India's Prime Minister Narendra Modi on Wednesday launched an ambitious 100 trillion rupee ($1.3 trillion) plan for integrated infrastructure development aimed at creating employment for hundreds of thousands of people and strengthening the economy, reports Nikkei Asia. "With the resolve of a self-reliant India, the foundation of India for the next 25 years is being laid," Modi said, adding that the plan will promote next-generation infrastructure and improve transport connections. Read: Covid vaccine: India's Covaxin gets emergency use approval for kids aged 2-18 The plan, called PM Gati Shakti, "will give impetus to the 21st-century India," he said. "PM" stands for "prime minister," while "Gati Shakti" is a Hindi expression meaning "the power of speed." An official statement issued ahead of the launch said the project will provide integrated connectivity for the movement of people, goods and services from one mode of transport to another. It also aims to create "last-mile" infrastructure and reduce travel time for people. The prime minister did not specify how the government plans to raise the 100 trillion rupees needed for the project. Each government department will be able to monitor others' activities under the plan, providing critical data, while planning and executing projects in a comprehensive manner, the government said. The scheme "will help in synchronizing the activities of each department, as well as of different layers of governance, in a holistic manner by ensuring coordination of work between them," the statement said. Read:India's Everest Organics starts making ingredient for Merck's COVID-19 pill Modi had earlier spoken about the plan in his Independence Day address on Aug. 15. "This scheme of more than 100 trillion rupees will result in new employment opportunities for hundreds of thousands of youths," Modi said at the time. "Gati Shakti will also go a long way in making our local manufacturers globally competitive, and this will also develop new possibilities for the creation of future economic zones," he said.

Prime Minister Sheikh Hasina has sought US investment in various potential sectors apart from the existing energy, banking and insurance sectors as Bangladesh is developing its infrastructure and power supply systems to facilitate FDI. “The US is, of course, the largest investor in Bangladesh with stakes in energy, banking and insurance sectors. We invite US investment in other lucrative sectors like ICT, renewable energy, shipbuilding, automobile, light engineering, agro-processing, blue economy, tourism, knowledge based hi-tech industries,” she said. Hasina made the call while delivering her speech at the Executive Business Roundtable of US-Bangladesh Business Council at Lotte Palace here on Tuesday. US-Bangladesh Business Council president Nisha Biswal presided over the event. Hasina said Bangladesh is investing heavily on infrastructure development and power supply to facilitate FDI in those areas and other promising sectors in Bangladesh. The Prime Minister said Bangladesh is ready to start Free Trade Agreement (FTA) negotiations with the US at an appropriate time. Read: Act quickly to stop rollback of women’s progress: Hasina As per the ADB Outlook 2019, she said, Bangladesh is the fastest growing economy in the Asia-Pacific region due to strong leadership, good governance, stable government, political stability, sound macroeconomic policy and right development priorities. “Rapid urbanization, increasing consumption of electricity, rapid growth of the middle class, growing connectivity with a massive regional market make Bangladesh an attractive investment destination,” Hasina said. She said Bangladesh is ready to offer from its 100 Economic Zones, one exclusively for American companies, and also invites US investment in its 28 High-Tech Parks. “We’re constantly improving our physical, legal and financial infrastructures, and also connectivity as with Padma Bridge and Dhaka Metro-Rail.” Hasina mentioned that Bangladesh has the most liberal investment policy in South Asia and that foreign investment is protected by acts of parliament and bilateral treaties. “Bangladesh recognizes US’s energy sector cooperation and investment, which has contributed towards building our power generation capacity, now over 25,000 Megawatt.” She also said Bangladesh is looking forward to US investment in renewable energy. “Our ICT sector is growing fast now with a billion-dollar export to 60 countries, with the US being the top destination. The ICT industry is expected to grow nearly five fold to reach the five-billion-dollar mark with more than 600,000 free-lance IT professionals, Bangladesh is the right place to invest in the ICT sector.” Talking about the demographic dividend and government’s focus on developing skilled manpower, she said, it ensures that investors here get skilled human resources at competitive wages. Read: Hasina seeks SDGs roadmap for countries falling behind The Prime Minister also stressed the importance of mutual cooperation and collective efforts to attain shared prosperity in the post-Covid economic recovery. “I assure Bangladesh government’s whole hearted support to expand economic partnership between our two nations. We also expect that the Business Council would convince the US government to undertake favourable economic and trade policies for Bangladesh.” Regarding the Bangladesh-US friendship is based on common values and shared interests, Hasina said, “It’s reflected in our expanding overall business relations. Our trade relations can be further strengthened with duty free access and other trade privileges in the US market. Bangladesh is ready to commence FTA negotiations with the US at an appropriate time.” Since Bangladesh will graduate from LDC status in 2026 to enhance its global competitiveness and expansion of its export base, it will appreciate US support, Hasina said. Meanwhile, she said, the US-Bangladesh Business Council may continue to play a catalytic role in raising the present annual bilateral trade of US$ 9 billion to higher figures. High-level representatives from US leading business companies, including Boeing, Coca-Cola, Exxon Mobil, Chevron and Mastercard were present at the roundtable. From Bangladesh side, PM’s ICT Affairs adviser Sajeeb Ahmed Wazed Joy, FBCCI President Jashim Uddin, MCCI president Nihad Kabir and BGMEA president Faruque Hassan, attended the programme. Read: Hasina seeks stronger steps to address ‘planetary emergency’ The event was presided over by Jay R. Pryor, Vice President of Business Development at Chevron and the Council’s Chair of Board of Directors, and Nisha Biswal, President, U.S.-Bangladesh Business Council and Senior Vice President - South Asia, International Strategy and Global Initiatives at the U.S. Chamber of Commerce.    The roundtable, which coincides with Bangladesh’s 50th anniversary of independence and the inaugural engagement with Prime Minister Hasina of the recently launched Council – also featured the launch of the U.S.-Bangladesh Energy Taskforce, co-chaired by Excelerate Energy and General Electric (GE), which will provide recommendations to both governments on the role the private sector can play to strengthen bilateral energy cooperation and development, according to US-Bangladesh Business Council.  The virtual roundtable –  supported by Chevron, Excelerate Energy, General Electric, MetLife and Visa – convened high-level Bangladesh government officials as well as major U.S. and Bangladeshi companies across sectors like energy, financial services, manufacturing, food and beverage, aerospace and defense, agriculture, healthcare, water, and supply chain as well as major Bangladeshi business associations.

