[🇧🇩] China's Belt and Road Initiative------What it means for Bangladesh.

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BRI to help Bangladesh's real GDP growth by at least 2.1 pct: report

BRI to help Bangladesh's real GDP growth by at least 2.1 pct: report-

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BRI to help Bangladesh's real GDP growth by at least 2.1 pct: report​

Source: Xinhua
Editor: huaxia
2023-09-22 09:32:30

DHAKA, Sept. 22 (Xinhua) -- A recent report estimated that the Belt and Road Initiative (BRI) will help Bangladesh's real gross domestic product (GDP) growth by at least 2.1 percent, generate an additional 2.5 percent to 5.1 percent of employment, and decrease extreme poverty by 1.3 percent.

The report, titled "The Belt and Road in Bangladesh Achievements and Way Forward," was published here on Thursday by the Chinese embassy in Bangladesh. It said that the BRI activities in Bangladesh primarily encompass three areas: infrastructure development, energy and power collaboration, and social and cultural exchange.

Taking the examples of the Padma Bridge Rail Link Project, the Bangabandhu Sheikh Mujibur Rahman Tunnel, and the Expansion and Strengthening of Power System Network, the report said estimations based on different modeling approaches indicate substantial positive effects on GDP, trade, employment generation and poverty reduction.

According to the report, depending on the specific scenarios considered, the BRI projects are projected to create an additional 1.8 million to 3.6 million employment opportunities.

Meanwhile, the report said that the BRI offers an additional opportunity for Chinese investment and financing in infrastructure and connectivity projects, which can stimulate Bangladesh's supply response and external competitiveness.

It demonstrated BRI's "transformative power in driving economic growth and uplifting communities from poverty," said the report.

Also, the report called on both countries to collaborate to improve the ease of doing business, identify and eliminate investment barriers, and establish a favorable legal framework to protect the rights and interests of investors and consumers.

M. A. Mannan, Bangladeshi Planning Minister, stated in the report's message that Bangladesh, as a member of the BRI global cooperation alliance of China, has already started benefiting from the BRI, including China's financial investment and contractual construction obligations.

"The investment made by BRI will continue to contribute to development initiatives of Bangladesh competitive in the future and will help to achieve vision 2041," said Mannan.

"As we have seen for the past few years, the BRI has changed the landscape of Bangladesh," stated the message by Bangladesh's commerce minister Tipu Munshi, adding that the investment in the power sector enabled Bangladesh to realize 100 percent electrification.

The investment in the digital sector has also brought the dream of Digital and Smart Bangladesh one step closer, and the investment in roads and railways has transformed the trade landscape in Bangladesh and ensured faster connectivity throughout the country and the South Asian region as well, said the commerce minister.

Yao Wen, Chinese Ambassador to Bangladesh, stated in the report's message, "I am convinced that under the framework of BRI, more and more Chinese enterprises and people will devote themselves to the goal of Smart Bangladesh, proposing Chinese solutions and making even more contributions to the realization of 'Vision 2041'." ■​

 

[Saif]

https://www.dhakatribune.com/bangladesh/foreign-affairs/324751/china-bri-will-take-dhaka-beijing-relations-to

China: BRI will take Dhaka-Beijing relations to new heights​

• 2023 marks 10th anniversary of BRI
• Bangladesh first South Asian country to join initiative
• ‘Economic, trade cooperation important pillar of ties’

Representational image. Photo: Collected
Tribune Report
Publish : 08 Sep 2023, 04:01 PMUpdate : 08 Sep 2023, 04:01 PM


Beijing-Dhaka relations will “surely reach a new height and open a new era of friendly cooperation” under the Belt and Road Initiative (BRI), Yan Hualong, chargé d'affaires of the Chinese Embassy, has said.

He was speaking at the inauguration of the "The Belt and Road Initiative in Bangladesh Exhibition 2023" in Dhaka on Friday.

Lokman Hossain Miah, executive chairman of the Bangladesh Investment Development Authority, was also present.

This year marks the 10th anniversary of BRI.

The envoy said Bangladesh had been the first country in South Asia to join the initiative.

He said the Chinese Embassy in Bangladesh was holding the exhibition to vividly demonstrate the achievements of BRI in Bangladesh, build a platform for cooperation between Chinese and Bangladeshi companies and present a gift on the upcoming 74th anniversary of the People's Republic of China.

The exhibitors include 15 Chinese companies whose South Asian regional headquarters are in Bangladesh, nearly 20 other large Chinese companies that are deeply operating in the Bangladesh market, and several large Bangladeshi companies and banks.

Yan said economic and trade cooperation had always been an “important pillar of the China-Bangladesh strategic partnership.”

Since Bangladesh joined the Belt and Road Initiative, more and more Chinese companies had been investing in Bangladesh, he said.

Currently, there are more than 670 Chinese companies operating in Bangladesh.

These companies, “especially the exhibitors here today,” were an important driving force for China-Bangladesh economic and trade cooperation, the envoy said.

“They promote more Chinese capital, Chinese technology and Chinese standards to Bangladesh, providing impetus for the upgrading of Bangladesh's industrial structure and long-term economic development.

“They build infrastructures such as roads and bridges, laying a solid foundation for Bangladesh's economic development. They participate in municipal water affairs, dealing with garbage and sewage, and improving the living standards of the Bangladeshi people.

“They invested in various power plants to ensure power supply in Bangladesh and helped it become the first country in South Asia with nationwide access to electricity.

“They participated in the construction of the Bangladesh network and contributed to the construction of Smart Bangladesh.

“They are committed to promoting bilateral trade and make positive contributions to Bangladesh's import of raw materials sectors and export of finished products sector,” he said.

