Publish : 09 Jan 2022, 01:31 AMUpdate : 20 Feb 2022, 02:22 PM
The Dhaka-Chittagong high-speed train project being at risk of not being completed by its 2030 deadline due to a lack of interest from overseas investors is certainly grim news for Bangladesh’s development.
The project, if implemented, will enable travel between Dhaka and Chittagong at unprecedented speed, with a one-way journey taking only an hour, compared to the minimum six to seven hours of travel by road.
While the Bangladesh Railway has already sought investment from a number of different sources, including from China, India, the UK, France, and the Asian Development Bank (ADB), it is quite disheartening to see that it has not yet secured anything.
It goes without saying that the relevant government diplomatic channels and trade bodies have a role to play in motivating foreign investors to trust this project to be a profitable one. The relevant authorities should exert their full effort to persuade potential investors to come on board.
The Dhaka-Chittagong is an extremely important route for countless people and many businesses. Having a one-hour transit between the two major cities will be groundbreaking development for the country.
Despite the obstacle to the completion of the project, it was encouraging to see that the railway minister is hopeful about the prospect of investment from Europe, where he earlier led a team for this purpose.
As the government continues to seek investment, it is also important to ensure that any partnership agreement entered is not detrimental to the people, with the pertinent issue being subsequent train fares being too high. At this moment, however, the first priority should be to use every effort to secure the investment, and in a larger sense, prioritize improving our investment climate so that foreign investors are no longer hesitant about investing in our projects.
Our investment climate remains lacking
Having a one-hour transit between the two major cities will be groundbreaking development for the country
The Dhaka-Chittagong high-speed train project being at risk of not being completed by its 2030 deadline due to a lack of interest from overseas investors is certainly grim news for Bangladesh’s development.
The project, if implemented, will enable travel between Dhaka and Chittagong at unprecedented speed, with a one-way journey taking only an hour, compared to the minimum six to seven hours of travel by road.
While the Bangladesh Railway has already sought investment from a number of different sources, including from China, India, the UK, France, and the Asian Development Bank (ADB), it is quite disheartening to see that it has not yet secured anything.
It goes without saying that the relevant government diplomatic channels and trade bodies have a role to play in motivating foreign investors to trust this project to be a profitable one. The relevant authorities should exert their full effort to persuade potential investors to come on board.
The Dhaka-Chittagong is an extremely important route for countless people and many businesses. Having a one-hour transit between the two major cities will be groundbreaking development for the country.
Despite the obstacle to the completion of the project, it was encouraging to see that the railway minister is hopeful about the prospect of investment from Europe, where he earlier led a team for this purpose.
As the government continues to seek investment, it is also important to ensure that any partnership agreement entered is not detrimental to the people, with the pertinent issue being subsequent train fares being too high. At this moment, however, the first priority should be to use every effort to secure the investment, and in a larger sense, prioritize improving our investment climate so that foreign investors are no longer hesitant about investing in our projects.
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