PMO finalises draft of PPP policy

http://www.thefinancialexpress-bd.com/more.php?news_id=94711

PMO finalises draft of PPP policy
Nazmul Ahsan

The Prime Minister’s Office (PMO) has finalised a draft Public-Private Partnership (PPP) policy keeping provision for promoting local investors in implementing infrastructure projects each costing up to $10 million.

Provisions for extra and special fiscal incentives have been incorporated in the policy for large PPP projects as well.

The draft policy, styled ‘Bangladesh Public-Private Partnership Policy and Guidelines’ will replace the existing Bangladesh Private Sector Infrastructure Guidelines (BPSIG), sources said.

The PPP policy has redefined infrastructure projects into three categories-large project (above $10 million), small project ( (above $1 million to $10 million) and very small project(up to $1 million).

The draft policy has included provisions such as direct negotiation for awarding contract for large projects, exit policy for investors, PPP budget and Annuity Payment Fund , which, according to sources, is a new concept.

At least 16 modalities have been included in the draft to implement projects under the PPP initiatives. The policy said a PPP Cell will be established in the Board of Investment, under the PMO.

The draft policy has recently been sent to the Cabinet Division for approval, sources confirmed.

According to the draft policy, line ministries and executing agencies will encourage local investors through awareness creation and motivation to participate in infrastructure projects.

‘A target over the next five years is to achieve at least 10 per cent equity to be taken up by local entrepreneurs for large PPP projects and up to 100 per cent for small PPP projects,’ the draft policy said.

Officials in the BOI said to attract local investors, definitions and number of projects have been changed in the PPP Policy.

The BPSIG has two types of projects-large projects each costing $25 million or above) and small projects (each costing less than $25 million).

The new PPP policy has proposed to establish a 19 member Public-Private Partnership Council to be headed by the Prime Minister. Most of the members of the council are government ministers including finance, planning, commerce and law.

The PPP policy also provides for the formation of a 11-member Public-Private Infrastructure Committee to be headed by Principal Secretary, PMO. However, only representatives from private sectors have been included in the committee.

The draft policy has included 16 modalities for implementation of PPP related projects. These are Build-Operate-Transfer, Build-Own-Operate, Build-Own-Operate-Transfer, Capitalisation, Design-Build-Finance-Operate, Securitization, Build and Transfer, Build, Lease and Transfer, Build Transfer and Operate, Lease Management Agreement, Management Contract, Rehabilitate-Operate-Transfer, Rehabilitate-Operate-Maintain, Service Contract, Supply-Operate-Transfer and Joint Venture Agreement.

The Policy has underscored the need for a strong role of the Planning Commission in identifying and promoting PPP related projects.

‘A Project Fair shall be organised by the Planning Commission once in every year to promote the PPP projects. The Commission could utilize this fair to introduce PP projects in the national planning process.’ The policy said.

‘PC shall present these projects in the fair for the assessment of the investor’s interest and will develop a list of potential PPP projects after feedback from the fair.’

Officials in the PMO said the draft PPP Policy is an unique guidelines and would attract both local and foreign investors for investing in projects under the PPP initiative.

Earlier, a Cabinet meeting, held in October 2009, rejected a proposal of the Ministry of Finance that proposed to establish PPP Cell in the Finance Division and execution of all necessary activities relating to PPP projects from the ministry. The Cabinet asked the BOI to do everything necessary towards making the PPP concept a success.

Separate company planned for creating power and energy fund

http://www.newagebd.com/2010/mar/11/busi.html#3

Separate company planned for creating power and energy fund
Staff Correspondent

The government may form a separate company to manage a proposed special fund of Tk 2,500 crore to be raised from public and private sectors for investing in power and energy projects, said officials concerned.

The relevant technical committee recommended formation of such a company at a meeting presided over by the prime minister’s energy adviser, Tawfiq-e-Elahi Chowdhury, at the power and energy ministry on Wednesday.

Ziaul Hasan Siddique, the Bangladesh Bank deputy governor and head of the committee, made a presentation on the proposed fund at the meeting.

