55 reputed foreign cos to attend London road-show
Monday, 14 December 2009
FE Report
A high profile Bangladesh team Sunday left Dhaka for London as part of the government's efforts to attract US$5.0 billion foreign investment in the country's nagging power and energy sectors.
A total of 55 reputed foreign companies and 25 non-resident Bangladeshis have already registered online to attend the London road-shows.
The team, through the two-day London road-shows to be started tomorrow (Tuesday), would present Bangladesh as an attractive destination for investment and particularly in power and energy sectors and setting up a liquefied natural gas terminal, said Dr Tawfiq-e-Elahi Chowdhury, adviser to the prime minister for power and energy, before flying out for the United Kingdom capital.
The leader of the government team was talking to reporters at Zia International Airport (ZIA), which was attended by other members of the delegation.
Board of Investment (BoI) executive Chairman S A Samad, Power Secretary Md Abul Kalam Azad, Bangladesh Power Development Board (BPDB) Chairman A S M Alamgir Kabir, Petrobangla Chairman Prof Hossain Monsur, Bangladesh Petroleum Corporation (BPC) Chairman Anwarul Karim, Bangladesh Energy Regulatory Commission (BERC) Chairman Ghulam Rahman, Law Secretary Kazi Habibul Awal and Deputy Governor of Bangladesh Bank Ziaul Hasan Siddiqui, were, among others, present during the press conference.
This is the first leg of the 11-member team's foreign visit. It is scheduled to tour Singapore on January 25-26 and New York on January 27-28 next year to arrange road-shows to attract investors.
Tawfiq-e-Elahi Chowdhury said a total of 11 projects would be presented during the two-day road-shows in London.
The projects are- Bibiyana 300-450megawatt (MW) 2nd Unit, Meghnaghat 300-450mw dual fuel unit CC, Bhola 150-225mw 2nd CC, Savar Peaking and Kaliakoir Peaking each 100mw and imported coal-based steam plant of 2000-2600mw.
Four renewable energy projects with a total capacity of 110mw would also be presented along with the LNG terminal project in the Bay of Bengal, the adviser said.
"Together, the 11 projects would require around five billion dollars' investment," he said.
Mr Chowdhury said during the visit, the team would also try to better the country's image and present investment environment and incentive packages to the prospective investors. "We would also arrange one-to-one meeting with the investors on the sidelines of the road-shows."
"Foreign investors will not find any better place for investment like Bangladesh," he said.
The adviser said the government is emphasising on fuel diversification to solve the power and gas crisis through increasing use of renewable energy sources and coal. "We have taken steps on new investment and strategic fronts."
"The economy would grow at around six to seven per cent annually over the next couple of years if we can solve the energy crisis."
BoI executive chairman S A Samad said direct investment to Bangladesh is historically low. "Many countries have succeeded in attracting foreign direct investment. We have now targeted that area."
He acknowledged that the investment in the country is being hampered due to gas and electricity crisis.
Mr Samad said during the road-shows, the team would appraise the investors about the current state of the Bangladesh economy, its different reforms projects and environment. "We would try to convince them that it is safer and profitable to investment in Bangladesh."
The BoI chief said this road-show can be termed as a sectoral show as it would exclusively display the projects on energy and power.
"Foreign investors would enjoy highest rate of return if they invest in Bangladesh and the government is simplifying the process for investment so that they are not gone through any harassment."
A high profile Bangladesh team Sunday left Dhaka for London as part of the government's efforts to attract US$5.0 billion foreign investment in the country's nagging power and energy sectors.
A total of 55 reputed foreign companies and 25 non-resident Bangladeshis have already registered online to attend the London road-shows.
The team, through the two-day London road-shows to be started tomorrow (Tuesday), would present Bangladesh as an attractive destination for investment and particularly in power and energy sectors and setting up a liquefied natural gas terminal, said Dr Tawfiq-e-Elahi Chowdhury, adviser to the prime minister for power and energy, before flying out for the United Kingdom capital.
The leader of the government team was talking to reporters at Zia International Airport (ZIA), which was attended by other members of the delegation.
Board of Investment (BoI) executive Chairman S A Samad, Power Secretary Md Abul Kalam Azad, Bangladesh Power Development Board (BPDB) Chairman A S M Alamgir Kabir, Petrobangla Chairman Prof Hossain Monsur, Bangladesh Petroleum Corporation (BPC) Chairman Anwarul Karim, Bangladesh Energy Regulatory Commission (BERC) Chairman Ghulam Rahman, Law Secretary Kazi Habibul Awal and Deputy Governor of Bangladesh Bank Ziaul Hasan Siddiqui, were, among others, present during the press conference.
This is the first leg of the 11-member team's foreign visit. It is scheduled to tour Singapore on January 25-26 and New York on January 27-28 next year to arrange road-shows to attract investors.
Tawfiq-e-Elahi Chowdhury said a total of 11 projects would be presented during the two-day road-shows in London.
The projects are- Bibiyana 300-450megawatt (MW) 2nd Unit, Meghnaghat 300-450mw dual fuel unit CC, Bhola 150-225mw 2nd CC, Savar Peaking and Kaliakoir Peaking each 100mw and imported coal-based steam plant of 2000-2600mw.
Four renewable energy projects with a total capacity of 110mw would also be presented along with the LNG terminal project in the Bay of Bengal, the adviser said.
"Together, the 11 projects would require around five billion dollars' investment," he said.
Mr Chowdhury said during the visit, the team would also try to better the country's image and present investment environment and incentive packages to the prospective investors. "We would also arrange one-to-one meeting with the investors on the sidelines of the road-shows."
"Foreign investors will not find any better place for investment like Bangladesh," he said.
The adviser said the government is emphasising on fuel diversification to solve the power and gas crisis through increasing use of renewable energy sources and coal. "We have taken steps on new investment and strategic fronts."
"The economy would grow at around six to seven per cent annually over the next couple of years if we can solve the energy crisis."
BoI executive chairman S A Samad said direct investment to Bangladesh is historically low. "Many countries have succeeded in attracting foreign direct investment. We have now targeted that area."
He acknowledged that the investment in the country is being hampered due to gas and electricity crisis.
Mr Samad said during the road-shows, the team would appraise the investors about the current state of the Bangladesh economy, its different reforms projects and environment. "We would try to convince them that it is safer and profitable to investment in Bangladesh."
The BoI chief said this road-show can be termed as a sectoral show as it would exclusively display the projects on energy and power.
"Foreign investors would enjoy highest rate of return if they invest in Bangladesh and the government is simplifying the process for investment so that they are not gone through any harassment."