Preparing to explore full market potential of Bangladesh

1 Aug 2017

With a population of over 163 million, Bangladesh is classified as one of the world’s least developed countries. Now however, the government plans to transform it into a developing country by 2021. Anticipating the rapid economic development of Bangladesh, Yale is set to expand its presence here, opening up this market.

Like other South Asian countries, Bangladesh is developing at a very rapid rate with lots of infrastructure and residential building projects underway. Expecting to unlock the massive market potential, President of ASSA ABLOY South Asia Manu Ahuja says: "There is a stable macroeconomic environment and dynamic private sector in Bangladesh. We see that both the commercial and residential markets are crying out for quality door-opening solutions. So, we have set up a distribution channel for Yale products, starting from last year."

With an increasing demand for high-quality security products, three Yale Digital Houses have been established in the Bangladeshi capital Dhaka (the country’s largest city), featuring the latest Yale products including digital door locks, digital safes, digital door viewers and so on.

"We foresee that the large population, rapid urbanization and rising living standards will drive steady growth in the demand for our products in the coming years," says General Manager of ASSA ABLOY’s South Asia Emerging Markets Usman Ishaq. "We will therefore also expand our footprint towards the second- and third-largest cities of Bangladesh – Chittagong and Khulna respectively."

Apart from bringing innovative, secure and convenient solutions to Bangladesh, Yale will also lead the market in raising the standard of security products in the country, and become the top security solution provider.