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30. September 2010 4 30 /09 /September /2010 18:31

USA-China Industry to invest $2.5m in CEPZ

World Ye Dress Pants Limited, a US-Chinese company in the Chittagong Export Processing Zone, is to expand its garments accessories unit with more investment and creation of new jobs for the Bangladeshis. The hundred per cent foreign-owned company will enhance their production capacity with additional investment of $2.5 million, totalling the amount to $5 million, a press release of the Bangladesh Export Processing Zones Authority said in Dhaka on Sunday. At present, 998 Bangladeshis are working in this factory and the job opportunities for an additional 500 are expected to be created after implementation of the expansion programme, the press release said. A lease agreement to this effect was signed between the BEPZA and the company recently. BEPZA executive chairman Brigadier General Ashraf Abdullah Yussuf, among others, was present on the occasion.

Source — BSS

January 28, 2008 Posted by positivebangladesh | Business Development at Bangladesh, Foreign Investment at Bangladesh | Leave a Comment

South Korean company at CEPZ to go for expansion

The Youngone Ltd at Chittagong Export Processing Zone will go for expansion with the involvement of five million dollars. An agreement to this effect was signed between the Bangladesh Export Processing Zones Authority and the Youngone Ltd in the BEPZA complex, Dhaka Tuesday, said a press release. Under the agreement, the 100 per cent foreign owned company will enhance its production capacity employing 500 more Bangladeshis. At present 2,546 Bangladeshis are working in the factory. General manager (investment promotion) AZM Azizur Rahman of BEPZA and Md Nurul Alam, deputy director of Youngone Ltd, signed the lease agreement on behalf of their respective organisations. Among others Brig Gen Ashraf Abdulah Yussuf, executive chairman, member (engineering) Md Farhad Uddin and secretary BM Kamal of BEPZA were present at the signing ceremony.
Source— BSS

January 23, 2008 Posted by positivebangladesh | Foreign Investment at Bangladesh | Leave a Comment

Malaysian investment team arrives next week

A high profile Malaysian investment delegation is scheduled to visit Dhaka this week to explore scopes for new joint-venture business in Bangladesh. The team led by Dato Ir. Mohd Annas Bin Nohd Nor, former chairman of the Energy Commission in Malaysia, will explore the possibility of investing in power, infrastructure and real estate sectors in Bangladesh. Annas Bin Nohd Nor, a leading Malaysian energy expert, is presently the head of the Genting Power Holdings. An official of the ICS Business Group that invited the Malaysian delegation said, “we are expecting some significant business gains from this visit.” Power sector, is definitely the core area for investment, he said adding that investment in ceramics is also strongly considered. ICS Business Group, in collaboration with Xenovalley (M) Sdn Bhd of Malaysia, is now implementing the Pink City Xenovalley Model town project at Khilkhet area in the city.

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Malaysian investment in Bangladesh so far reached slightly over one billion dollar in telecommunication, power & energy, healthcare, textiles, food products, ceramics, electrical & electronics, IT, education, furniture and real estate sectors.

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An official of the Bangladesh-Malaysia Chamber of Commerce and Industry said the Malaysian financial institutions are planning to open branches in Bangladesh. Islamic banking and insurance services are specially considered, he said. In Bangladesh, some state-owned commercial banks are off loading their shares to private owners where Malaysian investors are likely to give a close look, he added. The Malaysian delegation will attend a day-long seminar on “Bangladesh-Malaysia Joint-Venture Business Feasibility and Some Achievements” at a city hotel on Tuesday. At the seminar they will exchange their ideas with Dr. M Tamim, the newly appointed Special Assistant to the Chief Adviser on Energy and Power. They are also scheduled to meet the Executive Chairman of the Board of Directors. “They want government encouragement,” said an ICS Business Group official.

Source: Financial Express

January 21, 2008 Posted by positivebangladesh | Foreign Investment at Bangladesh | 1 Comment

Norway keen to invest in Bangladesh

Honorary Consul of Bangladesh in Norway Peter Dae is very much optimistic about organising more Norwegian investments for Bangladesh in various sectors including energy as he said, ‘Some Norwegian companies are eager to establish commercial links with Bangladesh.’ The Honorary Consul expressed the hope during a meeting with the foreign adviser, Iftekhar Ahmed Chowdhury, at the foreign ministry Monday afternoon. The foreign adviser praised the role of Peter Dae as Bangladesh’s representative in Norway and his contribution in expanding bilateral relations between the two friendly countries. Dae recalled foreign adviser’s recent visit to Norway, which he said, was ‘very positively perceived’ in that country.

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Source: UNB, Newage

January 15, 2008 Posted by positivebangladesh | Foreign Investment at Bangladesh | Leave a Comment

DFID to develop special economic zone in Bangladesh

The Department for International Development has been working to develop special economic zone at prospective places in the country with a view to increase foreign investment.

