BD mulls industrial park for South Asian investors: Faruk
Sunday, 22 May 2011
FE Report
Bangladesh is actively considering Indian entrepreneurs' proposal to build a mega special economic zone here in an effort to woo billions of dollars in foreign direct investment from South Asia, a minister said Saturday. Commerce minister Muhammad Faruk Khan said his government has planned to set up the industrial park to boost regional economic cooperation and generate much needed jobs and economic growth for the country. "We are looking for a special economic zone in Bangladesh so that South Asian entrepreneurs can invest here. It will benefit every nation in the region," the commerce minister said. The minister said the South Asian countries --- home to one-fourth of the humanity --- should also work closely to provide power to majority of the people. "We (South Asian countries) should join our hands so that our people can get electricity," he said, stressing understanding and cooperation between Bangladesh and India on power sector especially renewable energy. Khan made the comments while inaugurating an exposition on Indian electrical equipment at a Dhaka hotel. The three day long "India Investrade 2011" showcases goods from 48 Indian electrical companies. Indian entrepreneurs speaking at the ceremony praised Dhaka's investment climate, saying the country with abundance of cheap labour and favourable trade access to top global economies could emerge as a regional manufacturing hub. "Bangladesh and India can cooperate in various fields," Chairman of North-East Initiatives of Indian Chamber of Commerce (ICC) Mr MK Saharia "India is the second largest growing economy in the world and we genuinely believe in the prosperity of Bangladesh. If Bangladesh sets up a mega industrial park for South Asian investors, it will draw billions of dollars of investment," he said. Indian high commissioner to Dhaka Rajeet Mitter said the demand for power equipment is increasing fast in Bangladesh and India and the countries could cooperate in the field for their mutual benefits. Indian Commerce Ministry and Indian Chamber of Commerce (ICC) organised the exposition which will continue through May 23. Commerce Minister Muhammad Faruq Khan was present as the chief guest. Director General (DG) of ICC Dr Rajeeb Singh delivered the address of welcome. President of India- Bangladesh Chamber of Commerce and Industry (IBCCI) Mr Abdul Matlub Ahmad, Presidents of FBCCI AK Azad and MCCI Amzad Khan Chowdhury also spoke on the occasion. "Bangladesh is one of the most investment friendly destinations in South Asia. We invite Indian entrepreneurs to join hands with Bangladeshi businessmen in the power sector of Bangladesh", said Matlub. AK Azad said: "Bangladeshi entrepreneurs are ready to provide land to Indian manufacturers for investment here. You can share your technology in power and energy sector," he said. President of DCCI Mr. Asif Ibrahim said, "Power sector cooperation between Bangladesh and India is important. There can be joint venture projects in Bangladesh to produce electrical equipment."
Bangladesh is actively considering Indian entrepreneurs' proposal to build a mega special economic zone here in an effort to woo billions of dollars in foreign direct investment from South Asia, a minister said Saturday. Commerce minister Muhammad Faruk Khan said his government has planned to set up the industrial park to boost regional economic cooperation and generate much needed jobs and economic growth for the country. "We are looking for a special economic zone in Bangladesh so that South Asian entrepreneurs can invest here. It will benefit every nation in the region," the commerce minister said. The minister said the South Asian countries --- home to one-fourth of the humanity --- should also work closely to provide power to majority of the people. "We (South Asian countries) should join our hands so that our people can get electricity," he said, stressing understanding and cooperation between Bangladesh and India on power sector especially renewable energy. Khan made the comments while inaugurating an exposition on Indian electrical equipment at a Dhaka hotel. The three day long "India Investrade 2011" showcases goods from 48 Indian electrical companies. Indian entrepreneurs speaking at the ceremony praised Dhaka's investment climate, saying the country with abundance of cheap labour and favourable trade access to top global economies could emerge as a regional manufacturing hub. "Bangladesh and India can cooperate in various fields," Chairman of North-East Initiatives of Indian Chamber of Commerce (ICC) Mr MK Saharia "India is the second largest growing economy in the world and we genuinely believe in the prosperity of Bangladesh. If Bangladesh sets up a mega industrial park for South Asian investors, it will draw billions of dollars of investment," he said. Indian high commissioner to Dhaka Rajeet Mitter said the demand for power equipment is increasing fast in Bangladesh and India and the countries could cooperate in the field for their mutual benefits. Indian Commerce Ministry and Indian Chamber of Commerce (ICC) organised the exposition which will continue through May 23. Commerce Minister Muhammad Faruq Khan was present as the chief guest. Director General (DG) of ICC Dr Rajeeb Singh delivered the address of welcome. President of India- Bangladesh Chamber of Commerce and Industry (IBCCI) Mr Abdul Matlub Ahmad, Presidents of FBCCI AK Azad and MCCI Amzad Khan Chowdhury also spoke on the occasion. "Bangladesh is one of the most investment friendly destinations in South Asia. We invite Indian entrepreneurs to join hands with Bangladeshi businessmen in the power sector of Bangladesh", said Matlub. AK Azad said: "Bangladeshi entrepreneurs are ready to provide land to Indian manufacturers for investment here. You can share your technology in power and energy sector," he said. President of DCCI Mr. Asif Ibrahim said, "Power sector cooperation between Bangladesh and India is important. There can be joint venture projects in Bangladesh to produce electrical equipment."