Economic zones to create 1cr jobs, boost export by $40 billion

[TopCat]

Vietnam's total exports are 200 billion and garments are like less than 20% of their total exports. It isnl pointless to compare with them at our current state.

Export will probably reach like $45 billion this year. Fuelled by Garments. $50 billion is not far fetched in a couple of years. But I don't see mass investments pouring in to Bangladesh.

I remember Tofail said total exports will reach $60 billion and IT exports will be $5 billion by 2021..but what is happening? 60 billion expectation will fall short by 10 billion. And even if it somehow reach the target of 60 billion it will be because of RMG. IT exports will not even reach $2 billion.

Huge investment is going on in Chemical, Petrochemical and Steel production. These are the primary industries for the secondary industry to thrive. You need to wait and give some time.
Our companies are not worried about export market right at this moment as there are big domestic market to exploit. They can make better money selling locally than selling internationally unless the brand is established. Vietnam hardly can keep any money from Samsung despite exporting 45 billion dollar from its plant. Think Samgung is a Vietnamese company and exporting 45 billion and how it could had impacted their socio economic condition.

 

[UKBengali]

Huge investment is going on in Chemical, Petrochemical and Steel production. These are the primary industries for the secondary industry to thrive. You need to wait and give some time.
Our companies are not worried about export market right at this moment as there are big domestic market to exploit. They can make better money selling locally than selling internationally unless the brand is established. Vietnam hardly can keep any money from Samsung despite exporting 45 billion dollar from its plant. Think Samgung is a Vietnamese company and exporting 45 billion and how it could had impacted their socio economic condition.

Good point.

BD actually has a large enough internal market that it can afford to not rely too heavily on exports.
As an example 130 million pop Japan has exports that are a little over 10% of GDP, whereas 55 million population S Korea has exports that are 30% of GDP.
BD companies are currently focusing on the internal 160 million population home market while slowly working on the export market.

 

[bluesky]

Huge investment is going on in Chemical, Petrochemical and Steel production.

Can you give us the names of a few renowned chemicals, petrochemical and steel companies and where these have been established? For chemicals do you mean those companies that produce face powder and lipstick? Like Kohinoor Chemicals? There is also no petrochemical industry in Bangladesh. It takes at least $1,000 million to design and construct such an industry.

There is also not a single integrated steel mill so far in BD. There are some steel mills where steel scraps are melted and rods and bars are produced. A country should have a few numbers of integrated steel mills when a PDF poster can claim the existence of steel mills in the country. You are talking hollow as usual. Do you understand what is an Integrated Steel Mill means? By the way, when the Japanese will invest in the Kushtia EPZ?

 

[Mage]

Can you give us the names of a few renowned chemicals, petrochemical and steel companies and where these have been established?

This and the amount of investments instead of citing it as 'huge'.

 

[TopCat]

Can you give us the names of a few renowned chemicals, petrochemical and steel companies and where these have been established? For chemicals do you mean those companies that produce face powder and lipstick? Like Kohinoor Chemicals? There is also no petrochemical industry in Bangladesh. It takes at least $1,000 million to design and construct such an industry.

There is also not a single integrated steel mill so far in BD. There are some steel mills where steel scraps are melted and rods and bars are produced. A country should have a few numbers of integrated steel mills when a PDF poster can claim the existence of steel mills in the country. You are talking hollow as usual. Do you understand what is an Integrated Steel Mill means? By the way, when the Japanese will invest in the Kushtia EPZ?

Look around dude.. instead of sitting at home and beating PDF

 

[Mage]

Look around dude.. instead of sitting at home and beating PDF

Your posts are always like that. You stake a hollow claim and when someone asks for evidence you tell that person to find it himself.

 

[Nike]

How about your State owned enterprise? in my country Indonesia, Singapore and Malaysia they playing huge parts on economy development. Usually soe playing huge part on attracting Foreign investment for their projects or joint venture, the like of asahan INALUM is one big examples here,

 

[bluesky]

Your posts are always like that. You stake a hollow claim and when someone asks for evidence you tell that person to find it himself.

