Bangladesh Economy: News & Updates

[integra]

Canadian company invests $6.08m in Chittagong EPZ
Canadian company invests $6.08m in Chittagong EPZ
STAFF REPORTER

Dhaka Mar 21: Industrial Hand Protection Limited, a Canadian company, will set up a textile and garment industries in the Chittagong export processing zone. This fully foreign owned company will invest 6.08 million US Dollar in setting up their unit and. will manufacture Industrial safety products including yarn, fabric and garments item.

The company will also create employment opportunity for 402 Bangladeshi nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and industrial hand protection limited in BEPZA Complex, Dhaka on Monday. Md. Moyjuddin Ahmed, Member (Investment Promotion) of BEPZA and Hussain Kassam, Managing Director of Mis. Industrial Hand Protection Limited signed the agreement on behalf of their respective organizations.

Major General A T M Shahidullslam, ndu, psc, executive chairman, Abu Reza Khan, member (Engineering), A.K.M Mahbubur Rahman, member (Finance), Md. Shawkat Nabi. Secretary, A.Z.M. Azizur Rahman, general manager (Investment Promotion) and other officials of BEPZA were present at the signing ceremony.

 

[ProsperBD]

Assured destination for investment

Published: Mar 26, 2011 01:08 Updated: Mar 26, 2011 01:46

BANGLADESH is a vibrant economy that has, despite the recent global economic meltdown, maintained a consistent growth rate of around 6 percent. With a population of close to 150 million people, Bangladesh boasts of an efficient and entrepreneur work force that is changing the profile of the economy.

Bangladesh’s seaports, historically, had been “ports of call” for ancient traders, and a hub of economic activity connecting the West and the Far East. Today we are witnessing Bangladesh’s resurgence as a regional hub. Bangladesh occupies a strategic location as a bridge between South and South-East Asia and beyond.

Despite the recent global economic crisis, Bangladesh’s undisturbed and consistent growth over the past decade has proven the resilience of its economy. Its favorable investment climate has been lauded by many around the world. Bangladesh is listed in Goldman Sachs’ “Next II” and JP Morgan’s “Frontier Five.” Standard and Poor as well as Moody’s have placed Bangladesh ahead of all countries in South Asia except India.

Bangladesh offers a well-educated, highly adaptive and industrious work force with the lowest wages and salaries in the region. Over 57 percent of the population is under 25, providing a youthful group for recruitment. The country has consistently developed a skilled work force aiming to cater to the need of investors. English is widely spoken, making communication easy. Thousands of Bangladesh nationals who have wide work experience abroad add to the national reservoir of skill.

It offers a strong local market and growth. Bangladesh has proved to be an attractive investment location with its 150 million population and consistent economic growth leading to strong and growing domestic demand. Its policy is to establish a strong regional connectivity among its immediate neighbors. Already, agreement on connectivity has been reached between Bangladesh, India, Nepal and Bhutan, which opens the great opportunities in the huge next-door markets. Its close proximity to China and India also opens doors to a vast market projected to grow to 3 billion by 2050.

The cost of energy and land in the country is low. Energy prices in Bangladesh are the most competitive in the region. Transportation using green compressed natural gas is less than 20 percent of the price of diesel. Many multinational companies have already invested in gas exploration in Bangladesh. The cost of land is also the lowest in the region.

Bangladesh offers proven export competitiveness. It enjoys quota and tariff-free access to the European Union, Canada, Australia and Japan. It enjoys GSP facilities as an LDC country for export to the United States. The country’s annual export growth has been recorded recently as 19.6 percent, which is testimony to its export competitiveness.

Bangladesh offers the most liberal FDI regime in fiscal and non-fiscal incentives in South Asia, allowing 100 percent foreign equity with an unrestricted exit policy, remittance of royalty and repatriation of profits and income.

Bangladesh offers export-oriented industrial enclaves with infrastructural facilities and logistical support for foreign investors. The country is also developing its core infrastructures, including roads, highways, surface transport and port facilities for a better business environment. A billion dollar credit has been inked with India recently for infrastructure development, including communication and transport sectors and facilities at seaports.

Bangladesh has been praised for its positive climate. It has a largely homogenous society with people living in harmony irrespective of race and religion. Bangladesh, a democratic country enjoying broad bi-partisan political support for private investment, now boasts of political stability and containment of extremism. It offers 100 percent foreign equity or ownership in industrial investment. Foreign exchange regulations have been relaxed to the maximum limit and its currency Taka has been made convertible. Repatriation of foreign capital along with profit/dividends has been made easy and simplified. There is no restriction on issuing work permits to a foreign national. The local Board of Investment offers a one-stop service for investors.

