Bangladesh Economy: News & Updates

[eastwatch]

Following is a news from the daily New Age on 15 February.

EW

BANGLADESH EMERGING IT OUTSOURCING DESTINATION:survey
Kazi Azizul Islam

A leading global auditing and business advisory group has listed Bangladesh as one of the emerging Asian destinations for sourcing software, information technology-enabled services and business process outsourcing.

The Amsterdam-based KPMG in a survey report placed Bangladesh with Indonesia, Malaysia, Pakistan, Philippines, Sri Lanka, Thailand and Vietnam, along with India on the list of emerging Asian IT services suppliers.

The survey report, Asia-Oceania Vision 2020: Enabling IT leadership through collaboration, was released on Friday.

The KPMG, which prepared the report in association with the Tokyo-based Asian-Oceanian Computing Industry Organisation, included Cambodia, Laos, Mongolia, Myanmar and Nepal in the list of potential suppliers.

The report said the Asia-Oceania would become the largest supplier of IT and business process outsourcing services to the world by 2020. The Asia-Oceania is set to account for 74.5 per cent of global IT services demand by 2020.

The report showed a comparison of age of people among 15 Asian countries to link prospect of IT services business.

It found that only 5.6 per cent of Bangladeshis are aged 65 and above. Such aging percentage is 5.6 in the Philippines, 6.5 in India, 13.8 in Thailand and 29.5 in Japan.

The report analysed that countries like Bangladesh which have a good pool of young people, should stay in the list of Asia IT leaders.

The report said huge IT enthusiastic young people and rapid acceptance of IT services in Bangladesh were advantages for the country to be an IT service exporting country.
Our report looks at the current growth and future prospects for the IT industry in surveyed countries over the years and current trends influencing the industry have been examined,・the KPMG said.

The report, however, warned that climate change, poverty and inequality, infrastructure deficits were bottlenecks to Bangladesh痴 growth and these impediments should be tackled to become one the leading IT services sources.

The Denmark ambassador to Bangladesh, Einer H Jensen, observed Bangladesh IT industry had a good start・on the global outsourcing market in recent times. Some Danish companies are working with around 20 Bangladeshi companies to develop and outsource software and IT-enabled services.

It [Bangladesh] could be a preferred destination for outsourcing in the near future,・he told New Age.

Citing a recent World Bank report, he said more then 8,000 Bangladeshi young software developers had found jobs in the industry in the past two years and nearly 1,000 of them were working in Denmark-Bangladesh IT joint ventures.

Industry sources said Bangladeshi IT industry had also developed business relation with clients in Japan and other parts in the world along.

Safquat Haider, a director of the Bangladesh Association of Software and Information Services, said the IT potentials of Bangladesh had increasingly been pointed out by industry monitors globally.

The IT industry is warming up for a breakthrough, as global clients are calling local companies increasingly and a significant local market is also being readied,・said Haider, whose IT company, CIPROCO develops telecommunication, geographic information system and Enterprise resource planning solutions for clients at home and abroad.

 

[eastwatch]

Here goes another IT news repoprted in the Daily New Age on Feb 15.

EW

IT INDUSTRY SET TO TAKE ON GLOBAL MARKET: industry people
Kazi Azizul Islam

Bangladesh software and information technology-enabled services industry is set to take off with some companies entering the world market and a significant portion of the local market getting readied, industry people said.

Industry output, however, remained insignificant in two decades and entrepreneurs said businesses were earning the capability to cater to clients at home and abroad.
The industry has come to a take-off stage now,・said Safquat Haider, a director of the Bangladesh Association of Software and Information Services.

He also referred to BASIS Softexpo 2010, which ended on Sunday, where several dozen Bangladeshi technology enterprises put on display the latest versions of their programs and IT enabled services.

