Cox’s Bazar swings back to second wonder

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Cox’s Bazar swings back to second wonder
Star Business Report

The world’s longest unbroken beach Cox’s Bazar was yesterday promoted to the second position in the race for the new seven wonders of nature.

Earlier, Cox’s Bazar ranked third in “Group G” of a total of seven categories under the New7Wonders Foundation.

The overwhelming support of the citizens of the country, including expatriates, helped Cox’s Bazar and the Sundarbans hold on to the top, Bangladesh Parjatan Corporation said in a statement yesterday.

The Sundarbans ranked third in “Group E” for forests, natural parks and reserves, according to the website for the New7Wonders Foundation.

Tk 650cr glassware plant to come on stream

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Tk 650cr glassware plant to come on stream

Workers construct a glassware and energy-saving bulb plant in Mirzapur, Tangail. The project undertaken by Nasir Group will cost Tk 650 crore. Photo: Sajjadur Rahman

Sajjadur Rahman

Nasir Group is going to set up the country’s first glassware and energy saving tube plant within this year at a cost of Tk 650 crore.

Officials said the new company — Nasir Glassware and Tube Industries Ltd — is expected to start operations by the end of this year.

“We have already invested around Tk 200 crore for the ongoing civil construction, including land acquisition,” said Habibur Rahman, project engineer of Nasir Glassware and Tube Industries.

The plant is being set up on a 125-bigha land at Sohagpur under Mirzapur upazila of Tangail district. Nearly 5,000 tonnes of 75-grade rod will be used for the factory.

Some 800 people will be employed permanently in addition to several hundreds casual workers, officials said.

“We have initially estimated the project cost at Tk 600 crore, but this will exceed considering the pace of the expenditure,” said Rahman who was also the project engineer of successfully built Nasir Glass Industries, the country’s largest float glass manufacturer.

Nasir Glassware and Tube Industries will be the first of its kind in the country and will compete against a flood of imported goods now dominating the glass tableware, fluorescent and energy saving bulb market here.

Glassware products that will be manufactured at the plant include tableware, flower vase, perfume bottle, bowl and candle stand.

Officials, quoting a survey report, said the country has an annual market of glassware worth around Tk 500 crore. All of the items are imported from different countries including China, Thailand, Malaysia and Indonesia.

The market size of fluorescent and energy saving bulbs is almost same as that of glassware, they said. The energy saving bulb market will boom once the government makes its use mandatory.

“Initially our plan is to meet the domestic glassware demand, but we will export also,” said Aby Sayed, general manager (commercial and banking) of Nasir Group.

On the issue of bank financing, Sayed said: “It’s under process.”

He however said several banks are offering the company their credit and the company is also going to some banks.

A senior private bank official admitted they are now appraising the project, and prefer to arrange a syndicated loan for one of its ‘valued clients’. “We are studying the proposal thoroughly,” he added.

Earlier, as the lead arranger, Prime Bank managed a syndicated loan of Tk 100 crore for the group’s Nasir Glass Industry Ltd in 2003.

Nasir Glass Industry manufactures float glass, reflective glass, tempered glass, coated glass, mirrors, clear and colour glasses.

Nasir Group, originally a regional bidi manufacturer based in western Kushtia district, became a household name after setting up the country’s first float glass factory.

The group, also the country’s biggest melamine manufacturer, has a sports shoes plant and sells low-priced cigarette.

Named after its owner Nasir Uddin Biswas, the group has an annual turnover of around Tk 1,000 crore.

sajjad@thedailystar.net

EPB eyes $25b RMG exports by 2013

http://www.thefinancialexpress-bd.com/2009/02/04/57878.html

EPB eyes $25b RMG exports by 2013

Our Correspondent

CHITTAGONG, Feb 03: Despite adverse situation persisting in the global trade, the on-ward march of the garments industry of the country still continues. Seventysix per cent of total export trade comes from this sector and if the encouraging trend can be retained, the country is likely to earn upto US 25 billion by the year 2013.

