Bangladesh News Bangladesh Economy & Development Thread

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Cabinet nods policy to develop local automobile industry​

DHAKA, June 14, 2021 (BSS)-The Cabinet today approved draft of Automobile Industry Development Policy-2021 aiming to develop local automobile industry.

The approval came from the weekly Cabinet meeting held at the Cabinet Room of the Jatiya Sangsad with Prime Minister Sheikh Hasina in the chair.

“We need to develop the automobile industry for our own interest amid the growing demand…We’re thinking for the development of the automobile industry to some extent,” said Cabinet Secretary Khandker Anwarul Islam while briefing reporters at the Secretariat about the outcome of the meeting.

Actually, the government doesn’t want to allow the country to keep its dependency on import, he said.

Anwarul said there is a potential for the development of the automobile industry in the country.

The main objective of the policy is to develop the local industry by ensuring competency in automobile engineering and necessary facilities for production of automobiles and parts, he said.

The Cabinet Secretary said another objective of the policy is to enhance scopes for cooperation and joint-investment between local automobile industries with international automobile brands so that the products of famous brands and models can be produced here at cheaper costs.

He said the Japanese Ambassador in Dhaka has already offered that a famous Japanese company wants to produce their products in Bangladesh.

The policy has been designed in both Bengali and English versions.

Besides, the Cabinet gave the final approval to the draft of the Delimitation of Constituencies Bill, 2021 in a bid to formulate an act, repealing an ordinance promulgated during the military regime in line with the court’s judgment.

“The proposed law has been designed aiming to make an act instead of the existing Delimitation of Constituencies Ordinance 1976,” said the Cabinet Secretary.

No major change was brought to the draft law, he added.

The Cabinet also cleared a proposal for accepting the membership of OIC’s Women Development Organisation (WDO) as well as ratification and signing of the WDO Statute to this end.

The meeting was informed about this year’s February 05-10 visit of the Information and Broadcasting Minister Dr Hasan Mahmud in India.


Strong bike industry inspires component makers​

Buoyed by the government policy aimed at developing the motorcycle industry, local companies are gradually making a foray into the component manufacturing segment with a view to cutting the country's reliance on imports.

The motorcycle industry needs more than 700 components to manufacture a bike. The local light engineering industry can make four components, namely drive chain, seat, stand, and battery.

At first glance, the achievement might seem like nothing compared to the vast requirement. But producing the components locally is a major stride compared to a decade ago when the industry had completely relied on imports to meet the demand.

At least four companies manufacture components in Bangladesh, and one of them is QVC Bangladesh.

Located in Sundarban union in Dinajpur sadar upazila, the company produces around 2.5 lakh drive chains every year against the capacity of about 5 lakh.

ATM Shamsuzzaman, managing director of QVC Bangladesh, started making drive chains in 2014 after seeing the potential of the bike market. He invested around Tk 35 crore to set up the factory, which employs around 200 people.

"My company is unable to fulfil the demand despite running the factory round the clock. Users appreciate the quality of our product," he noted.

QVC Bangladesh supplies drive chains to Grameen Motors, Runner Automobiles, and state-run Atlas Bangladesh.

It meets around 60 per cent of the demand for drive chains of Runner Automobiles.

Officials from Honda, TVS, and Hero have visited his factory and inspected the quality of the product, Shamsuzzaman said, adding that he was optimistic about becoming a supplier of the companies.

Md Tazul Islam, president of the Automobile Components & Accessories Manufacturers Association, said Bangladesh could manufacture all motorcycle components as local vendors had all the resources.

Islam is the managing director of Run Industries, which manufactures motorcycle seats.

Set up at Sibrampur in Faridpur in 2009, the company is the sole seating solution provider to Runner Automobiles and Hero Motorcycle.

It sells more than two lakh seats to Runner and Hero combined. The factory has an annual production capacity of 18 lakh seats.

Local firms could not provide any official data on the annual market size of bike components or spare parts.

The annual demand is worth no less than Tk 500 crore and the market has been growing around 15 per cent per annum for the last 10 years, they said.

The growing demand for the two-wheelers and the Motorcycle Industry Development Policy 2018 has inspired local firms to set up manufacturing facilities or assembly plants to keep prices lower and capture the market share.

Currently, 96 per cent of motorcycles running in the country have either been locally manufactured or assembled.

Around 5 lakh units of motorcycles were sold in 2019. The sales declined to 3.11 lakh units in 2020 as demand fell because of the impacts of the economic slowdown caused by the coronavirus pandemic.

"Local component makers are trying to cater to the motorcycle industry amid challenges," said Hafizur Rahman Khan, chairman of Runner Automobiles, the pioneer in motorcycle manufacturing in Bangladesh.

OBSTACLE FOR LOCAL VENDOR DEVELOPMENT

The government has extended tax facilities to encourage the bike industry to develop local vendors to create world-class products for the local and export markets and to create jobs.

