Bangladesh Economy: News & Updates

[CaPtAiN_pLaNeT]

B'desh exports to up by $3b a year: Faruk

B'desh exports to up by $3b a year: Faruk
FE Report

Commerce minister Faruk Khan said Wednesday Bangladesh's exports to the European Union (EU) could go up by US$ 3.0 billion a year, thanks to the new trade preference scheme.

Bangladesh along with other poorer nations will enjoy new rules of origin for the EU's generalised system of preferences (GSP), which are relaxed and simplified.

The new rules, which come into effect from January 1, next year, will have single stage for apparels while 30 per cent value addition criteria for industrial products.

"The EU's policy support has opened up new opportunities for Bangladeshi exporters to bump up their exports by manifold," Mr Khan said.

His comments came at a seminar on EU-Bangladesh trade at a city hotel, with the EU delegation's political and trade head Andrew Barnard in the chair.

Last year, Bangladesh exported goods worth 5.8 billion euros to the EU market, making up as much as 50 per cent of the country's total shipment.

Besides new trade preferences, Mr Khan said that efficient and hardworking labour force, competitive wages and government support would help boost exports more to the 27 nation regional group.

Mr Khan said that Bangladeshis would overcome all challenges including its infrastructure shortages.

He struck an upbeat tone about Bangladesh's future and said there is a positive rating on Bangladesh in many countries across the world.

Referring to the Prime Minister's speech, he said there would be no severe power crisis in the country after 2012.

 

[CaPtAiN_pLaNeT]

self delete

 

[Skies]

^ Even PK's N-GDP is better than it was predicted. They have 177.901 billions (but it was predicted 161 billions ) for 2010. So why people say PK's economy is going is going bad? And if PK's economy is going bad even it's better than predicted, then how could we say our economy is doing so fine? Is it right?

 

[Skies]

New Market Research Report: Bangladesh Telecommunications Report Q1 2011New
New Market Research Report: Bangladesh Telecommunications Report Q1 2011

Fixed Networks market report from Business Monitor International: "Bangladesh Telecommunications Report Q1 2011"

PRLog (Press Release) – Dec 08, 2010 – Based on the latest figures released by the Bangladesh Telecommunication Regulatory Commission and mobile operators, BMI has made some revisions to our forecasts. We revised our 2010 mobile subscriber forecast upwards to 71.464mn with a penetration rate of 43.46%. We have also extended our forecast period to 2015 and we expect 194.990mn subscribers by 2015, representing a mobile penetration rate of 110.59%, surpassing the 100% for the first time. Meanwhile, the industry's average ARPU saw a slight upward revision due to Banglalink's increasing postpaid subscriber base but we continue to foresee a downtrend due to intense competition and aggressive pricing tactics from operators to gain market share. Lastly, we have retained our forecasts for Bangladesh's fixed-line and internet forecasts due to the lack of new information.

Plans to transform Bangladesh into a digital country by 2021 are gaining traction after the Bangladeshi government announced plans in September 2010 to implement seven projects at a cost of BDT64.34bn (US$923.75mn). The seven projects will focus on rolling out next-generation technologies such as broadband wireless and fibre optic cable networks in order to improve Bangladesh's inadequate broadband infrastructure. The key objective is to lower operating costs and provide affordable broadband services to the population through the unification and standardisation of the country's broadband networks.

Operators continued to increase the value-added services offerings to mitigate declining mobile revenues. Banglalink signed a memorandum of understanding (MoU) with the Agriculture Information Service and UNDP-supported Access to Information Programme in September 2010 to educate and create awareness among farmers through the use of telecoms and information technology tools. Under the MoU aimed to enhance technological support to Bangladesh's agricultural sector, Banglalink would deliver beneficial information to all the stakeholders. The operator also announced a partnership with mobile VAS developer Comviva in October 2010. Comviva will deliver mWallet services that will enable Banglalink to offer integrated financial payment services such as mobile transactions, international and domestic remittance, utility payments and mobile ticketing.

Bangladesh's Telecoms Rating fell to 46.5 from 47.6 in the previous quarter due to a decrease in the country's Industry Rewards score, which fell back to 50 from 52.5. There were no changes to the Bangladesh's Country Rewards, Industry Risks and Country Risk scores. Nevertheless, the country fell to 15th place from 13th place.

