Businesses, politicians urge support for local investment as govt invites FDI

During a view exchange meeting with the Bida Executive Chairman in Chattogram today, several Chattogram-based businesses and political leaders urged the government to ensure support for local investors at the same time as it continues to pursue foreign direct investment (FDI).

Bida Executive Chairman Chowdhury Ashik Mahmud Bin Harun said the government is planning to engage the world's top port operators to run the country's port facilities aiming to ensure best utilisation and most efficient use of the limited port capacity the country has.

PHP Group Chairman Sufi Mizanur Rahman said, "Foreign investment is important and we welcome it. But we should also consider that foreign investors take away all their profit. They (foreign investors) come to loot away country's wealth."

Mentioning that local investors keep their profit in the country and use their profit to make more investment here, he urged the government to ensure proper supports for the local investors.

Former Chittagong Chamber President Ershad Ullah said FDI is crucial, but the fact is that local industrialists are facing problems in getting uninterrupted gas, electricity and water supply to run their plants

Bangladesh Jamaat-e-Islam city unit Ameer Shahjahan Chowdhury opposed appointing a foreign operator in the New Mooring Container Terminal (NCT), which is constructed and equipped by spending the port's own fund.

He said, "We are not opposing foreign investment. Invite foreign investment to develop greenfield ports, build more new ports and terminals with foreign investment. But we cannot understand why the government is inviting foreign investors to an already established terminal."

The Jamaat leader said, "Do everything required to modernise and develop NCT and its capacity if needed to bring experts."

He urged the government to consider the greater interest of the port and the country in inviting foreign investors.

"We had seen foreign merchants and rulers like the Portuguese and British. We need to take learning from our past," the Jamaat Ameer said.

The Bida Chairman said while decisions are made, it would be ensured that the jobs of the workers are protected as well as workers' rights are fully protected.

Speaking at the meeting, Chief Adviser's Press Secretary Shafiqul Alam said there is some misinformation that many would lose their jobs if the foreign operator is appointed.

"No one will lose their job, rather ten times more jobs will be created. Many are saying that we are appointing foreign operator harming country's interest. I want to say the country's interest would not be harmed rather the country would prosper more."

He said the government has plans to sign agreements with the largest port operators to invest in Chattogram port.

He hoped the agreements would be signed by September.

"We want to see Chattogram Port as the most efficient and biggest port in the region."

The chief adviser's dream is that Chattogram port would not only serve Bangladesh rather it would the neighbouring countries, Alam said.

Meanwhile, during his welcome speech at a press conference in the afternoon, the Bida executive chairman Ashik addressed the issue.

Addressing the oppositions from different corners about foreign investment in an existing terminal of Chattogram port, the Ashik said, "Let's not look at one asset. Let us not think about a small location. Let us think about the impact on a national level when we will activate a port."

Mentioning that these decisions need to be taken considering that national level impact, he said, "Off course we need to make sure that our jobs are protected as well as our workers' rights are fully protected."

Bida Chairman also hoped that a total of $3 billion foreign direct investment would come in three port development projects, including Chattogram Port's Ladia Container Terminal, and two container terminals of the proposed Bay Terminal, the mega expansion project of Chattogram port.