Export Promotion Bureau (EPB) Chittagong regional Director Golam Mostafa expressed such a note of optimism while delivering his address of welcome in a seminar on “Readymade garments: its problems, prospects and competitiveness issues” arranged under the auspices of EPB, Chittagong region at its office in the city yesterday.

The speakers in the seminar said, following downtrend when the buying capacity of the buyers would come down, they would automatically search for the goods sold in cheaper rate.

As comparatively good quality of goods are produced in Bangladesh at cheap rate, the demand of Bangladesh made goods is on a rise in the developed countries.

They said in the field of readymade garments, when the competing countries have already closed their factories in the context of rise in expenditures following global downtrend, the foreign buyers are approaching Bangladesh. It has undoubtedly created a new ray of hope in the garments sector.

The speakers called for undertaking proper planning and guidelines for the garment industries of the country. BGMEA Director Mohiuddin Chowdhury attended the seminar as chief guest while EPB Director Abdur Rahman was the special guest.

As many as 80 representatives of different organisation took part in the seminar.

Seoul offers duty-free access to 34 more products

http://www.newagebd.com/2009/feb/04/busi.html#5

Seoul offers duty-free access to 34 more products
Bangladesh Sangbad Sangstha . Dhaka

State Minister for Foreign Affairs Hasan Mahmud on Tuesday said 34 new products would have duty-free market access to South Korea, in addition to other Bangladeshi exports now enjoying duty-free access, under a recent duty rescheduling arrangement.

The state minister told reporters after South Korean ambassador Sun Bum Park called on him at his office that the new duty-free regime had been put into effect from January 1.

Under the new arrangement, garments, ceramic wares, jute products and such other new exports to South Korea would enjoy duty-free market access. He said South Korea is offering duty- free access to 75 per cent of Bangladesh exports until now.

The new arrangement would further bring benefits to the country’s exports, he said adding the South Korean offer came at a time when the newly elected government took office.

He said the South Korean ambassador exchanged views with him on bilateral issues and sought the help of the government in arranging gas supply to Korean Export Processing Zone in Chittagong.

Once the Korean EPZ is put in operation, investment here by South Korean entrepreneurs would increase manifold to add to the country’s image abroad, he said.

Mahmud said South Korea had taken 1,500 workers last year and is expected to take 5,000 this year. He requested the ambassador to recruit more workers from Bangladesh.

He said the government was looking for new ways of sending more workers to global labour market. He stressed the need for coordinated steps by all agencies relating to manpower export to achieve better results.

Tk 340cr boost for Bapex

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Tk 340cr boost for Bapex
Allocation okayed to up capacity, for gas supply to Ctg
Star Report

The Executive Committee of the National Economic Council (Ecnec) yesterday approved a Tk 340 crore project that would help Bapex increase its oil and gas exploration capability and Bakhrabad Gas Field Company to boost gas supply to Chittagong within two years.

Chaired by Prime Minister Sheikh Hasina, Ecnec at a meeting at NEC auditorium also approved a Tk 274.97-crore district road development project in Barisal and Tk-224.98 crore district road development project in Rajshahi zone.

Sources said the around 40-minute-long meeting discussed Bapex and Bakhrabad project under the title of Exploration and Production Capacity Building.

The prime minister expressed her will to revitalise Bapex’s strength and activities and emphasized fast implementation.

Under the project, the Bakhrabad Company along with Bapex will build a 65-kilometer 10-inch pipeline from the recently developed Semutang gas field up to Chittagong. This pipeline would increase gas supply to Chittagong by 20 million cubic feet per day by June 2010.

The tender for the pipeline scheme, which involves a cost of Tk 140 crore, would be completed by June and by June next year construction materials would be mobilised to the project location to complete installation within next 12 months.