Officials of the DFID, a British aid agency, said this to leaders of the Chittagong Chamber of Commerce and Industry while they had a parley at the CCCI office to discuss issues relating to trade and investment, a CCCI press release said.

The CCCI president, Saifuzzaman Chowdhury, senior vice president MA Latif, senior private sector advisor of DFID, Richard Boulter and private sector advisor, Dr Masrur Seraj were present at the meeting.

Richard Boulter said Bangladesh Investment Climate Fund has been floated under the auspices of DFID to promote the overall state of investment here through conducting comprehensive survey on investment scenario considering the importance of private sector in accelerating the trade and investment.

CCCI president sought DFID’s assistance for the development of Bangladesh’s infrastructure particularly in constructing the toll-based four- lane highways between Dhaka and Chittagong.

Terming private sector as the main wheel of economy, he said like foreign investors, local investors should also be given incentives to achieve a stable economic growth.

He suggested the DFID officials that product based

special economic zone to be set up by prioritising the region on the basis of prospects of production and availability of raw materials.

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Source: BSS(Chittagong), Newage

January 14, 2008 Posted by positivebangladesh | Business Development at Bangladesh, Export, Foreign Investment at Bangladesh | Leave a Comment

USA-Canada co to invest at AEPZ

A USA-Canada venture, Accessories World Limited, is going to set up a garment accessories manufacturing industry in the Adamjee Export Processing Zone. An agreement to this effect was signed between the Bangladesh Export Processing Zone Authority and the Accessories World Limited at BEPZA complex in the city on Tuesday, said a press release. Prasanta Bhushan Barua, member of BEPZA, AND Ahsan Khan Chowdhury, deputy managing director of Accessories World Limited, signed the agreement on behalf of their respective organisations. The hundred per cent foreign-owned company will invest $5.2 million and will produce hanger, sizer stick, hanger stick, plastic furniture, plastic toys, plastic tools, house hold items, PP band and other plastic items.

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Source: New Age

January 2, 2008 Posted by positivebangladesh | Foreign Investment at Bangladesh | Leave a Comment

Japanese entrepreneurs keen on developing gas, coal sectors in Bangladesh

Japanese entrepreneurs are interested in joining the effort to develop Bangladesh’s gas and coal sectors — the two potential fields of energy, reports UNB. Japan-Bangladesh Joint Committee for Commercial and Economic Cooperation (JBCCEC) Chairman Koji Nojima leading a nine-member JBCCEC delegation met Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Mir Nasir Hossain Wednesday and spoke about the interest of Japanese entrepreneurs in this regard. They discussed the potential and problems of cooperation between Bangladesh and Japan under the umbrella of JBCCEC, which was established between Japan Chamber of Commerce and Industry (JCCI) and FBCCI in 1980. Nojima is now visiting Bangladesh to attend the inaugural function of the 3rd Japan Trade Fair 2007, beginning in the city today (Thursday) to promote new products of Japan. Japan-Bangladesh Chamber of Commerce and Industry (JBCCI) organised the fair in association with the Japanese Embassy, Japan External Trade Organisation (JETRO) and Shoo-Koo-Kai. During the meeting, Nojima mentioned his long involvement in Japanese cooperation with Bangladesh and expressed his shock at the devastation caused by the cyclone. After his return to Japan, he would urge the JBCCEC members to contribute to the relief operations for the cyclone-affected people.

In response to Nojima’s remarks, FBCCI President Mir Nasir Hossain said he had high regard from him, as he had been acting as the catalyst in Japan’s cooperation with Bangladesh. He mentioned that the volume of trade between Bangladesh and Japan in 2006-07 amounted to $899.63 million, an increase of 20.54 over last year. This year, exports from Bangladesh to Japan were worth $147.47 million and imports into Bangladesh from Japan $752.16. Mir Nasir underscored the need for exploring ways from both the sides for further strengthening trade relations. He also mentioned that Japanese investment so far in Bangladesh was $1.2 billion and urged more investment for infrastructure development. The FBCCI president briefed the Japanese delegation leader about the newly-formed ‘Better Business Forum’ and called for greater market access for Bangladeshi products to Japanese market. Japanese Ambassador in Bangladesh Masayuki Inoue, JBCCI vice presidents Hideo Ueno and Abdul Haque, JBCCI Secretary General AKM Moazzem Hossain and Momohito Kinomoto and Yoshiteru Honda of JETRO were among the delegation members.

Source: The Financial Express.

November 29, 2007 Posted by positivebangladesh | Bangladesh's Mineral Resource, Foreign Investment at Bangladesh | Leave a Comment


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