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Does Bangladesh have any incentives for investors?

In recent times, Bangladesh has become an important part of the economy of the Asian countries, particularly South East Asia and South Asian markets. It has been proven that the financial background of Bangladesh is rather strong. Bangladesh is a fast growing, developing democratic country. It has positioned itself on the model of Westminster. The country is a power in a constantly capricious and equally intimidating situation. Today, the economy of the country is well developed, steady and easily controlled. This shows that Bangladesh has achieved great expansion over foreign products and enlarged fund transfer rate. Besides, the country is growing moderately in trade and fund supply. The country has made excellent work in the economic and confidential sector. It has become an export oriented nation in the early 1980s. The country is steadily altering into the Construction Sector, Industrialization, and is looking for quick development in the field of service.  She shows ki...

Twelve projects are being funded by India

Bangladesh has signed 12 development projects where India is providing Bangladesh with US$1 billion credit line. Bangladesh has submitted a budget that says that it will take approximately US$654.71 million. Tender for four projects has been already asked for and letters of credit have been opened for another four. The rest of the four projects are still awaiting approval. The first project is about developing the transportation situation of Bangladesh. Bangladesh will buy 300 double-deckers, 100 single-decker and 50 articulated buses. The cost of this purchase is about US$36.85 million. So far, Bangladesh has received 91 double-deckers while 35 more are on their way. Ashok Leyland, the supplier of the buses, hopes that they will be able to finish the delivery within the end of October, 2012. The second project is for the development of the railway transportation system of Bangladesh. Bangladesh will buy 180 broad gauge bogie oil tank wagons and six broad gauge bogi brake vans from...

Putting an end to the unrest in the garment industry

Due to lack of understanding and cooperation between the local lawmakers, administrators and garment owners, it has become quite tough for the government backed crisis management committees to control the violence in the garment community. The committee has also shown some mismanagement in their part, they are supposed to summon a meeting every month to discuss the management issues of the crisis, which is however only seen when there is a crisis taking place. This is a reason for which the labor and employment ministry formed its own central crisis management committee and five other committees based on five different zones back in 2010, for easier management of specific sector problems. The central crisis management is leaded by the state minister for labor and Employment Munnojan Sufian, where the local lawmakers are made the head of the zonal committees. This was predeceased by the system of several zonal committees; which was headed by the deputy commissioners of the dist...

Bangladeshi workers send record amount home

New job opportunities in the oil rich Middle East have bolstered the Bangladeshi economy, with migrant workers sending him a record $US12.85 billion in the fiscal year, which ended in June. The executive director of Bangladesh's central bank, M. Ahsanullah said the amount is a 10.26 per cent increase on the last fiscal year. Bangladesh has more than eight million migrant workers sending money back home.This much-needed foreign exchange accounts for more than 10 per cent of Bangladesh's Gross Domestic Product and helped to ease pressure on the nation's balance of payment and bolster the local taka against the US dollar. Last year the taka lost 15 per cent of its value against the US dollar after the government sought a $US1 billion bailout from the International Monetary Fund in April. In the last six months, some 374,837 Bangladeshis flew overseas for work. According to Bangladesh's Bureau of Manpower and Employment Training they work mostly in the manufacturing, const...

Flood Problem of Chittagong is for real!

Even though the streets of Chittagong being flooded after rainfall were never an issue before, it is in point of fact becoming a tremendous hassle for the citizen of the port city now. Flooded road was a problem for other metropolitan cities like Dhaka and Rajshahi. But in the last few years, Chittagong has been facing this problem even more than Dhaka. After a mild rainfall, the streets of Chittagong get flooded up to knee level. Illegal constructions, unplanned development of the city and medieval sewage system have been pinpointed as the primary reasons behind this problem. Chittagong is more of an international city in Bangladesh than Dhaka in a sense that the Chittagong Port is hub connecting South Asia with South-East Asia. Unexpected flood like this seriously hampers the ever so important communication system of the port city. Chittagong City Corporation and the city developers must mark this is a big problem and take quick action to resolve this. Just a decade ago...

Order for removal of all commercial set-ups in Dhanmondi

For the preservation of the residential area’s environment and its title, the High Court declared the presence of all commercial operations illegal. The decision was made on an injunction ordering the govt. authorities to issue legal notices and setting a time limit for the owners of the institutions for the removal of the places. This decision however excludes all the legal commercial places in Dhanmondi- 2, Dhanmondi- 27, Mirpur Road and Satmasjid Road. The High Court has ordered the authorities of Maple Leaf International School to move all their branches from the Dhanmondi Residential Area by the end of 2015, within which time t he School authorities are to be responsible for the traffic jam caused during the School hours, and are also to control the jam with their own man power. According to the Petitioners’ council confirmed that all institutions including, schools, colleges, Universities, and even Hospitals set-up in the residential area must be shifted as per this ...

The Sahara shadow is getting darker

The government recently made a deal with Sahara India Parivar, allowing them to invest in the real estate sector. The government has also given them 100 thousand acres of land around Dhaka to develop a modern satellite township. In usual state of affairs, local real estate companies have protested this move. They have their grievances because the government had not been able to provide them with adequate land and other amenities for years. Why this sudden change in policy and that too for a foreign company? Real Estate and Housing Association of Bangladesh and Bangladesh Land Development Association asked the government to hold a meeting with them to discuss this issue before sealing the deal with Sahara India Parivar. They said that if the government can provide them with the same civic amenities and the same amount of land, they can make at least an equally good plan like Sahara India Parivar. Their reasoning is simple – why head for an Indian company when the local player...