Earlier in October, 2009 the government formed the committee comprising officials of the Securities and Exchange Commission, Dhaka Stock Exchange, Petrobangla, Power Development Board and private and public commercial banks and non-banking financial institutions. It has been assigned to make recommendations on how a separate fund could be floated for power and energy projects.

The committee recommended formation of a separate company titled ‘Bangladesh Energy and Power Investment Fund’ to deal with the mattes of raising funds.

It also recommended raising funds from the government’s public-private partnership fund and also from the gas development fund for the company.

The committee has been asked to make more recommendations on the company structure and the sharing of profit, the power secretary, Mohammad Abul Kalam Azad, told New Age.

He, however, said the size of the fund was yet to be finalised.

He said that once the committee submitted its recommendations by April, they would present the details of floating a special power and energy fund before the finance minister, Abul Maal Abdul Muhith.

‘Approval by the cabinet will be required for floating such fund under a company,’ he said.

The government wants to install power plants with around 7000MW of capacity in next few years. Around $7 billion investment will be needed for the purpose.

Exports rise 3.49pc in January

http://www.thefinancialexpress-bd.com/more.php?news_id=94693

Exports rise 3.49pc in January
Monira Munni

The country’s exports in January rose 3.49 per cent to US$1.426 billion from the same period last year, the first positive growth after two straight months of decline.

Overseas sales surged by 18 per cent in January compared to December last year when the country shipped products worth $1.172 billion.

Exports fell 7.70 per cent in November and 1.92 per cent in December compared to the same period a year ago as the global economic crisis belatedly affected the country’s main foreign exchange earners.

Exports in July-January period of 2009-10 fiscal year, fell 4.7 per cent to $8.70 billion from the same period in the previous year, data from the Export Promotion Bureau (EPB) showed on Wednesday.

Although exports plummeted in November and December, the overall export in January was on the rise, indicating that Bangladesh is recovering from the global crisis, Shahab Ullah, vice chairman of EPB, told the FE.

“Despite lower growth in the last two months, I have seen that export performances in January are better, meaning the fall is reversing,” he said. “We are optimistic about the overall positive growth at the end of February.”

Exports of raw jute, jute goods, pharmaceuticals and melamine tableware in the last seven months showed a surplus growth, reporting an increase of 38.45, 48.69, 22.77 and 200 per cent respectively.

Decline in apparel exports, followed by leather, frozen foods, chemical and agro-based products largely contributed to the plunging effect, exporters claimed.

“It appears that our major export markets are still vulnerable to the effects of global recession though the shipment was on the rise in January,” they commented.

The EPB data showed export of knitwear products decreased by 6.85 per cent to $3543.01 million in the seven months of FY 9-10. During the corresponding period of FY 8-09, the country earned $3803.57 million from knitwear exports.

“It reflects that the recession is not over yet,” Fazlul Hoque, president of Bangladesh Knitwear Manufactures and Exporters Association (BKMEA), told the FE.

He termed the recession as one and only reason for this fall. “Since we failed to take necessary action the recession’s grip kept on further tightening.”

He urged the government and all stakeholders related to the country’s export sector to take the issue more seriously before it’s too late.

Downward turn in knitwear export was followed by the woven garments as well. Shipments of woven garments were worth $3152.92 million, down by 6.99 per cent from $3389.99 million earned during the same period last fiscal year.

2 Bay sites identified for floating LNG terminal

http://www.newagebd.com/2010/mar/11/busi.html#4

2 Bay sites identified for floating LNG terminal
Staff Correspondent

A US-based company has apprised the government that a ‘floating terminal’ for emergency import of liquefied natural gas could be installed in the Bay of Bengal within 10-14 months.

The government has primarily selected two sites near two Bay of Bengal islands.

Officials of the Excelerate Energy, which is required to participate in a tender for installation of the terminal, made a presentation on the company’s views on installation at a meeting at the power and energy ministry on Wednesday.

Ministry high ups including the prime minister’s adviser, Tawfiq-e-Elahi Chowdhury, and the state minister, Md Enamul Haque, and the company officials on Tuesday visited some locations in the Bay to identify a site for installation of the terminal for unloading of liquid gas.

