BD to build 23km road inside Myanmar to connect with China

Bangladesh will build a 23-kilometre road from Gundam in Myanmar towards Kunming to connect with China to establish cross-border transport link among the three countries, Finance Minister AMA Muhith said Tuesday.

“We will build 23-km road out of 170 kms which reaches from Gundam to Kunming as part of regional connectivity initiatives,” he told newsmen after a meeting with visiting Chinese Commerce Minister Gao Hucheng at his secretariat office.

Mr Muhith said China gives highest priority to ‘one-belt, one-road’ initiative. “We have already given the approval for construction of the 23-kilometre road.”

The finance minister said China wants to invest US$300 million in Bangladesh’s textile industry and in this regard a team of a company is now visiting Dhaka.

China also wants to set up an industrial park in Bangladesh where 200,000 labour forces can be employed. The government is yet to respond to their proposal, he said.

Mr Muhith mentioned that Prime Minister Sheikh Hasina sought increased Chinese investment during her last trip to Beijing. “Many of their companies are now coming here with investment offer responding to our PM’s call.”

He said Bangladesh’s economic cooperation with China has substantially increased nowadays. “The cooperation was started in 1978 but now expanded a lot. Their present

offers in terms of money are very substantial.”

Chinese offers come in Bangladesh in two ways. “Of them, one kind of offer comes directly from companies and other from government through high commission in Dhaka. The companies come in Bangladesh and roam in different ministries with investment offers,” the minister told the journalists.

He said the visiting Chinese minister has come to follow up about the projects discussed during Prime Minister Sheikh Hasina’s visit.

“After her visit we sent our requests and they have accepted all of those. In fact, during PM’s discussion, it was expected that all the projects will be accepted.”

During the meeting, Mr Muhith and Mr Hucheng signed two letters of exchange on behalf of their respective countries.

Under the agreements the Chinese government will provide Tk 67.57 billion as aid for construction of ‘Bangladesh-China Friendship Exhibition Centre’ in Purbachal New Town.

The centre, with 800 booths, will have the capacity for parking 1,500 cars. China will also provide technical support for construction of the centre, measuring a total of 33,000 square metres.

Besides, China will provide Tk 354 million as aid for procurement of a batch of medical equipment and appliances for the health and family welfare ministry. China will also arrange training for Bangladeshi technicians to operate the equipment and appliances.

Source: Financial Express

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19


Looking for foreign investors to invest in your business in Myanmar