The other component of the project deals exclusively with Bapex with a budget of Tk 200 crore. A major part of this money will be spent for purchasing seismic equipment, drilling machine, communication equipment and replacement of the existing work over drilling rig. Bapex’s existing work over rig T80 was procured in 1981-82 and is almost non-functional.

“In addition, Bapex will purchase some exploration support equipment, laboratory tools, computer hardware and software and satellite tracking system,” says a source.

Planning Minister Air Vice Marshal (retd) AK Khandker recognised the fact that Bapex gas sales tariff was only Tk 25 per thousand meter (mcf) when foreign oil companies get almost three dollars in foreign currency, meeting sources said.

Emerging out of the meeting, the minister told reporters the prime minister has asked the authorities concerned to conduct oil and gas exploration properly and implement the projects fast.

He added the government would go ahead with the offshore survey bid. “I think there should not be any objection from any quarters in this regard.”

S Korea to recruit 5,000 workers from Bangladesh

http://nation.ittefaq.com/issues/2009/02/04/news0360.htm

S Korea to recruit 5,000 workers from Bangladesh

Staff Reporter

South Korea yesterday assured that it would recruit over 5,000 skilled and semi-skilled workers from Bangladesh in 2009.

The assurance came during a meeting between State Minister for Foreign Affairs Hasan Mahmud and South Korean Ambassador to Bangladesh Suk-Bum Park in the city.

Briefing reporters Dr Hasan Mahmud disclosed that some 1,500 Bangladeshis found jobs in construction, textile, fisheries, agriculture, electronics and machinery sectors in South Korea last year.

“We’ve the opportunity to send more workers in South Korea as there is still demand of jobs in the East Asian country,” he said.

South Korea last year announced to recruit 50,000 skilled manpower in different phases from 14 countries including Bangladesh to make up for its growing shortages of labor force in the country.

According to sources, Seoul signed a memorandum of understanding (MoU) with Dhaka in 2008 to pave the way for recruitment of skilled Bangladeshi workers by South Korean private companies.

The MoU also protects the interest and rights of Bangladeshi workers in South Korea, where around 19,000 Bangladeshis who are now employed there, sources said.

Bata opens Asia’s largest showroom

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Bata opens Asia’s largest showroom

Robert Mcdougall, Canadian high commissioner in Dhaka, takes a look on shoes at a Bata mega store he inaugurated in the capital yesterday. Photo: BATA

Star Business Report

Bata, the country’s leading shoe-company, yesterday opened a mega showroom, the largest in Asia, at Bashundhara city.

“The new showroom is spread over 11,000 square feet and is the largest showroom for footwear in Asia. We opened it to present various world famous brands and designs under one roof to our clients,” said JD Hearns, managing director of Bata Shoe Company Bangladesh, at the inaugural ceremony.

“World famous brands, such as Bata, Marie Claire, Hush Puppies, Scholl, Ambassador, Weibrenner, Nike and Bubblegummers would be available at this new mega showroom,” he added. The show room is situated on level seven of the Basundhara city mall.

Robert Mcdougall, Canadian high commissioner in Dhaka, inaugurated the new mega store.

The overall market size of footwear in the country is around Tk 1,700 crore per year, of which Bata holds a major share.

Sales figures for Bata stood at Tk 650 crore in 2008, a 30 percent rise over the previous year. The company sales stood at Tk 500 crore in 2007.

Good news for car owners, bad for thieves

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Good news for car owners, bad for thieves
Star Business Report

The telecom watchdog has moved to introduce the vehicle-tracking system, good news for car owners, bad for thieves.

The system can locate any car of its owner or a third party if it installs a GPS (global positioning system) transponder.

Bangladesh Telecommunication Regulatory Commission (BTRC) yesterday posted a guideline on its website to award licences for the vehicle-tracking system to mobile and WiMax operators.

The vehicle tracking system is a value-added service provided through a GPS transponder, which helps track the vehicle’s movement and other activities while both in stationary and running modes.