The team that also included Petrobangla and Power Development Board officials, primarily selected two sites near Matarbari and Moheskhali islands for installation of a terminal that would supply around 500 million cubic feet of gas per day to the national grid.

The company officials said that one of four kinds of floating LNG terminal – two having undersea gas transmission line and two others with floating line — could be installed in the Bay, according to officials.

Petrobangla chairman Hossain Mansur told New Age that they had learnt about the company position. ‘More companies will come to make presentation on what they have to offer. We will go for tender once we complete learning from different companies.’

Petrobangla officials said that draft of water, around 30 meters, near Moheshkhali would be suitable for installation of a terminal.

The terminal would transform the imported LNG into gas and then the gas would be supplied through an 85 kilometre long and a 30-inch diametre pipeline to the national grid in Chittagong.

Mansur said that the World Bank was interested in funding a feasibility study for installation of a LNG terminal.

$8m Chinese investment in Ctg EPZ

http://www.newagebd.com/2010/mar/11/busi.html#7

$8m Chinese investment in Ctg EPZ
Bangladesh Sangbad Sangstha . Dhaka

A Chinese company, Messrs Universal Hats and Bags Manufactures Limited, will invest $8 million in the hats and bags manufacturing industry in the Chittagong Export Processing Zone.

BEPZA (investment promotion) member Moyjuddin Ahmed and Universal Hats and Bags general manager Zhang Wen Sheng signed the agreement on Wednesday at the BEPZA complex in Dhaka, said a BEPZA release.

The foreign-owned company will invest the sum in setting up their unit and will produce hats and bags. The company will create employment opportunity for 3,000 Bangladeshi workers.

BEPZA executive chairman Jamil Ahmed Khan, member (finance) Mahabubur Rahman, secretary AZM Azizur Rahman Shawkat Nabi, general manager (investment promotion) Korshed Alam, among others, were present on the occasion.

Bangladeshi cos invited to take part in HK fairs

http://www.thefinancialexpress-bd.com/more.php?news_id=94691

Bangladeshi cos invited to take part in HK fairs
FE Report

Hong Kong Trade Development Council (HKTDC) Tuesday invited Bangladeshi companies to participate in their fairs held throughout the year in Hong Kong and gain international exposure that would facilitate both buyers and sellers.

“We offer Bangladeshi companies an opportunity to exhibit their products and also choose the most appropriate technologies for their industrial enterprises from a wide range of selection during HKTDC events,” sales manager of HKTDC Candy Kwan said.

HKTDC organises over 30 trade fairs a year in Hong Kong. Among them eight are the largest of their kind in Asia while three are the largest in the world.

In 2010, the Council will continue to hold trade fairs to facilitate global trade, some of which hold potentials for Bangladeshi companies which are interested in expanding their business or in consolidating their position in the region, Ms Candy Kwan said.

She was addressing a press briefing organised to portray the opportunities for Bangladeshi participants and visitors.

Speaking on the occasion, Ms Candy Kwan especially emphasised on Bangladeshi apparel industry which can gain maximum international penetration under a single roof as their organised exhibitions attracts thousands of visitors from all over the world.

“Apart from local participants, the Hong Kong exhibition was attended by 550,000 international buyers and 27245 overseas participants in 2009,” she claimed.

Hong Kong’s intrinsic geographical, economic, political and social competitiveness make it the best trade destination for Bangladeshi companies, in particular for its free trade policy, world-class infrastructure and free flow of information, Ms Kwan said.

The total trade value of Hong Kong and Bangladesh in 2009 reached US$710 million. To harness the business potential, of Bangladesh, we will market our fairs intensively to encourage more trade with this market,” she added.

She named some of the upcoming events like Hong Kong International Home Textiles Fair (20 to 23 April), Hong Kong Houseware Fair (20 to 23 April), HKTDC Hong Kong Fashion Week for Spring/Summer (5 to 8 July), Hong Kong International Tea Fair (12 to 14 August), Food Expo (12 to 16 August), Hong Kong International Printing and Packaging Fair (27 to 30 April) and Eco Expo Asia (3 to 6 November) and urged Bangladeshi business community to participate as exhibitors and visitors.

