Shanto-Mariam University of Creative Technology

ASSIGNMENT

Topic : COVID-19 and Bangladesh, how Bangladesh should response

to business and economy?

Submitted to
FARHANA YASMIN LIZA
Assistant Professor
DBA

Submitted By
SUMIYA AKTER
ID: 161201001
Sem: 8th
Batch : 15th
B.F.A (Department of Fine Arts)
Course code : MIS-409
Course Title: Business communication -||

Submission Date : 26th june 2020

 How Bangladesh should response to business and economy.

COVID -19

Corona virus disease (COVID-19) is a infectious disease caused by a newly discovered

corona virus.

Most people who fall sick with COVID-19 will experience mild to moderate symptoms
and recover without special treatment.
This virus that causes COVID-19 is mainly transmitted through droplets generated when
a infected person coughs, sneezes,or exhales. These droplets are too heavy to hang in the
air and quickly fall on floors or surface. Any if he/she is within close proximity of some one
who has COVID-19, or by touching a contaminated surface and then his/her eyes, nose or
mouth.

The virus was confirmed to have spread to Bangladesh in March 2020. The first three
known cases were reported on 8 March 2020 by the country's epidemiology institute,
IEDCR. Infections remained low until the end of March but saw a steep rise in April. In the
week ending on 11 April, new cases in Bangladesh grew by 1,155 percent, the highest in
Asia.As of 25 June 2020, there have been a total of 126,606 confirmed cases in the coun-
try, with 51,495 recoveries and 1,621 deaths. The capital city of Dhaka is currently the
most affected district.

Business and Economic threats

The impact of the COVID-19 disease on the Bangladesh economy is likely to be very large.
Many tourism, hotel, catering, cosmetics etc. Business are currently losing most,almost all,
on all customers because people are afraid of corona virus infection causing COVID-19
disease and this is also associated with various mobility restrictions away from home and
with a warrant or recommendation to stay at home as part of preventive Quarantine in
many countries. As a result, many companies are already recording large declines in sales
and profits, limiting employment or stopping their business.
Current economic data already confirm the theses that probably now(April 2020) in many
countries an economic crisis is beginning. Which may after a few months turn into a debt
crisis of the state finance system.
Bangladesh's response to business and economy

The response so far is admirable. Yet this pandemic also poses an economic and business
crisis. While many countries have made good starts in stimulus packages.
Bangladesh has been slower to react. The prime minister initially announced an emergen-
cy stimulus package of $ 600 million on 25 march which on 4th April was enhanced
significantly to $8.5 billion.

According to the forecast released by the economist intelligence unit on 26 march, the
global economy is expected to contract by -2.2% in 2020. These effects are expected to be
more pronounced in major G20 economics. Such as Germany, Italy, The United Kingdom
and The US -all countries that are major markets for Bangladesh most vital trade able
good readymade garments.

The government should also consider an unconditional cash transfer program for an
initial period of three months at a rate of $95 per month, which corresponds to the mini-
mum wage for the formal sector in Bangladesh. This would cost the government roughly
$14 billion, or 4% of GDP. While this sort of cash transfer program always suffers from
targeting issues, Bangladesh enjoys a highly sophisticated mobile financial services
network, which could improve the cover of the program. A concerted effort involving the
non-governmental organizations working in the informal sector, mobile financial service
providers, and the government could be developed to deliver this urgently needed social
assistance.

Bangladesh's leaders in the public and private sector must come together to respond to
the immediate threats to business and the economic threat country’s economy.