BANGLADESH WANTS TO INVEST $8 BLN IN INFRASTRUCTURE


BANGLADESH WANTS TO INVEST $8 BLN IN INFRASTRUCTURE

BD DEVELOPMENTBangladesh’s government wants to invest $8 billion over the next few years in infrastructure to improve the economy and sought help from private sector to share the cost which the government could not bear alone.

SA Samad, the executive chairman of the state run Board of Investment (BOI) highlighted the figure while meeting with business leaders from bilateral foreign chambers of commerce in Bangladesh.

Bangladesh wants to become a ‘middle income’ country and to double export earnings to $50 billion by 2021.

Padma-BridgeThe World Bank last June upgraded Bangladesh to a ‘lower middle income’ country from a previous classification of ‘least developed’.

“If government provides favourable support like credit from banks or issuing sovereign bonds then the private sector can come forward to invest,” said Masud Rahman, president of Canada Bangladesh Chamber of Commerce and Industry (CanCham), speaking to Reuters after the meeting with Samad.

cover-story-1-602x428“Both government and private sectors are now quite capable of financing such investment.” he added.

“We told to the chief executive of BOI that entrepreneurs can not reap benefit of country’s attractive investment regime because of mainly lack of infrastructure that include roads and highways, ports, energy and gas,” Masud said.

RoadsBridgeIt was the first time that Bangladesh had organised a meeting between government and all bilateral foreign chambers.

Garments are a key foreign-exchange earner for the South Asian nation, whose low wages and duty-free access to Western markets have helped make it the world’s second largest apparel exporter after China.

*******************************************************

SEPTEMBER 19, 2015

reuters-logo-2008-cropped--300x79

Advertisements

About ehsannewyork

An aware citizen..
This entry was posted in ACHIEVEMENTS - SUCCESS, CHALLENGES, CURRENT ISSUES, ECONOMY, FOREIGN RELATIONS & POLICY, GLOBAL INDICATORS & BENCHMARK, GROWTH & TARGET, INDUSTRIES, STRATEGY & POLICY, TRADE BODIES, UNITED NATIONS and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s