PwC has opened an office in Dhaka, the capital city of Bangladesh. The office will see 500 local staff join the firm over a period of five years, as well as supporting international staff on assignment within the country. The office was inaugurated by Bangladesh’s Honourable Finance Minister Abul Maal Abdul Muhith.
Bangladesh has seen steady growth over the past decade of around 6.5% per annum and is this year on track, according to the IMF, for 7.1% growth. The country of 168 million is focused on exports, predominantly textiles, as well as agricultural produce. The capital city, Dhaka, is a key economic hub, generating approximately half of the country’s GDP in 2015. The city is home to a growing financial sector, as well as many of the country’s larger textile barons.
To support companies and firms situated in Bangladesh to continue to expand their operations in line with the country’s rapid growth trajectory, an office has been opened by the firm in the capital. The office will offer advisory and taxation services, to be serviced by local professionals, many of whom will be recruited over the coming five years. The firm’s international accountants and consultants, traveling to the city for business, will now also have a local base from which to meet clients.
To staff the office, a recruitment drive for 500 professionals, over five years, in the local region has begun, with a focus on those with a across educational background (for example, engineering, management, chartered accountancy). In addition, the firm will work with local bodies, like the Institute of Chartered Accountants of Bangladesh, to access promising talent. The new office was inaugurated Bangladesh’s Honourable Finance Minister Abul Maal Abdul Muhith, and further included the British High Commissioner to Bangladesh, Alison Blake and Deputy Chief of Mission of US Embassy in Dhaka, David Meale.
Avijit Mukerji, Director, PwC Bangladesh says that “The focus for us right now is to quickly build scale and offer solutions to clients based on our understanding of both the Bangladesh market and the global trends so that our clients here can get ahead of the curve. This becomes especially important as we expect our large global clients to invest and expand in new markets like Bangladesh.”
Mamun Rashid, Managing Partner at PwC Bangladesh, comments: “PwC is looking to build a long term relationship with its clients, people, and communities in Bangladesh through its newly set up office at Dhaka. Our plan is to build a high performing team of PwC professionals by recruiting talented individuals in Bangladesh. I am confident that the team we groom and develop will support an environment that encourages more companies to grow and expand.”