Gulshan Westin Hotel owner Mr Noor Ali is opening five new 5-star hotels in Bangladesh. Three new hotels will be in Dhaka and one each in Chittagong and Cox's Bazar. His company Unique Hotel, with 230 crore paid-up capital, has already started the IPO listing process in Dhaka Stock Exchange (DSE).
This shows Bangladesh's hyper growth prospect. The country had only a total of five 5-star hotel from the begining of time till now. But it will add five such 5-star hotels by just one operator in the next few years. And other operators both domestic and international are planning many such 5-star hotels on different parts of the country. Tourism, by both domestic and international vacation lovers, and business travel are new booming sectors of the country. These are clear signs of a new Asian Tiger economy.
Wednesday, September 1, 2010
Monday, August 30, 2010
Largest Scandanavian hedge fund Brummer creates investment fund for Bangladesh
Sweden's biggest private equity fund creates an investment fund for Bangladesh - read this very interesting story. Khalid Quadir, brother of Iqbal Quadir who was a founder of Grameen Phone, manages this Brummer and Partners investment fund in Bangladesh.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abOlqUUVJMtM
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abOlqUUVJMtM
New Multi-billion dollar size projects starting in Bangladesh
A new International Hub-like Airport in Dhaka ( like Dubai, Singapore) is to be constructed in Trisal at $7billion in PPP model ( aiport builder brings the investment, govt gives the land ). It is to be named Bangabandhu International Airport and will have three run-ways. To manage Dhaka's traffic gridlock, a new elevated expressway from the new airport going all the way to Narayanganj via various Dhaka exits. Price tag about $2billion. Padma bridge, Kaliakoir IT park, Janata Tower IT Park (at Kawranbazar), road links to China and Myanmar from Chittagong sea-port, access to Mongla and Chittagong ports for India, Nepal, Bhutan, new deep sea port at Sonadia, Ruppur 2000 megawat Nuclear power plant near Ishwardi to be built by the Russians, Summit Power of Bangladesh and USA GE Power's investment relationship and the various power plant projects recently sanctioned to be done quickly are the important infrastructure projects in the country that can transform its economy like the East Asian high-growth countries, commonly referred to as Asian Tigers.
On top of that massive garment industry growth ( $10 billion annual export in 2009-2010) and mobile industry growth and Digital Bangladesh projects to deploy govt services via IT to masses at Upazila and even Union level is bound to have large positive economic impact.
There is tremendous interest among international infrastructure companies to win these various large minfrastructure projects in Bangladesh and many reputable world class companies are competing to win these multi-billion dollar size projects. So Bangladesh does not seem to have problem now attracting top global vendors and have them bring large size investments. Good news is that many of these vendors will be picking local Bangladeshi or NRB companies to do part of the projects and thus spread part of this large wealth among the local entreprenuers.
Large scale economic growth is taking place in B'desh despite the problems we are all aware of. Since the current AL led government is hell bent on solving power generation and traffic problem, China & India like 8% to 12% yearly economic growth may be in the cards in a couple of years when some of these projects start.
On top of that massive garment industry growth ( $10 billion annual export in 2009-2010) and mobile industry growth and Digital Bangladesh projects to deploy govt services via IT to masses at Upazila and even Union level is bound to have large positive economic impact.
There is tremendous interest among international infrastructure companies to win these various large minfrastructure projects in Bangladesh and many reputable world class companies are competing to win these multi-billion dollar size projects. So Bangladesh does not seem to have problem now attracting top global vendors and have them bring large size investments. Good news is that many of these vendors will be picking local Bangladeshi or NRB companies to do part of the projects and thus spread part of this large wealth among the local entreprenuers.
Large scale economic growth is taking place in B'desh despite the problems we are all aware of. Since the current AL led government is hell bent on solving power generation and traffic problem, China & India like 8% to 12% yearly economic growth may be in the cards in a couple of years when some of these projects start.
Economic news site of Bangladesh, meet Walton Elec
The following is a web portal containing important economic news of Bangladesh and updates regularly.
http://www.bangladesh-economy.org/ . Sites like this are needed as regular press in Bangladesh do not cover economic news well.
Also check out Walton Electronics of Bangladesh (http://www.waltonbd.com/). They manufacture Motor cycles, LCD TV, Refrigerators, Microwaves in Bangladesh using German know-how and seem to also export to foreign countries. Walton plans to IPO in a couple of years. You will see their advertisement in Bangladeshi private TV channels all the time and they seem not be able to make enough quantities to sale from their many showrooms for the upcoming Eid ( their demand is so high, no slowdown like USA in Bangladesh ).
http://www.bangladesh-economy.org/ . Sites like this are needed as regular press in Bangladesh do not cover economic news well.
Also check out Walton Electronics of Bangladesh (http://www.waltonbd.com/). They manufacture Motor cycles, LCD TV, Refrigerators, Microwaves in Bangladesh using German know-how and seem to also export to foreign countries. Walton plans to IPO in a couple of years. You will see their advertisement in Bangladeshi private TV channels all the time and they seem not be able to make enough quantities to sale from their many showrooms for the upcoming Eid ( their demand is so high, no slowdown like USA in Bangladesh ).
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