But not a single motorcycle company is working to develop local vendors to produce parts and components. Motorcycle assemblers import finished and semi-finished goods.

WHAT MOTORCYCLE MANUFACTURERS SAY

Khan of Runner Automobiles said policy support was needed to develop local vendors. "Runner is trying to develop local vendors."

Abdul Matlub Ahmad, chairman of Nitol Niloy Group, which assembles Hero-branded motorcycles, said all manufacturers should cooperate with local vendors in the greater interest of the industry.

Shah Muhammad Ashequr Rahman, head of finance and commercial at Bangladesh Honda Pvt Ltd, said manufacturing generated the most robust backward linkages industry through vendors across all sectors of the economy.

He noted the expansion of the motorcycle industry might encourage the growth of the parts component and supporting industries and technical consulting services.

He said the technology transfer was highly required to develop local suppliers. Sound policies and facilities were needed for local suppliers and vendors to produce parts.

"Local manufacturers may be able to offer good quality products at a reasonable price," Rahman added.

Gabtoli flower market eyes export​

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The government is going to build a modern market with air-conditioned storage capacity in Dhaka's Gabtoli, to maintain and preserve quality flowers which would help local traders gain greater access to the export market.

Once the market is built, flower traders in the capital will be able to maintain a cold chain and store unsold flowers in the market centre.

According to people concerned, the project will help prevent 20%-30% of flowers from rotting and increase the supply of quality flowers to both domestic and foreign markets.

The Department of Agricultural Marketing will implement the project named "Strengthening Flower Marketing System through Market Infrastructure, Preservation, and Transport Facilities."

The Public Works Department (PWD) will supervise the construction and the government has already called for a tender on e-Government Procurement (e-GP), to hire contractors for this work.

Dewan Ashraful Islam, deputy director of the Department of Agriculture Marketing and director of the project, said, "Apart from processing flowers, we will try to have cold storage vans here which can help supply flowers to different markets in the capital while maintaining quality."

"I believe the project will increase the demand for our flowers in the domestic and international market," he added.

According to sources, the PWD has set a target of nine months to complete project construction which is expected to cost Tk27.84 crore. The three-storey market centre will accommodate about 350 wholesale flower traders.

Zahir Uddin Md Babor, organizing secretary of the Bangladesh Flower Association, said the market will draw the interest of educated young entrepreneurs to this profession.

He said, "Now flowers are stored like haystacks. This market will change that situation. Maintaining the cold chain in the whole process will create an opportunity to capture the export market."

"We have been asking the government for this since 2014. The initiative has shed some ray of hope for flower traders who have been facing losses due to the Covid-19 pandemic," he added.

"Moreover, if this market is constructed, the social status of traders scattered in places like Shahbag and Sher-e-Bangla Nagar will change. Big investments will come in this sector," he further said.

The government has already brought modern flower processing machines for the market which will be kept on the ground floor, said the Department of Agricultural Marketing.

The new market will be built next to the old market of the Department of Agricultural Marketing in Gabtoli. The two buildings will have a combined space of 55,000 square feet which will be used for wholesale flower trading.

Sher-e-Bangla Nagar Flower Farmers and Traders Cooperative Society Ltd General Secretary, Md Khorshed Alam, said, "Our business has collapsed during Covid-19. Some 170 traders of the association have been struggling to survive."

"I think this initiative will be a great blessing for flower farmers in the future and neglected flower traders across the country will benefit from it," he added.

Gazi Liakot Ali, owner of Laboni Nursery in Jessore, said, "Farmers at the marginal level would also benefit from the initiative. The market will help quality flowers reach customers in a fresh condition."

The country's flower business entered the export market by sending flowers to Saudi Arabia before Eid-ul-Fitr. However, businesses there objected to accepting the flowers due to problems in processing.

Earlier, authorities in Australia declined to receive flowers sent from Bangladesh on a trial basis citing problems in packaging and processing.

 

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What the first underground metro rail in Bangladesh will offer​

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Bangladesh's first underground metro rail, known as Mass Rapid Transit Line-1 or MRT-1, is scheduled to be completed in December 2026, according to MAN Siddique, managing director of Dhaka Mass Transit Company Ltd (DMTCL).

At a monthly virtual press briefing today, he revealed the features MRT-1 will have:

1.The 31.24 km line will have two parts -- around 19.87 km from Dhaka airport to Kamalapur railway station with 16.4 km underground and around 11.36 km elevated from Notun Bazar to Purbachal.

2. It would have 19 stations -- 12 underground and rest elevated.

3. 25 trains would be operated daily on the line.

4. It would take only 24 minutes and 30 seconds to go from Dhaka airport to Kamalapur, 20 minutes and 35 seconds from Natun Bazar to Purbachal, and 40 minutes from Kamalapur to Purbachal.

5. A passenger will be able to catch a train every 2 and a half minutes on the Dhaka airport-Kamalapur route, while wait time between trains on Natun Bazar-Purbachal route would be 4 minutes and 35 seconds.

