The New Nation - Internet Edition

BUSINESS REPORT

The Local Enterprise Investment Centre (LEIC) recently signed a contribution agreement with Creation (Pvt) Limited, for capacity building of the company through training of 225 persons.

The three-month long training program will develop the expertise and practical skills of the trainees, most of whom are women, in wet process technology and jute-based product and hand-woven fabric manufacturing. This will allow Creation, an export-oriented company, to achieve accelerated growth and take advantage of the favorable global market conditions for diversified jute-products.

LEIC is a private sector development project contributed by the Canadian International Development Agency, and managed by IDLC Finance Limited, the largest (non-banking) financial institution of the country.

Opportunities in the diversified jute-products sector in Bangladesh have remained largely unexplored, in spite of the rapidly expanding market for biodegradable and eco-friendly products. In this context, the success of Creation in the international market is expected to encourage other local entrepreneurs, to make creative use of jute as a raw material for high value exportable products.

Anis A. Khan, CEO and Managing Director of IDLC, and Md Rashedul Karim Munna, Managing Director of Creation, signed the agreement on behalf of their respective organizations. Yongbok Jo, Deputy Managing Director of IDLC, Israt Ara Younus, Centre Director of LEIC, Ziaul Hoque Khan, Chief Financial Officer of IDLC and Rubaiya Farhana, Marketing Manager of Creation were also present at the event.