In addition, all major organizations dealing with investment have been kept under direct supervision of the prime minister in order to ensure timely services, easy process and a one-stop service for investment and to address directly any problems therein.

An Act of Parliament passed in 1980 guarantees legal protection against nationalization and expropriation. Noncommercial risks of investment are also covered by the Multilateral Investment Guarantee Agency.

Bangladesh is also a party to the Overseas Private Investment Corporation, US; International Center for Settlement of Investment Disputes (ICSID); World Intellectual Property Organization (WIPO). Agreements on Avoidance of Double Taxation have been signed with 28 countries including Japan, UK, Italy, Canada, Sweden, Malaysia, Singapore, Saudi Arabia and the Republic of Korea. Nine more such agreements are being negotiated.

Furthermore, Bangladesh offers some competitive investment incentives:

— Corporate tax holiday (Outside EPZs): five to seven years for selected sectors;

— Accelerated depreciation on cost of machinery for new industry in lieu of tax holiday;

— Reduced corporate tax for five to seven years in lieu of tax holidays and accelerated depreciation;

— Tariff concessions on import of capital machinery, tariff concessions on import of raw materials of the export-oriented industries, bonded warehousing facilities, among others;

— Cash incentives and export subsidies ranging from 5 percent to 20 percent on the FOB value of selected products;

— Funds for exports promotion, exports credit guarantee scheme, permission for domestic sales up to 20 percent by export-oriented companies outside EPZ;

— Remittance of royalty, technical know-how and technical assistance fees;

— Citizenship by investing a minimum of $5 million and permanent resident permits on investing $75,000.



The special incentives offered to business located in eight EPZs include:

— 10 years tax holiday;

— Concessionary tax for five years, after 10 years;

— Duty and tax-free exports from the EPZ;

— Readymade factory buildings;

— Excellent infrastructure logistics;

— Duty free import of machinery, raw and construction materials;

— Business and administrative support services;



It offers also special incentives for investment in the power sector. The power sector is at the forefront of all infrastructure projects. Special incentives in this sector include 15 years tax holiday; exemption of import duties, value added tax (VAT), surcharges and import permit fees on imports of plants, equipments and spare parts up to 10 percent of the original value of the plant and equipment within a period of 12 years of commercial operation. Incentives also include exemption of tax on foreign lending, foreign loan interest, royalties, technical know-how and assistance fees, free repatriation of equity and dividends, and so forth.

Assured destination for investment - Arab News

 

[ProsperBD]

$14 billion export earning in 8 months: minister

Tue, Mar 29th, 2011 8:24 pm BdST

Dhaka, Mar 29 (bdnews24.com) — Despite the Arab unrest, Bangladesh has earned $14 billion from exports in eight months of the current fiscal year, the commerce minister has said.

"We have exported more than the target," Faruk Khan said at the inaugural ceremony of the Brand Furniture Fair-2011 at Bangabandhu International Conference Centre on Tuesday.

Hoping that exports would increase in the next fiscal, the minister said," Pay the workers legal wages. Thus the workmanship will be excellent and the sector will also be beneficiary."

Bangladesh Furniture Exporters Association organised the six-day fair, attended by 10 manufacturing firms. The fair will be open for all from 10am to 9pm.

Convenor of Bangladesh Exporters' Association K M Aktaruzzaman presided over the programme, where FBCCI vice-president Jasim Uddin also spoke among others.

bdnews24.com/si/mus/rrd/pks/1804h.

 

[CaPtAiN_pLaNeT]

Investment proposals rise
Posted on April 1, 2011

Investment proposals rise

Investment proposals rise

In a healthy growth in terms of money, investment proposals worth Tk 10,848 crore were registered with the Board of Investment (BoI) in February this year, mostly in the power, textile and agro-processing sectors, reports UNB.

During the month, BoI registered some 152 investment proposals including 131 from local entrepreneurs and 21 from foreign and joint venture companies.

Of the total amount, the local entrepreneurs made investment proposals worth Tk 8,835 crore while the foreign and joint venture companies Tk 6,013 crore.

In January this year, BoI registered investment proposals worth Tk 3,587 crore from some 181 local, foreign and joint venture companies, compared to Tk 3,258 crore against investment proposals made by 158 companies in December last year.