For more information or to purchase this report, go to:
- Fast Market Research ...

Report Table of Contents:

Executive Summary
SWOT Analysis
- Bangladesh Wireline Business Environment SWOT
- Bangladesh Mobile Business Environment SWOT
- Bangladesh Political SWOT
- Bangladesh Economic SWOT
- Bangladesh Business Environment SWOT
Business Environment
- Asia
- Table: Asia Telecoms Business Environment Rankings
- Bangladesh
Industry Forecasts
- Mobile
- Table: Telecoms Sector - Mobile - Historical Data & Forecasts, 2008-2015
- ARPU
- Table: Bangladesh Mobile ARPU - Historical Data and Forecasts, 2008-2015 (US$)
- Fixed Line
- Table: Telecoms Sector - Fixed Line - Historical Data & Forecasts, 2008-2015
- Internet
- Table: Telecoms Sector - Internet & Broadband - Historical Data & Forecasts (2007-2014)
Market Data Analysis
- Mobile Market
- Table: Bangladesh Wireless Market, June 2010
- Table: Bangladesh Wireless Market Net Additions, Q210
- Subscriber Mix & ARPU
- ARPU
- 3G
- Mobile Contract Wins
- Table: Mobile Contract Wins, 2008-2009
- Mobile Content
- Regional Outlook
- Country Outlook
- Mobile Operator Data
- Table: Bangladesh Mobile Market Overview
- Table: Citycell
- Table: Grameenphone
- Table: Banglalink
- Table: Robi (Axiata Bangladesh)
- Table: Tele Talk
- Table: Warid
- Fixed Line
- Table: Bangladesh Fixed-Line Market, May 2010
- Broadband
Regulatory Environment
- Industry Developments
- Regulatory Developments
Competitive Landscape
- Competitor Analysis
- Table: Key Players - Bangladesh Telecoms Sector
Company Monitor
- ZTE
- Table: ZTE: Research And Development Budget (CNYmn), 2005-2009
- Table: ZTE: Major Asia Contracts Award
Operator Profiles
- Grameenphone
- Robi (Axiata Bangladesh (AxB))
- Banglalink
- Citycell
- Bangladesh Telecommunications Company (BTCL)
Regional Telecommunications Penetration Overview
- Fixed Line
- Table: Regional Fixed-Line Penetration Overview
- Broadband
- Table: Regional Fixed-Line Penetration Overview
- Mobile
- Table: Regional Mobile Penetration Overview
Country Snapshot: Bangladesh Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education and Healthcare
- Table: Education, 2001-2003
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market and Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2010 (US$)
- Table: Average Annual Manufacturing Wages
Glossary Of Terms
- Table: Glossary Of Terms
BMI Methodology
- How We Generate Our Industry Forecasts
- Table: Key Indicators For Telecommunications Industry Forecasts
- Telecoms Business Environment Ratings
- Risk/Reward Ratings Methodology
- Ratings System
- Indicators
- Table: Ratings Indicators
- Weighting
- Table: Weighting Of Indicators
- Sources

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at Fast Market Research - Publishers - Business Monitor International

About Fast Market Research

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For more information about these or related research reports, please visit our website at Fast Market Research or call us at 1.800.844.8156.

# # #

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

 

[TopCat]

^ Even PK's N-GDP is better than it was predicted. They have 177.901 billions (but it was predicted 161 billions ) for 2010. So why people say PK's economy is going is going bad? And if PK's economy is going bad even it's better than predicted, then how could we say our economy is doing so fine? Is it right?

PK rebased its economy in 2005 while we did that 15 years ago in 1996. We will be doing it again in 2011 when 10 more sectors will be included in the calculation with existing 15 sectors. You will get a real picture of the size of BD economy next year hopefully.

 

[Bdeshexpat]

PK rebased its economy in 2005 while we did that 15 years ago in 1996. We will be doing it again in 2011 when 10 more sectors will be included in the calculation with existing 15 sectors. You will get a real picture of the size of BD economy next year hopefully.

Can you please explain what you mean by rebased? Are IMF and world bank numbers for Bangladesh GDP incorrect?

If GDP numbers are incorrect, what is you opinion on real GDP? I think there is a huge black market economy all IMF and world bank is not able to use for their calculations.