6. Trains will be operated at 90 kmph on the Dhaka airport-Kamalapur route, and 100 kmph on Natun Bazar-Purbachal route.

7. Each train will have eight coaches and will be able to carry 3,008 passengers.

8. MRT Line-1 will be able to carry 8 lakh passengers daily.

 

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Walton receives trademark certificate in automobile production & marketing​

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Walton Hi-Tech Industries Limited received trademark certificate as a Bangladeshi automobile manufacturing and marketing company. In Class-12 category, the Department of Patents, Designs and Trademarks (DPDT) under the Ministry of Industry awarded the trademark certificate to Walton.

The trademark certificate was handed over to Walton Hi-Tech Industries’ Managing Director at a function held at the Officers’ Club in the capital on Thursday (June 17, 2021).

On the occasion of ‘Mujib Year’ as well as ‘World Intellection Property Day’, the DPDT organized the programme titled ‘Intellectual Property in Realizing the Dream of the Father of the Nation’.

Industries Minister Nurul Majid Mahmud Humayun attended the function as the chief guest while State Minister for Industries Kamal Ahmed Majumder was special guest.

Industries Secretary Zakia Sultana presided over the event. Among others, Industries Ministry’s Additional Secretaries Lutfun Nahar Begum and Sanowar Hossain, DPDT’s Registrar Md Abdus Sattar and Deputy Registrar Obaidur Rahman also spoke on the programme.

Walton Hi-Tech’s Managing Director Engineer Golam Murshed received the trademark certificate from the chief guest. Walton’s Executive Directors Sharif Harunur Rashid and Zahidul Islam were also present.

By receiving the trademark registration certificate Walton can use its brand name and logo in producing and marketing motorcycles, road vehicles such as passenger cars, trucks, bus trailers, tractors, vans, sports cars, omnibuses, trawlers, yachts, parts, engines, bodies, wheels, air and boat, bicycles, electric bicycles, etc.

At the function, Engineer Golam Murshed said, “The DPDT under the Ministry of Industries recognized Walton, and thus today it is a pioneer brand of Bangladesh. Walton now secured the top position with more than 75 percent share in the local refrigerator market. Walton products are being exported to more than 40 countries. Besides, Walton has taken initiative to make the best use of the country's talents. Walton is working in a joint venture with universities to create research opportunities for the country's talented engineers. Walton will be a laboratory for domestic engineers. This will stop the brain drain.”

The Industries’ Minister and the State Minister expressed satisfaction over the various steps taken by Walton for the development of local industries by utilizing the talents of the country. They wished and thanked the Walton authorities for those initiatives.

 

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Bangladesh has joined two other countries to lead the global cotton trade recovery as the demand for the commodity has risen sharply thanks to buoyant apparel shipments, according to the United States Department of Agriculture (USDA).

"Record global trade is boosted, led by robust demand in China, Bangladesh, and Turkey," the USDA said in its June report.
Cotton exports are up for the three largest exporters -- India, Brazil, and the United States. The US forecast has higher exports while stocks are projected at their lowest in four years. The US season-average farm price has lowered by one cent to 67 cents per pound, the USDA said in its report on cotton for 2020-21. For 2021-22, the June forecast shows higher trade and consumption with lower production and stocks.

A lower consumption outlook for India is more than offset by the higher-than-expected demand in China, Bangladesh, and Turkey, driving higher imports for these countries, said the USDA. The recent import growth of cotton in Bangladesh resulted from the skyrocketing demand among local millers, spinners, traders and importers. For instance, the export of yarn in the local markets is deemed to have grown by 163 per cent year-on-year between April and June this year, data from the Bangladesh Textile Mills Association (BTMA) showed.

This is a result of higher demand from garment exporters, and for resumption of the full use of capacities of mills by spinners and weavers, it said. In the first 11 months of fiscal 2020-21, the country earned $28.57 billion from garment exports, registering 11.1 per cent year-on-year growth, according to data from the Export Promotion Bureau. Knitwear shipments fetched $15.36 billion, and woven garments brought home $13.19 billion, clocking 20.55 per cent and 1.80 per cent year-on-year growth, respectively. The export data shows that the Bangladeshi garment sector is recovering fast with the rise in demand in the western world.

A significant development was the return of woven shipments to the positive territory last month after declining for a year. The demand for woven items had fallen in the western world as formal events were suspended because of the lockdowns and fears over contracting Covid-19. Knitwear items maintained 12 per cent growth over the last year because of an increase in demand for more extended stays of people at home.

"The recovery trend is good, and it will not be short-term this time," said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

However, it will take long to recoup the industry's losses last year because of the fallouts of the Covid-19, he said.

"We have been receiving a handful of work orders. There has been the reinstatement of previous orders. But many factories are running at losses," Hassan said.

