Banglamark Group is a diversified Bangladeshi industrial solutions provider operating across sectors including energy, infrastructure, agriculture and machinery. In this interview, Founder and Managing Director Rob Steven outlines how the company is targeting strategic growth opportunities through innovation and global collaboration.
Q: How has your vision evolved since founding Banglamark Group in 2010, and which decisions have most defined your tenure?
Rob Steven, Founder and Managing Director: We started the business in 2010 with the intention of addressing problems the nation was facing. We initially began with the energy sector, and we dealt with LPG because we wanted to find a solution for the people and for cooking gas. At that time, LPG was rare in Bangladesh since the industry was still small, and the cost was extremely high. We brought in a company from Denmark and Korea to set up LPG terminals. After that, we started communicating with big companies like BM Energy and Bashundhara LP Gas, where we made a presentation to help them understand that there is a market here in Bangladesh, and that we had conducted a feasibility study showing that the business would be sustainable. After that, support for LPG increased.
Once we had the energy market established, developed and our business was growing steadily, we started expanding into different segments such as infrastructure, port equipment, the marine sector and the heavy equipment sector. We also began working in the agriculture sector to help people living in villages, introducing them to agricultural machines and technologies. We introduced fertilisers and pesticides alongside agricultural machinery.
Before, we dealt only with B2B in Dhaka, but we are now working with B2C and retail as well. In B2C, we are directly dealing with customers and users at the field level for agricultural machinery. That distinctive approach is how we have grown over the last 15 years. We ensure our customers are satisfied by providing the right product and service. Our main goal and purpose are to make sure our customers are happy.
Q: How do you work to manage your company’s reputation, and how do you aim for your operations to be perceived by UAE investors, partners and clients?
RS: Whenever we start a business, we create our customer and product outlook, and if we see that customers are satisfied and the business is growing, we continue with it. However, to do that continuously, we need a partner, and the UAE and the Middle East are some of our preferred investors. We now have a 20% share in a Danish company in Bangladesh through our joint-operation business. In the same way, we could do something similar with UAE companies. They can come and invest in us, as they would benefit from our business operations, experienced team and secure investments. They would not lose any investments and would receive full transparency and business growth because we know how to make the most profitable business for them. No investor wants to lose money, and our goal is to ensure these investments are profitable while we grow together with their investment. It is a win-win situation.
Q: What partnerships with UAE-based investors and institutions would you be open to?
RS: We have business cooperation with Japan and Denmark. We have had a joint company operation with Makeen Energy for the last seven years, and we have been working with Japan for almost 15 years. As for the UAE investors, they have the money and capability to invest, and we welcome them to invest here across numerous sectors, especially in agriculture, renewable energy and sustainable projects. We can ensure their investments are secure. We also urge them to invest in any government project where we can support them as their partner here. I think the most feasible investment for them would be renewable energy.
Bangladesh also has a suitable location compared to China and India, because India has many internal issues and their policies are not business friendly, while China is facing geopolitical challenges. Bangladesh is free from these global impacts, and the returns are better. In addition, Bangladesh can become a global gateway for exports by investors. We also have plans to set up a filter factory for automobiles starting next year, with our main market target being the UAE and the Gulf area, because they are the main source of fuel.
Q: What aspects of your operations were most instrumental in being recognised as the Forbes India Select 200 and an Outstanding Regional Dealer in Industrial Vehicle by LIUGONG Machinery in 2024?
RS: Every year, we receive nominations or selections from both local and international organisations, such as Forbes, due to the company’s constant growth. Whatever sector we enter, we usually see success because we have a formidable team in the backend who can build the business. I produced the idea, but they produced the operation. It is a good combination to run the business and achieve our goals. Over the last decade, we have been growing and diversifying in different sectors. We have imported and assembled a lot of machinery because our intention is not only to grow domestically, but also to go global with technological projects and business.
Our core export business is textiles, followed by the freelancing business. Bangladesh has yet to export more manufactured products, but if you look at countries like China and India, they are going global despite only setting up small factories. We are studying these ideas and how we could apply them to our own products to grow globally. The country sees the LPG industry as a 2-million-tonne industry, and we supply almost 1.8 million tonnes of LPG. In the next ten years, we plan to expand into sectors in Bangladesh where we can ensure the country will continue working with us.
Q: How important is technological and digital innovation to your operations, and how are you integrating it across the other sectors in which you operate?
RS: Nowadays, the costs of operation and raw materials have increased. However, we need to identify what is causing the increase in cost and how to address it; we cannot simply start reducing the production of our products. With the use of innovative technologies and machinery, we can decrease the time needed for harvesting. Using nano fertiliser would also cost less than traditional fertilisers. We need to introduce modern technology in agriculture, as it would help reduce costs while yielding more.
Today, electric vehicles are becoming more popular because operating costs are cheaper. The challenge we face is the infrastructure and finding the right locations for charging stations, but usually, it is a one-time investment.
Q: What role does sustainability play in your business strategy, and how are you contributing to the country’s renewable energy transition?
RS: We have started working in renewable energy after the government recently introduced a new policy that allowed us to operate in this sector. Every household can now begin setting up its own solar energy system on its rooftop due to this initiative by the government. Any investor can also invest and connect to the grid to sell to the public. Our company also intends to enter this industry to contribute to renewable gas and green energy. We have already started this through the nano fertiliser, as it has no carbon emission impact. Slowly, we need to move towards more sustainable means, which is also our focus for the next five to ten years.
Q: What is your message to investors from the UAE about why now is the time to invest in Bangladesh?
RS: Over the past year and a half, the country has been undergoing a lot of change, and we expect our economy to continue growing over the next five years. Bangladesh is a good place to invest because there are still many sectors open for investment, and investors are looking at a population of 160 million. JICA invested in the Matarbari greenfield project for around 3 billion, and since then, it has become phenomenally successful. Any Gulf country that wants to invest here would surely receive benefits because it is safe to invest in Bangladesh.
Q: How have your past experiences influenced your leadership style?
RS: When I started this business, I learned a lot from Makeen Energy, and they taught me the way a teacher would. I was not focused on the business or working hard because I was still chasing the fun side of things, but they trained me on how to grow and how to read the customer. They also taught me how to manage people. After that, I realised that I should contribute, and that is how my vision to start my own business began. I wanted to find a sector that would benefit society and that was also niche enough for me to grow. At that time, the major sectors were already dominated by large companies, and new investors had to select niche products or face intense competition. Young entrepreneurs and start-ups might struggle to find ground, which is why I decided to go into LPG and then agriculture. When I introduced nanotechnology, Bangladesh had yet to use it, even though it was already widely used in other countries.