Many local software houses are now successfully developing world-standard financial solutions and business applications, Safquat said. There are not many such cases, but local companies have talented people to develop GIS and advanced ERP solutions and telecommunications software. Anisur Rahman Khan, senior marketing manager at the Leads Corporation, said a significant portion of the local market was getting readied and enterprises had also matured to offer world-standard solutions.

At least four local banks are running their core operation with solutions developed by the Leads Corporation, said Anisur, who has been in software marketing for more than decade and a half.

He said banking software developed in Bangladesh had a hard time fighting the software developed abroad, especially in India, although local solutions were cheaper, Anisur said. Bankers now have understood that local solutions are dependable. Bangladesh software and ITES export amounted to only $33 million or Tk 230 core in 2009. The domestic software market was estimated worth less than Tk 500 crore. Local solutions account for less than a half of the market.

Mannujan Nargis, director at the Rave Systems, said internet telephony or IP solutions such as switching, billing, byte server operation and mobile VoiP dialers developed in Bangladesh were selling well on the world market.

She said her organization had a presence on the European market and dominance on the Middle-East market with several IP operation management solutions.
One of our solutions is fighting a solution of global majors like Fringe of Israel,・said Nargis, who sees operation of her company office in Singapore.

Mashuk Rahman, managing director of the Skynet Digital Private Limited, told New Age about half a dozen Bangladeshi companies were catering to overseas clients of advanced image editing services.

Skynet's image editing service called PixArt Studios employ 45 Bangladeshi digital artists who work with critical Photoshop tools for colour correction, soft layer masking, and image etching and stitching.

It is just arty manipulations on photos which have tens of millions of dollar worth global market,・Mashuk said. India and the Philippines earns tens of million of dollars by sourcing image editing services to clients abroad. Annisul Huq, president of the Federation of Bangladesh Chambers of Commerce and Industry, feels Bangladesh software industry was warming up to take off.

Many global importers are still unaware that software and solutions are developed in Bangladesh,・Annisul said, adding that this is a major barrier for Bangladesh' significant presence on the European market worth several billion dollars.

Annisul owns a software development house, employing some 80 engineers, which serves foreign clients with enterprise resource planning and solutions. The government should spend on local software and the Intellectual Property Rights Act should be implemented, he said.

He also said the government should invite globally renowned software companies to set up production facilities in Bangladesh.

 

[idune]

Export earnings suffer negative growth in first half of current fiscal
Staff Correspondent

Exports earnings for the first half of the current fiscal year suffered minus 6.2 per cent growth year-on-year, and totalled at US$ 7.27 billion, Export Promotion Bureau reported on Sunday.

Exporters said that continuation of significant decline on the shipments of readymade garments in December pulled down export growth to minus curve. Shipments of readymade garments still ensure at least three/fourth the country’s entire export earnings.

The garment export earnings for July-December or the first half of the current fiscal amounted to $ 5.59 billion with a minus 7.5 per cent growth over the earnings of the same period of the previous fiscal.

According to the Export Promotion Bureau, readymade garment shipments, in terms of value, declined by 12 per cent year-on-year amounting $ 885 million in December.

The Bangladesh Garment Manufacturers and Exporters Association president Abdus Salam Murshedy said December exports earnings reports should open the eyes of the government on the state of the export industry.

‘With recession easing, there were increasing enquires from importers in the previous two or there months but local manufacturers are suffering from severe energy crisis,’ Salam said.

He sadly referred to dillydallies by the government in providing necessary support to the recession-weakened exporters in restoring the industry’s confidence.

Bangladesh Knitwear Manufacturers and Exporters Association president Fazlul Hoque said December export figures disappointed him and but it was not surprising at all.

‘Local exporters are losing competitiveness continuously,’ said Hoque. He argued that exporters in other competing countries were being able to feed importers with more discounts due to their infrastructural advantages and incentives provided by their governments.

Besides garments, the export promotion bureau report shows, all major export items suffered negative growth in the first six months of the current fiscal.