According to sector-wise breakup, in the textile sector, BoI registered some 54 proposals from local entrepreneurs worth Tk 3,390 crore in February this year as against Tk 670 crore in January against 65 projects.

In the agriculture sector, investment proposals worth Tk 732 crore were registered with the BoI against 16 projects in February while of Tk 779 crore in January against 22 proposals.

Besides, Tk 86 crore investment proposals were registered against four projects in food and allied sector, Tk 5.38 crore against one project in leather sector, Tk 305 crore against 18 projects in chemical sector, Tk 130 crore against 23 projects in engineering sector and Tk 183 crore against 14 projects in the services sector.

In terms of money, invest proposals by the local, foreign and joint venture companies shot up by 188 per cent in 2010 compared to 2009.

In 2010, some 1,785 companies registered investment proposals with the BoI amounting to Tk 65,834.37 crore, which was Tk 22,821.77 crore in 2009.

The number of local, joint venture and foreign companies who proposed to invest in Bangladesh also rose last year to 1,785 as against 1,524 a year ago.

During the last year, the highest 30.8 per cent of the investment proposals was made for the services sector, 30 per cent for textile, 18.8 per cent for chemicals, 7.8 per cent for engineering, 6.6 per cent for agriculture and 4.4 per cent for food and allied sector.

 

[Skies]

Bangladesh to import gas from Myanmar, Malaysia

Kolkata, April 6 (IANS) Bangladesh is planning to import natural gas from Myanmar, Malaysia and Indonesia as new scientific calculations have shown that the country has limited gas reserve, a top diplomat of the country said Wednesday.

‘New scientific calculations have shown that there is limited gas reserve. We are planning to import gas from Malaysia and Indonesia. We are in talks with the Myanmarese government for importing gas,’ Bangladesh Deputy High Commissioner in Kolkata Mustafizur Rahman said in an interactive session organised by the Bengal National Chamber of Commerce and Industry (BNCCI).

Asked whether Bangladesh was willing to export its natural gas to India, he said: ‘If the reserve of gas is sufficient, then we can think about exporting gas.’

Rahman said Bangladesh was looking forward to full implementation of South Asian Free Trade Area (SAFTA) agreement to correct trade imbalance with India.

‘When SAFTA will be implemented fully, then exportable items from Bangladesh to India will be increased. We expect India to be more generous in expanding trade relation with us,’ he said.

During 2009-10, Bangladesh’s exports to India were $276.58 million and imports from India were $3,202.1 million.

‘Indian entrepreneurs can invest in Bangladesh in sectors like textile, ready-made garments, power generation and civil aviation,’ he said.

Bangladesh to import gas from Myanmar, Malaysia

 

[eastwatch]

Last 9 months

Thursday, 07 April 2011 Author / Source : Mashiur Rahaman

DHAKA, APR 6: Bangladeshi exporters, lead by readymade garments makers, have earned US$16.207 billion at the end of the first nine months of 2010-11 fiscal year.

Accelerated by the growing demand of Bangladeshi manufactured goods in across the globe, the first nine-month’s earning has already exceeded the full year’s record of FY 2009-10, state compiled export data revealed.

Against $16.204 billion export earning recorded in FY 2009-10, the nine-month’s earning was about $3.0 million higher and a net 21 per cent growth against its target of $13.4 billion set for the July-March period of FY 2010-11, data compiled by the state-run Export Promotion Bureau (EPB) revealed.

The latest updated data also revealed that the earning of July-March period was 40.31 per cent higher against the earning of the corresponding period of FY 2009-10.

The month of March alone recorded export earnings of $2.1 billion, a growth of 41 per cent against March 2010. The month’s export target was $1.6 billion, the data showed.

“The month of March’s export is a record itself,” well placed EPB official said explaining that the country’s monthly international trade earning has crossed $2 billion mark for the first time in history.

Along with the rapid growth in readymade garments industry, the EPB official responsible for export data compilation also attributed the historic achievement to the export growth in jute and jute goods and frozen foods industries.

“At the end of the current fiscal year, we are looking forward to reach the desired mark of $22 billion export earning,” he added.

Leading the country’s export, the knitwear garments export sector earned $6.5 billion during the period — which was 44 per cent higher than the $4.6 billion earned during the corresponding period of the previous fiscal year.

