Korea committed to strengthen infrastructural partnership with Bangladesh
Published : 27 Oct 2021, 19:19
Korean Envoy in Dhaka Lee Jang-keun today expressed his country's commitment to strengthen its infrastructural partnership with Bangladesh.
The envoy made the commitment at the Infra Project Roadshow, in cooperation with KOTRA Dhaka office, in the city's hotel intercontinental, said a press release here.
Eleven Bangladesh authorities, including Public Private Partnership Authority (PPPA), Bangladesh Power Development Board (BPDB), Roads and Highways Department(RHD), Bangladesh Railway (BR), Bangladesh Bridge Authority(BBA), D-WASA, and C-WASA and 31 Korean construction and engineering companies including 12 companies based in Dhaka participated in the event.
Bangladesh contractors and Korean companies sat together to explore potential opportunities for cooperation in the field of infrastructural projects in Bangladesh through in-person and virtual one-on-one meetings.
Korea has been a longtime partner in the infrastructural projects in Bangladesh. The first project even dates back to early 1970s.
When Bangladesh declared independence in 1971, a Korean company was building a highway between Dhaka and Chittagong. According to the statistics, Korean companies participated in 210 infrastructural projects to this date including Jamuna Multipurpose Bridge project built by Hyundai Construction in 1998.
Major Korean construction and engineering companies such as Samsung, Hyundai, POSCO, GS, Halla, Taeyoug, Heelim, Dowhaare operating their offices in Dhaka and actively participate in infrastructural projects in Bangladesh.
In order to strengthen cooperation in infrastructure, the two countries have launched PPP (Public-Private Partnership) platform in 2019 and identified recently five projects to be implemented under this framework including Meghna Bridge project.
Korea also has been actively providing concessional loans, EDCF, Economic Development Cooperation Fund, to support infrastructural projects in Bangladesh.
Ambassador Lee Jang-keun of Korea stated in his luncheon keynote speech "Infrastructure development is the key to the success of Bangladesh's economic development and to the achievement of its grand vision to become a developed nation by 2041. Korea, a vivid example of how investment in infrastructure can turn into economic development, is a natural partner for Bangladesh's development of infrastructures. We are committed to further strengthening our partnership with Bangladesh in the infrastructural areas."
He said: "I believe that the next infrastructural area can and should be RMG sector, another success story of economic cooperation between the two countries. And I think infrastructure can be an area which could take our bilateral ties into a new height in the coming decades."
The Secretary and CEO of PPPA Sultana Afroz, appreciating collaboration in infrastructure between the two countries, particularly through PPP platform, mentioned that this road show would provide a valuable opportunity to see the progress of the partnership and the potential projects.
Speakers from other Bangladeshi authorities also introduced their projects
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