelessly to diversify the country's export, and it wants to lead from the front.

Spreading PRAN-RFL products across the globe is one of the main goals of the group. That is why the group wants to export all the products it manufactures and markets for consumers in the local market, the group chairman noted.

The group received national export trophy for 17 consecutive years and directly employs a total of 1,40,000 people. It is planning to export its products to every country in the world, which will create huge employment opportunities in the country.

PRAN-RFL has also planned to manufacture products in at least four to five places around the world, subject to approval from the government, in case their manufacturing faces obstacles in the country.

Terming the current export growth 'well' despite the global crises, including the pandemic and Russia-Ukraine war, Mr Chowdhury said, "We had a chance to do better."

"But we have not been able to fully exploit that opportunity due to various reasons, including non-availability of liner services on particular routes, increase in freight costs at abnormal rates, and not having enough containers."

Terming the government's policy supports export-friendly, he sought further supports, like improving the ports' facilities and enhancing their efficiency, to boost the country's export.

To increase export, creation of fund for branding the country as well as its products, funding support for participation in tradeshows in different countries, introduction of international-standard testing labs, export insurance, and good agricultural practices can play an effective role, he noted.