Earnings from knitwear exports during this period were 28 per cent higher than the target of $5.2 billion and have exceeded the last year’s total earning.

Woven garment exports also enjoyed significant growth during the July-March period, reaching a 37 per cent increase with earnings of $6.0 billion.

Earnings from woven products were 24.7 per cent higher than the period’s target of $4.8 billion, EPB data released. Jute and frozen food have also enjoyed impressive growth and are the nation’s third and fourth highest growing export items.

According to the latest EPB data, jute and jute goods earned $837 million from exports during July-March period.

The leading agro-product has become the country’s top-third export item, fuelled by surging demand of natural fibre across the world. Jute and jute goods at the end of first nine months of the fiscal year grew by 46 per cent from the corresponding period of FY 2009-10.

Taking advantage of restriction withdrawal from Europe, the country’s frozen food exporters recorded a robust growth, earned $471 million during the period of current fiscal year. It was 57 per cent up than the corresponding period of FY 2009-10, according to EPB data.

Export of raw leather, which was on down trend in the recession-hit global market, also posted the growth of 37 per cent, and earned $210 million. EPB Vice Chairman Jalal Ahmed attributed the growth to the recovering global economy.

 

[eastwatch]

New Age | Newspaper

Export earnings cross $16 billion in nine months
Special Correspondent

Exports grew by 40.31 percent in nine months of the current fiscal year, compared to the same period a year ago, the commerce ministry said on Wednesday.

A report of the Export Promotion Bureau shows the country exported goods worth $16,207 million during July-March of the current 2010-11 fiscal, up from $11,551 million in the same period of 2009-10.

The government data shows that in March alone, exports grew by 40.56 percent, compared to the same month of the previous year, to $2.14 billion.

Shipment of major items including knitwear, woven or cut and sew garments, jute and jute goods, home textiles, frozen food, shrimp and leather goods increased significantly during the July-March period.

The knitwear sector earned $6.6 billion, which is a 44.36 percent rise from the same period in the previous year while woven garment exports grew to $6 billion, up 37.76 percent compared to the same period last year.

‘As unit price of apparels and textiles remain high due to costlier yarns and fabrics, export earnings for apparels and textiles kept increasing in recent months, compared to that of the corresponding period of last year,’ said Faruque Hassan, vice president of the Bangladesh Garment Manufacturers and Exporters Association.

Readymade garments consist 80 percent of the entire export earnings while home textiles and other non-apparel textile products earned around 6 percent.

‘Export orders from foreign buyers still remain high to but due to infrastructure problem and shortage of skilled workers further growth potential will remain uncultivated,’ he said.

Jute and jute goods export rose to $837 million in July-March 2010-11, growing 44 percent year-on-year, home textile exports rose to $555 million, growing 98 percent, frozen foods to $471 million, up 57 percent and footwear export grew by 50 percent to $222 million.

Despite most major items showed significant rise in shipments, some items suffered negative growths in exports. Among such significant export items, export earning from terry towels declined by 7.39 percent to $94 million, bicycle 10.23 percent to $72 million and tea 56 percent to $2.31 million.

EPB had set an export target to earn $18.5 billion for the current fiscal year, which is 14.16 percent more than the actual earnings last year. But export sector insiders predict that earnings would be around $22 billion by the end of this fiscal.

During 2009-10, the total export earnings were $16.2 billion against a target of $17.6 billion but real earnings was 4.11 percent higher than the earnings of 2008-2009 fiscal year.

 

[eastwatch]

Country's rating outlook stable: Moody's report

FE Report

Global credit rating agency Moody's Investors Service Monday rated Bangladesh's outlook as stable for the second consecutive year despite pressure on the country's overall balance of payments (BoP).

"Tax reforms and infrastructure enhancement efforts are supporting Bangladesh's Ba3 rating," the Moody's said, adding that the rating outlook is stable.

Moody's rating has put Bangladesh at par with the Philippines. In the South Asian context, Bangladesh's position is three-step higher than Pakistan and one-step ahead of Sri Lanka, but below India.

"It's a big achievement for Bangladesh. It will boost foreign investors' confidence further to invest in Bangladesh," Bangladesh Bank (BB) Deputy Governor Ziaul Hasan Siddiqui told reporters at a press conference Monday at the conference room of the central bank.

Such rating put Bangladesh on a comfortable position, he said, adding that it will also facilitate the country's foreign trade.

Sovereign credit rating is a strong tool for positioning Bangladesh in the global financial arena by providing relevant information and related indicators about its overall economic situation, experts said.

