Bangladesh
attracts global investment giants
Dhaka | May 03, 2005.
Dhaka, May 3 : Bangladesh has received investment proposals worth $12 billion
from at least 10 global companies, including India's Tata group, in the last year
and half.
Two
thirds of the total investment proposed came in the last nine months, The Financial
Express daily reported Tuesday, quoting Board of Investment (BoI) executive chairman
Mahmudur Rahman.
Members
of the Tata board of directors will arrive in Dhaka Sunday for preparatory meetings
leading to final negotiations on proposed power, fertiliser and steel plants.
Tata
has scaled up its investment proposal from $2 billion to $2.5 billion, the BoI
chief said.
On
the upward trend in investment from abroad, Rahman said: "There is a huge
breakthrough. Even strong critics of the government these days remain silent because
of the overall improvement in the country's investment climate."
On
the meeting with Tata officials, he said: "It will be a preparatory meeting
prior to the final negotiations scheduled end of May."
"Tata
aims at concluding the negotiations, signing the final agreements and holding
the ground-breaking ceremonies in December."
The
newspaper reported that two Malaysian giants have visited the country. While Malaysia
Metro wants to engage in real estate, P.K. Resources is interested in tourism
and infrastructure.
ORASCOM,
an Egyptian telecom company, has already taken over Sheba telecom and is operating
under the name Banglalink.
Singapore
Telecom is likely to join hands with Citycell shortly to expand its network. The
Dhabi group and the Kingdom group are the two giants from the Middle-East with
investment proposals in several areas.
The
Kingdom group owned by Saudi prince Alwaleed Bin Talal is interested in the hospitality
sector, such as hotels and tourism.
Talal
wants to buy Sonargaon Hotel, one of the two five-star hotels in Bangladesh.
US
firm Global Vulcan Energy Ltd may invest over $1 billion in the power and fertiliser
sectors. Some of its executives are on a visit here.
(IANS)
