Japan eager to sign FTA with Bangladesh
FE Report | Published: January 25, 2019 12:19:25 | Updated: January 25, 2019 13:10:22
Japan has shown interest to sign free trade agreement (FTA) with Bangladesh, officials said on Thursday.
Japanese Ambassador to Bangladesh Hiroyasu Izumi expressed his interest when he met Finance Minister AHM Mustafa Kamal at the latter's secretariat office in Dhaka on Wednesday evening.
Japan International Cooperation Agency (JICA) Chief Representative in Bangladesh Hitoshi Hirata and high officials of the Japanese Embassy and JICA office in Dhaka were also present at the meeting.
During the meeting, Mr Kamal urged the delegates to boost Japanese investments in Bangladesh saying, "This is high time for any global investors to invest in Bangladesh."
The finance minister thanked Japan for extending its economic and financial cooperation especially in infrastructure development work.
The Japanese envoy assured the minister of helping Bangladesh reform the tax management system and develop solid waste management system, said a statement of the finance ministry on Thursday.
Mr Izumi also informed him that Japan is now providing some Yen 200 billion worth of loans for six projects including MRT-6 line construction work.
The loan package will be increased for Bangladesh's different projects in the future, he said, adding that Japanese people are very much friendly to Bangladesh as Tokyo is providing assistance from taxes the people are paying.
kabirhuamayan10@gmail.com
https://thefinancialexpress.com.bd/...-eager-to-sign-fta-with-bangladesh-1548400222
Saudis plan big investment in Bangladesh
*High-powered team arriving next month *Fertilizer, cement, power plants target
Friday, January 25, 2019
Kazi Zahidul Hasan :
The Kingdom of Saudi Arabia (KSA) is planning to make a big investment in Bangladesh along with further expanding bilateral economic cooperation between the two countries, officials said on Thursday.
They said a high-powered Saudi delegation is scheduled to arrive next month to explore Riyadh's investment opportunities in Bangladesh.
During the visit, the delegation will hold meetings with senior government officials, relevant state agencies and trade body leaders to discuss their planned investment in Bangladesh.
"The team is expected to place multi billion dollars investment proposal during its visit to Bangladesh," a senior Bangladesh Investment Development Authority (BIDA) official told The New Nation yesterday, on condition of anonymity.
He said the oil rich Gulf nation is keen to invest commercially viable projects in Bangladesh focusing on fertilizer, cement and power plants and physical infrastructure.
The Prime Minister's Office earlier directed the BIDA to coordinate and monitor Saudi investment related issues.
BIDA in a recent letter, signed by its Director Ariful Huq, sought a list of proposed investment projects under all the Ministries so that Saudi investment can be channelised there. Â
The letter reads, "Prime Minister Sheikh Hasina had a fruitful discussion with the Saudi government about investing in various projects in Bangladesh during her four-day visit to Saudi Arabia in October 2018.
During the visit, Hasina called for more Saudi investment and to explore business opportunities in Bangladesh. She also offered a special economic zone out of 100 special economic zones to Saudi investors.
In continuation of this, Saudi Arabia's Ministers for Commerce and Investment and Economy and representatives of Saudi Arabia's Public Investment Fund (PIF) and the Saudi Fund for Development (SDF) will visit Bangladesh on 10-11 February.
The letter also reads, "There has been a preparatory meeting on January 9 where all government Ministries and agencies have been given guidelines over materializing Saudi investment in prospective sectors."
Officials said, Bangladesh has already selected a number of prospective sectors expecting a large volume of investment from the KSA.
The sectors are: petrochemicals, pharmaceuticals, services, telecommunications, ICT, power and energy, physical infrastructure, agro processing and shipbuilding.  Â
BIDA on Wednesday convened a meeting to discuss the possible areas of the KSA's investment in Bangladesh, with its Executive Chairman Kazi M Aminul Islam in the chair.
Concerned government officials attended the meeting with full list of proposed foreign aided projects under all Ministries.
"We have already identified prospective sectors expecting considerable amount of investment from Saudi Arabia. But, we will leave it to the delegation as per their investment preferences," BIDA Executive Chairman Kazi M Aminul Islam told The New Nation.
