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Bangladesh Govt. to reclaim 2,000-acre KEPZ project land jeopardising $1.2b FDI

The Bangladesh government’s plan to take back 2,000 acres of land out of nearly 2,500 acres from the Korean Export Processing Zone (KEPZ) would jeopardise an investment of $1.2 billion that South Korean companies are planning to pump into the economic zone. Experts said it would send a wrong message to foreign investors who see […]

Haystack

NY private equity firm to invest $200m in RMG in Bangladesh

TAU Investment Management LLC, a New York-based growth-equity venture investment firm is currently in the process of raising a US$1.0 billion for modernisation of the garment and textiles industries in Bangladesh, Indonesia, Cambodia, Vietnam China and, to lesser extend, in Turkey. The fund is backed by the Soros family, Yahoo co-founder Jerry Yang and the Global […]

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Bangladesh Govt. draft policy for RMG sub-contracting

The government of Bangladesh has drafted a new policy to bar non-compliant sub-contracting readymade garment (RMG) factories from doing business with exporters, official sources said. The government, after consulting local and international stakeholders, is framing the new ‘sub-contracting policy 2013’ with a view to ensuring a positive working environment in the sub-contracting business. The policy […]

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Japanese companies rate Bangladesh as top investment destination: JETRO Survey

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Competitive wages, low energy prices and cheap production cost as a result, rated Bangladesh the top investment destination for Japanese companies last year, according to a recent survey. The Japan External Trade Organisation (JETRO) conducted the survey on more than 20 countries in Asia and Oceania, which found Bangladesh as the most lucrative investment destination both in manufacturing […]

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Japan withdraws US$25m aid from BTCL project for attempted corruption

A Bangladesh government probe committee found five top officials of Bangladesh Telecommunications Company Ltd (BTCL) guilty of attempted corruption, inefficiency and failure to establish a nationwide telecom backbone network in the last ten years. Meanwhile, Japan International Cooperation Agency (JICA) withdraws the US$25 million aid package that it had sanctioned for the project. The telecom division presented […]

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Japan’s US$1.20b development aid package to Bangladesh facing delay

Japan’s nearly US$1.2 billion soft loan for five development projects is facing delay despite Bangladesh government’s efforts for confirming the assistance, officials said Wednesday. The loans are arranged under the Tokyo-assured 36th development aid package. Gloomy business and political environment as well as increased dependence on a certain bilateral donor country are cited as major reasons […]

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Japan wins over China beyond South China Sea – for now

Two major powers in Asia, Japan and China have been all but bosom friends for centuries and now more so. Their rivalry range from fishing into each other waters to space research on one hand and dominance from the South China Sea to the Indian Ocean and may be beyond. In one of the recent business competitions […]

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Bangladesh among worst places to work: Garment sector found to be key culprit

Bangladesh is one of the ‘worst’ places in the world to work, where workers’ rights are not guaranteed, according to a global survey. The International Trade Union Confederation (ITUC), in a survey launched on Wednesday, ranks Bangladesh, along with 27 other countries, on the fifth category-a sign of “no guarantee of rights”. It, however, referred […]

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Bangladesh Export earnings target falls short by 6.0 pc

Bangladesh’s overall export earnings recorded a marginal growth during the July-May period of current fiscal year 2014-15. The export receipts stood at $28.14 billion showing a 2.83 per cent growth during the period though it fell short of target by 6.01 per cent, according to Export Promotion Bureau (EPB) data released Monday. However, the single […]

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Korean Export Processing Zone at serious risk

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Instead of handing over the Korean Export Processing Zone (KEPZ) to the investor, the government of Bangladesh plans to take back […]

Dhaka needs to remove its rocky anti-FDI atmosphere

Korean Ambassador to Bangladesh Lee Yun-young

Korean Ambassador to Bangladesh Mr. Lee Yun-young has said Bangladesh should come out from protectionism and open up its market […]

‘Welfare Associations’ to negotiate for rights at Bangladesh EPZ

The Government of Bangladesh today approved, in principle, draft of a labour law for Export Processing Zones (EPZ) with the provision […]

Return of GSP seems far off – a lot more must be done

Bangladesh’s progress in implementation of the National Tripartite Plan of Action on Fire Safety and Structural Integrity (the Action Plan) which provides a […]

Bangladesh halts shutdown of “unsafe” factories

The Bangladeshi government is refusing to shut down garment factories declared unsafe, following a row with independent inspectors over the […]

Yawning gap between pledges and delivery to Rana Plaza victims

Many Rana Plaza victims are yet to receive the promised compensation from the government and retailers, nine months after the […]