Korea commits to strengthen infrastructure partnership with Bangladesh

The Embassy of the Republic of Korea in Dhaka hosted Infra Project Roadshow, in cooperation with the KOTRA Dhaka office, at the Intercontinental Hotel on October 27.

11 Bangladesh authorities including Public-Private Partnership Authority (PPPA), Bangladesh Power Development Board (BPDB), Road and Highway Department (RHD), Bangladesh Railway(BR), Bangladesh Bridge Authority(BBA), D-WASA, and C-WASAand 31 Korean construction and engineering companies including 12 companies based in Dhaka participated in the event, according to a press release. 

Bangladesh contractors and Korean companies sat together to explore potential opportunities for cooperation in the field of infrastructure projects in Bangladesh through in-person and virtual one-on-one meetings.

Korea has been a longtime partner in Bangladesh’s infrastructure projects. 

The first project even dates back to the 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 infrastructure projects to this date including the 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 operate their offices in Dhaka and actively participate in infrastructure 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 the Meghna Bridge project.

Korea also has been actively providing concessional loans, EDCF, Economic Development Cooperation Fund, to support infrastructure 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 infrastructure area.” 

He added: “I believe infrastructure area can and should be the next RMG sector, another success story of economic cooperation between the two countries. And I think the 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 the PPP platform, mentioned this roadshow would provide a valuable opportunity to see the progress of the partnership and the potential projects.

Speakers from other Bangladesh authorities also introduced their projects and expressed their willingness to closely cooperate with Korean partners.  

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