Science and tech varsity to be set up in Rangamati: Nahid

http://www.bssnews.net/newsDetails.php?cat=10&id=94052&date=2010-03-10

Science and tech varsity to be set up in Rangamati: Nahid

RANGAMATI, March 10 (BSS) – The government has taken up an initiative to establish a science and technology university in Rangamati as pledged by Prime Minister Sheikh Hasina.

As part of the initiative, Education Minister Nurul Islam Nahid visited four proposed sites today for establishing the university.

The work for setting up the university will begin within this year for protecting the interest of the people of the area, said the minister while visiting the sites.

The four proposed sites are Rangapani under Rangamati municipality, Awlad Bazaar under Magaban union, Balukhali and Keillamura.

State Minister for Chittagong Hill Tracts Affairs Dipankar Talukder, Chairman of Taskforce on Refugees Jyotindra Lal Tripura, Chairman of Rangamati District Council Nikhil Kumar Chakma and Deputy Commissioner of Rangamati Surendra Nath Chaterjee were with the minister.

Govt to create fund for energy sector

http://www.thefinancialexpress-bd.com/more.php?news_id=94563

Govt to create fund for energy sector
Sheikh Shahariar Zaman

The government is going to create first ever fund for energy sector to encourage public-private partnership (PPP) projects with an option to raise money from the capital market amid growing power outage and demand.

It will be a general pool of fund operated under a company and it will be used in PPP projects on equity or debt basis.

The projects can also have the option to raise fund from the stock market to gather necessary funding.

The government would create the fund to encourage the private sector to come forward with new energy-related projects.

A committee, which was assigned to find out a way to raise funds for the power sector, submitted its report to the government recently. Deputy Governor of Bangladesh Bank Ziaul Hasan Siddiqui headed the committee.

Initially, the government would provide Tk 15 billion (1,500 crore) as seed money for the fund and Tk 10 billion will be raised from non-resident Bangladeshis and other investors, said Securities and Exchange Commission (SEC) member Mohammed Yeasin Ali, also a member of the committee.

The fund will be a ‘patient capital’ which means the return from the investment will be long-term in nature but with commercially viable profit, he said.

“A potential entrepreneur can seek investment and if the project is viable the fund will provide a portion of the cost,” he added.

The entrepreneur will have to invest from his own pocket and he can also raise funds from the stock market, Mr Yeasin said.

It will be a mixture of investments from individuals and the fund; and the investor can also raise an amount from the stock market, he explained.

An experienced manager will be appointed to manage the fund and he will ensure the profitability from the projects financed, he added.

Chairman of Bangladesh Power Development Board (PDB) ASM Alamgir Kabir said foreign direct investments or the government can finance the big projects, but this fund will be used to finance small-scale projects.

“Mega power plants or gas exploration projects need huge investments and the fund cannot cater to the need of such projects,” he said.

The fund can finance joint ventures or other small-scale projects of may be 100 megawatt (mw) capacity, he added.

The government has plans to generate 8,000 mw power in the next five years and it needs about $7 billion for that, Mr Alamgir said.

The committee proposed that the fund will be a limited company for long-term capital appreciation and it will only consider those projects which have over 15 per cent internal rate of return (IRR), the report said.

The government’s seed money of Tk 15 billion can be channelised from the Tk 25 billion PPP fund earmarked in the current budget, it added.

More five-star hotels planned

http://www.thedailystar.net/newDesign/news-details.php?nid=129250

More five-star hotels planned

Sayeda Akter

Unique Group, the owning company of Westin Dhaka, is set for expansion by opening three more five-star hotels to tap growing demand for high-heeled accommodation.

Initially, the company plans to invest around Tk 2,000 crore for expansion, while Starwood Hotels and Resorts Worldwide will be the managing company for all three hotels.

A deal will be signed today between Unique Group and Starwood, the parent company of renowned global brands such as Westin, Sheraton and Le Meridien.

“At present, the local market for five-star hotels is increasing at a rate of 15 percent a year, and it will double in the next three years,” said Mohammad Noor Ali, managing director of Unique Group.