 

[Skies]

Aramex signs new acquisitions in Turkey, Malaysia and Bangladesh
By Shane McGinley
Thursday, 9 December 2010 12:10 PM

Aramex has embarked on a new phase of growth and expansion, according to Aramex founder and CEO Fadi Ghandour.

Logistics and transport giant Aramex has completed a number of new acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam, the Amman-based firm said in a statement on the Dubai Financial Market on Thursday.

The company has increased its shareholding to 100 percent of Aramex Turkey, which the company said “has performed strongly.”

Aramex also announced that has acquired a majority stake in Malaysia’s Avanti and has acquired a majority stake in Expo Express Services, the company’s subsidiary in Bangladesh.

Finally, Aramex signed a joint venture partnership in Vietnam with Masan Services, a wholly owned subsidiary of Masan Corporation. Masan Corporation is the majority shareholder of Masan Group which is one the largest listed private-sector companies in Vietnam. Aramex plans to start its operations in Vietnam next year.

“Aramex has embarked on a new phase of growth and expansion and this is just the beginning of the company’s investments in key emerging markets,” said Fadi Ghandour, Aramex founder and CEO.

“We hope to soon announce further investments in Africa and Asia, and continue to build up on this strategy well into 2012,” he added.

In October, Aramex announced that net profits for the first nine months of 2010 rose eleven percent to AED149.1m ($40.60m).

 

[CaPtAiN_pLaNeT]

FDI can boost drug industry: BAPI

FDI can boost drug industry: BAPI | Bangladesh | bdnews24.com

Sat, Dec 11th, 2010 7:50 pm BdST

Dial 2000 from your GP mobile for latest news
Dhaka, Dec 11 (bdnews24.com)—Drug exports can go up susbtantially if the country's pharmaceutical sector is allowed to invest overseas, according to the Bangladesh Association of Pharmaceuticals Industry (BAPI).

By investing in foreign countries the local companies will be able to start joint ventures, make acquisitions and even set up own subsidiary, allowing instant penetration in overseas markets, a BAPI-organised seminar was told.

"The country's pharmaceutical industry has the potential to be one of the largest export sectors of Bangladesh, if the barriers are removed", BAPI advisor Nazmul Hasan said in his welcome address at the seminar on Saturday titled 'Pharma Vision 2015'.

According to him, the drug producers of the country are facing problems regarding product registration and promotion in foreign markets.

"We are probably the only industry in this country, which is facing obstacles to export," said Hasan, the top official of Beximco Pharmaceuticals.

In the $808 billion global pharmaceutical market in 2009, Bangladesh could grab a slice of only $47 million.

However, the finance minister, who attended the seminar as the chief guest, was reluctant about the idea of allowing local investment abroad.

"In the context of our foreign transactions, capital export cannot be allowed," said AMA Muhith.

The restrictions, however, can be relaxed in specific cases, he added.

The seminar also stressed on the greater need for upgrading the drug regulatory body and the national control laboratory to international standards.

"The Directorate General of Drug Administration and the national control laboratory need to become WHO approved as well as the PIC/S," BAPI general secretary Abdul Muktadir said in a presentation on the overall scenario of the industry.

According to him, membership of the Pharmaceutical Inspection Cooperation Scheme, or PIC/S, allows entry to member country markets without registration of products.

"There are 370 approved positions in the DGDA, of which 240 are vacant."

The BAPI official also stressed the issue of allowing investing abroad.

BAPI president Salman F Rahman supported his position.

"In the 1980s, major policy changes boosted the RMG industry by allowing back-to-back LC and bonded warehouse facilities, the time has now come for another bold decision for the pharma industry," said the vice-chairman of Beximco Group.

According to him, Bangladesh has a tremendous potential to be a major producer of generic drugs. Currently, China and India are the major global suppliers for generic items.

"Now-a-days, China also has started to import generic drugs due to their growth, which leaves only India as our competitor," said Rahman.

Moreover, the developed countries are now showing interest to import generic drugs as medical cost has gone up in those countries, he added.

Citing the Indian example, Rahman said that the country had allowed pharmaceutical companies to invest abroad at a time when its foreign reserve was very low.

Responding to the concerns of the industry, the finance minister made it very clear that at this moment he was not willing to allow "capital export".

However, he said that he hoped that the issue could be resolved by discussion between the government and the industry.