Last year, international clothing retailers and brands either suspended or cancelled work orders worth $3.18 billion, of which 90 per cent have been reinstated so far. Hassan said the retailers and brands had been paying up, but there were many who had gone bankrupt and were still delaying payment. The volume of merchandise trade was down 15.5 per cent year-on-year in the second quarter of 2020 when lockdowns in many countries were in full effect. But by the fourth quarter, trade had surpassed the level of the same period in 2019, said the World Trade Organisation on May 28.

On the global cotton trade, the USDA said China's 2020-21 imports were forecast at a seven-year high, driven by the highest projected consumption in three years, robust state reserve imports, and attractive prices for imported cotton relative to domestic supplies. Imports are expected to support China's record year-over-year rise in consumption. China's 2020-21 consumption is expected to recover from the lowest level in 16 years to surpass the previous year by 7 million bales, accounting for half of the gain in global use. Currently, spinners' spot margins are roughly 30 per cent higher compared with that of the previous year due to the robust demand for cotton yarn and significantly lower yarn stocks, said the USDA.

Since Bangladesh is not a major cotton-producing nation, 99 per cent of the requirement for the raw material is met through imports. Traders, importers and millers may import 8.5 million bales of cotton this year, spending $3 billion this year, said the BTMA. Last year, cotton imports fell to 7.5 million bales as production came to a halt in many mills after the government had imposed nationwide restrictions to tame the coronavirus pandemic. (One bale equals 480 pounds.)

 

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Govt implements $100 million project to diversify exports: commerce minister​

Commerce Minister Tipu Munshi today said the government is implementing a project of $100 million in collaboration with the World Bank to increase the number of export products.

The project -- Export Competitiveness for Jobs (ECFORJ) -- will also help to make the workers skilled and support infrastructural and technological capacity building, the minister said.

More than 90,000 additional jobs are likely to be created after when the project will be completed by 2023, he said while addressing the inauguration ceremony of the 15th Bangladesh International Plastics, Printing and Packaging Industry Fair (IPF) as the chief guest.

Bangladesh Plastic Goods and Manufacturers and Exporters Association (BPGMEA) and Yorkers Trade and Marketing Service Company, jointly organised the programme virtually.

The minister said the government has emphasized export diversification and the plastic sector is being considered as the potential sector for export development and given the highest priority in the export policy.

"The plastics industry has already recognised as a trusted sector and we are hoping that the sector may take the lead on export earnings," he said.

Tipu Munshi said to meet the trade challenges after LDC graduation, the government is trying to take advantage of trade by signing trade agreements with different countries like PTA or FTA.

https://www.thedailystar.net/busine...t-diversify-exports-commerce-minister-2113933
 

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The country's largest rooftop solar power project with a cumulative capacity of 40 megawatts (MW) is being commissioned at the Korean Export Processing Zone (KEPZ) in Chattogram – owned by Korean global business conglomerate Youngone.

The project costing an estimated $40 million will be executed in three phases and will cover all the buildings in the EPZ, said the KEPZ authorities.

In the first phase, a 16MW solar photovoltaic (PV) power plant – which itself is the largest ever rooftop solar PV system in the country till date – has been installed at the expense of $16 million and is slated for inauguration by Energy Minister Nasrul Hamid today.

Work on a 4.3MW system that involves a cost of $4.3 million is expected to be complete by October this year, in the second phase.

Another 20MW system – to be set up as an Independent Power Plant (IPP) within a 12-month timeframe in phase-3 of the project – awaits approval from the government, according to officials of KEPZ Corporation.

The power plant will be connected to the national grid and will be eligible for exporting excess power to the grid under a net metering system.

Nazma Binte Alamgir, general manager of Bangladesh Export Processing Zones Authority (BEPZA) told The Business Standard, "No other EPZ has such a large solar power plant with a capacity of as high as 16MW. We have some street lights at the EPZs. Nonetheless, we are encouraging industries to install individual solar power plants to reduce dependency on the national grid."

Sustainable and Renewable Energy Development Authority (SREDA) Chairman Mohammad Alauddin told TBS, "Most of the rooftop solar power plants in Bangladesh are below megawatts capacity. There is a 1MW solar power plant in the Habiganj district set up on the roof of a factory. KEPZ rooftop plant is the largest one in the country.

As the first company, South Korean firm Youngone Corporation set up a private EPZ in Bangladesh in 1996 under the Bangladesh Private EPZ Act and formed a company named "Korean EPZ Corporation (BD) Limited" to promote, develop and manage the EPZ.

At present, 34 world class factories are in operation producing footwear, apparel and textile products in the KEPZ. They have employed around 26,000 people so far.

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The EPZ is currently using 14MW power from the Bangladesh Power Development Board (BPDB). It has got approval for using another 14MW from the BPDB for its expanding industries.

In this situation, with a view to making the best use of the power generated by the rooftop solar plants, Youngone Corporation (BD) has signed an agreement with the BPDB for supplying its additional power to the national grid under a back-to-back system.