"The rating would face downward pressure if a major shock to confidence, perhaps emanating from political or fiscal setbacks, or a deterioration of the balance of payments, resulted in a substantial reversal of gains in the external payment position or adversely altered the improving trends in government and external debt trajectories," the Moody's said in its updated report.

Mr. Siddique also said the Moody's has forecast that the country may face pressure on its BoP.

The overall balance showed a deficit of US$711 million during July-January period of this fiscal against the surplus of $2.138 billion in the corresponding period of the previous fiscal due to deficit of $1.174 billion in financial account, according to the central bank statistics.

Pressure on the country's BoP has increased in recent months due to widening trade gap, lower growth of inward remittance and deficit balance in the financial account.

The BoP entered the negative territory in November last after a long time and the deficit widened further in January this year, the BB officials said.

"The economy of Bangladesh is treading the path to a higher growth potential, but is also facing modest near-term risks. With declining poverty, improved food security, favourable demographics, and recent efforts to enhance infrastructure, conditions for higher growth are visible," the Moody's said.

However, a recent deceleration of remittance inflows, and a rising trade imbalance are resulting in modest near-term pressures on the external balance of payments, it added.

Economic and banking event risks are low, and polarized politics do not threaten the policy framework, the rating agency said, adding that macro-financial stability, low external indebtedness, and improving banking fundamentals are key support factors.

"Excessive government interventions in the stock market or in state enterprises may raise contingent fiscal pressures somewhat. But these are expected to remain within the liquid resources of the broader public sector," it noted.

The policy framework is reasonably effective, but deeper reforms will help sustain higher growth targets, the Moody's said.

The on-going tax and budgetary reforms and reasonably effective monetary management can absorb the modest-sized near-term balance of payments pressures, it added.

However, amidst Bangladesh's rising energy intensity and pent up demand for capital goods, land reforms and improvements in governance are important, the Moody's noted.

"These could attract greater foreign direct investment which would be useful in countering the possible materialization of sustained external pressures," it said.

The global rating agency said Bangladesh's rating could move up if sustained increases in economic growth were to be supported by infrastructure improvements, enhanced regional integration and a broadening of the tax revenue base.

"These developments could support improvements in government debt affordability and overall fiscal flexibility; and also encourage greater foreign investment which could fortify the reasonably healthy external payments position," it noted.

The Moody's last rating action on Bangladesh was on April 12, 2010, at which time the local and foreign currency issuer ratings were assigned a Ba3, with a stable outlook.

Citibank NA worked as an adviser for the Moody's rating.

 

[integra]

HK co to Invest $ 9.206m in Ishwardi EPZ

Rosita Knitwears (Pvt) Limited, a Hong Kong company, will set up a sweater manufacturing industries in the Ishwardi Export Processing Zone.

This fully foreign owned company will invest 9.206 million US dollar in setting up their unit and will manufacture sweater items.

The company will also create employment opportunity for 4,304 Bangladeshi nationals.

An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and Rosita Knitwears (Pvt) Limited in BEPZA Complex, recently.

Md. Moyjuddin Ahmed, member (investment promotion) of BEPZA and Chu Wai Hay, assistant general manager of Rosita Knitwears (Pvt) Limited signed the agreement on behalf of-their respective organizations.

Major General ATM Shahidul Islam, ndu, psc, executive chairman, A.K.M Mahbubur Rahman, member (finance), A.Z.M. Azizur Rahman, general manager (investment promotion) and other officials of BEPZA were present at the signing ceremony.

 

[integra]

Italian company invests US$ 2.425 million in Comilla EPZ

DHAKA, May 6 (BSS)- Italia knitworks Ltd, an Italian sweater manufacturing company, will set up a Sweater producing unit investing 2.425 million US dollars in the Comilla Export Processing Zone.

An agreement to this effect was signed between the BEPZ authority and M/s. Italia knitworks Ltd at BEPZA complex here yesterday (Thursday).

The company by setting up manufacturing unit will create employment opportunities for 783 Bangladeshis.

Md. Moyjuddin Ahmed, Member (Investment Promotion) of BEPZA and Angiolino Guagliumi, Managing Director of M/s. Italia Knitworks Limited signed the agreement on behalf of their respective organizations.

Major General A T M Shahidul Islam, Executive Chairman, Md. Shawkat Nabi, secretary, A.Z.M. Azizur Rahman, General Manager (Investment Promotion) and other officials of BEPZA were present at the signing ceremony.