I do not know if @TopCat has a position in the govt, but @Nilgiri says he is in the BIMAN. So, I understand why BIMAN is almost Bankrupt. It is surviving on the govt dole. Anyway, @TopCat like people are enormous in the govt bureaucracy. This is why the country's economy will very shortly stop growing.

@TopCat, if you do not know, Chittagong Steel Mills was the only Integrated Steel Mill in BD which was built in around 1965 Pakistan time by Kobe Steel Company of Japan. This mill has been eaten away by the BAL people. Now, its bones have also been destructed and melted.

The countries which breed people with integrated mindsets are able to build such an integrated fantasy factory. BD is full of crafty people who love to destroy everything good. Japanese and Germans are so different. This is why what they can do, we cannot.

 

[integra]

Can you give us the names of a few renowned chemicals, petrochemical and steel companies and where these have been established? For chemicals do you mean those companies that produce face powder and lipstick? Like Kohinoor Chemicals? There is also no petrochemical industry in Bangladesh. It takes at least $1,000 million to design and construct such an industry.

There is also not a single integrated steel mill so far in BD. There are some steel mills where steel scraps are melted and rods and bars are produced. A country should have a few numbers of integrated steel mills when a PDF poster can claim the existence of steel mills in the country. You are talking hollow as usual. Do you understand what is an Integrated Steel Mill means? By the way, when the Japanese will invest in the Kushtia EPZ?

Shall try to make this short , since I had the pleasure of working with a local steel factory here are some informations that I have seen while travelling.

GPH ISPAT is currently 80% complete in their first integrated steel manufacturing mill , the equipment are mostly Italian/German. The project got delayed at first because of inefficiency of Chinese contractors in setting up the master plan then they had to hire project manager from India and now Italian consultants are working on it. Anyways last week I saw their front wing towards the road almost complete with the massive orange girders being installed but no updated pictures sorry. The furnace units are installed as of now. The google map is not showing the updates either.

http://www.gphispat.com.bd/News/GPH_signs_contract_with_Siemens_for_PDS

About the petrochemical industry I'm not sure about government initiatives but I've heard about Super Petrochemical(PVT) setting up a plant in Dangar Char Chittagong which is in trial run,it will take two more years to go full operational. I might be wrong for this case though.

In some other posts it seems you people were asking about the unavailability of cnc machines in BD, but theres plenty of that nowadays mainly USA made Haas CNC and CNC lathes in the country. Big houses like RFL and Walton has their own VMC machining lines. We do have a shortage of good product developers in this country though , plenty of engineers as of late.

 

[TopCat]

Your posts are always like that. You stake a hollow claim and when someone asks for evidence you tell that person to find it himself.

Google is your friend.. don't ask everytime to Google it for you. Here is one result came out by typing 3 words
https://www.google.com/amp/s/www.th...s/25b-investment-round-the-corner-1565998?amp

How about your State owned enterprise? in my country Indonesia, Singapore and Malaysia they playing huge parts on economy development. Usually soe playing huge part on attracting Foreign investment for their projects or joint venture, the like of asahan INALUM is one big examples here,

It took us long painfully years to disinvest and close state run factories. Govt will not do business by itself, that is the core of our industrial policy.

 

[UKBengali]

Google is your friend.. don't ask everytime to Google it for you. Here is one result came out by typing 3 words
https://www.google.com/amp/s/www.thedailystar.net/business/25b-investment-round-the-corner-1565998?amp


It took us long painfully years to disinvest and close state run factories. Govt will not do business by itself, that is the core of our industrial policy.

There is a group of negative BD posters who join trolls in putting BD down.

 

[Nilgiri]

I do not know if @TopCat has a position in the govt, but @Nilgiri says he is in the BIMAN. So, I understand why BIMAN is almost Bankrupt. It is surviving on the govt dole. Anyway, @TopCat like people are enormous in the govt bureaucracy. This is why the country's economy will very shortly stop growing.

@TopCat, if you do not know, Chittagong Steel Mills was the only Integrated Steel Mill in BD which was built in around 1965 Pakistan time by Kobe Steel Company of Japan. This mill has been eaten away by the BAL people. Now, its bones have also been destructed and melted.

