The development of Chittagong Port is more than just a project; it is the key to Bangladesh's next wave of economic growth. If we cannot raise the FDI-GDP ratio from 0.3% to 2.5%, the ambition of becoming a trillion-dollar economy will stay just a dream.
The reality in Chittagong is: three days at the outer anchorage, indefinite waiting inside the port for a berth, one week to discharge using small lighter vessels, discharge stops if the sea is rough -- all added up, instead of 2 days, in some cases it is taking 25 days.
A contract which commits Bangladesh to a 30 year arrangement with foreign operators involving sensitive and vital parts of our national infrastructure is a contract an interim government with no official opposition should feel neither empowered not entitled to sign.
The DP World deal could be a game-changer for Bangladesh. We need to not let vested interests or shallow nativism trip us up.
Bangladesh should welcome global partners to improve its ports, cut costs, and create jobs -- saying no out of fear will only hold us back again
An inefficient private local company is driving port operations into the ground. We could enhance exports by bringing in an international operator. If we don't act now, it will only cost us that much more in the future.