Muhith emphasised on the issue of sub-standard drugs produced in the country.

"Quality control is crucial for drugs. Apart from a few companies, quality of drugs produced in the country is questionable."

He came up with the idea of mandatory membership of BAPI for all licensed drug producers.

"This way, the association can also contribute to quality control of the whole industry."

The finance minister assured of reorganising and strengthening the drug regulatory body.

The seminar also heard from prime minister's advisers Mashiur Rahman and Syed Modasser Ali, health minister A F M Ruhal Haque and industries minister Dilip Barua.

bdnews24.com/rhn/am/1930h

 

[akash57]

Indian IT firm Ramco enters Bangladesh market

Bangalore, Dec 13 (IANS) Leading software consulting and product firm Ramco Systems Monday announced its entry into the growing Bangladesh market to hard-sell its suite of enterprise resources planning (ERP).

The Chennai-based firm has tied up its partnership with Dhaka-based Computer Source Ltd to market its offerings in the neighbouring country.

'We have been keen to enter an underserved market like Bangladesh, which is on the threshold of growth phase. We believe our suite of offerings will help us gain a strong foothold in the new market,' Ramco vice-president R. Shankar said in a statement here.

As part of the package, the company will offer all the tools such as hardware, software, operating system, middleware and database to run the ERP application.

'Bangladesh is an emerging market with a large IT resource pool. Its government policies are conducive for companies to collaborate with Indian IT firms and offer IT products and services in the local market,' Shankar said.

Lauding Ramco for foraying into the country, India-Bangladesh Chamber of Commerce and Industry president Abdul Matlub Ahmad asserted that his country had been witnessing rapid growth in industries and trade.

'As technology adoption is essential to support the growing business environment, ERP applications boost performance and help industries compete better in the global market,' Ahmad noted.

As part of the $875-million Ramco group, the flagship company provides innovative business solutions to customers worldwide, with offices in the US, Europe, Gulf, and the Asia-Pacific region.

'Our key differentiator is the innovative approach to develop products through revolutionary enterprise application assembly and delivery platform,' Shankar added.

Indian IT firm Ramco enters Bangladesh market

 

[akash57]

Director General of Dubai Customs receives Consul General of Bangladesh

His Excellency H.E. Ahmed Butti Ahmed, Executive Chairman of Ports, Customs and Free Zone Corporation and Dubai Customs Director General received last Thursday H.E. Consul General of Bangladesh in Dubai Mohammed Abu Zafar , and the economic consultant in the consulate Mr. Mohammed Mahmoud Al-Haq. The two sides discussed means of shared cooperation and boosting economic relations between Dubai and Bangladesh.

H.E. Consul General of Bangladesh reaffirmed the importance of business activity between his country and Dubai, especially with the continuous growth of export and import transactions carried out in the last three years. Trade exchange between Bangladesh and Dubai mounted to Dhs416m during the last nine months this year, which is a 2% increase compared to same period last year which scored Dhs410m.

Abu Zafar said that many Bangladeshis businessmen, residing in the UAE, are highly interested in expanding their business activities and transactions in the emirate, especially in the export and import field.

For his part, HE Ahmed Butti Ahmed expressed Dubai Customs' interest in meeting with a group of Bangladeshis businessmen to discuss means of cooperation, as well as facilitations, services and privileges which Dubai Customs can provide to them.

HE added that Dubai Customs is always keen to meet the needs and aspirations of its clients saying that businessmen and investors contribute to a great deal in enhancing growing economic businesses in the emirate. At the same time, HE affirmed the importance of abiding by international standards and criteria implemented at the department.

HE Director General of Dubai Customs expressed pleasure in cooperation with Bangladesh and called for fostering the ties between customs departments in both sides, and for more exchange of information and experience that can contribute in developing customs work and serve the general interests of the two sides.

Dubai imports from Bangladesh mounted to Dhs191m with the end of the third quarter of this year; an increase of 10% compared to imports of the same period last year. Dubai exports to Bangladesh reached Dhs110m during the last nine months; an increase of 26% compared to same period last year where Dubai exported goods worth of Dhs87m. Re-export activities, during the last nine months, generated Dhs115m for the same period with a drop of 23% compared to last year that scored Dhs149m. That is mainly because many re-exported goods to Bangladesh have been replaced by local products.

