Elevated expressway to help drive economic growth, job creation

The country's two leading trade bodies -- the Metropolitan Chamber of Commerce and Industry (MCCI) and Dhaka Chamber of Commerce and Industry (DCCI) -- welcomed the inauguration of the Dhaka Elevated Expressway and termed it a historic milestone for Bangladeshi people.

Prime Minister Sheikh Hasina inaugurated the 11.5km stretch of the Dhaka Elevated Expressway, including another 11km of ramps and link lines, on September 2. It opened to public vehicles at 6:00am the next day.

"This marks a significant milestone as the expressway becomes Bangladesh's first large-scale infrastructure project developed through a public-private partnership," read a statement from the MCCI.

DCCI President Md Sameer Sattar said such a timely initiative is likely to add outstanding benefits and premiums to the local supply chain network and business operations.

By enhancing Dhaka's transportation network, the expressway is poised to drive economic growth, job creation, and improved efficiency, it added.

The MCCI also congratulated Prime Minister Sheikh Hasina and the Bangladesh government "for their unwavering commitment to enhancing the nation's infrastructure and their visionary approach in bringing this project to fruition."

It further stressed that the expressway would effectively contribute to making Dhaka a more prosperous and livable mega-city. Echoing those sentiments, the DCCI termed the expressway a milestone infrastructure project for the nation.

"It is expected to scale up our gross domestic product (GDP), ease transport connectivity to Dhaka, traffic congestion and other traffic-induced challenges, opening up new opportunities for desired inclusive development," read the release from the DCCI.

Dhaka is challenged with various pressing issues including traffic congestion, which causes numerous adverse economic repercussions.

The DCCI commended the government for prioritising infrastructure development and completing various exemplary landmark infrastructure projects, such as Payra Port, Karnaphuli Tunnel and Padma Bridge as part of its fast-track mega projects.

The Padma Bridge, inaugurated in 2022, was a game-changing communications development network that linked the underdeveloped southern region of Bangladesh to Dhaka, resulting in enormous macroeconomic connectivity.

As a commitment of the government to continuous and sustainable infrastructure development, several mega communications infrastructure projects, including the MRT Line 6 and Elevated Expressway, were completed within Dhaka with the aim of connecting adjacent areas to the capital.

DCCI President Md Sameer Sattar said such a timely initiative was likely to add outstanding benefits and premiums to the local supply chain network and business operations.

Sattar believes that the masses, including commuters, investors and entrepreneurs, would benefit from this project in the days to come as it will strengthen local connectivity and lead to smooth traffic networks, thereby reducing various traffic-induced repercussions.

Sattar mentioned that the elevated expressway would make a significant difference to the country's transport communications system and its economic growth trajectory.

It will also open up new prospects for the country as it works towards a local and export-oriented industrialisation-led economic transformation.

The much-needed elevated expressway will allow exporters from Gazipur and Savar to easily access ports in Chattogram and Mongla, cutting down on costs and time as Bangladesh seeks more efficient local and cross-border trade growth.

Sattar anticipated that the elevated expressway would add value to the GDP and shape an investment-friendly ecosystem in Bangladesh in the years to come by augmenting infrastructural efficiency and economic competitiveness.

Citibank, NA is honoured and privileged to be associated with this mega infrastructure project as a banking partner, said Shams Zaman, Citibank NA.'s Bangladesh head of banking, capital markets and advisory.