Jagaran Chakma

The coronavirus pandemic has thrown a spanner in the works of all major infrastructure projects, a turn of events that is poised to delay implementation and scale up cost, according to project officials and experts.

Despite being hit by the fallout of the coronavirus, Bangladesh’s corporate giants are not sitting idle as they have joined the government’s efforts by enhancing supplies to the ill-equipped health sector and extending helping hand to the low-income people who are facing existential crisis because of the lockdown.

Automobile garages have joined the growing list of establishments taking a beating from the global coronavirus pandemic, putting in jeopardy the livelihoods of about 5 lakh auto mechanics and technicians.

Dark clouds are brewing on the horizon for money exchangers in Dhaka as coronavirus-induced international flight postponement has led to a drastic decrease in their customer numbers, causing exchange rates to fall.

The government is going to slash this fiscal year’s development budget by 4.8 per cent from the original outlay mainly due to slow implementation of projects funded by foreign assistance.

The World Bank will provide $100 million to Bangladesh to help the country take preventive measures in the face of global coronavirus pandemic.

Integrity, quality construction and timely delivery of projects can bring lasting success and reliability in the real estate business, said Tanvir Ahmed, managing director of Sheltech Group, one of the leading realtors in Bangladesh.

Bangladesh’s infrastructure equipment manufacturing sector is undergoing sweeping changes to meet the increased demand brought on by the implementation of the government’s mega projects to accelerate economic growth.

Bangladesh’s per capita income will cross $4,000 within next decade and this will act as a springboard for the country looking to become a high-income economy, according to Hitoshi Hirata, chief representative of the Japan International Cooperation Agency (Jica).

Adani Group’s entry into Bangladesh’s money-spinning infrastructure sector is drawing closer after it declared incorporation of a wholly owned subsidiary company named Adani Bangladesh Ports Private (ABPPL) on the Bombay Stock Exchange and National Stock Exchange of India, where it is listed.

Meghna Group of Industries (MGI), a leading Bangladeshi business group, is set to flag off nine industrial units at its economic zone in Narayanganj tomorrow in a bid to meet the country’s growing demand for consumer products and industrial raw materials.

Poorly managed exchange rate, ad hoc-based incentive and existing domestic protection levels will not make Bangladesh’s exports competitive and help diversify both products and destinations, according to a new plan of the government.

Five jetties and necessary infrastructure will be set up in the economic zones in the country’s south-eastern part to ensure comfortable and safe movement of people as well as tourism and landing facilities.

Just a decade ago there were only 82 Japanese companies with investments in Bangladesh – at a time when the country lacked a proper business environment with an economy that one could have barely called ‘healthy’ and with infrastructure suffering from deficiencies on many accounts.

Bangladesh is the top choice for Japanese companies seeking to expand business in Asia and Oceania in the next two years due to its high potential and profitability, according to a survey by the Japan External Trade Organisation (JETRO).

About seven large-scale international expositions and corporate conferences to be held in Bangladesh have been postponed following the coronavirus outbreak in China, denying organisers and other vested parties from about Tk 250 crore in revenue from the events.

Indian corporate giant Adani Group is likely to start the site development work of the India Special Economic Zone (ISEZ) by this June, where billions of dollars of investment are expected to pour in from the neighbouring country.

The interest rate on government Treasury bills and bonds, the main instruments for bank borrowing, doubled in the last one year -- a development that will fuel budgetary expenditure and may discourage private sector credit, both of which are already sources of concern.

The SBG Economic Zone in Mirsarai is expecting to be complete by the year end as promised.

Bangladesh’s per capita income was $1,909 last fiscal year, from $1,751 a year earlier. And proof of this improved wealth can perhaps be found if one visits the ongoing Dhaka International Trade Fair (DITF).