[🇧🇩] Sea Ports/Air Ports/River Ports/Bridges/Mega Projects

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Govt not giving port to anyone rather wants to renovate it: Shafiqul

Chief Adviser’s Press Secretary Shafiqul Alam today said the government is not giving Chattogram Port to anyone rather it wants to renovate it. “The government wanted that the world's biggest companies can manage the Chattogram Port. We are not giving the port to anyone. We want them (

thefinancialexpress.com.bd

Govt not giving port to anyone rather wants to renovate it: Shafiqul

Published :
May 25, 2025 22:20
Updated :
May 25, 2025 23:57

Chief Adviser’s Press Secretary Shafiqul Alam today said the government is not giving Chattogram Port to anyone rather it wants to renovate it.

“The government wanted that the world's biggest companies can manage the Chattogram Port. We are not giving the port to anyone. We want them (foreign companies) to invest in the terminal and manage it. We have already received assurances from foreign investors that they will invest $3 billion,” he told an event of the Capital Market Journalists Forum (CMJF) at its office in Paltan in the capital, BSS reports.

Shafiqul said: “In a country like Bangladesh we are talking about one port and a few terminals. Many countries have 20-30 such port terminals. So we have to strengthen it. That is the challenge.”

He said the interim government is working for reforms, judicial processes and elections as economic reforms are underway.

After the reforms, the economic situation will improve, he hoped.

“We are trying to create a broader economic platform where our Bangladeshi economy takes off. If the growth of the economy takes off, then its impact will be felt on the stock market. If the overall economic situation is very good, it is expected that the Bangladeshi stock market will rise to a new height very quickly,” he said.

About the national elections, the press secretary said national elections will be held by June 30 next year.

Turning to capital market, he said it has become a den of robbers as small investors here have only been victims of fraud and lost their capital.

Those who took responsibility for the reform of the capital market in the past, they always served interests of a group, he said.

Referring to the meeting of the Chief Adviser Prof Dr Muhammad Yunus on the capital market, he said, for this reason, the chief adviser has given importance to bringing in foreign experts who know how to globally reform the share market and bring it to global standards.

“A three-month timeline has been given for this. They will come within three months and tell us what is needed to do in the share market and accordingly, action will be taken very quickly,” he said.

As a result, the capital market of Bangladesh will not be held hostage by any group, Shafiqul Alam said.

Stating that the banking sector is being pulled out of the hole, the press secretary said, "Our banking system was very weak. Everything was in a state of ruin. From there, we are trying to pull the banking system out of a hole and raise it to the mountain."

He said, "The currency has been floated for two weeks. But the currency has not depreciated. This indicates that the reforms are giving a good signal."

Stating that increasing foreign investment will have a positive impact on the capital market, Shafiqul Alam said, "If we can get foreign investment right, bring it in a lot, and the macro economy is fine, then we think it will have an impact on the capital market. The capital market is bound to grow well."

He said, "Another issue is to reduce inflation. This was a huge challenge for us. We have increased interest rates, now it is probably more than 10 percent, after doing that, we see that inflation has started to decrease. Our hope, which our central bank governor has said, is to bring inflation down to 5 percent by the end of this year."

He said, "Foreign investment has started coming. In June, you will see that about 150 Chinese investors are coming to Bangladesh, led by a commerce minister. If the Chinese come to Bangladesh, the job growth that we want will be very fast."

Stating that dividing the NBR into two was the government's priority, he said, "Our tax collection was always low. This is because we gave a lot of tax exemptions and the tax collection system was very inefficient. The government has given a lot of focus on this area. In that light, the NBR has been divided into two. As a result of this, we think that tax collection will increase."

CMJF President Golam Samdani Bhuiyan presided over the program, which was moderated by General Secretary Abu Ali.​

 

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Planning Adviser stresses Ctg port's potential as 'strategic trade hub'

Planning Adviser Wahiduddin Mahmud has underscored the potential of Chittagong Port as a strategic hub for trade and commerce for regions, especially for India's northeastern region. He said the port could facilitate the export of goods from that area while also enabling the import of raw ma

thefinancialexpress.com.bd

Planning Adviser stresses Ctg port's potential as 'strategic trade hub'

FE REPORT
Published :
May 27, 2025 00:56
Updated :
May 27, 2025 00:56

Planning Adviser Prof Wahiduddin Mahmud speaks at a seminar on "Economic Corridor and Logistics Development in Bangladesh: Investment Opportunities" at a city hotel on Monday, with International Chamber of Commerce-Bangladesh (ICCB) President Mahbubur Rahman in the chair. — FE Photo

Planning Adviser Wahiduddin Mahmud has underscored the potential of Chittagong Port as a strategic hub for trade and commerce for regions, especially for India's northeastern region.