 

[eastwatch]

Bangladesh to import gas from Myanmar, Malaysia

Kolkata, April 6 (IANS) Bangladesh is planning to import natural gas from Myanmar, Malaysia and Indonesia as new scientific calculations have shown that the country has limited gas reserve, a top diplomat of the country said Wednesday.

‘New scientific calculations have shown that there is limited gas reserve. We are planning to import gas from Malaysia and Indonesia. We are in talks with the Myanmarese government for importing gas,’ Bangladesh Deputy High Commissioner in Kolkata Mustafizur Rahman said in an interactive session organised by the Bengal National Chamber of Commerce and Industry (BNCCI).

Asked whether Bangladesh was willing to export its natural gas to India, he said: ‘If the reserve of gas is sufficient, then we can think about exporting gas.’

Rahman said Bangladesh was looking forward to full implementation of South Asian Free Trade Area (SAFTA) agreement to correct trade imbalance with India.

‘When SAFTA will be implemented fully, then exportable items from Bangladesh to India will be increased. We expect India to be more generous in expanding trade relation with us,’ he said.

During 2009-10, Bangladesh’s exports to India were $276.58 million and imports from India were $3,202.1 million.

‘Indian entrepreneurs can invest in Bangladesh in sectors like textile, ready-made garments, power generation and civil aviation,’ he said.

Bangladesh to import gas from Myanmar, Malaysia

Bangladesh has about 32 trillion (million x million) cft of gas of which only a few trilion has been extracted. BD does not want to sell any of it to India. Nor it is willing to allow Companies like TATA to build steel mills which will consume huge quantity of gas. TATA will take all those refined steel to India without any real benefits to the economy of this country.

India keeps on pressing BD to grant a permission to TATA, which the present weak GoB cannot refuse directly. So, they have devised a way to outskirt Indian request. BD now denies existence of huge gas reserves in the country and is telling about importing it. But, I do not see any symptoms of building any unloading facilities near the coast.

 

[Tiki Tam Tam]

I wonder if India has surplus natural gas.

It is good that BD will import from Myanmar, Malaysia and Indonesia.

Tata Steel is the second largest steel producer in Europe with a well diversified presence across the continent.

Surprising that they are not importing this steel from Europe to India.

If Tata produces steel in India will they be paying the taxes, revenue and profits to the Indian Govt? Funny isn't it that one expects that this will happen? It has happened no where in the world, but Bangladeshis like Eastwatch feels it will!

No employment for Bangladeshi either?

Great confidence Eastwatch shows in his own country.

But since it will be the first time in history such a stupidity will be happening, as imagined by confidence lacking individuals, they can at least take heart - it will be in the Guinness Book of World Record at least!!

 

[Tiki Tam Tam]

People gloat over Knitwear companies employing 783 Bangladeshis and yet they are clueless how many a Steel manufacturing industry will employ!!

 

[integra]

People gloat over Knitwear companies employing 783 Bangladeshis and yet they are clueless how many a Steel manufacturing industry will employ!!

Bangladesh enjoys self-sufficiency in its infrastructure and real-estate companies when it comes to steel, cement,brick and glass.
Recently they have started exporting. Now if another foreign company wants to invest in whats already over here is just meaningless. Employment opportunities are being created every month for the last ten years its not a big deal
if some one creates a decent amount of jobs.
What matters is how will it contribute to national economy. Another steel mill is just a stupid Idea.

 

[eastwatch]

I wonder if India has surplus natural gas.

It is good that BD will import from Myanmar, Malaysia and Indonesia.

Tata Steel is the second largest steel producer in Europe with a well diversified presence across the continent.

Surprising that they are not importing this steel from Europe to India.

If Tata produces steel in India will they be paying the taxes, revenue and profits to the Indian Govt? Funny isn't it that one expects that this will happen? It has happened no where in the world, but Bangladeshis like Eastwatch feels it will!

No employment for Bangladeshi either?

Great confidence Eastwatch shows in his own country.

But since it will be the first time in history such a stupidity will be happening, as imagined by confidence lacking individuals, they can at least take heart - it will be in the Guinness Book of World Record at least!!

You continuously brag about something which you cannot support with logic. Do you really want to know why do I oppose TATA's steel and Urea fertilizer plants in Bangladesh? If so, say yes and I will explain. But, do not come then with your circular logic.