“So as an investor, I have to look to the future and plan on capturing the country’s hospitality business in the long run. And that is the main reason behind this expansion plan.”

Under the plan, two five-star hotels are to be constructed in Dhaka: Le Meridien in Banani and The Westin Dhaka 2 in Gulshan. A third, also named Westin, will open in Chittagong, the first five-star hotel for the commercial capital.

Construction of the hotels will be complete by 2012-end and all are likely to begin operations the following year.

“Simultaneously, I have Starwood, one of the best hotel management companies in the world, with me, which gives me added confidence,” said Ali, also the managing director of Westin Dhaka.

In recent years, the hospitality sector in Bangladesh has boomed in the five-star hotel segment. Three new five-star hotels opened in Dhaka in the past four years, taking the number to five.

Industry experts said the capital city now has around 1,250 five-star rooms. The hotels reach full occupancy only in winter and an average occupancy rate of around 75 percent can easily make the business profitable, they added.

“One of the drivers of growth has been the increase in foreign business people visiting the country, as both the garments and telecom industries have taken off,” said Ali.

“Apart from that, the geographical location of these hotels will also exploit the proximity to airport and the garment belt in Ashulia-Savar, as well as the headquarters of the major mobile telecom operators,” he said. “The country’s diplomatic zone is also near our hotels.”

Ali is optimistic about profiting from the hotel in Chittagong, as the number of affluent visitors, including investors, top officials from banks and port, and shipping businessmen, are increasing fast in the region.

The company is conducting studies to assess demand for accommodation and the regular flow of guests to the port city. The room rent for the Westin in Chittagong will be slightly lower than in Dhaka, said the Unique Group chief.

The annual turnover of Westin Dhaka was Tk 106 crore, and the operating profit was around Tk 47 crore in 2008, which grew by 20 percent in 2009, Ali said.

The 235-room Westin has an average occupancy of 80 percent, while the hotel has gained a 25 percent share of the total market.

sayeda@thedailystar.net

ICT revolution keeps country’s agriculture in leading position in South Asia

http://www.bssnews.net/newsDetails.php?cat=0&id=93502&date=2010-03-08

ICT revolution keeps country’s agriculture in leading position in South Asia

DHAKA, Mar 8 (BSS) – The country has witnessed a considerable growth in the production of staples (rice, wheat and maize) for over a last decade as a result of ICT revolution, said an in-depth study.

The study titled “Technology and Human Development in South Asian’ said the growth in the rice economy has primarily been the outcome of a shift from local to high-yielding varieties (HYVs).

Mahbub ul Haq Human Development Centre (MHHDC), a leading independent research organization conducted the study, which was released here recently.

The higher growth in the staples has kept Bangladesh in dominating position in the region, the study said pointing to the 3.6 percent growth during 1996-2008.

The production of rice increased from 17.68 million metric tons in 1995-96 to 28.37 million metric tons in 2007-08 as the
hybrids have come on the scene resulted in technological developments.

The study observed that Bangladesh’s agriculture sector must be lauded as a comparatively bright spot against the backdrop of the experience elsewhere in the region.

For an instance, it said, per capita production of staples (rice, wheat and corn) has grown at a much lower rate of 1.1 per1cent annually in India.

The study, however, said the prominence of wheat in the crop mix has waned significantly since the late 1990s and its place seemed to have been taken by maize (corn).

The roll-out of maize is entirely driven by the private sector but hybrids have not been scene in the cultivation like rice.

It was revealed in the study that the improvement in agricultural yields, multi- disciplinary research and rural electrification would be most prolific drivers to cut rural poverty in Bangladesh.

Adoption of seed-water fertilizer technology has rolled back the growing season, shortened production cycles and enhanced cropping intensity.

The agriculture has now around 23 percent contribution to the gross domestic product (GDP) of Bangladesh.

BEPZA signs deal to lease Adamzee EPZ plots

http://www.newagebd.com/2010/mar/09/busi.html#23

BEPZA signs deal to lease Adamzee EPZ plots
Business Desk

Bangladesh Export Processing Zone Authority singed an agreement with T&S Buttons Bangladesh Limited to lease plots in the Adamjee EPZ at a ceremony in Dhaka recently.