In terms of value, frozen food shipments declined 18 per cent to $ 221 million, finished leather 7 per cent to $ 98 million and footwear 2 per cent to $ 97 million. In the first six months of the current fiscal, export earnings by jute goods increased by 36 per cent to $ 191 million, raw jute 22 per cent to $ 96 million and bicycle 32 per cent to $ 52 million.

Business

 

[eastwatch]

South Asian Media Net

MASSIVE PLAN ON ROADS, BRIDGES UNVEILED
Thursday, February 18,2010

DHAKA: Prime Minister Sheikh Hasina in parliament yesterday rolled out her government's massive plans for construction of bridges, roads and railway lines to have an effective and sustainable communication network.

She said the government has approved a 20-year Road Master Plan and taken steps to attract investment in this sector.

Preparation for formulation of a coordinated transport policy is at the final stage, she said in a scripted reply to BNP lawmaker Harunur Rashid's query.

"Since assumption of office on January 6, 2009, the government has been working to build a pro-people, safe, cheap, multi-dimensional, environmentally friendly, sustainable, coordinated and efficient communication network," the premier said.

Hasina, also the leader of the House, said the government has taken a project involving Tk 2,383 crore to upgrade Dhaka-Chittagong highway to four lanes.

A work order has already been awarded to construct 192.3 kilometre roads for Tk 1,655 crore under the project.

The premier said initiatives are underway to find investors for construction of the second Dhaka-Chittagong four-lane highway under BOOT/BOT/PPP considering growing number of commercial and passenger transport.

"The communications ministry had also taken initiatives to upgrade national highways to four lanes under BOT/BOOT/PPP," she added.

The prime minister said the government has taken eight projects involving Tk 2, 229 crore to expand road links across the country under the Roads and Highways department. A total of Tk 210 crore was allocated for the current financial year to this effect.

Reconstruction of 48-km Dhaka bypass for Tk 52 crore is underway to ease traffic congestion in the capital. It will be opened to commuters soon, Hasina said.

She said the government has taken measures to introduce BRTC buses for schoolchildren in the city to reduce traffic jam.

"Dhaka Transport Coordination Board is conducting feasibility study for introducing bus rapid transit on Uttara-Sadarghat route," Hasina said. The government has decided to change DTCB to Dhaka Mass Transit Authority to make it effective.

Mentioning introduction of e-ticket on Mirpur-Motijheel route, the premier said it will be introduced on all city routes in phases. Hasina said her government has moved to procure 800 CNG-run buses in the capital.

"As part of a major move to reduce tailbacks in the capital, measures were taken to construct elevated expressway and metro rail. Pre-qualification notice was published in newspapers to select investors for constructing the expressway," the premier said.

She said the construction of 6.15 km Padma Bridge at Mawa for $2.4 billion will begin by September this year. Besides, the government has taken initiative to construct second Padma multipurpose bridge at Paturia-Goalanda point.

Hasina said efforts have been made to construct 1,550-metre Bikutia Bridge for easy transport of goods between Mongla port and Barisal and also an eight-kilometre link road from Chasara to Muktarpur in Munshiganj.

The premier said the government has approved 31 projects involving Tk 3,686 crore to complete construction of 51 bridges under the Roads and Highways department.

Besides, Eastern Bangladesh Bridge Improvement Project involving Tk 690.90 crore was approved to reconstruct 136 old bridges across the country.

"The government has made a move to construct Kalna bridge and improve roads on Benapole-Jessore-Narail-Vatiapara and Bogra-Natore routes under the Tk 1,700 crore Transport Corridor Improvement Project with the assistance of Asian Development Bank," Hasina said.

On expansion of railway network, she said the government made plans to set up railway tracks on Padma bridge to connect Tungipara, Jessore, and Barisal with Dhaka. It also plans to construct railway lines from Dohazari to Cox's Bazar via Ramu and from there to Gundum.

About remodelling and development of 26 railway stations including those in Dhaka, Sylhet and Rajshahi, she said agreements on seven projects involving Tk 458.24 crore were signed while those on two more projects involving Tk 210.63 crore will be inked soon.

