Malaysian Expertise Needed For US$15 Billion Bangladesh Projects
KUALA
LUMPUR, March 7 (Bernama) -- Investments and the expertise of Malaysian
companies are much needed in various infrastructure and power generating
projects worth US$15 billion in Bangladesh.
In
stating this, the President of the Bangladesh-Malaysia Chamber of Commerce
& Industry Syed Nurul Islam said the government projects, can be through
the participation of Malaysian companies via public-private partnerships
(PPPs).
He
said Malaysia's expertise, proven through various landmark projects worldwide,
is a critical need in uplifting Bangladesh's infrastructure as well as power
generation industry.
He
said among the projects is a 2,000-kilometre road venture and a power
generation undertaking, to increase the power generated in the country by 2,000
megawatts to 10,000 megawatts.
"These
investments are needed immediately. We prefer to give the projects to Malaysia
as it is more of a business-friendly nation.
"Bangladesh
is currently seeking to elevate itself to a middle-income nation. So, these
infrastructure and power developments are crucially needed," he told
reporters on the sidelines of the "Business Opportunities in
Bangladesh" seminar here today.
The
event was organised by the Malaysia External Trade Development Corporation
(Matrade).
As
of 2010, Malaysian investments in Bangladesh stood at US$25 million, mainly in
the transport, telecommunication and manufacturing sectors.
Earlier
this week, Malaysia and Bangladesh reached a preliminary agreement on the final
terms of implementation of the US$2.3 billion Padma Multipurpose Bridge
project.
The
Padma Bridge is a 6.15-kilometre multi-purpose road-rail bridge across the
Padma River in Bangladesh and upon completion, it will be the country's biggest
infrastructure project to date. It will also be declared the largest bridge in
the country.
Meanwhile,
Matrade's Deputy Chief Executive Officer, Datuk Zakaria Kamarudin said efforts
are being made by both Malaysia and Bangladesh, to enhance trade activities
between both countries.
Specifically,
he added, it is to increase the export of Bangladeshi products and services to
Malaysia.
He
said Malaysia's total trade last year with Bangladesh, a country with a 152
million population, stood at US$1.57 billion. Exports from Bangladesh to
Malaysia was only US$73.9 million.
"Although
Malaysia's import numbers from Bangladesh is very small, last year's value was
a jump of more than 80 per cent from previously.
"This
indicates that businesses from both nations are looking forward to having more
transactions," he added.
Among
Malaysia's top exports to Bangladesh are refined petroleum products, palm oil
as well as chemical and chemicals products. The top imports from Bangladesh are
textiles and apparels, refined petroleum products as well as vegetables, roots
and tubers.
Source:
Bernama
Date:
07 March 2013
Afternoon Highlight (07/03//13/36/734)
Afternoon Highlight (07/03//13/36/734)
No comments:
Post a Comment