Local skilled hands have been capturing the top posts in the joint venture companies (JVCs) replacing the foreigners thanks to availability of better local market expertise, insiders said.
For having better quality and skill, a good number of Bangladeshis are holding executive positions at JVCs and the trend is on the rise, they said.
"For a better balance of cost, experience, and local market knowledge, JVCs are making strides to identify, train, and promote local talents to serve the Bangladeshi market," Rupali Chowdhury, President of Foreign Investors' Chamber of Commerce and Industry, Bangladesh (FICCI) told the FE.
She said: "Now the JVCs prefer local people for recruitment in the executive posts of the companies due to their hard work and honesty."
A few years ago most of the JVCs would prefer foreigners at the management level in their organisations but now they are inclining to local skilled generations, she said.
Ms Chowdhury, also Managing Director of Berger Paints Bangladesh Ltd said in their company most of the top positions are now held by Bangladeshis.
According to Board of Investment (BoI) data, in 2013 more than 181 JVCs took registration for recruitment of 33,011 Bangladeshis including a large number of leading posts.
The FICCI data showed currently more than one hundred local people are holding the executive positions and several hundred others are holding the mid-level ones in JVCs now operating in Bangladesh.
Fazlul Hoque, Former president of Bangladesh Employers' Federation (BEF) said a large number of Bangladeshi people are working in several JVCs and holding the top positions as they are highly qualified.
He said "In many areas we have highly qualified people who could compete with any foreigner".
In recent times advertisements for local recruitments in the JVCs have increased significantly as the companies prefer Bangladeshi citizens for the leading posts.
AKM Fahim Mashroor, chief executive officer of Bdjobs, a leading career management website in the country said a number of local people now have been driving the JVCs and also a large numbers of local people are holding midlevel positions.
He said many of JVCs are coming here with new or re-investments opening up door for a large number of local people to join the executive posts but the country does not have enough skilled manpower to fill up the posts.
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