Speaking on the project, Colonel (retd) Md Shahjahan, managing director of KEPZ Corporation (BD) Limited, told The Business Standard, "We have one of the best solar power plants, as all the high-quality panels have been imported from Korea.

"It has taken around eight months to complete the first phase. KEPZ will not only harness the power of the sun to meet its increasing energy needs in a sustainable manner but also provide any surplus renewable energy to the national grid, demonstrating its commitment to social responsibilities."

Ismail Hossen, executive engineer (distribution department) in Patiya BPDB, Chattogram, said it was good news that an EPZ had entered the clean energy sector.

Regarding the use of the surplus solar power of the EPZ, he said, "The surplus energy of the EPZ will be added to our grid and we will adjust the accounts with them."

"As they have installed a 16MW plant, they will not use much from us. Using this energy, we can give new connections to 12,000-13,000 households if needed," added Ismail.

Bangladesh energy policy aims to increase the share of renewable energy to reach 10% by 2020 and the government has a plan to reach a capacity of 2,400MW by 2021 and 4,000MW by 2030.

Mohammad Hossain, Director General, Power Cell, Ministry of Power, Energy and Mineral Resources, said, "Bangladesh's energy policy aimed to increase the share of renewable energy to reach 10% by 2020 but we achieved only 3.5%. We are working on it. The government is taking many initiatives to increase the share of renewable energy. "

Barren land turned into eco-friendly EPZ

Many of us are no strangers to the economic zones in Bangladesh.

When we think of an economic zone – an area designated for industries – in the country, the image that comes to our mind is of large buildings, heavy industries, and crowded places.

But, the Korean EPZ has changed this preset notion – not for industries but for the greenery, biodiversity and man-made reservoirs it is surrounded with.

The first private EPZ in the country, the KEPZ is located on 2,492 acres of land in Anwara and Karnaphuli upazilas of Chattogram.

The area was once a hilly barren land. But, the land has now turned into a green industrial zone, as 52% of the total area is covered with some 2.4 million trees of 400 species.

The Department of Environment (DoE), on 23 November 2009, gave the environment clearance to the EPZ authorities on the condition that 52% (1,295 acres) of the total project area will be preserved for greenery and the remaining 48% (1,196 acres) will be used for industrial and other infrastructure. Of the 1196 acres land, around 359 acres (30%) is kept for roads and other ancillaries and the remaining 837 acres of land are available for factories.

Md Shahjahan of the KEPZ Corporation, said, "Since its inception, we have been trying to make this EPZ eco-friendly. The project's key features are greenery and water bodies under Blue & Green initiative, green factory buildings, and clean energy.

"We have made all the buildings as eco-friendly green buildings, planted 2.4 million trees, created 25 water bodies which hold up to 500 million gallons of water being a single largest water harvesting project in the private sector of the country. Now, we are having 40 MW of solar energy projects. These have made the EPZ truly environment friendly not only in the country but also in the region."

Local people also praise the EPZ authorities for adding greenery to the area.

Mohammad Ershad, a local resident, told TBS that many people now come to see the area every day.

Employment and investment

On 2 October 2011, Karnaphuli Shoes Industries Ltd started operation as the first factory at Korean EPZ.

The EPZ has so far completed 40 state-of-the-art green factories with a cumulative floor space of over 65 lakh square feet.

So far, Youngone Corporation has invested $300 million on infrastructure development in the KEPZ. The company hopes the EPZ will attract foreign direct investment (FDI) worth $1 billion.

KEPZ Corporation Managing Director Md Shahjahan said, "Once the EPZ is completed, it will generate direct employment opportunities for around 1,00,000 people."

Around 95% of the local people are currently employed in the EPZ, he added.

Mohammad Ershad said, "The EPZ has changed the life of the locals. Many people, especially women, are working here, which has helped their families become financially strong."

The country's second private hi-tech park is also being built at the KEPZ. Youngone Corporation will invest $200 million for its sister concern "Tekvision (BD) Limited" here. The company will produce all kinds of software for industrial digitalisation, data entry and outsourcing. Among other buildings, a 41-storied building is also planned to be built to commemorate the great occasion of Bangladesh reaching the level of a developed nation in the year 2041, said the KEPZ authorities.

More than 200 Korean companies are currently operating in Bangladesh, contributing to the economic development of the two countries. The volume of bilateral trade has reached around $1.6 billion.

 

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PHP Float Glass Industries, a concern of PHP Family, has started manufacturing reflective glass for the first time with plans to export it on meeting local demand.

Reflective glass is a type of standard glass that has a thin layer of metallic or metallic oxide coating. This reflective coating is applied during the float process to enhance the amount of heat reflected by the glass.

Using reflective glass on the exterior of a building allows natural light inside while reflecting a portion of solar radiation, which limits heat penetration and thereby the need for air conditioning, making it energy efficient.

Climate change is raising average temperatures in Bangladesh, for which yearly local demand for reflective glass has increased to around 15,000 tonnes, all met with imports.