He said Riyadh is eager to set up a fertilizer factory, oil refinery and cement manufacturing plant as part of its planned investment in Bangladesh.
"We are hopeful of having a fruitful discussion with the high-powered Saudi delegation. During the discussion, the Saudi delegation will be informed about the recent economic development of Bangladesh looking at new areas of engagement covering trade and investment promotion."
When asked, Kazi M Aminul Islam said, "We are expecting big Saudi investment banking on expanded bilateral trade and investment cooperation between Riyadh and Dhaka.  A major breakthrough in this regard is expected to come following the visit of Saudi delegation."
 Earlier, the embassy of Saudi Arabia in Dhaka in a letter to the Ministry of Commerce said businessmen of the Kingdom were keen to expand investment in Bangladesh and requested the Ministry to inform it about the areas where Bangladesh expect investment.
Saudi Arabia also sought information on big infrastructure projects undertaken by the government of Bangladesh.
"All the information will be sent to Riyadh soon aiming at expanding new areas of economic cooperation," said BIDA Executive Chairman.
More than one and a half million Bangladeshi professionals and workers are living in the KSA, making it Bangladesh's single largest source of remittance earnings.
Bangladeshi expatriates living in the Kingdom sent US$2.59 billion remittance in the last fiscal (2017-18). The country's total remittance inflow hit US$14.97 billion during the period, according to Bangladesh Bank.
Though trade between the two nations has increased significantly in the recent years, still it remains modest level. Bangladesh exports to the KSA were around $350 million in the last fiscal, whereas Bangladesh's imports from the KSA stood at around $750 million during the period.
http://m.thedailynewnation.com/news/204002/saudis-plan-big-investment-in-bangladesh
Naf Tourism Park: A step in the right direction
Syed Tashfin Chowdhury | Published: January 21, 2019 22:07:44 | Updated: January 22, 2019 22:13:19
The tourism sector of the country was declared an industry in 1992. In recent years, many local and international think-tanks have called it a promising sector that has the potential to rake in millions of dollars every year.
Yet the sector has not taken off and some analysts have blamed the lack of infrastructure in the country for this. They pointed to the lack of communication and accommodation near popular and potential tourist spots. Due to these problems, the sector has not enjoyed substantial investment over the past few decades.
Against this backdrop, it is heartening to learn that significant progress is being made on a proposed tourism park project to be developed on Jaliardwip island in Naf River in Cox's Bazar. Following an agreement signed between Bangladesh Economic Zones Authority (BEZA) and Thai company Siam Siam International Group in September of last year, the first phase of the proposed Naf Tourism Park is expected to be complete by 2021.
The $500 million-park will be developed on 293 acres of land in Jaliardwip. Once all phases are complete, the park will have international standard hotels, a resort, entertainment park, golf club, shopping mall, cable cars, cinema hall, water sports beach and many other facilities.
The potential of this tourism park will be realised by anyone who has visited Genting Highlands in Malaysia or Sentosa Island in Singapore in recent times. The Genting Highlands Resort is an integrated hill resort in Malaysia that got started in 1965. In 2016, the hill resort received 20.2 million visitors from around the world. The profit of Genting Highlands was around US $ 700.2 million in 2016, which saw a 129 per cent growth over its 2015 annual profit of $ 306 million.
Malaysia's neighbour, Singapore has Sentosa Island which was opened in 1975. Constant improvements and additions to the park have turned it into one of the top tourist destinations in the world. The nearly five square kilometre island houses 14 hotels, Universal Studios Singapore, the Merlion, two golf courses, Fort Siloso (a World War II museum), a casino and numerous other attractions. The operating profit before working capital changes of Sentosa was $ 67.11 million in 2018, up from $ 41.75 million in 2017.
The Naf Tourisn Park is no doubt a step in the right direction. It is very likely to reinforce the tourism potential of Cox's Bazar as well. Once it becomes operational, chances are high that investors from both home and abroad may find similar ventures rewarding. The government, too, may seek foreign investment in similar tourism projects in other areas of the country like Bandarban, Kuakata, Sylhet, Rajshahi etc.
tashfinster@gmail.com
https://thefinancialexpress.com.bd/views/naf-tourism-park-a-step-in-the-right-direction-1548086864
FE Report | Published: January 25, 2019 12:19:25 | Updated: January 25, 2019 13:10:22
Japan has shown interest to sign free trade agreement (FTA) with Bangladesh, officials said on Thursday.