Director General of Dubai Customs receives Consul General of Bangladesh | Dubai Customs | AMEinfo.com

 

[BritishBangladeshi]

Bapex scopes out oil, gas in Pabna

Bangladesh Petroleum Exploration & Production Company (Bapex) will drill an exploration well in Mubarakpur in the district to detect oil and gas reserves there.

Experts expect 170 billion CFT gas reserve on the site. The works of the project site started this week after issuing the work order for land development for the site, Bapex officials said.

Meanwhile, an international bidding for the drilling machinery of the project is under process, they added.

The drilling of the exploration well will begin within March or April next after completing the land development works.

Earlier the government approved a fund of Tk 89.26 crore for the project -- Tk 61.84 crore of which will come as foreign fund under Mubarakpur Oil/Gas Exploration Well Drilling Project, the Bapex officials said.

They said Bapex has issued the work order to the contractors for the land works at the camp and project site at a cost of Tk 2.5 crore and the site was handed to the contractors last week.

“The work order has been issued for the drilling site development, camp site development and approach road construction,” said Md Ataur Rahman, deputy general manager of Bapex and project director (PD) of the exploration well drilling project.

“We have already called an international tender for buying the laboratory equipment of the project. Also the delivery of Tk 13 crore drilling machinery is under process.” the PD said.

“We may start drilling within March or April,” Rahman said.

After drilling the well, which will be 4,500 metre-deep on the project site, it will be easier for examining the total area of natural gas and oil, the officials said.

Earlier the government acquired 8.8 acres of land at Paglachandipur and Bishnapur of Santhia in Pabna, primarily for conducting a study for drilling the exploration well. The Pabna district administration gave the charge of the lands to Bapex in July.

Bapex started to work on the Mubarakpur site in 2006. After getting a satisfactory result in a seismic survey in 2006, it made a project of Tk 56.04 crore for conducting the exploration study, but the project was reviewed again to Tk 89.26 crore.

The Executive Committee of National Economic Council (Ecnec) approved the project in March last year.


source:Bapex scopes out oil, gas in Pabna

 

[BritishBangladeshi]

Brighter prospect for shipbuilding: UK Naval Architect

DHAKA, Dec 10 (BSS) -) The country's growing shipbuilding industry will grab a sizable number of global market share in the coming days due to its cheaper labour cost and energetic manpower, says Trevor Blakeley, Chief Executive Officer of the Royal Institution of Naval Architects (RINA today.

Appreciating Bangladesh's shipbuilding facilities RINA, a top platform of naval architects in the United Kingdom, executive also observed that Bangladesh has performed well in the global maritime industry in the last few years at a time when many developed and developing countries could not do so during the global financial recession.

He was talking to journalists after he visited Ananda Shipyard and Slipways Ltd (ASSL), one of the leading shipbuilders of the country, at Meghnaghat under Sonargaon upazila of Narayanganj district.

Trevor went round different units of the shipyard and appreciated shipbuilding facilities. Apart from Trevor Blakeley, three other international naval experts were also present during the visit. They are Prof Piri Reis University of Turkey, Associate Prof Motohiko Murai of division of Artificial Environment and Information of Yokohama National University of Japan and Prof Dr S Surrendran of Department of Ocean Engineering of India.

CEO of ASSL Commodore (rtd) SM Monir briefed the expert team
highlighting different shipbuilding facilities of the shipyard.

Prof Refayet Ullah of Bangladesh University of Engineering
and Technology, ASSL Chairman Dr Abdullahel Bari, managing
director Afruja Bari, Deputy Managing Director Abdullah Nahid
Nigar and Executive Director M Tariqul Islam were present, among
others.

While briefing the expert team, SM Monir said the ASSL has
so far exported eight vessels (2900 deadweight tonnage each) to
Denmark, Mozambique and Maldives and 10 ships ranging from 5500
to 6100 dwt are being built and two more (7250dwt each) would be
started to be built soon.

The expert team made the visit at the shipyard on the eve of
the two day international conference on Marine Technology
(MARTEC-2010) that begins tomorrow in the BUET conference rooms.

