Banglalink to up investment next year

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Md Jamal Uddin, back from Egypt Banglalink's parent company Orascom Telecom Holdings has finalised the size of capital it invest next year in Bangladesh, top boss of the company said recently. Orascom Group Chief Executive Officer (GCEO) Ahmed Abou Doma unveiled the investment plan to a group of Bangladeshi journalists in Cairo who were there on a company sponsored trip. Mr. Doma, however, did not reveal the actual size of investment, but hinted that the amount would be higher than that of last year. The company took the investment decision at its headquarters in Cairo on October 18. The investment will be made mainly for network development and 3G (Third Generation) service, he added. Mr Doma, who was CEO of Banglalink for three years before taking charge of GCEO of Orascom, said the country's tele-density is less compared to its population and land. He suggested that the government formulate an investment friendly long term policy for developing the sector. "If the government does this then large amounts of foreign investment will pour in the country," Mr Doma said. The country has ample opportunity to proceed by using information technology, he thinks. He said the company is eager to set up an outsourcing centre and 'smart village' in Bangladesh like Egypt. If they set up it then many entrepreneurs will invest in the country, he expressed the hope. Mr Doma invited the telecom minister, chairman of telecom regulator and policy makers of the country to visit the 'smart village' of Egypt. Talking about 3G issue, he expected that the regulatory body would form a guideline in this connection, sitting with the ministry and the operators. In reply to a question on Banglalink, the Orascom GCEO said his company's policy is to invest for long term and the outcome of long term investment comes late. Egypt-based company Orascom under brand Banglalink started business in the country in 2005 by buying the share of Sheba Telecom in 2004. The operator has a total of 22.139 million subscribers until September 2011 according to the Bangladesh Telecommunications Regulatory Commission (BTRC) data. Orascom Telecom is also working in seven other countries of the world. The countries are Pakistan, Lebanon, North Korea, Egypt, Canada, Algeria and Zimbabwe.