Set up with an investment of Tk 300 crore at Mirsarai in Chattogram, the PHP manufacturing unit has a capacity to produce 150 tonnes of reflective glass per day making use of Japanese and Chinese technology.

"We started commercial production of reflective glass last week after successful trial production," said Mohammed Amir Hossain, managing director, PHP Float Glass Industries.

He said the raw material they were using was sand of the Feni river, meaning it was wholly local. A sand washing plant has also been set up in Sitakunda.

Initially, sand was decided to be imported from Japan but the company said to have found out that the Feni river's sand met their production requirements.

According to Hossain, they were the first to produce float glass in Bangladesh in 2005, helping to cut down imports.

Float glass is a sheet of glass made by floating molten glass on a bed of molten metal, typically tin, although lead and other various low-melting-point alloys were used in the past. This method gives the sheet uniform thickness and very flat surfaces.

Modern windows are made from float glass.

PHP manufactures 150 tonnes of float glass a month in 10 colours, which it says to be doing away with the country's need to import Tk 50 crore of float glass per month.


Installiation of railway slab on Padma bridge is complete. Work to install gas pipeline has been initiated.

 

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Construction of Karnaphuli tunnel is 69% complete and expected to end by December, 2022.

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Details in Bengali:-

https://www.prothomalo.com/photo/এগিয়ে-যাচ্ছে-টানেল?fbclid=IwAR3xmll-I8H3cwZomnmknopvM0yM6L4wc8PM7l1sPwtqi4XqNvvjmkTuxhI

https://www.prothomalo.com/bangladesh/বাধা-কাটিয়ে-পুরোদমে-কাজ
 

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GPH Ispat begins commercial production in its Tk 2,390 crore plant to produce MS billet and rod today, which fuelled the company's share price to instantly see a 2.47 per cent rise in the stock market.

The price of the Chattogram-based steel maker's stock rose to Tk 37.40 at the Dhaka Stock Exchange (DSE) today when it informed investors that the company started commercial production in its newly expanded plant after its successful commissioning.

The plant has the capacity to produce 8.4 lakh tonnes of MS billet and 6.4 lakh tonnes of MS rod and medium section products such as steel beam, angle, channel and flat bar.

"The company has to wait for a certain period of time for the full fledge production to yield the said capacity," according to the technicians who were part of the commissioning of the plant.

The commissioning was done with the help of local technicians and with the online support of the technology supplier Primetal Technologies Austria GmbH, according to a disclosure posted on the DSE website.

 

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Construction of new 24 kilometers road in Khagrachari.


Progress of third Shitalakshya bridge.


Jackfruits from Bangladesh are now on sale in the markets of Germany.

Lebensmittelmarkt in Berlin imported the fruit recently from Bangladesh for the first time.

Globepac Foods and Beverage, a Bangladeshi company, has the credit of exporting the national fruit of Bangladesh to Germany, according to a press release.

Lebensmittelmarket, however, has imported mangoes from Bangladesh before as well.

Shams Uddin Mohammad Sajib, director of the Lebensmittelmarket, said: “We started direct trade with Bangladesh through the import of mangoes and jackfruits.”

No Berlin trader ever imported fruits or vegetables directly from Bangladesh before, he also said.

“There has already been a huge response of Bangladeshi fruits in German markets and almost all the mangoes have been sold on the first day,” Sajib added.

Md Saiful Islam, commercial counselor of Bangladesh Mission in Berlin, said: “Our main goal is to increase export in the European market. We have already jointly organized an online special awareness workshop on Global Gap Certificates in collaboration with the German Agro Business Alliance, were about 40 businessmen from Bangladesh participated.”

Speakers at the workshop identified that the main conditions for entering the European market are product quality and certification, he mentioned.

He hoped that Bangladeshi traders will be able to capture the European market by fulfilling all the conditions.

 
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Construction of Karnaphuli tunnel is 69% complete and expected to end by December, 2022.

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Details in Bengali:-

https://www.prothomalo.com/photo/এগিয়ে-যাচ্ছে-টানেল?fbclid=IwAR3xmll-I8H3cwZomnmknopvM0yM6L4wc8PM7l1sPwtqi4XqNvvjmkTuxhI

https://www.prothomalo.com/bangladesh/বাধা-কাটিয়ে-পুরোদমে-কাজ

Video in Bengali.

 

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The video report is in Bengali.

The pharmaceutical sector in Bangladesh is one of the most prominent sectors in Bangladesh’s industry. This sector is currently capable of fulfilling 98% demand of the entire country. Pharmaceutical companies of the country also export drugs made in Bangladesh in over 147 countries worldwide. Beximco, Square, Reneta, Opsonin are a few of the most prominent manufacturers in the country right now. In our today’s video, we will discuss, the growing pharmaceutical sector of Bangladesh.
 

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Wendy Werner

Published at 12:12 am June 25th, 2021

For a person, turning 50 can be a time for reflection — a point to look back on achievements and an opportunity to set goals for the future.