Japanese Ambassador to Bangladesh Hiroyasu Izumi expressed his interest when he met Finance Minister AHM Mustafa Kamal at the latter's secretariat office in Dhaka on Wednesday evening.
Japan International Cooperation Agency (JICA) Chief Representative in Bangladesh Hitoshi Hirata and high officials of the Japanese Embassy and JICA office in Dhaka were also present at the meeting.
During the meeting, Mr Kamal urged the delegates to boost Japanese investments in Bangladesh saying, "This is high time for any global investors to invest in Bangladesh."
The finance minister thanked Japan for extending its economic and financial cooperation especially in infrastructure development work.
The Japanese envoy assured the minister of helping Bangladesh reform the tax management system and develop solid waste management system, said a statement of the finance ministry on Thursday.
Mr Izumi also informed him that Japan is now providing some Yen 200 billion worth of loans for six projects including MRT-6 line construction work.
The loan package will be increased for Bangladesh's different projects in the future, he said, adding that Japanese people are very much friendly to Bangladesh as Tokyo is providing assistance from taxes the people are paying.
kabirhuamayan10@gmail.com
https://thefinancialexpress.com.bd/...-eager-to-sign-fta-with-bangladesh-1548400222
Saudis plan big investment in Bangladesh
*High-powered team arriving next month *Fertilizer, cement, power plants target
Friday, January 25, 2019
Kazi Zahidul Hasan :
The Kingdom of Saudi Arabia (KSA) is planning to make a big investment in Bangladesh along with further expanding bilateral economic cooperation between the two countries, officials said on Thursday.
They said a high-powered Saudi delegation is scheduled to arrive next month to explore Riyadh's investment opportunities in Bangladesh.
During the visit, the delegation will hold meetings with senior government officials, relevant state agencies and trade body leaders to discuss their planned investment in Bangladesh.
"The team is expected to place multi billion dollars investment proposal during its visit to Bangladesh," a senior Bangladesh Investment Development Authority (BIDA) official told The New Nation yesterday, on condition of anonymity.
He said the oil rich Gulf nation is keen to invest commercially viable projects in Bangladesh focusing on fertilizer, cement and power plants and physical infrastructure.
The Prime Minister's Office earlier directed the BIDA to coordinate and monitor Saudi investment related issues.
BIDA in a recent letter, signed by its Director Ariful Huq, sought a list of proposed investment projects under all the Ministries so that Saudi investment can be channelised there. Â
The letter reads, "Prime Minister Sheikh Hasina had a fruitful discussion with the Saudi government about investing in various projects in Bangladesh during her four-day visit to Saudi Arabia in October 2018.
During the visit, Hasina called for more Saudi investment and to explore business opportunities in Bangladesh. She also offered a special economic zone out of 100 special economic zones to Saudi investors.
In continuation of this, Saudi Arabia's Ministers for Commerce and Investment and Economy and representatives of Saudi Arabia's Public Investment Fund (PIF) and the Saudi Fund for Development (SDF) will visit Bangladesh on 10-11 February.
The letter also reads, "There has been a preparatory meeting on January 9 where all government Ministries and agencies have been given guidelines over materializing Saudi investment in prospective sectors."
Officials said, Bangladesh has already selected a number of prospective sectors expecting a large volume of investment from the KSA.
The sectors are: petrochemicals, pharmaceuticals, services, telecommunications, ICT, power and energy, physical infrastructure, agro processing and shipbuilding.  Â
BIDA on Wednesday convened a meeting to discuss the possible areas of the KSA's investment in Bangladesh, with its Executive Chairman Kazi M Aminul Islam in the chair.
Concerned government officials attended the meeting with full list of proposed foreign aided projects under all Ministries.
"We have already identified prospective sectors expecting considerable amount of investment from Saudi Arabia. But, we will leave it to the delegation as per their investment preferences," BIDA Executive Chairman Kazi M Aminul Islam told The New Nation.
