AKIJ Resource sets sights on creating one million jobs in next growth wave: Sheikh Jasim Uddin

As Bangladesh's economy seeks new engines of growth amid slowing exports and rising automation, AKIJ Resource Limited, a leading conglomerate, is pivoting toward diversified, technology-driven, and employment-intensive ventures. In an interview with The Business Standard Chief Reporter Abbas Uddin Noyon, AKIJ Resource Managing Director Sheikh Jasim Uddin unveils his bold vision to create over one million jobs within the next decade. He shares insights into the company's expansion into the digital economy, agro-based industries, telecom, and retail healthcare sectors, while emphasising the role of family values, innovation, and social responsibility in shaping AKIJ's corporate DNA.

Can you tell us about the beginning of your business?

I joined the AKIJ Group in 2007 after completing my engineering degree. My father passed away in 2006, so I stepped in as a director, initially more as an inheritor than a full-fledged owner. While I had formal education in engineering, I quickly realised that academic knowledge alone wasn't enough to run a diverse conglomerate.

I spent the early years understanding internal processes, identifying both strengths and outdated practices. This led to our first digitisation initiatives. We developed a home-grown ERP system that integrated production, inventory, and financial management across all our units.

By 2020, I started AKIJ Resource with 4-5 companies with a combined turnover of Tk2,100–2,200 crore. Today, the figure is approaching $1 billion. Digitalisation not only streamlined operations but also laid the foundation for scaling into multiple sectors and preparing the company for the next wave of growth.

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What are the core business areas of AKIJ Resource, and what is its current status?

AKIJ Resource operates across building materials, logistics, technology, food, and commodities. Each vertical is designed to complement the others, enabling both revenue growth and employment creation.

We are particularly focused on expanding into employment-intensive sectors, such as retail and healthcare, to maximise social impact. Our goal is ambitious: we aim to create one million jobs across Bangladesh by the next decade. By leveraging technology, operational efficiency, and new investment models, we are laying the groundwork to make this vision a reality.

How do you plan to achieve this?

Heavy industries, while capital-intensive, typically employ fewer people relative to investment. To create large-scale employment, we are diversifying into retail, healthcare, and tech-enabled services.

For example, our retail initiatives, including AKIJ consumer Electronics and other pharma retail chain, are projected to require Tk2,000 crore in investment over the next three years. These ventures are not just about revenue; they are about creating value for society by improving access to goods, services, and sustainable jobs. Each new outlet, warehouse, or service point generates multiple employment opportunities – from logistics and supply chain to sales and administration.

Why enter the retail sector, given your background in heavy industry?

Heavy industries like cement and steel are capital-heavy but create limited employment. Retail, on the other hand, has proven globally to be a major employment engine. Companies like Walmart employ millions. This model inspired us to adapt similar principles in Bangladesh.

We separate fast-moving and slow-moving products to improve convenience for customers. Our approach is tailored to local conditions: high rents, operating costs, and infrastructure challenges in Bangladesh mean international templates cannot be copied directly. By creating a profitable and sustainable retail ecosystem, we ensure that our business supports both economic growth and community development.

How has digitisation transformed AKIJ Resource' operations?

Digitalisation is central to our success. Implementing ERP and CRM systems across units allows synchronised flow of information, materials, and money. This transparency reduces errors, enhances operational efficiency, and supports data-driven decision-making.

Take our retail pharmacy operations: digital platforms track inventory, sales, and finances in real time, connecting front-end stores with the back-office seamlessly. We are also preparing to launch an Islamic digital bank, designed to provide equity-based financing, credit scoring through data analytics, and partnership opportunities for SMEs.

These tools enhance governance, reduce the risk of fraud, and ensure regulatory compliance. In Bangladesh, where physical oversight is often limited, digital systems allow us to monitor performance, maintain control, and scale efficiently.

How do you plan to integrate technology and finance through digital banking?

Finance is the missing link in sustainable growth. While we have mastered material and information flow, financial access remains critical. Our Islamic digital bank will provide equity-based financing, credit scoring via data analytics, and partnership models for small businesses.

By enabling better access to capital, we empower entrepreneurs to grow sustainably. Digital banking also improves transparency, reduces delays, and connects investors with business opportunities. This strengthens the overall economy while fostering innovation and entrepreneurship.

How do you manage risk in retail and healthcare?

Retail and healthcare involve risks like inventory mismanagement, pricing errors, and regulatory compliance. We mitigate these risks with digital POS systems, ERP, and real-time analytics, which allow us to monitor stock, track sales, and detect anomalies quickly.

For instance, in pharmacy retail, we track prescriptions, monitor high-demand drugs, and maintain regulatory compliance. This safeguards the business while ensuring consumer trust and loyalty, which are crucial for sustainable growth.

How do you balance family legacy with modern corporate governance?

My father, Sheikh Akij Uddin, built  AKIJ on integrity, discipline, and compassion. Today, we have professional management structures, but our core family values remain intact.

Each unit is led by a professional CEO, compliance protocols are strictly followed, and decision-making is transparent. I strongly believe Bangladesh's private sector must evolve from family control to institutional excellence, combining tradition with modern corporate governance.

How do you balance business growth with social responsibility?

Business is not just about profit it is about improving lives. Every venture we undertake is assessed for both financial viability and social impact.

Digitalisation, financial inclusion, and job creation are three pillars of our corporate responsibility. For example, our healthcare retail network ensures quality medicines and services reach both urban and rural areas. In education and community development, we contribute to skill-building, healthcare access, and entrepreneurship programs.

Our philosophy is simple: a business can thrive only if the community around it thrives. Investing in society creates a sustainable ecosystem for growth, which in turn strengthens the economy and enriches lives.