The RINA and department of Naval Architecture and Marine
Engineering of the BUET are jointly organizing the conference.
Such kind of high profile conference is going to be held for the
first time in Bangladesh. Apart from host Bangladesh, more than
200 experts from UK, Korea, Turkey, India, Japan, Singapore and
Malaysian are expected to take part in the international
conference, organizers said. A total of 28 stalls will also be
set up on the occasion. Bangladesh's leading shipbuilders
including Ananda, Western Marine will display marine technology
products in the stalls, said the organizers.

source:Bangladesh Sangbad Sangstha (BSS)

 

[BritishBangladeshi]

CEPZ exports goods worth $604m

CEPZ exports goods worth $604m
Our Correspondent

CHITTAGONG, Dec 14: The CEPZ authority said it has exported goods worth US $604 million in the last five months of the current fiscal until November 2010 against the export target of US$ 1450 million in the fiscal 2010-2011.

In the last fiscal year the factories in the Chittagong Export Processing Zone (CEPZ) exported goods worth US$ 1334 million.

CEPZ exports goods worth $604m

 

[BritishBangladeshi]

World-standard insulin to be made in Bangladesh

t was two hours before midnight. An aged woman, arms clasped and covered by a chador against cold, slowly entered a thinly crowded drug store. She gripped a vial as she approached the salesperson.

The store assistant appeared to be familiar with the woman, who handed a vial and syringe, and asked him to push inject her right arm. It is filled with insulin, named Mixtard 30, made by Novo Nordisk.

To date, this insulin brand, Mixtard, comes from Denmark, the base of Novo Nordisk, the global leader in diabetes care. But within a year, no import of such insulin from the Scandinavian country will be required.

The drug will be made at Tongi near Dhaka thanks to a tie-up between the world's biggest insulin maker Novo Nordisk and Eskayef Bangladesh Ltd, a leading local pharmaceutical company.

The partnership deal, signed in 2009, has facilitated establishment of a hi-tech plant to make these sophisticated biotechnological products here.

The Nordisk-Eskayef plant opens today to manufacture over 5 million vials a year, maintaining the high quality standards followed by Novo Nordisk across the world.

"We've one global standard. So everywhere you will have insulin of exactly the same standard," said Lise Kingo, executive vice president and chief of staff of Novo Nordisk.

Kingo shared his view in an interview with The Daily Star at Dhaka Sheraton Hotel yesterday.

Senior Vice President of International Operations Jesper Hoiland, Vice President for Oceania and South East Asia Sanjeev Shishoo and Bangladesh Diabetic Association President Prof AK Azad Khan were also present.

Novo Nordisk officials are in Dhaka to attend the inauguration of the insulin making plant.

They expressed confidence that Eskayef backed by a leading business conglomerate, Transcom Group, would be able to make quality insulin here as per the global standard.

"We're very pleased that we've partnered with Eskayef. Transcom is behind it. It's (Trancom) a very professionally run company that is working in many different areas and we feel very comfortable that we've found the right partner for this collaboration," Jesper Hoiland said.

"And we've so far done very fine and lived up to our expectation," he added.

The groundwork for the tie-up began four years ago. Novo Nordisk and Eskayef inked the deal in November of 2009, after global diabetic care giant became confident that the Bangladeshi company would be able to make quality insulin by following the single global standard of Novo Nordisk.

The plant, one of the three in Asia after China and India, is going to be opened at a time when nearly 6 million Bangla-deshis suffer from diabetes. The number is expected to cross 10 million in the next 20 years due to changes in lifestyle, rapid urbanisation, lack of work and obesity and ageing of people.

At present, some 20 percent of the diabetic patients get care through the network of the diabetic association, with which Novo Nordisk also partners in educating health care professionals and creating public awareness about the disease.

Such partnership has not only helped create awareness and educate healthcare professionals but also allowed Novo Nordisk to record high demand for its products.

The company enjoys more than 80 percent share in the insulin segment of diabetic care market in Bangladesh.

Kingo said the plant in Bangladesh will increase the availability of its products on the local market.

Besides, the plant will also help leverage the expertise of local population, transfer technology and benefit society.

Shishoo said the establishment of the manufacturing base in partnership with Eskayef shows Novo Nordisk's confidence in Bangladesh.

"It's a tremendous sign of confidence. We're very selective about the countries where we start production," he said.

"It's not a normal 24-hour routine, but it's also a confidence in our partners like Eskayef that we can set up a world-class plant which can deliver the insulin of the highest quality."