She told parliament that sale of railway tickets and reservation of seats through cell phones will be introduced soon.

"The government has decided to ratify an agreement signed during the tenure of the last caretaker government for connecting Bangladesh with the Trans Asian Railway Network," the premier said.

On supply of pure water in the capital, she said a feasibility study was launched to set up a water treatment plant at Khilkhet to supply 50 crore litre of water a day from the Meghna River to reduce use of groundwater.

She said the layer of ground water in the capital is falling 2 to 3 metres for overuse of groundwater, posing risk of landslide and earthquake.

 

[ejaz007]

B’desh shares suffer biggest fall in a decade


DHAKA: The Dhaka Stock Exchange suffered its biggest fall in a decade on Monday after regulators placed restrictions on trading in the shares of a local mobile phone group.

The benchmark DSE General (DGEN) Index shed 137.95 or 2.39 percent to close at 5,622.99 — the biggest plunge since the index was introduced in November 2001, the bourse’s research chief Afzalur Rahman told AFP.

Grameenphone, also the country’s largest company in terms of revenue, lost nearly eight percent to close at 332.60 taka — its largest fall since it made its market debut in November last year.

Experts and regulators say a major correction in the Bangladeshi market is long overdue, with shares rising nearly 30 percent since January amid big investments from local private investors seeking quick profits. afp

Daily Times - Leading News Resource of Pakistan

 

[Al-zakir]

B’desh shares suffer biggest fall in a decade


DHAKA: The Dhaka Stock Exchange suffered its biggest fall in a decade on Monday after regulators placed restrictions on trading in the shares of a local mobile phone group.

The benchmark DSE General (DGEN) Index shed 137.95 or 2.39 percent to close at 5,622.99 — the biggest plunge since the index was introduced in November 2001, the bourse’s research chief Afzalur Rahman told AFP.

Grameenphone, also the country’s largest company in terms of revenue, lost nearly eight percent to close at 332.60 taka — its largest fall since it made its market debut in November last year.

Experts and regulators say a major correction in the Bangladeshi market is long overdue, with shares rising nearly 30 percent since January amid big investments from local private investors seeking quick profits. afp

Daily Times - Leading News Resource of Pakistan

Yes......

I am going to lose some serious dough...Should have sold it...::

 

[TopCat]

B’desh shares suffer biggest fall in a decade


DHAKA: The Dhaka Stock Exchange suffered its biggest fall in a decade on Monday after regulators placed restrictions on trading in the shares of a local mobile phone group.

The benchmark DSE General (DGEN) Index shed 137.95 or 2.39 percent to close at 5,622.99 — the biggest plunge since the index was introduced in November 2001, the bourse’s research chief Afzalur Rahman told AFP.

Grameenphone, also the country’s largest company in terms of revenue, lost nearly eight percent to close at 332.60 taka — its largest fall since it made its market debut in November last year.

Experts and regulators say a major correction in the Bangladeshi market is long overdue, with shares rising nearly 30 percent since January amid big investments from local private investors seeking quick profits. afp

Daily Times - Leading News Resource of Pakistan

Market is overheated. Regulators needed to pull the string little. But these never worked before and will not in the future. Market going to keep its upward trend until the near future.
I am glad I am not in the market...

 

[Skies]