In marking its 50 years, Bangladesh should take pride in being one of the biggest development success stories of recent decades.

Now the country aspires to graduate from the United Nation’s least developed country list and transform into an upper middle-income economy.

Is the transition feasible? Certainly.

But only a handful of countries in a similar position have managed to achieve such success in the past 50 years.

Those countries too were not facing the scourge of Covid-19, which has hit Bangladesh hard, from impacts on lives and livelihoods to the main source of foreign exchange through reduced exports of the ready-made garment (RMG) industry.

In the latest report by IFC and the World Bank, the Bangladesh Country Private Sector Diagnostic (CPSD), we lay out the case that Bangladesh is now at a pivotal stage of its development journey.

The road ahead

Despite being among the fastest growing economies in South Asia, moving onto the next stage of development will require a new round of reforms to strengthen and modernize the private sector so Bangladesh’s economy can expand and create quality jobs at scale for a growing youth population.

More than 40 million Bangladeshis still live below the national poverty line today, and around 2.5 million jobs need to be created per year to employ youth entering the labor force.

In addition, massive investments are required to bring urban, transport and energy infrastructure to the level of upper middle-income countries, while addressing ever-growing climate risks, which is high on the government’s agenda.

The government of Bangladesh’s own Eighth Five Year Plan (July 2020 – June 2025) sets a target of 8.5% GDP growth by FY25.

To achieve this, 75% of the total investment needs to be generated from the private sector.

This cannot be achieved without reforms.


Areas for reform

Major reforms are needed to enable the private sector to perform efficiently.

The need for reforms will become even more relevant in the post–Covid-19 recovery phase when scarce public resources are likely to be prioritized in the social sectors and the structural shifts within the garments industry will accelerate towards automation and reshoring.

Experiences from East Asia’s successful industrializers, including the Republic of Korea, point to the importance of structural reforms to kick-start the stage of the development path that Bangladesh is now entering.

Three priority areas should be part of the reform agenda – creating a favorable trade and investment environment for domestic and foreign investors, modernizing and expanding the financial sector and removing infrastructure impediments.

On the trade policy front, removing anti-export bias is a critical priority. This can be done by reducing import tariffs, making export incentives more broad-based, and modernizing customs operations.

Domestic producers — protected from international competition by high tariffs — lack incentives to reduce costs.

It is important for Bangladesh to develop a more stable, efficient, and inclusive financial sector that offers competitively priced financing with the means to support the short-term, long-term, and equity capital needs of the private sector.

Small and medium-sized enterprises, which employ 20% of the adult population, need easier access to finance.

Bangladesh trails most of its regional peers and its competitors in East Asia on the World Economic Forum’s Global Competitiveness Index (2018).

Logistics costs add anywhere between 5% and 48% to the production.

Bangladesh will need better infrastructure if it wants to increase competitiveness and diversify into higher-value products with more complex logistics requirements.

Private sector investments

Sustainable growth cannot be achieved without the private sector. Export diversification beyond ready-made garments, and the development of upstream and downstream industries can help offset job losses resulting from automation, restructuring, and Covid-19 impacts in global RMG value chains.

Bangladesh could aim to move upmarket and develop inter-industry linkages in the RMG sector by leveraging existing capacity and introducing modern technologies. Large opportunities exist in footwear, leather, and electronics, which could leverage the same capabilities as RMG.

The country’s banking sector is one of the most attractive globally — but banks need a stronger capital base. Given the large deposit base that banks have, there is huge potential for efficiency gains if operational costs can be reduced. The large number of non-performing loans (NPLs) must be better managed by individual banks, and quicker resolution of bad debts is needed, as has been done in other Asian markets.

Bangladesh needs three or four well-functioning modern ports, greater use of multimodal transport, particularly waterways, and a more efficient logistics industry. Greater private participation will help increase investment and bring required efficiencies and innovation in this sector.

In agriculture, there is large, untapped potential to generate higher-value addition and exports to meet growing domestic demand for food that is more nutritious and create jobs.

Moving to modern farming practices, developing competitive agribusiness value chains and robust agri-logistics networks will boost productivity and scale up the production of high-value-added products such as horticulture, animal protein, dairy, as well as aquaculture, where Bangladesh has a strong comparative advantage.

Investments in health in the Covid-19 era

And at a time of Covid-19 impacts, we should not forget the health sector. At just three percent of GDP, health financing in Bangladesh is low compared to countries at a similar level of development. Government expenditure on health care, less than one percent of GDP, is also one of the lowest in the world.

The health sector is one important area where the public-private partnership (PPP) model could play a prominent role, particularly in diagnostic, specialized treatment, and dealing with medical waste.

Further development of the pharmaceuticals sector too, including production of biosimilars, could signify the industry’s increasing sophistication and enable more supply and exports of affordable quality medicines.

The post Covid-19 recovery will require a reimagining of Bangladesh’s current development model. The reform agenda is now more important than ever. So too is the recognition that the private sector holds the key to sustaining development success — and the opportunity of making “Golden Bengal” a reality for all the people of Bangladesh.