Jesper Hoiland said the factory in Dhaka would also have an impact on the work force.

"It will have impact on society," he said, pointing out that Bangladesh is one of the countries that handle well the issues of diabetes caring.

"I'm always using Bangladesh as a role model because you've really done a world class job of looking after patients with diabetes," said Hoiland, pointing to the network and care solutions provided by Bangladesh Diabetic Association.

Kingo said he admired Bangladesh's effort for diabetes care and said Novo Nordisk has been working for many years educating doctors and nurses how to treat people with diabetes.

The 87-year-old Novo Nordisk, which has been operating in Bangladesh since 1972, also supports BADAS to provide care to underprivileged children with diabetes.

 

[monitor]

The Padma Bridge

There is widespread enthusiasm among the people about the construction of the Padma Brdige and the government is continuing its effort to construct it as early as possible. Prime Minister Sheikh Hasina during her visit to Tokyo on Sunday sought increased Japanese assistance for the socio-economic uplift of Bangladesh especially for construction of Padma Bridge and JICA has agreed to give $150 million more for the purpose. Earlier, World Bank, which is one of the major development partners in financing the Padma Multipurpose Bridge, is confident about timely completion of the bridge project. The Bank, in a statement, said on November 25 that the preparation for the bridge is moving ahead in full swing and the government along with the four development partners is working closely to complete the construction in time.
Meanwhile, Asian Development Bank (ADB) on November 26 estimated that the GDP growth of Bangladesh will increase by 1.2 per cent with the construction of the Padma Bridge. It also estimated that the regional growth rate in the southwest region of the country will increase by 3.5 per cent due to the same reason. ADB Board of Directors on November 26 approved its US$ 615 million loan for construction of the multipurpose bridge across the Padma River. This bridge is the first fixed river crossing for road traffic, linking the southwest of the country with the northern and eastern regions. ADB will be the first donor agency or country to release fund for the Padma Bridge. Besides, the World Bank, Japan International Cooperation Agency (JICA) and Islamic Development Bank are also financing the project.
Earlier, World Bank President Robert Zoellick on November 23 assured Prime Minister Sheikh Hasina that funds pledged by the global lender for constructing the Padma Bridge in Bangladesh would be released on time. The assurance came when the World Bank chief called on the Prime Minister in St Petersburg. Thanking the WB president, Prime Minister Hasina told him that construction of the Padma Bridge will have to start soon, saying it was her party's electoral commitment. The World Bank has pledged to provide $1.5 billion out of the total project cost of $3.9 billion for the Padma Multipurpose Bridge.
Bangladesh is set to build the much-talked-about Padma Bridge in a bid to spur economic growth in its impoverished southwest. The Construction of what will be the longest bridge in Bangladesh is scheduled to begin this year and expected to be completed within the tenure of the present government. The bridge is a prestigious project for the nation. The bridge over the Padma would be Bangladesh's costliest infrastructure project to date and would facilitate economic growth in the south and southwestern regions.
A World Bank study has said that the bridge, which will connect the capital Dhaka with the country's coastal districts, will boost growth because it will improve transport links in the poverty-hit south and southwestern region. Earlier, Bangladesh has already constructed a 4.8-kilometre bridge over the river Jamuna at the cost of nearly one billion dollars, connected the capital with northwestern districts in 1998 and fuelled economic growth in the entire region, which is regularly afflicted by famines and floods.
The proposed Padma Bridge is important for the nation not for its size and huge construction cost only, but mainly for its possible economic significance. It goes without saying that all regions of the country have not been developed and industrialized equally during the Pakistan period and also after the liberation of Bangladesh. Industries grew mainly in the Dhaka and Chittagong regions and both northern and southern regions were neglected. These regions lagged behind also in the fields of communications.
After the construction of Bangabandhu Jamuna Bridge the deprivation of northern region has started to be redressed and it is hoped that the southern region will enter into a new era of development and industrialsation after the construction of the Padma Bridge. It will contribute to boosting the economy of the country as it will help connect the country's two sea ports Chittagong and Mongla. Besides, the bridge, when commissioned, will ease the longstanding communication problems facing the people of southern and southwestern regions of the country. In view of these, the Padma Bridge, when completed, will be a great achievement of Bangladesh. In these circumstances, every Bangladeshi would expect the construction of the Padma Bridge as early as possible.