All UPs going under fibre-optic network: PM

The prime minister, Sheikh Hasina, has unveiled an ambitious digitisation plan for building Bangladesh as a country fully furnished with modern telecommunications systems for faster delivery of services to the people ensuring good governance from grassroots to central levels.
Under the mega-scheme ‘Digital Bangladesh: Plan of Connecting People’, all Union Parishads will be linked with fibre-optic network, upazilas will get Community e-Centre, and hospitals and schools get computer, web-cam and internet.
Already, 100 union parishads have been selected for giving fibre-optic cable connections while another 1,000 unions will be bound with the cross-country cable network within the next one year.
Addressing the inaugural ceremony of Concept Paper on ‘Digital Bangladesh: Plan of Connecting People’ at a city hotel on Tuesday, the prime minister urged the country’s scientists, technological experts and engineers to turn Bangladesh self-sufficient in using technologies rather than depending on foreign countries and agencies.
Pushing a button of a computer, the prime minister opened the technical part of the agenda, aimed at breaking the digital divide between the advanced world and a developing country like Bangladesh.
To introduce modern and faster communications network in the sleepy rural Bangladesh, she said, the government will bring offices of all union parishads under fibre-optic network as part of the recipe for boarding the entire country on the information superhighway.
The prime minister further disclosed that Community e-Centre will be set up in all upazilas of the country. Already, five upazilas have got Community e-Centre and 128 upazilas computer labs.
She said in line with government’s commitment to provide quality health services to the mass people, the government will give computers, web-cam and internet facilities to all hospitals of the country.
Besides, e-centre for rural community will be set up at 8,500 post offices of the country to ensure proper management of the postal services.
Moreover, the government is making arrangement to provide videoconferencing facility between Prime Minister’s Office and the cabinet division, deputy commissioners of 64 districts and 7 divisional headquarters.
The government is also constructing necessary infrastructures to set up Hi-tech Park in Gazipur and install country’s own satellite to strengthen local telecommunications system, she informed her audience.
The prime minister said it was not possible to implement all the development programmes by the government alone and urged all concerned to help the government turn Bangladesh into a digital, modern country by 2021.
‘I strongly hope joint ventures under public-private partnerships will fulfil our dream of building a digital Bangladesh,’ she said.
Hasina mentioned that the ICT Policy 2009 had already been approved and the ICT Act 2009 formulated, which will expedite the country’s ICT industry’s growth and joint efforts of public and private sectors.
The prime minister said some 1,500 laptops have been distributed to various educational institutions while computer labs equipped with internet facilities will be set up gradually at every educational institution.
‘Our children are working successfully in various international institutions. If they are given necessary facilities, they will make tremendous contribution to the effort for turning Bangladesh into a technology-based modern country,’ she told the function.
Hasina further said the government was going to implement national service programme in line with its election pledge to give job to one educated member of every family in the country.
She said digital Bangladesh means mobilising everyone of the country in the national development process and for this local government has to be strengthened.
Hasina said upazila elections have already been held and elections in city corporations, municipalities and union parishads will be held soon.
Posts and telecommunications ministry arranged the function with its minister Rajiuddin Ahmed Raju in the chair. International Telecommunications Union secretary general Hamadoun I Toure addressed the function as special guest.
Prime minister’s son, eminent computer scientist Sajeeb Wazed Joy, presented the theme paper of the function presenting and suggesting the priority tasks to turn Bangladesh into a true digital country.
Posts and telecommunications secretary Sunil Kanti Bose and BTRC chairman Zia Ahmed also addressed the function. A video documentary was also presented at the function sowing the dream Bangladesh of 2021—the year when the golden jubilee of national independence will be celebrated.

S: Front Page

Telecoms plan unveiled
Fibre-optic network to connect unions; hospitals, schools to get computers, net facilities

Prime Minister Sheikh Hasina yesterday unveiled an ambitious digitisation plan for building Bangladesh as a country fully furnished with modern telecommunications system for faster delivery of services to the people.

Under the mega-scheme 'Digital Bangladesh: Plan of Connecting People', all Union Parishads will be linked with fibre-optic network, upazilas will also get Community e-Centre, and hospitals and schools get computer, web-cam and internet.

Already, 100 Union Parishads have been selected for giving fibre-optic cable connections while another 1,000 unions will be bound with the cross-country cable network soon.

Addressing the inaugural ceremony of Concept Paper on 'Digital Bangladesh: Plan of Connecting People' at a city hotel, the PM urged the country's scientists, technological experts and engineers to turn Bangladesh self-sufficient in using technologies rather than depending on foreign countries and agencies.