Chinese Ambassador to Bangladesh Li Jiming on Sunday said China will continue supporting Bangladesh's infrastructure development, promoting cooperation to a higher level, and helping Bangladesh materialize its development dream. China has the rich experience in infrastructure development and its construction efficiency and quality are among the best in the world, he said.  "I believe that under BRI, the prospects for cooperation between the two countries in the field of transportation infrastructure are very promising," said the Ambassador while delivering a pre-recorded speech at the second part of a function marking the formal inauguration of construction work of Cox's Bazar Airport's runway extension into Sea. Read:PM inaugurates work on Cox's Bazar Airport’s runway upgradation Prime Minister Sheikh Hasina virtually inaugurated it. The Chinese Ambassador said the project is the key step that will promote Cox’s Bazar to become an international metropolis. 

Speakers at a webinar on infrastructure development observed that the local firms are forced to face uneven competition from foreign firms to obtain public works contracts due to policy anomalies.

King Philippe of Belgium has said that he will consider a possible visit to Bangladesh to see the country’s impressive socio-economic development.

Speakers at a webinar in the capital on Thursday stressed the need for prioritising long-term policy, modernisation of education, infrastructure development, industry-academia collaboration and skills for taking advantage of the 4th industrial revolution.

The Executive Committee of the National Economic Council (Ecnec) on Sunday approved 10 projects involving Tk 9,460 crore, including Tk 6,477 crore to be spent by rural MPs for the infrastructure development of their respective areas.       The approval came at the 24th Ecnec meeting of the outgoing fiscal year (2019-20) held at the NEC conference room in the city with Ecnec Chairperson and Prime Minister Sheikh Hasina in the chair.   But the Prime Minister and Planning Minister MA Mannan joined the meeting from Ganobhaban through a videoconference.   “Today’s Ecnec meeting approved 10 projects and the total estimated cost of the projects is Tk 9,460.09 crore. It is a matter of pleasure that the entire money will come from government funds,” said the Planning Minister at a press briefing after the meeting.   Of the total 10 projects, six are new while the rest four are revised ones. Talking about ‘Development of Palli Infrastructures Phase-III Project involving Tk 6,476.65 crore, he said an allocation of Tk 20 crore will given to each MP elected from rural areas, not urban ones, to improve only rural infrastructures like roads, bridges and culverts.   MA Mannan said the project will be implemented by June 2024. “I think it will be very useful for the welfare of people."