ADB for increased interaction over large FDI proposal
Monday, 8 October 2007
M Azizur Rahman
The Asian Development Bank (ADB) wants proper dissemination of relevant information and discussion among stakeholders concerned on issues relating to big foreign investment proposals awaiting government approval.
Asian Development Bank (ADB) director general for South Asia Department Kunio Senga, who just concluded his four-day visit to Bangladesh as the head of a high-powered delegation, pointed out the need in an exclusive interview with the FE.
Currently, a number of investment proposals including UK-based Asia Energy's US$2.5 billion, Indian business conglomerate Tata Group's $3.0 billion, US-based Vulcan Energy's $1.6 billion and South Korean Luxon Global's $1.5 billion investment proposals are pending with the Board of Investment (BoI) for decisions.
Sticking to his points regarding FDI decisions, Senga said: "What is important is to gather relevant information systematically and disseminate the same to public at large."
"All concerned including some groups which are opposed to some of the FDI proposals should be given necessary information to help them make intellectual decisions," he told the FE before leaving the country.
Terming the Phulbari incident as unfortunate, Kunio Senga said: "We could have avoided such incident if proper information could be provided in time by authorities concerned."
Several people were killed at Phulbari last year when the local people clashed with law enforcers while protesting against Asia Energy's coal mining move there.
He also cautioned that if the dissemination of information was not done by trusted group or by properly authorised party it might generate more suspicion.
The Board of Investment (BoI) can, however, play a key role in disseminating information in a trust-worthy manner, he noted.
Referring to the incumbent government's strategy on Asia Energy's Phulbari coalmine's project, Senga observed that government is obviously carefully looking into the various aspects including environmental aspects and resettlement issues.
Supporting the caretaker government's roadmap for holding election, the ADB chief for South Asia Department said: "I am pleased to note that government's commitment to the objective of conducting free and fair election is still firm as it was in the beginning."
Kunio Senga visited Dhaka in February 2007 immediately after assumption of power by the present caretaker government.
"During that time I notice strong popular support for this government because from the beginning the caretaker government clearly indicated their commitment to hold free , fair and transparent elections," he said.
He also appreciated the measures taken by the present interim government to effect reforms in both political and economic arenas.
"That is why we are not only continuing but also accelerating some of the ADB projects in power, water and other sectors. We are also attaching importance to governance related projects and our continued support to Anti-Corruption Commission (ACC)," Senga added.
The ADB director general also observed that the energy and power sector in Bangladesh has huge potentials for development.
Kunio Senga, however, was critical about increased reliance on the natural gas resources.
"Diversification to other sources such as coal is important aspect in generating more power particularly in the context of persistent power shortage in the country," he pointed out.
The ADB has also planned to support the government's efforts for recouping losses due to two consecutive floods, he said.
"We are now determining the scopes for possible assistance," he said.
The Asian Development Bank (ADB) wants proper dissemination of relevant information and discussion among stakeholders concerned on issues relating to big foreign investment proposals awaiting government approval.
Asian Development Bank (ADB) director general for South Asia Department Kunio Senga, who just concluded his four-day visit to Bangladesh as the head of a high-powered delegation, pointed out the need in an exclusive interview with the FE.
Currently, a number of investment proposals including UK-based Asia Energy's US$2.5 billion, Indian business conglomerate Tata Group's $3.0 billion, US-based Vulcan Energy's $1.6 billion and South Korean Luxon Global's $1.5 billion investment proposals are pending with the Board of Investment (BoI) for decisions.
Sticking to his points regarding FDI decisions, Senga said: "What is important is to gather relevant information systematically and disseminate the same to public at large."
"All concerned including some groups which are opposed to some of the FDI proposals should be given necessary information to help them make intellectual decisions," he told the FE before leaving the country.
Terming the Phulbari incident as unfortunate, Kunio Senga said: "We could have avoided such incident if proper information could be provided in time by authorities concerned."
Several people were killed at Phulbari last year when the local people clashed with law enforcers while protesting against Asia Energy's coal mining move there.
He also cautioned that if the dissemination of information was not done by trusted group or by properly authorised party it might generate more suspicion.
The Board of Investment (BoI) can, however, play a key role in disseminating information in a trust-worthy manner, he noted.
Referring to the incumbent government's strategy on Asia Energy's Phulbari coalmine's project, Senga observed that government is obviously carefully looking into the various aspects including environmental aspects and resettlement issues.
Supporting the caretaker government's roadmap for holding election, the ADB chief for South Asia Department said: "I am pleased to note that government's commitment to the objective of conducting free and fair election is still firm as it was in the beginning."
Kunio Senga visited Dhaka in February 2007 immediately after assumption of power by the present caretaker government.
"During that time I notice strong popular support for this government because from the beginning the caretaker government clearly indicated their commitment to hold free , fair and transparent elections," he said.
He also appreciated the measures taken by the present interim government to effect reforms in both political and economic arenas.
"That is why we are not only continuing but also accelerating some of the ADB projects in power, water and other sectors. We are also attaching importance to governance related projects and our continued support to Anti-Corruption Commission (ACC)," Senga added.
The ADB director general also observed that the energy and power sector in Bangladesh has huge potentials for development.
Kunio Senga, however, was critical about increased reliance on the natural gas resources.
"Diversification to other sources such as coal is important aspect in generating more power particularly in the context of persistent power shortage in the country," he pointed out.
The ADB has also planned to support the government's efforts for recouping losses due to two consecutive floods, he said.
"We are now determining the scopes for possible assistance," he said.