The system is a convergence of an onboard automotive device, wireless communication and GPS to track vehicles via digital mapping application and reporting information system by using a web-interface, mobile phone and/or computer network.

GPS consists of 32 satellites in different orbits around the world. At any given time, a number of satellites are in view in any place on the earth. A GPS receiver receives information from these satellites and uses it to locate itself.

This service can also be provided through location-based service (LBS) on the mobile network’s ability to locate the geographical position of the SIM subscriber identification module (SIM) or mobile device without employing GPS.

The service allows authorities to set rules against “speed violations” and “harsh braking” and helps implement discipline against the drivers. It reduces the possibilities of rough and dangerous driving and unauthorised vehicle use.

A GPS transponder means a portable device mounted on a vehicle, which acquires vehicle data (position and condition), and transmits data via wireless networks to a designated vehicle-tracking server.

In line with the licensing guideline, vehicle tracking service information is restricted by the subscriber’s privacy and confidentiality, which means information can only be disseminated according to a subscription agreement.

In case of requests from law-enforcement agencies, tracking process will be followed. All the licensees will have to follow this privacy and confidentially with utmost priority, the guideline emphasises.

“The system could be minimise carjacking and help build customer confidence to own a car as well,” said Abdul Haque, former president of Bangladesh Association of Reconditioned Vehicles Importers and Dealers.

Around 10 lakh cars are plying roads in Bangladesh.

Pubali Bank to launch Islamic banking

http://www.thefinancialexpress-bd.com/2009/02/03/57779.html

Pubali Bank to launch Islamic banking

Bangladesh Bank has permitted Pubali Bank Ltd for commencement of Islamic banking activities abiding by Shariah rules.

Pubali Bank Limited Managing Director Helal Ahmed Chowdhury disclosed this saying Islamic banking plays a vital role in the growing economy across the world.

Mr Chowdhury was presiding over the Managers’ Conference-2009 (Dhaka Central, Dhaka North and Dhaka South regions) of the Bank held at the bank’s head office in the city recently.

In his speech, Helal Ahmed said Pubali Bank having largest network in private sector with its 371 branches is serving their clients for a period of 50 years with its up-to-date attitude.

Bangladesh Bank has permitted 15 more branches within this year as a part of its growth programme recently.

Among 15 branches, 2 will be opened in Dhaka city, 3 branches in other cities and the rest 10 will be opened in the rural areas, said a press release.

The branches nominated for Islamic banking are Principal branch in Dhaka and Sylhet Stadium branch of the bank.

He said Pubali Bank started online banking initially in 10 branches of Dhaka, Chittagong and Sylhet. Gradually all branches will come under online system.

The managing director called upon the officials to increase overall foreign exchange business in order to cope with the changes in the environment of the global banking system.

He emphasised exploration and expansion of foreign exchange business by maintaining regular contacts with the importers and exporters and applying modern IT solutions in order to keep the pace of getting business.

General manager of Dhaka North Region Shafiul Alam Khan Chowdhury, General Manager of Dhaka Central Region MA Halim Chowdhury and General Manager of Dhaka South Region Provash Chandra Biswas delivered welcome speech.

General managers of head office and branch managers from Dhaka Central, Dhaka North and Dhaka South regions also attended the conference. Performance of the branches was also evaluated in the meeting and necessary strategy and plans were taken to achieve the target fixed for the year 2009.

Local company to invest Tk 14.92 crore to setup WTP in Chittagong EPZ

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Local company to invest Tk 14.92 crore to setup WTP in Chittagong EPZ

DHAKA, Bangladesh, Feb 2 (BSS)- A local company D-Water Tech Ltd will set up a Water Treatment Plant (WTP) in Chittagong EPZ at a cost of Taka 14.92 crore for producing 10950 lakh gallons purified water annually.

According to a decision of the Bangladesh Export Processing Zone Authority’s (BEPZA) Board of Governors, the authority would allow the company to operate WTP as a service oriented industry in public private partnership model company.