Prime Minister's son, eminent computer scientist Sajeeb Wazed Joy, presented the theme paper of the function presenting and suggesting the priority tasks to turn Bangladesh into a true digital country.

Pushing a button of a computer, the premier opened the technical part of the agenda, aimed at breaking the digital divide between the advanced world and a developing country like Bangladesh.

Hasina disclosed that Community e-Centre will be set up in all upazilas of the country. Already, five upazilas have got Community e-Centre and 128 upazilas computer labs.

She said in line with government's commitment to provide quality health services to the mass people, the government will give computers, web-cam and internet facilities to all hospitals of the country.

Besides, e-centre for Rural Community will be set up at 8,500 post offices of the country to ensure proper management of the postal services.

Moreover, the government is making arrangement to provide videoconferencing facility between PM's office and the cabinet division, deputy commissioners of 64 districts and 7 divisional headquarters.

The government is also constructing necessary infrastructures to set up Hi-tech Park in Gazipur and install country's own satellite to strengthen local telecommunications system, she informed.

Hasina said it is not possible to implement all the development programmes by the government alone and urged all concerned to help the government turn Bangladesh into a digital, modern country by 2021.

“I strongly hope joint ventures under public-private partnerships will fulfil our dream of building a digital Bangladesh,” she said.

Hasina mentioned that the ICT Policy 2009 has already been approved and the ICT ACT 2009 formulated, which will expedite the country's ICT industry's growth and joint efforts of public and private sectors.

The PM said some 1,500 laptops have been distributed to various educational institutions while computer labs equipped with internet facilities will be set up gradually.

“Our children are working successfully in various international institutions. If they are given necessary facilities, they will make tremendous contribution to the effort for turning Bangladesh into a technology-based modern country,” she told.

Post and Telecommunications Ministry arranged the function with its Minister Rajiuddin Ahmed Raju in the chair. International Telecommunications Union (ITU) Secretary-General Dr Hamadoun I Toure addressed the function as special guest.

Post and Telecommunications Secretary Sunil Kanti Bose and BTRC Chairman Maj Gen (rtd) Zia Ahmed also addressed the function.

S: http://www.thedailystar.net/newDesign/news-details.php?nid=128470

 

[leonblack08]

Bangladesh seeks help from ITU to launch satellite
Bss, Dhaka

Bangladesh sought special assistance from International Telecommunication Union (ITU) for launching its own satellite to make telecommunication system effective in remote areas and during the natural disasters.

Post and Telecommu-nications Minister Raziuddin Ahmed Razu sought the assistance when visiting ITU Secretary General Dr Hamadoun I Toure made a courtesy call on him at the former's Secretariat office in the city.

Chief of ITU Asia Pacific region Youn Jo Kim, Post and Telecommunications Secretary Sunil Kanti Bose, Additional Secretary M Rafiqul Islam and BTRC Chairman Major General (retd) Zia Ahmed, Managing Director of BTCL ASM Khabiruzzaman and Managing Director of Teletalk Mujibur Rahman were present.

The minister also sought cooperation to stop uncontrolled cyber crime and combat illegal Voice over Internet Protocol (VOIP) and establishing Bangabandhu Telecom University.

Describing different steps in developing the telecommunications sector undertaken by the present government to make digital Bangladesh, the minister said the BTCL has taken massive programme for setting up optical fiber and digital exchanges at union, upazila and district levels to reach modern telecommunication facilities to the doorstep of the commoners.

Expressing satisfaction over the progress of Bangladesh's telecommunication sector, the ITU secretary general expressed hope that Bangladesh would be made a model country in the South Asia in the telecommunication sector.

Bangladesh seeks help from ITU to launch satellite

 

[Al-zakir]

Market is overheated. Regulators needed to pull the string little. But these never worked before and will not in the future. Market going to keep its upward trend until the near future.
I am glad I am not in the market...

