Merchant Bay receives warm welcome from industry

We are very pleased to announce that Merchant Bay’s journey officially has started with an inaugural webinar on September 26, 2020.  We are overwhelmed by the love and support we received from our panelists, journalists, attendees and the industry. Our launching ceremony was enlightened with the presence of the Minister for Post and Telecommunication in the Government of Bangladesh, Mustafa Jabbar, member of parliament from Dhaka-10 and former president of FBCCI and BGMEA, Shafiul Islam Mohiuddin, incumbent president of BGMEA, Dr. Rubana Huq, Chairman of Merchant Bay’s parent company Sayem Group, Md. Monir Hossain and Director of Sayem group and Managing Director of Merchant Bay, Abrar Hossain Sayem.

Post and Telecommunication minister Mustafa Jabbar officially declared the inauguration of Merchant Bay.

He said, “Digital services are very important according to the current situation, and it is also the demand of the age. I am happy that Merchant Bay has taken such an initiative. I hope, through this platform, our domestic traders will be able to play a more important role in the country's export sector by communicating with foreign buyers very easily. I also thank Merchant Bay for not only focusing on the sourcing side but they also have a focus on improving factory management efficiency.”

Former FBCCI President Mr. Shafiul Islam Mohiuddin, MP believes Merchant Bay will make sourcing easier. He said, “I think Merchant Bay's e-B2B platform will make sourcing easier for both the factory and the buyer and it will be affordable for both. I am also hopeful that any manager will be able to run his factory more efficiently using the monitoring system it has.”

Appreciating the initiative incumbent BGMEA president Dr Rubana Huq said, “This is a very appropriate initiative. I think by using it, traders will be able to communicate with buyers outside the country very easily. Since Corona is changing buyer behavior, I believe this B2B platform will be very effective for everyone related to the RMG sector”

The Chairman of Sayem Group Md Monir Hossain thought the platform like Merchant Bay is the need of time. He said, “Merchant Bay has started its journey from the necessity of time. I believe Merchant Bay will help enrich Bangladesh's export market. I hope that with the cooperation of all, Merchant Bay will be able to reach its goal.”

In his opening speech, Merchant Bay managing director Abrar Hossain Sayem explained the platform.

Merchant Bay is an online-based B2B platform. It works with trade digitization, sourcing digitization, production monitoring. Merchant Bay is committed to ensuring the digitization of the supply chain by facilitating sourcing for both the producer and the buyer.

Merchant Bay will primarily work to build, verify, and create digital profiles of Bangladeshi RMG manufacturers to reach buyers worldwide. Merchant Bay will also be able to quickly connect suppliers with buyers, deliver updates with transparency, order processing, and production monitoring.

By using the platform, it will be possible to make analytical decisions that will make sourcing more affordable and increase production efficiency.

Merchant Bay will also help SMEs and new entrepreneurs in the garment industry to keep the supply chain active and uninterrupted. It will also help them to present themselves in new markets and to the buyers worldwide. In addition to establishing a relationship between the producer and the buyer, Merchant Bay has built supplier verification and production monitoring systems. Using the Merchant Bay Production monitoring system, a manager will be able to manage his factory more efficiently.

Watch the video of the webinar

The news of the event was published in over 50 media outlets. Including The Daily Star, Prothom Alo, UNB, Bangladesh Pratidin, Kalerkantho, Jugantor, The Financial Express, Daily Sun, The Business Standard, Samakal, Ittefaq, Banglanews24, Bangla Tribune, New Age, The Daily New Nation, Observer, Risingbd, Techshohor, Bangladeshpost, Notunshomoy.

Leading Television channels such as Channel 24, Channel I, Maasranga TV, ETV, Ekattor TV and Nagorik TV also covered the event.

We are thankful for all the support.