The D-Water Tech Ltd will be installed at 1626.39 sq. meter of area and create employment opportunity for 20 Bangladeshi nationals.

An agreement was signed between the Bangladesh Export Processing Zones Authority and D-Water Tech Limited in BEPZA Complex in this regard today.

Member (Investment Promotion) of BEPZA Prasanta Bhushan Barua and Managing Director D-Water Tech Limited Major General (retd) Jamil D Ahsan signed the agreement on behalf of their respective sides.

Executive Chairman of BEPZA Brig Gen Jamil Ahmed Khan and other officials from respective organizations were present on the occasion.

Bangladesh eyes 15.32% growth in food production

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Bangladesh eyes 15.32% growth in food production

The Bangladeshi government eyes 15.32 percent growth in food grain production in current 2008-09 fiscal year after taking measures like lowering agricultural prices to augment domestic output, officials said on Monday.

The government has targeted 33.43 million tons of food grain production, mainly rice and wheat, in the current fiscal year (July 2008-June 2009) against an estimated production of 28.99 million tons in 2007-08 fiscal year, they said.

Senior spokesman of the Bangladeshi Agriculture Ministry Abdullah-Al-Shahin told Xinhua on Monday, “We hope to reach the food production target as reduction of agricultural inputs prices encouraged more farmers to go for food grain production.”

“Climatic conditions which remained so far favorable can also help us to reach the target,” he said.

The Bangladeshi government last month almost halved prices of some widely-applied non-urea fertilizers aiming to help farmers reduce their cost of agricultural production.

Earlier, in another move to reduce the agricultural prices, the government also cut the prices of diesel which is widely used by farmers for irrigation.

Meanwhile, the overall growth in the agriculture sector output in 2008-09 fiscal year is projected to be in the range of 3.8-4.0 percent, the central bank of Bangladesh said in its quarterly outlook (October-December 2008) released recently.

A senior official of the central bank said the outlook is good as there is so far benign weather condition in the country, with the authorities facilitating timely availability of inputs at reduced prices.

Bangladesh’s agricultural sector shares over 21 percent of the country’s GDP.

Govt to procure vehicles from Pragoti: Dilip

http://www.newagebd.com/2009/feb/02/busi.html#5

Govt to procure vehicles from Pragoti: Dilip
Bangladesh Sangbad Sangstha . Chittagong

The industries minister, Dilip Barua, on Sunday said necessary steps would be taken to procure vehicles assembled by Pragoti industries for government uses.

During his visit to Pragoti Industries Ltd in the Sitakunda industrial area, the minister said that process would be initiated soon to buy 471 vehicles for upazila chairmen from the industry.

The PIL is an enterprise of the Bangladesh Steel and Engineering Corporation and the country’s lone public sector medium and heavy vehicle assembling facility.

The minister said a time-befitting industrial policy would be announced soon for balanced growth of industrial sector of the country.

Necessary provision will be incorporated in the new industrial policy for the expansion of the PIL enabling the factory to produce quality vehicles and provide upgraded services to the clients, he said.

Assuring all-out support from the government to turn the enterprise profitable one, Dilip Barua called upon the workers to put their efforts to produce economically viable and quality vehicles to raise image of the company.

The PIL managing director, Jahir Uddin Chowdhury was present.

Dilip stresses flourishing motor industry

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Dilip stresses flourishing motor industry
Unb, Chittagong

Industries Minister Dilip Barua said the government would give priority to flourish motor industry alongside the other industrial units in creating employment opportunity for the unemployed population.

“For this, auto assembling plant Pragati Industries Limited under BSEC will be modernised and expanded. Necessary guidelines in this regard will be given in the new industrial policy,” the minister said while visiting Pragati Industry at Sitakundu yesterday.

The minister laid emphasis on united efforts and good relations between the workers and owners for increasing production in the industrial units.

