United News of Bangladesh

Bangladesh Jamaat-e-Islami has urged the government not to allow the authorities concerned to hand over the the New Mooring Container Terminal (NCT) at the Chittagong Port to any foreign company. Shahjahan Chowdhury, ameer of Chattogram Metropolitan unit Jamaat-e-Islami made the demand while speaking at a press conference held at Chattogram Press Club on Sunday. It also demanded that NCT operate under the port authority’s own management. "The Chittagong port is the driving force of the national economy. It handles 92% of the country’s import and export activities. NCT is currently the top revenue-generating terminal of the port. Handing over such a self-sufficient terminal to foreign hands would be a direct blow to the national economy." When briefing, the Jamaat leader said the NCT built at a cost of around Tk 2,000 crore earned Tk 1,367 crore in revenue income in the last fiscal year. It handles 55% of the port’s total cargo and the livelihoods of around 5,000 workers and staff depends on this terminal. No election before reform, Hasina’s trail: Jamaat Ameer Jamaat also alleged that former economic adviser to the Sheikh Hasina-led government Salman F Rahman, played an active role in the move to transfer NCT operations to foreign companies, prioritising the financial interests of the Sheikh family over national interest. He also claimed that this move is a repetition of the “conspiracy” that saw the Patenga Container Terminal handed over to a foreign firm, despite NCT being a profitable, technologically advanced and efficient terminal that can be operated without any new investment. Clarifying their opinion, the Jamaat leader said that they are not against foreign investment, but such investment should be directed towards new projects and greenfield developments—such as economic zones and the Bay Terminal area. Principal Nurul Amin, secretary of the city unit Jamaat-e-Islami along with several other leaders, were present at the press conference.      

The United Kingdom (UK) on Sunday underlined the importance of maintaining a level-playing field for foreign companies interested in investing and operating in Bangladesh. The UK invited Bangladesh to engage with the UK private sector to pursue a commercial dispute resolution system to unlock the full potential of Foreign Direct Investment into Bangladesh. At the Bangladesh-UK Trade and Investment Dialogue 2023 held in Dhaka, the UK stressed the importance of Bangladesh putting in place economic policies and systems to achieve its ambition of rapid, sustainable and green economic development; and pledged its ongoing cooperation, according to a joint communique. Also read:; UK to review security after unknown objects puzzle N America

Parliament on Tuesday passed the Trade Organisation Bill, 2022 was allowing foreign traders to form joint-trade bodies in Bangladesh. Commerce Minister Tipu Munshi moved the bill and it was passed by voice vote. This will replace the Trade Organisations Ordinance, 1961. Also read:Bill seeking end to discrimination tabled in Parliament The legislation stated that some legal bases have been laid down for the women entrepreneurs in trade organisations through licensing. A provision has been made for a joint chamber of commerce and industry (between countries) and a chamber of commerce and industry alliance. The foreign traders will be able to form a joint chamber.