BEPZA chairman Jamil Ahamed Khan and Brandot International USA president Martin Trust, who is representing joint venture company T&S Buttons Bangladesh Limited, signed the agreement, said a news release.

T&S Buttons Hong Kong president David Chan and Ananta Group managing director Sharif Zahir, on behalf of the other partners of the joint venture, were also present on the occasion.

The new joint venture company will manufacture metal buttons, rivets, and other accessory items. The company will export products to other South Asian countries as well.

BICF supporting BoI to create online registration system

http://www.thefinancialexpress-bd.com/more.php?news_id=94340

BICF supporting BoI to create online registration system
FE Report

The Bangladesh Investment Climate Fund (BICF) that has been working with the government of Bangladesh to help achieve its vision of a digital Bangladesh showcased a wide range of investment enhancing e-governance services at the Digital Public Innovation Fair, said a press release.

The fair concluded in the city Sunday.

These e-governance services are promoting the automation of various critical government support services that could help pave the way for a better investment climate in Bangladesh.

The BICF has been supporting the Bangladesh Board of Investment (BoI) to create an online registration system and design a new web site (www.boi.gov.bd) that was launched at the fair. This web site will support the interests and needs of foreign and local investors and eliminate steps in the registration process. It provides international business investors with all information, contact points, and service commitments they need.

The BICF also helped the government create an electronic library, a web site where the latest versions of all business related laws, acts, rules and regulations, licenses, and related forms are available. This online library, which was also launched at the fair, will make it possible for small businesses located all over the country to easily, efficiently, and inexpensively search out the rules and regulations that apply to them. This will not only improve the public’s access to information, but also help reduce regulatory transaction costs and risks and improve transparency and accountability.

BICF supported the Ministry of Land to modernise land administration and ensure good governance in the land administration sector by establishing a digital land survey, land management and land information system. This system will improve the efficiency of the land administration processes, increase transparency in land administration, and ensure easy and fast access to land information and services, reduce the incidence of land disputes and litigations, create an efficient property market and increase government revenues from land.

Potato in for industrial use

http://www.thedailystar.net/newDesign/news-details.php?nid=129133

Potato in for industrial use
Flakes, starch and chips makers push demand

Sohel Parvez

Potato farming for industrial use is gaining a momentum, opening scope for the existing and prospective flakes, starch and chips makers to get supply of raw materials to boost operation.

Market insiders said a number of business houses and big farmers have already started scaling up their stocks and production of industrial potato seeds to cash in on the demand at processing factories at home and abroad.

“It has a huge business prospect. We are multiplying seeds of industrial potato for domestic potato processing factories and export,” said Md Abdul Hye, general manager of PHP Agro Products Ltd, a concern of PHP Group.

Starting production of such a seed variety, Lady Rosetta, in around 50 acres of land in fiscal 2008-09, PHP planted the variety in 235 acres in Thakurgaon district in the current fiscal year.

“The variety we are growing has 25 percent dry matter content. It’s higher than the existing varieties’. Most varieties here contain less than 20 percent of dry matter content, which is not good for processing,” he said.

Dry matter content of potatoes is of key importance for the texture of the final product. Also yield and fat content are affected by dry matter content.

Operators said processing factories need higher dry content to get better output.

In Bangladesh more than 50 lakh tonnes of tuber are produced every year, but the available varieties such as Diamond are economically less viable for making flakes, starch and chips, said processors and seed marketers.

“It requires seven to eight kilograms of potato of Diamond variety to make one kg of flakes, starch or chips because it has less dry content,” said Mohammad Nafisur Rahman, director of South Pole Seeds Ltd, which markets seeds of Lady Rosetta variety.

Rahman said the company is witnessing a rising demand for the seeds of processed variety potato since it has started marketing in 2008.

The seed marketers said potato plantation for industrial use is on the rise in the districts such as Rangpur, Dinajpur, Thakurgaon, Joypurhat, Rajshahi and Munshiganj.