Terming the workers as the “mechanic of civilization”, he called upon them to work with the new spirit to establish an industry-base “Digital Bangladesh” by 2021.

Later, the minister witnessed auto-assembling process in the factory.

Software sector likely to earn $500m by 2014

http://nation.ittefaq.com/issues/2009/02/02/news0206.htm

SoftExpo-2009 ends on a high note: Software sector likely to earn $500m by 2014

NATION BUSINESS REPORT

Government and private sector stakeholders of the country’s software and IT-enabled services (ITES) sector have pinned hope on Saturday that the highly promising sector will earn US$500 million by the year 2014 as curtain fell on the biggest ever software exposition, SoftExpo-2009, on a high note. This year, the annual exposition of Bangladesh Association of Software and Information Services (BASIS) witnessed lots of enthusiasm among and promises from the government and private sector stakeholders aiming at creating a truly digital Bangladesh within next few couple of years.

Organisers claimed that a total of around five lakh people visited the exposition this year. Even on the last day of the five-day extravaganza, there was long queue in and outside the expo venue – Bangladesh-China Friendship Conference Centre (BCFCC).

A good number of business leads were generated through this year’s fair which has been marked by the active participation of nine countries for the first time. Adviser to Prime Minister Dr Syed Modasser Ali was the chief guest at the closing ceremony.

Commerce Secretary Feroz Ahmed and Science and ICT Secretary Md Nazmul Huda Khan were present as special guests.

Among others, BASIS President Habibullah N Karim, BASIS Director MA Mubin Khan, and BASIS Chairman of the Standing Committee on National Events A Towhid were also present during the closing ceremony. As in the past, this year’s SofExpo was also marked by a series of policy-level seminars, workshops, product display and business match-making with the foreign visitors. BASIS SoftExpo-2009 also illustrated the huge potentials in resources and skills available in Bangladesh. The organizers hope to attract local and foreign investors catering to expansion of outsourcing market in the ever-growing ICT sector of Bangladesh.

Habibullah N Karim at the closing ceremony said, ‘The software and IT institutes will work to materialise the dream of ‘digital Bangladesh’ if we get the required support from the government.’

With four foreign companies from the USA, Singapore, Sri Lanka, and Saudi Arab, 93 organisations including three universities showcased their products and services in 122 stalls and eight pavilions.

ICT companies, international ICT associations, local software development companies, successful ICT projects initiated by multinational and local companies, government departments and agencies implementing e-governance projects, ICT training institutes and universities took part in the expo.

The 281-member Bangladesh Association of Software and Information Services arranges the annual event to exhibit the software and IT services in Bangladesh.

This year, Ministry of Science and ICT was the co-organizer while ICT Business Promotion Council (IBPC) and GrameenPhone Limited were the sponsors of the BASIS SoftExpo-2009. The media partners were The Daily New Age, ATN Bangla, bdnews24.com, Computer Bichitra and Radio Today. Organizers informed that the next SoftExpo would be held during February 27-13, 2010.

Government to maintain BBBF

http://www.newagebd.com/2009/feb/01/front.html#15

Government to maintain BBBF
Bdews24.com . Dhaka

The Bangladesh Better Business Forum will be kept functioning to strengthen the country’s economy, said the finance minister on Saturday.

‘We have decided to continue with the activities of the BBBF, on request of the Federation of Bangladesh Chambers of Commerce and Industry and other business organisations. It will be reconstituted in a cabinet meeting very soon,’ Abul Maal Abdul Muhith told Bdnews24.com.

The BBBF was formed in 2007, and led by former chief adviser Fakhruddin Ahmed.

The FBCCI welcomed the decision to continue the business forum.

‘The BBBF has performed well as an institution for the last two years. It helped many decisions to get fast tracked as the head of the government was its chief,’ FBCCI president Annisul Huq told the news agency.

‘There was very little red tape, so to speak,’ he said.