He said Riyadh is eager to set up a fertilizer factory, oil refinery and cement manufacturing plant as part of its planned investment in Bangladesh.
"We are hopeful of having a fruitful discussion with the high-powered Saudi delegation. During the discussion, the Saudi delegation will be informed about the recent economic development of Bangladesh looking at new areas of engagement covering trade and investment promotion."
When asked, Kazi M Aminul Islam said, "We are expecting big Saudi investment banking on expanded bilateral trade and investment cooperation between Riyadh and Dhaka.  A major breakthrough in this regard is expected to come following the visit of Saudi delegation."
 Earlier, the embassy of Saudi Arabia in Dhaka in a letter to the Ministry of Commerce said businessmen of the Kingdom were keen to expand investment in Bangladesh and requested the Ministry to inform it about the areas where Bangladesh expect investment.
Saudi Arabia also sought information on big infrastructure projects undertaken by the government of Bangladesh.
"All the information will be sent to Riyadh soon aiming at expanding new areas of economic cooperation," said BIDA Executive Chairman.
More than one and a half million Bangladeshi professionals and workers are living in the KSA, making it Bangladesh's single largest source of remittance earnings.
Bangladeshi expatriates living in the Kingdom sent US$2.59 billion remittance in the last fiscal (2017-18). The country's total remittance inflow hit US$14.97 billion during the period, according to Bangladesh Bank.
Though trade between the two nations has increased significantly in the recent years, still it remains modest level. Bangladesh exports to the KSA were around $350 million in the last fiscal, whereas Bangladesh's imports from the KSA stood at around $750 million during the period.
http://m.thedailynewnation.com/news/204002/saudis-plan-big-investment-in-bangladesh
Naf Tourism Park: A step in the right direction
Syed Tashfin Chowdhury | Published: January 21, 2019 22:07:44 | Updated: January 22, 2019 22:13:19
The tourism sector of the country was declared an industry in 1992. In recent years, many local and international think-tanks have called it a promising sector that has the potential to rake in millions of dollars every year.
Yet the sector has not taken off and some analysts have blamed the lack of infrastructure in the country for this. They pointed to the lack of communication and accommodation near popular and potential tourist spots. Due to these problems, the sector has not enjoyed substantial investment over the past few decades.
Against this backdrop, it is heartening to learn that significant progress is being made on a proposed tourism park project to be developed on Jaliardwip island in Naf River in Cox's Bazar. Following an agreement signed between Bangladesh Economic Zones Authority (BEZA) and Thai company Siam Siam International Group in September of last year, the first phase of the proposed Naf Tourism Park is expected to be complete by 2021.
The $500 million-park will be developed on 293 acres of land in Jaliardwip. Once all phases are complete, the park will have international standard hotels, a resort, entertainment park, golf club, shopping mall, cable cars, cinema hall, water sports beach and many other facilities.
The potential of this tourism park will be realised by anyone who has visited Genting Highlands in Malaysia or Sentosa Island in Singapore in recent times. The Genting Highlands Resort is an integrated hill resort in Malaysia that got started in 1965. In 2016, the hill resort received 20.2 million visitors from around the world. The profit of Genting Highlands was around US $ 700.2 million in 2016, which saw a 129 per cent growth over its 2015 annual profit of $ 306 million.
Malaysia's neighbour, Singapore has Sentosa Island which was opened in 1975. Constant improvements and additions to the park have turned it into one of the top tourist destinations in the world. The nearly five square kilometre island houses 14 hotels, Universal Studios Singapore, the Merlion, two golf courses, Fort Siloso (a World War II museum), a casino and numerous other attractions. The operating profit before working capital changes of Sentosa was $ 67.11 million in 2018, up from $ 41.75 million in 2017.
The Naf Tourisn Park is no doubt a step in the right direction. It is very likely to reinforce the tourism potential of Cox's Bazar as well. Once it becomes operational, chances are high that investors from both home and abroad may find similar ventures rewarding. The government, too, may seek foreign investment in similar tourism projects in other areas of the country like Bandarban, Kuakata, Sylhet, Rajshahi etc.
tashfinster@gmail.com
https://thefinancialexpress.com.bd/views/naf-tourism-park-a-step-in-the-right-direction-1548086864