He said the port could facilitate the export of goods from that area while also enabling the import of raw materials, which could be processed in Bangladesh for further export.

However, he revealed that the budget the interim government is going to present soon cannot include aspirational projects people expect as most of the development budget is going to nearly 1,200 inherited projects which could not be abandoned half-done despite their poor feasibility status.

He came up with the comments and observations at a seminar on Economic Corridor and Logistics Development in Bangladesh: Investment Opportunities organized jointly by International Chamber of Commerce- Bangladesh (ICC Bangladesh) and Asian development Bank (ADB) at Hotel Sheraton in the capital.

Speaking as chief guest, he said Chittagong port is an asset and could be utilised not only for the country but for the region as well.

"The northeastern states of India are rich in natural resources like bamboo and cane. These can be exported through Chittagong Port. What's more, those raw materials can be processed in the Chittagong Economic Zone and then exported, benefiting both countries."

However, he cautioned that a conducive geopolitical environment is essential for this vision to materialise.

"Favorable geopolitics foster favorable geo-economics," he remarked, adding that if such conditions are achieved, Bangladesh could assume a highly advantageous position in the region.

"That's why we're planning and undertaking projects centered on Chittagong Port."

The advisor stressed the importance of enhancing internal connectivity before pursuing transnational corridors.

"Improved communication with neighbouring countries is important, but we must first upgrade our domestic infrastructure. That said we cannot afford to waste resources on unviable projects."

Mahmud expressed concern over the current state of the development budget.

"This year's development budget includes around 1,200 projects-98 to 99 percent of which are inherited from the previous government. These projects are consuming our resources, leaving limited room for new initiatives or increased allocations in other sectors."

He noted that many of these projects were flawed and required corrective measures.

"We've restructured some, but if a road is already half-built, we can't just abandon it and redirect the funds to education or health which are hungry for allocation actually. That's why we couldn't take up the kind of new development projects people were expecting from the interim government."

He also criticised the lack of proper scrutiny in past project approvals. Citing the Bus Rapid Transit (BRT) project from Gazipur to Dhaka airport as an example, he said, "The project is reportedly 95-98 per cent complete, but the design was fundamentally flawed. Initially budgeted at Tk 30 billion, it now needs another Tk 30 billion to fix those errors."

Mahmud mentioned other problematic projects, such as the Dhaka-Bhanga expressway built via the Padma Bridge. "It's a world-class road, but it ends in a region with limited onward connectivity. While the Padma Bridge has eased transport across the river, the high construction costs have yet to yield significant private investment in the surrounding areas."

Speaking as chair, President of ICC Bangladesh Mahbubur Rahman said the case for economic corridor development is no longer inspirational. "It is urgent, evidence-based, and actionable."

He stated that if implemented effectively, the corridor could increase the region's combined output from $32 billion in 2020 to $286 billion by 2050 under a business-induced scenario (BIS), and generate up to 71.8 million jobs over the same period.

Mr Rahman emphasised that regulatory reforms, digitised customs processes, and strategic partnerships with regional and multilateral institutions - particularly the ADB - are positioning Bangladesh as a key player in South Asia's evolving trade landscape.

"ICC Bangladesh stands ready to support this agenda," he said, noting the institution's role in bridging the private sector with the global policy community.

He said the economic corridor envisions transforming 14 districts by linking manufacturing hubs in Khulna and Jessore to Sylhet and Mymensingh, covering nearly 34 percent of the national population.

"This is not just about infrastructure - it's about uplifting communities long left behind," he added.

Anisuzzaman Chowdhury, special assistant to the Chief Adviser at the Ministry of Finance, suggested that Bangladesh could draw valuable lessons from the transformative economic journeys of South Korea, the People's Republic of China, and Japan, particularly in their successful transition from poverty to prosperity.

He emphasised the need to synergise both financial and social capital to ensure Bangladesh fully benefits from its LDC graduation.​