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Foreign investors, buyers shying away from B’desh
Foreign investors, buyers shying away from Bdesh :: Financial Express :: Financial Newspaper of Bangladesh
Published : Wednesday, 20 March 2013
Monira Munni
The country's confrontational political situation is now taking its toll on investment and business negotiations with foreign buyers, especially in the export-oriented sectors, industry sources said.
They said the continuous 'hartals' (general strike) might lead investors, and foreign buyers of Bangladesh-made products, to shift their investments and orders respectively to other countries like Myanmar, Cambodia and Vietnam.
In recent times, a number of foreign investors and buyers have cancelled their visits to Dhaka expressing concern over the present volatile political situation, they said. Many of them already held meetings in Hong Kong and Bangkok, in place of Dhaka.
A delegation from Samsung of South Korea was scheduled to hold a meeting with the high officials of the Bangladesh Export Processing Zones Authority (BEPZA) Tuesday. But it was cancelled due to hartal.
"The meeting was cancelled because of the hartal," BEPZA Executive Chairman Maj Gen KM Mominur Rahman told the FE.
The delegation was supposed to hold discussions on issues like investments, the required area of land and employment generation, he added.
Earlier two years back, Samsung sought 500 plots in EPZs at Chittagong and outside Dhaka, the BEPZA official said. But the authority could not accommodate its request due to scarcity of land.
The company again showed its interest to talk to the Bangladeshi officials locating its possible site on land beside the Karnafuli EPZ, he said.
Experts said the Samsung investment could reshape Bangladesh's future as a new manufacturing hub for mobile phones, high-end electrical, electronic and home appliance products.
Bangladesh-Thai Chamber of Commerce and Industry President MA Momen said Thai investors, who have earlier shown interest in making investment in Bangladesh, expressed their concern over the on-going political violence.
"A large number of foreign buyers cancelled their visits to Dhaka. Many of them already have threatened to cancel shipments and orders," Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan said.
The over $20 billion readymade garment (RMG) industry is already undergoing a tough time because two major markets -- the European Union (EU) and the USA -- have been hit hard by recession, he said. During this time, such political unrest in Bangladesh is unacceptable in the interest of doing business, he regretted.
During the last two months, about 20 foreign buyers cancelled their visits to Bangladesh mainly due to hartals, he said.
"Buyers do not want to take any risk as such political activities disrupt production," Managing Director of Envoy Group Abdus Salam Murshedy said.
He said if this situation continues for long, it would seriously affect the country's exports.
Managing Director of Eastern Apparels Ltd Nasir Uddin Chowdhury said many buyers held meetings with local exporters outside the country like Hong Kong and Bangkok as they are afraid over the situation, now prevailing in the country.
March and April constitute the main booking season and a large number of buyers including the big retailers are expected to come to Dhaka for future negotiations and placing orders, he said. He said there is now less possibility of those buyers' coming here.
"The political instability is taking its toll on our future business," he added.
"Buyers might not stop orders fully but orders will definitely decline amid such an uncertain situation," former President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Fazlul Hoque said.
Buyers will think of shifting their orders from Bangladesh to other destinations like Myanmar, Cambodia and Vietnam as they are afraid that the Bangladeshi exporters might not be able to make timely shipments due to the on-going unrest.
Though plastic production is going on, import of raw materials, transportation and shipments of finished goods are seriously hampered during strike or hartal, President of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) Md Jashim Uddin said.
"An American buyer, who was supposed to come and place an order, cancelled his visit early this month because of the volatile political situation," he informed this correspondent.
Foreign investors, buyers shying away from Bdesh :: Financial Express :: Financial Newspaper of Bangladesh
Published : Wednesday, 20 March 2013
Monira Munni
The country's confrontational political situation is now taking its toll on investment and business negotiations with foreign buyers, especially in the export-oriented sectors, industry sources said.
They said the continuous 'hartals' (general strike) might lead investors, and foreign buyers of Bangladesh-made products, to shift their investments and orders respectively to other countries like Myanmar, Cambodia and Vietnam.
In recent times, a number of foreign investors and buyers have cancelled their visits to Dhaka expressing concern over the present volatile political situation, they said. Many of them already held meetings in Hong Kong and Bangkok, in place of Dhaka.
A delegation from Samsung of South Korea was scheduled to hold a meeting with the high officials of the Bangladesh Export Processing Zones Authority (BEPZA) Tuesday. But it was cancelled due to hartal.
"The meeting was cancelled because of the hartal," BEPZA Executive Chairman Maj Gen KM Mominur Rahman told the FE.
The delegation was supposed to hold discussions on issues like investments, the required area of land and employment generation, he added.
Earlier two years back, Samsung sought 500 plots in EPZs at Chittagong and outside Dhaka, the BEPZA official said. But the authority could not accommodate its request due to scarcity of land.
The company again showed its interest to talk to the Bangladeshi officials locating its possible site on land beside the Karnafuli EPZ, he said.
Experts said the Samsung investment could reshape Bangladesh's future as a new manufacturing hub for mobile phones, high-end electrical, electronic and home appliance products.
Bangladesh-Thai Chamber of Commerce and Industry President MA Momen said Thai investors, who have earlier shown interest in making investment in Bangladesh, expressed their concern over the on-going political violence.
"A large number of foreign buyers cancelled their visits to Dhaka. Many of them already have threatened to cancel shipments and orders," Vice President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Faruque Hassan said.
The over $20 billion readymade garment (RMG) industry is already undergoing a tough time because two major markets -- the European Union (EU) and the USA -- have been hit hard by recession, he said. During this time, such political unrest in Bangladesh is unacceptable in the interest of doing business, he regretted.
During the last two months, about 20 foreign buyers cancelled their visits to Bangladesh mainly due to hartals, he said.
"Buyers do not want to take any risk as such political activities disrupt production," Managing Director of Envoy Group Abdus Salam Murshedy said.
He said if this situation continues for long, it would seriously affect the country's exports.
Managing Director of Eastern Apparels Ltd Nasir Uddin Chowdhury said many buyers held meetings with local exporters outside the country like Hong Kong and Bangkok as they are afraid over the situation, now prevailing in the country.
March and April constitute the main booking season and a large number of buyers including the big retailers are expected to come to Dhaka for future negotiations and placing orders, he said. He said there is now less possibility of those buyers' coming here.
"The political instability is taking its toll on our future business," he added.
"Buyers might not stop orders fully but orders will definitely decline amid such an uncertain situation," former President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Fazlul Hoque said.
Buyers will think of shifting their orders from Bangladesh to other destinations like Myanmar, Cambodia and Vietnam as they are afraid that the Bangladeshi exporters might not be able to make timely shipments due to the on-going unrest.
Though plastic production is going on, import of raw materials, transportation and shipments of finished goods are seriously hampered during strike or hartal, President of Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) Md Jashim Uddin said.
"An American buyer, who was supposed to come and place an order, cancelled his visit early this month because of the volatile political situation," he informed this correspondent.
it ok though, one day you will hit one digit iq
funniest bullshit from you today by far, great job. Making the war hero into war criminal. Ah the stupidity. Just to educate your propaganda filled brain, this war criminal was arrested for killing war criminals by your AL 
I want the war criminal trial but i don't want unfair trials, read OIC and UN shows concern, US sides with Jamat but some kids from university thinks that they are biddasagar. Back to my point, Bangladesh is filled with gadhar dols