Investing on stock is good way to make some money. I invested on GP early last year and now it's almost double..


Though sometime it can break you too.

 

[TopCat]

All UPs going under fibre-optic network: PM



S: Front Page

Telecoms plan unveiled
Fibre-optic network to connect unions; hospitals, schools to get computers, net facilities



S: Telecoms plan unveiled

My brother and other people in Bangla link made the presentation that Joy presented in that seminar. They even did not know they were making this for Joy and only came to know when they saw on the TV. What a country and what a buuullshit.

 

[Skies]

My brother and other people in Bangla link made the presentation that Joy presented in that seminar. They even did not know they were making this for Joy and only came to know when they saw on the TV. What a country and what a buuullshit.

Do you mean that Joy is better deceiver the other AL leaders?

BTW, our foreign mobile companies show off that they love BD and BD's historical achievements more then BD's people and they are earning huge money by their ads. You might notice that their ads based on our national achievements like Ekusey, Shadhinota showing off that they are very conscious about BD but actually in the mean time they are earning fake money from the young generation by some harmful packages. They are saying about the bravo demonstration of 30 Mins in 1952 but actually they are saying about their talktime package of 30 mins! Sadly, now a days, this is the easiest way to deceive with BD people by showing fake respect on BD's Ekusey, Shadhinota. But I can say about Walton company, they are doing well by showing real respect to BD but the Mobile companies are deceiver like AL.

 

[TopCat]

Do you mean that Joy is better deceiver the other AL leaders?

He tried to act like he brought all the ideas from his US scientific background. I know him very well as I spent one smester in the same University as him.

BTW, our foreign mobile companies show off that they love BD and BD's historical achievements more then BD's people and they are earning huge money by their ads. You might notice that their ads based on our national achievements like Ekusey, Shadhinota showing off that they are very conscious about BD but actually in the mean time they are earning fake money from the young generation by some harmful packages. They are saying about the bravo demonstration of 30 Mins in 1952 but actually they are saying about their talktime package of 30 mins! Sadly, now a days, this is the easiest way to deceive with BD people by showing fake respect on BD's Ekusey, Shadhinota. But I can say about Walton company, they are doing well by showing real respect to BD but the Mobile companies are deceiver like AL.

They are here for business and whatever makes money.

 

[Al-zakir]

Iranian co likely to set up car producing plant in BD: Dilip
'Made by D-8' car would cost Tk 0.6-0.7m





Sipa, an Iranian automobile manufacturer, is likely to build its new car producing plant in Bangladesh to meet domestic demand, Industries Minister Dilip Barua said Thursday.

"It will be really a good news, if a foreign company invests here solely or under joint venture to manufacture car for the country," he said.

If the plant is set up, a new car would cost Tk 0.6-0.7 million in the local market, and there might be no need of importing reconditioned cars, the minister also said.

The minister disclosed the news at a press briefing at his office after attending the first D-8 ministerial meeting on industries affairs.

The three-day ministerial meeting and the 5th meeting of a high-level technical group on industrial sector assistance was held in the Iranian capital Tehran from February 28 to March 2.

The minister led a two-member Bangladesh delegation there. The other team member was additional secretary of the Industries Ministry ABM Khorshed Alam.

The meeting decided to manufacture a common brand car for the D-8 countries, and Iran, Turkey and Malaysia were given nod to supply design.

"We will try to set up the plant in our country, and after meeting the D-8 countries' demand, the cars would be shipped to other countries," Barua added.

The countries have agreed to use 'made by D-8' logo for familiarising the products and to expand their market.

The minister also informed that Iran would form a fund to encourage internal investment among the member countries, and it would share out 15 million Euros in this regard.

The member countries exchanged views on bilateral interest in the meeting for identifying the areas of assistance in the industrial sector and exchanging technologies.

'Made by D-8' car would cost Tk 0.6-0.7m

 

[Skies]

^ we need different taste now.