“Such farming is gradually picking up. But it was quite tough to convince people to cultivate industrial varieties of potato three to four years ago,” said Anwarul Huq, owner of Blue Moon International, which has been marketing industrial varieties of potato seeds since 2006.

“Our sales (of these seeds) grew eight times to around 400 tonnes in three years to 2009,” he said. “Demand for the processed potato varieties will continue to rise because of increasing consumption at the factories.”

The seed marketers and some growers said cultivation of potato for industrial use also offers promise of higher price compared to the potato varieties used for household consumption.

Ibrahim Khalil, a farmer in Munshiganj, said he has received higher price for cultivating potato for industrial use. Some factories and exporters are contacting me for such potatoes, he said.

“It has saved me from losses this year. Had I cultivated potato, such as of Diamond variety, for household consumption, I would have incurred losses due to fall in price this year,” said Khalil who planted processed variety of potato in 50 acres in the immediate past season.

Khalil said he expects to grow potato in 200 acres next year.

“Increased farming of potato for industrial use will make our business easier,” said Mahbubul Alam, general manager of Kashem Food Products Ltd, which is set to enter domestic chip market shortly.

“Apart from export potential, the cultivation will help the farmers get a guaranteed market as we, the processors, will buy a certain amount of potato from them every year to run our factories,” he said.

Women making progress in entrepreneurship

http://www.newagebd.com/2010/mar/08/busi.html#1

Women making progress in entrepreneurship
Kazi Azizul Islam

Bangladeshi businesswomen have come a long way overcoming social barriers to joining business in the past three decades or so, say many of them.

Some of them have transformed themselves from housewives to entrepreneurs and even to business leaders, showing the way for a generation of female businesspeople to take new ventures.

Today, according to the businesswomen, they have built confidence of the policymakers in them and become entitled to policy and financing supports from the government.

A recent Bangladesh Bank report proves increasing interests of women in business as the credit disbursement from the central bank’s refinancing scheme rose 224 per cent for medium-term loans, 118 per cent for short-term and 100 per cent for long-term loans.

‘Unlike now, female officers were hardly seen in the banks when I joined business. There were rarely any women entrepreneurs,’ Rokeya A Rahman recalled her days of the early 1980s when she embarked on banking career before initiating her own business.

She said the women, especially the rural ones, at that point in time had to break the people’s mindset that the ‘women are born for staying at home, not to work for making money’.

Rokeya, founding president of Women Entrepreneurs Association of Bangladesh, started with a 2,000-tonne capacity cold storage in North Bengal. She now owns two units with combined capacity of preserving 10,000 tonnes of potato and has stakes in insurance and capital financing companies.

More than 50 per cent contemporary women entrepreneurs have begun their career in business immediately after completing academic studies, found a survey by Bangladesh Women Chamber of Commerce and Industry headed by Selima Ahmad.

About one-fourth of the businesswomen were just housewives before they entered businesses earlier run mainly by their husbands, showed the survey which covered 500 businesswomen in urban and semi-urban areas.

‘It is an encouraging sign that more and more women are becoming managers or entrepreneurs,’ said Selima, also a director of Nitol Group.

‘I see women here contribute a lot of success stories to the economy,’ said Heather Vairava, deputy chief of economic section at the US embassy in Dhaka.

Heather, who has been staying in Bangladesh for than two years and a half, pointed out that several million female garment workers had taken Bangladesh to its present position in the global market. ‘The country can take pride of the smart entrepreneurship of the rural women who proved success of the micro-credit as a global model,’ she added.

Shipbuilders get permission for association

http://www.thedailystar.net/newDesign/news-details.php?nid=129141

Shipbuilders get permission for association
Star Business Desk

The commerce ministry gave permission to shipbuilders to form an association, Ananda Shipyard and Slipways Ltd (ASSL) said in a statement yesterday.

The body will be named Association of Export Oriented Shipbuilding Industries of Bangladesh.

Abdullahel Bari, chairman of ASSL, terming the move “excellent” and said: “It’ll let Bangladeshi shipbuilders achieve the international standards to a great extent.”

All shipyard owners will be brought under the association soon, ASSL added.