Pro-active investment authority to help attract FDI

Ismail Hossain | Published: April 07, 2016 00:00:00 | Updated: February 01, 2018 00:00:00

Sanjiv Lamba

Sanjiv Lamba, visiting member of the executive board of Linde AG, said Bangladesh needs uninterrupted power supply, a pro-active investment authority and proper enforcement of policy to attract foreign direct investment.
"Despite some constraints, I would still suggest investors to come here and invest," he said while talking to a selective press gathering Wednesday.
Supporting Linde's new investment here, he said, "People in Bangladesh have 'hidden values' not seen by many investors, local people very passionate, productive and want a change. Lots of new developments are taking place along with booming services including medical care."
"I met few clients and everybody was talking about growth."
Sanjiv Lamba was visiting Bangladesh to attend ground breaking ceremony of Linde Bangladesh Limited's construction work of the largest ever air separation unit (ASU) in the country in Rupganj at a cost of Tk 1.2 billion.
Linde Bangladesh Limited is a member of industrial gases division of German Linde AG, one of the world's leading industrial, medical gases company.
Linde Bangladesh put the largest ever investment here in the country for the first time after the acquisition of BOC Bangladesh by Linde Group. The Group owns 60 per cent shares of Linde Bangladesh Limited.
The Rupganj plant will raise Linde Bangladesh's current production capacity to a new height, strengthening Linde's position as the leading gases player in Bangladesh. A state-of-the-art cylinder filling site at Rupganj will also be built to provide a range of cylinder products to customers across all market segments.
Mr Lamba said: "We are very pleased to have leading position in Bangladesh providing medical and industrial gases".
He said Linde in Bangladesh has higher growth than that of its global growth.
Linde's investment in this new plant was announced in November 2015. When completed in 2017, the Rupganj plant will produce approximately 100 tonnes per day of liquefied gases, making it the largest liquid producing ASU in Bangladesh.
Linde will design, build and manage the Rupganj plant embarking on state-of-the art energy efficient technology.
It will provide liquefied gases supply and related solutions to Bangladesh's growing healthcare, food and beverage, fabrication, pharmaceutical, shipbuilding and ship recycling industries.
Mr Lamba said the investment authority has to be more proactive here to attract foreign investment.
Mentioning experience in Singapore and Malaysia, Mr Lamba, also chief operating officer of Linde Asia Pacific, said their investment authorities always keep in touch with Linde. They always discuss as to find out a better way to help foreign investors. Â
"We don't find many German investors here. The Germen envoy in Dhaka is working on a plan to invite more German investor here," he said.
Lamba, who oversees 20 countries in Asia Pacific region, said Asia Pacific is the growth engine for The Linde Group, and Bangladesh business is an important part of the group's larger South Asia business. Bangladesh is one of the top three of the 20 countries.
"Economically, Bangladesh has developed an impressive rate, maintaining a steady growth rate in recent years amidst a global economic downturn. We are optimistic that the country will continue to grow year-on-year."
Mr. Lamba added, "Demand for our gases offerings has continued to be strong and we are making this investment as an investment for the future. We are proud to continue to partner Bangladesh in its growth journey just as we always have for the past 60 years."
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