The Bangladesh Country Private Sector Diagnostic (CPSD) report can be downloaded here.

The author is IFC country manager for Bangladesh, Bhutan and Nepal

 

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After repeated delays in starting the main work of Khan Jahan Ali Airport in Rampal upazila of Bagerhat, the government has dropped the project from its priority list.

It is rather focusing on the extension of Jashore Airport instead.

In mid-2016, the government had included the airport on the list of fast-track projects for its faster implementation.

But amid the Covid-19 pandemic, coupled with repeated procrastination in starting the construction of the airport, the authorities concerned now say that they do not consider it to be a priority any longer.

Civil Aviation Authority of Bangladesh (CAAB) chief Air Vice Marshal M Mafidur Rahman has said Rampal airport is not currently on the list of development projects implemented by the government on a priority basis.

“However, once the Padma Bridge opens to traffic, there will be no alternative to constructing the airport. We’re now working on the extension of Jashore Airport due to growing demand in that region,” he said.

The CAAB chief in October last year had told Dhaka Tribune that the main work of the much-hyped project would begin soon.

Sources at the Civil Aviation and Tourism Ministry, too, attested to the project being excluded from the priority list, saying that the government had lost interest in the project.

After being initiated under the Public-Private Partnership (PPP) model and government fund, the project drew the attention of two, Indian and Korean, construction companies, they said.

Of them, the Indian firm was keen to construct the project—but ever since the pandemic unfolded, both companies started showing their reluctance about the project.

All the progress that the project has seen so far is the acquisition of the land required and the construction of a boundary wall, for which one-third of the total allocation has been spent till now.

“So far, we have received funding for land acquisition only. Construction of the airport is unlikely to begin until new funding is confirmed,” a CAAB official told the newspaper, requesting anonymity.

The government initially acquired 102 acres of land to build the airport on a “short take-off landing” system at Foyla near Rampal in 1996 following a demand of the people of the southern region.

However, the construction of the airport remained dormant for a long time for reasons unknown. Returning to power in 2009, the Awami League government resumed its construction.

In 2011, Prime Minister Sheikh Hasina held out an assurance of constructing the airport as a full-fledged one to be named as “Khan Jahan Ali Airport” in response to a demand by local businessmen and people of the area.

In 2015, the Executive Committee of the National Economic Council (Ecnec) approved the airport project at an estimated cost of about Tk544 crore. Of the amount, the government would about Tk490 crore while the CAAB would come up with Tk54 crore.

After the Ecnec’s approval, the district administration began work on acquiring 529.85 acres of land afresh for the project. After acquiring the land in Bagerhat, the district administration handed it over to the CAAB on August 17, 2018.

Since then, local businessmen have kept on alleging there has been no significant progress in the work of the project.

What is the airport for?

Once constructed, the airport will play a vital role in establishing fast and uninterrupted communications with the Mongla Export Processing Zone (EPZ), Mongla Economic Zone, Mongla Port and Rampal power plant.

It will also contribute to the development of the country's tourism sector as tourists will find it easier to visit the mangrove forest and other places of interest, such as the Shat Gombuj Masjid in Bagerhat.

The airport will also facilitate sending and distributing relief materials in case of any natural calamities, the proposal adds.

Khulna has never had an airport. Its nearest airport is in Jessore, some 70km away and around two hours' journey from the city.

 

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SPS Agrotech Limited, an Indo-Bangla joint venture company, is going to establish a rice bran oil manufacturing industry in Ishwardi EPZ with an investment of US$ 6.69 million.

This agro-based product is a new addition to the diversified items manufactured in EPZs and going to be the first rice bran oil industry in EPZs, said a press release.

The company will produce 150,000 metric tonnes of rice bran oil annually. They will create employment opportunities for 337 Bangladeshi nationals.

Bangladesh Export Processing Zones Authority (BEPZA) and SPS Agrotech Limited signed an agreement to this effect today at BEPZA Complex in the city.

Member (Finance & Investment Promotion-Additional Charge) of BEPZA Nafisa Banu and Managing Director of SPS Agrotech Ltd. Chitta Majumder signed the agreement on behalf of their respective sides.

BEPZA Executive Chairman Major General Md Nazrul Islam witnessed the signing ceremony.

Mentionable, the EPZs are strengthening the foundation of the country’s economy by reducing the risk of monopolistic dependence on the garment industry through diversifying products.

Recently, Prime Minister Sheikh Hasina urged to enrich the country’s export basket by establishing food and agro processing industries. Responding to the call of the Prime Minister, BEPZA is encouraging investment of this sector in the EPZs and BEPZA Economic Zone.

Among others, Secretary of BEPZA Md Zakir Hossain Chowdhury, General Manager (Investment Promotion) Md Tanvir Hossain and General Manager (Enterprise Services) Md Khorshid Alam were present at the signing ceremony.

 

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