The Hong Kong and Shanghai Banking Corporation (HSBC) today honoured eight business enterprises of Bangladesh for their outstanding contribution to the sustainable growth of the economy even during challenging times.

Commerce Minister Tipu Munshi handed over the crests to the winners of the 3rd HSBC Business Excellence Awards at an event at the Radisson Blu Dhaka Water Garden in the capital.

The Awards have been organised in partnership with the commerce ministry of Bangladesh and the British High Commission in Dhaka.

Ha-Meem Group, one of the largest textile and garments manufacturers in the country, was awarded in the readymade garment category with an annual export value of $50 million and above, according to a press release.

The company shipped products worth $700 million in the financial year that ended on June 30.

Pahartali Textile & Hosiery Mills, a spinning unit of MM Ispahani Ltd, was recognised in the supply chain and backward linkage category involving annual export receipts of more than $10 million.

Renata Ltd, a top pharmaceuticals manufacturer, won the accolade in the non-traditional and emerging sector with a shipment value of at least $3 million.

City Group, a commodity importer and processor, took home the honour in the best import substitution category. The award is given to a company that reduces or substitutes imports to a value of $10 million and above.

The organisers honoured Gildan, an American-owned Canadian manufacturer of branded clothing, as the leader in the inbound investment and infrastructure category. The company has been operating in Bangladesh since 2010.

Syngenta Bangladesh Ltd, a prominent name in agricultural solutions and products, won the recognition for sustainability initiative aimed at achieving better environmental, social and governance outcomes.

The award in the best in innovation and technology category went to bKash, one of the top mobile financial service providers, for its role in improving lives and the economy.

Square Group, one of the most prominent conglomerates with operations in diversified areas such as pharmaceuticals, healthcare, textiles, consumer goods, media and IT, was given the special achievement award for its exemplary contribution to the socio-economic growth, excellence in innovation, job creation, and supporting the community.

Congratulating the winners, Commerce Minister Tipu Munshi said the government would not be involved in any business, rather it would be an enabler to businesses.

“We are working to improve things in order to attract foreign investments, including facilitating the ease of doing business and improving the supply of power.”

In her speech, British High Commissioner to Bangladesh Sarah Cooke said, “A vibrant and resilient private sector drives Bangladesh’s economic development.”

“I am pleased that the British High Commission Dhaka is joining HSBC to honour the best of these enterprises through the Business Excellence Awards, celebrating the innovation and ideas, which strengthen economic growth, create jobs, and attract more foreign investments.”

HSBC Bangladesh Chief Executive Officer Md Mahbub ur Rahman said Bangladesh’s business groups are transforming and reaching new heights with their resilience and excellence in the respective fields.

“As we celebrate the success and achievement of these business houses with dynamic entrepreneurs, we are proud to recognise them for their continued pursuit to excellence and unwavering commitment to improve the standard.”

Gerard Kevin Haughey, country head of wholesale banking at HSBC Bangladesh, said HSBC is proud to partner with companies in various sectors, providing innovative solutions that help them achieve global excellence.

AK Azad, managing director of Ha-Meem Group, Tapan Chowdhury, managing director of Square Group, Mirza Salman Ispahani, chairman of Ispahani Group, Md Hedayetullah, managing director of Syngenta Bangladesh, Shampa Rahman, director of City Group, Edgar Arturo Oviedo, director for supply chain of Gildan, Sheikh Md Monirul Islam, chief external and corporate affairs officer of bKash, and Ananta Saha, head of the international business division of Renata, accepted the trophies on behalf of their companies.