Private Enterprise and the Sustainable Community Economic Development in Bangladesh A Case Study on the PRAN-RFL Group

Abstract

Community Economic Development (CED) practice in Bangladesh is vital in ensuring the sustainability of the community and economy of Bangladesh and it contributes to the creation and maintenance of economic, social, ecological, human, political, and cultural capitals of communities in a sustainable and progressive manner. Existing literature in Bangladesh perspective mostly focuses on NGO contributions. However, local large conglomerates have contributions in this aspect and the study would like to tap on the research gap by conducting an intensive case study on PRAN-RFL Group (PRG), one of the largest conglomerates in Bangladesh and South East Asia. The case study provided a theoretical background of the business profile of the PRG. Researchers collected data from the organizations about their CED contributions to different areas ofBangladesh even in the ongoing COVID19 time. PRG's contributions to those remote areas were found significant and valuable to make the society sustainable and resilient. For this reason, the partnership between the PRG and the community (individual entrepreneur) was remarkable. The study concluded that PRG's contribution to the CED practices set examples of their competitors of Bangladesh in various CED practices. The study recommended further quantitative analysis in assessing community farmers and reverse migration in this aspect.