The countries which breed people with integrated mindsets are able to build such an integrated fantasy factory. BD is full of crafty people who love to destroy everything good. Japanese and Germans are so different. This is why what they can do, we cannot.

It is also large reason why topcat does not like FDI. FDI will bring real competition and challenge to his types and their narrative of BAL govt-stronk "local investment = best" growth. The narrative frays though as countries like Vietnam clearly advance in leaps and bounds today... though starting with much more gutted country (post vietnam war) than BD ever was.

BTW, I call him biman babu because he in some travel agency/aviation sector company or role in govt etc (and we all know how tied at the hip they all are in small market like BD)....I am not sure if he works for Biman directly (he claims not to).

 

[bluesky]

It is also large reason why @TopCat does not like FDI. FDI will bring real competition and challenge to his types and their narrative of BAL govt-stronk "local investment = best" growth. The narrative frays though as countries like Vietnam clearly advance in leaps and bounds today... though starting with much more gutted country (post vietnam war) than BD ever was.

@TopCat must be very unwise to think that FDI should be shunned in favor of local investment as if BD is full of FDI offers. Both can come simultaneously. But, when he thinks of only local investment he does not understand that local investment is fruitful only when technologies and the chemical/mechanical have been developed locally.

Bangladesh people are devoid of these things, whereas all the developed countries of the west developed the technologies through the centuries of efforts and the current Asian developing countries are progressing because they are fed with FDI (including technology) from these developed countries. For faster development, BD needs more FDIs. Locals can make a very tiny contribution as a matter of fact.

However, BD investment climate is not even ripe for FDI. Its investment laws and procedure are so clumsy and long that the interested party would not re-visit it when he knows the reality after the initial visit/inquiry. Like the normal people, the govt people are very negative-minded that makes the would-be investors averse toward Bangladesh.

 

[Nike]

Google is your friend.. don't ask everytime to Google it for you. Here is one result came out by typing 3 words
https://www.google.com/amp/s/www.thedailystar.net/business/25b-investment-round-the-corner-1565998?amp


It took us long painfully years to disinvest and close state run factories. Govt will not do business by itself, that is the core of our industrial policy.

China got tonnes of State owned companies run by proffesional with government roles just owning large share holder or rights and let the SOE pick up their own managerial staff through share holder meeting. The almost same case happened in Indonesia, Malaysia and Singapore, the government just sit and reap the benefit through dividen shares and annual tax, and only intervene when sit hit the fan or extraordinary cases.

 

[TopCat]

@TopCat must be very unwise to think that FDI should be shunned in favor of local investment as if BD is full of FDI offers. Both can come simultaneously. But, when he thinks of only local investment he does not understand that local investment is fruitful only when technologies and the chemical/mechanical have been developed locally.

Bangladesh people are devoid of these things, whereas all the developed countries of the west developed the technologies through the centuries of efforts and the current Asian developing countries are progressing because they are fed with FDI (including technology) from these developed countries. For faster development, BD needs more FDIs. Locals can make a very tiny contribution as a matter of fact.

However, BD investment climate is not even ripe for FDI. Its investment laws and procedure are so clumsy and long that the interested party would not re-visit it when he knows the reality after the initial visit/inquiry. Like the normal people, the govt people are very negative-minded that makes the would-be investors averse toward Bangladesh.

Its not my theory but economic theory. For a sustained growth FDI should not go above 5% of your GDCF.
Considering our GDCF hovering around 100 billion which warrant 5 billion dollar of average FDI for our economy as a healthy one. I never said I am against FDI. We should double our FDI intake from the current level.

China got tonnes of State owned companies run by proffesional with government roles just owning large share holder or rights and let the SOE pick up their own managerial staff through share holder meeting. The almost same case happened in Indonesia, Malaysia and Singapore, the government just sit and reap the benefit through dividen shares and annual tax, and only intervene when sit hit the fan or extraordinary cases.

Actually we had a false start by nationalizing all private owned companies in 70's and turned them into a loss making ones. We had to close them eventually or sell them off. Now the policy is that govt will not go into business rather work as facilitator and regulator.