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Bangladesh Keen to German Partnership on Energy Sector Development



Dhaka, Nov 23, 2017 (PR) - Nasrul Hamid, MP, State minister power invites German investor to Bangladesh energy sector development. The state minister is keen to see more public private partnership and expressed his interest to facilitate more FDI targeting this sector from Germany. He is addressing today a program organized by Bangladesh-German Chamber of Commerce and Industry (BGCCI) focusing on energy sector of Bangladesh. He told, “there are business opportunities for the German companies here in Bangladesh. They can grow by 20% if they use it properly. We want them to come forward and work with our entrepreneurs.”

 

Bangladesh-German Chamber of Commerce and Industry (BGCCI) hosted an event in partnership with GIZ and KFW, the bilateral chamber initiated a platform for the local and international businesses to meet and look for business opportunities. Involved in bilateral trade promotion between Germany and Bangladesh, BGCCI is working to bridge the gap between import and export relationships of its partner countries. By showcasing advanced German technology in energy sector BGCCI wanted to enlighten the future Bangladeshi investors of this sector. German technology giants such as SIEMENS and BASF presented their respective portfolios of energy technology to the attendees so that the future investors can make a better and informed decision before investing. Award winning

 

The chief guest of this event was Nasrul Hamid MP, state minister, ministry of power, energy and mineral resources. A huge admirer of Germany, this young policy maker is hope full that with Germany’s advanced technology and technical support, Bangladesh will have a phenomenal progress in energy sector over the period of next few years.  The state minister is keen to see more public private partnership and expressed his interest to facilitate more FDI targeting this sector from Germany, as he mentioned “There are business opportunities for the German companies here in Bangladesh. They can grow by 20% if they use it properly. We want them to come forward and work with our entrepreneurs.”

 

In his remarks he said- “There was a time in the eighties where the term ‘German-made’ was a byword for reliability and sturdiness to the general consumers. Even today, people will swear by German Appliances, Capital Machinery, Original Equipment, Heavy Industrial Equipment, Chemicals and of course, cars.”

 

He also reiterated- “When following a national character, Bangladesh can learn a lot from Germany. Integrity, Quality, Adherence to rules, Punctuality all of these characters are needed to transform a nation into a developed nation. And it has to come through the way of German companies. I would like to believe you are not here only for business, but to transfer your technology and techniques so that we can be a more responsible global nation. I hope that not only improving the business scenario, but also promoting the exchange of ideas should be the theme of today.”

 

The primary goal of this event was twofold. To endorse and showcase German technology giants and their works. On the other hand creating an interest among the Bangladeshi businesses to learn and adopt German technology to ensure cleaner and safer energy with better return over investment.

 

Among other dignitaries Deputy Head of Mission Michael Schultheiss from German Embassy, Dhaka attended this event. In his remarks the second to command said- “For decades Germany has been the global pioneer in applying renewable energies and environmental technologies. The new energy concept continues this path with ambitious goals to cut CO2 emissions by 80% and increase the share of renewable energies at total energy consumption to 60% by 2050.”

 

BGCCI President Tawfiq Ali is hopeful that Bangladesh and Germany will be working together not only in this sector but for all the different sectors where both of the countries will be helping each other to grow.  He said “This is how we want to proceed further, creating business opportunities for our members from Germany and Bangladesh simultaneously. BGCCI aims to perform as a trusted partner for the businesses which seek opportunities, seek the right partners, companies which desperately need a solid ground beneath their feet just to stand upright either in Germany or in Bangladesh.”

 

The speakers indicated, Bangladesh has shown tremendous growth in recent years, and has attained an average gross domestic product growth rate of 6 per cent. Booming economic growth, rapid urbanization, and expanding industrialization and development have increased the country’s demand for electricity. It is recognized that energy is the key ingredient to alleviate poverty and to improve the socioeconomic condition of the people of Bangladesh. The vision of the Government is to make electricity available for all by 2021. The state minister has assured, in order to fulfill the vision, the Government has given topmost priority to the power sector and has prepared short-, medium- and long-term power generation plans using gas, coal, duel fuel, nuclear and renewable energy resources. Renewable energy will play a vital role in meeting the demand for electricity, especially in the off-grid areas of the country.
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