On the journey of Bangladesh's modernization, Yan Hualong said, China would always be a “trustworthy neighbour, close friend and cooperative partner.”

“China will continue to encourage more Chinese enterprises to invest in Bangladesh and promote the steady and long-term development of China-Bangladesh economic and trade relations,” he said.​

 

[Saif]

BRI projects fuel infrastructure growth in Bangladesh

DHAKA — It used to take Rukhsana Parveen Khan 30 to 45 minutes to reach Bonani from Dhaka, the capital of Bangladesh. Today, the journey takes a mere five minutes. "This is excellent," she told Xinhua News Agency. "I use this road daily and will benefit greatly from it."

www.chinadaily.com.cn

BRI projects fuel infrastructure growth in Bangladesh​

China Daily | Updated: 2023-10-16 09:13
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A man (right) takes photos of a train ready for a trial run along the newly-constructed mega rail line via the China-built Bangladesh's largest Padma Bridge on the outskirts of Dhaka, Bangladesh, on Sept 7. [Photo/Xinhua]

DHAKA — It used to take Rukhsana Parveen Khan 30 to 45 minutes to reach Bonani from Dhaka, the capital of Bangladesh. Today, the journey takes a mere five minutes. "This is excellent," she told Xinhua News Agency. "I use this road daily and will benefit greatly from it."

The road Khan mentioned is the First Dhaka Elevated Expressway, one of Bangladesh's flagship infrastructure projects, which partially opened to traffic on Sept 3.

The capital and the country's largest city, Dhaka has a population of nearly 20 million. However, the inadequate road infrastructure has made for frequent traffic congestion. "We have to struggle with traffic jams every day, so it's terrible for us," said Khan.

To solve the problem, the 19.73-kilometer expressway project, with a total investment of $1.26 billion, was launched on Jan 1, 2020, under the guidance of the local government. China's Shandong Hi-Speed Group Co Ltd is the project's leading investor and builder.

However, advancing the project was not easy. According to Zheng Xiaozhong, director of Shandong Hi-Speed International Bangladesh Co Ltd, a section of the road crosses a railway line with trains passing every 15 minutes on average, leaving almost no time for construction.

To solve the issue, the contractor designed an "adjustable mobile door frame" using cast-in-place crossbeams. Thanks to the innovative construction technology, the project's first phase was officially open to traffic in September.

Speaking at the expressway's opening, Bangladeshi Prime Minister Sheikh Hasina called it "a new milestone in Bangladesh's city mass transport system", adding that it would play a significant role in developing communication between the capital and the rest of the country.

Bangladesh is the first South Asian country to join the Belt and Road Initiative. Since then, Bangladesh has made significant progress in its Belt and Road cooperation with China, particularly in infrastructure construction.

The Padma Bridge Rail Link project, which passes through Bangladesh's largest Chinese-built Padma Bridge, is one of the most significant projects under construction by China Railway Group Ltd and funded by the Export-Import Bank of China.

The Bangladeshi government recently launched an experimental passenger train with Chinese-made coaches on a section of the newly constructed mega rail line.

This is a "historic moment", Bangladeshi lawmaker Saifuzzaman Shikhar told Xinhua. "I'm crossing the Padma Bridge by train. It used to be a dream, but it is a reality today."

The entire 172-km project is scheduled for completion in 2024. It will serve as a vital channel connecting Dhaka to more than 20 districts in the country's south and is expected to greatly promote regional connectivity and economic development.

Taking the train, Bangladesh's Railways Minister Nurul Islam Sujan expressed his hope that China will continue cooperating with the country.

While improving road traffic, BRI projects in Bangladesh have trained many professionals, including designers and engineers.

Until now, Chinese enterprises have built 12 roads and 21 bridges in Bangladesh, with several transportation projects underway or to be implemented soon, creating hundreds of thousands of jobs.

Infrastructure, the bedrock of connectivity, is a priority goal of Belt and Road cooperation. Hasina recently said that Belt and Road cooperation has opened a new development door for Bangladesh.​

 

[Saif]

Roundtable discussion on 'China Bangladesh Relations and the Belt and Road Initiative' held at DU

The Centre for East Asia Foundation (CEAF) has organised a roundtable discussion on 'China-Bangladesh Relations and The Belt and Road Initiative' at the Abdullah Farque Conference Hall of the Faculty of Business Studies of Dhaka University on Monday. The four-member high-level delega

thefinancialexpress.com.bd

Roundtable discussion on 'China Bangladesh Relations and the Belt and Road Initiative' held at DU
DU CORRESPONDENT
Published :
May 20, 2024 21:08
Updated :
May 20, 2024 21:08

The Centre for East Asia Foundation (CEAF) has organised a roundtable discussion on 'China-Bangladesh Relations and The Belt and Road Initiative' at the Abdullah Farque Conference Hall of the Faculty of Business Studies of Dhaka University on Monday.

The four-member high-level delegation led by Prof Dr Wang Jian, Director of the Shanghai Academy of Social Sciences (SASS), China attended the programme. Dean, Faculty of Business Studies, University of Dhaka Prof Dr Muhammad Abdul Moyeen attended as the chief guest, and former Ambassador and Chairman of CEAF Mahbub Uz Zaman moderated and chaired the event.

The chief guest Prof Dr M Abdul Moyeen mentioned that Bangladesh, as a member of the BRI cooperation alliance of China, has already started benefiting from the BRI, including China's financial investment and contractual construction obligations.

"The investment made by the BRI will continue to contribute to the development initiative of Bangladesh's competitiveness in the future and will help to achieve Vision 2041," he added.
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