HSBC Bangladesh has relaxed the terms and conditions for a newly introduced “Excellence in Import Substitution” category of the eighth edition of HSBC Export Excellence Awards.
Companies of any operating age now can nominate themselves by filling up a form by August 31, the bank said in a statement on Monday, adding that the change has been made to encourage wider participation.
The new category will recognise Bangladeshi manufacturers that have successfully reduced or substituted imports to a value of $10 million or more per annum.
“Initially, it was mentioned in our website that nominations/applicants who are in the business or manufacturing the product in last 5 years of or less and turnover is $10 million or more could apply,” the bank said.
“However, now it's open to all companies of any operating age,” it added.
This year, HSBC will honour four exporters and one import substituting company for their contribution to the sustainable growth of the national economy.
-rmc//
