Page 1 of 2 12 LastLast
Results 1 to 25 of 33
  1. #1
    Thailand Expat misskit's Avatar
    Join Date
    Dec 2009
    Last Online
    @
    Location
    Chiang Mai
    Posts
    48,094

    China No. 1 Foreign Investor in Bangladesh, New Official Figures Show

    China’s footprint in Bangladesh’s economy has expanded massively since 2016 and Beijing is now the South Asian nation’s biggest foreign investor, official figures show, with most of the Chinese money invested in a power sector tainted by allegations of bureaucratic corruption.


    Beijing outpaced the United States as Bangladesh’s top investor in 2018, during which Dhaka recorded U.S. $3.6 billion in foreign direct investments (FDI), according to newly released official figures obtained by BenarNews.


    “The Chinese are now the largest foreign direct investors in Bangladesh,” Shams al-Mujahid, a director-general at the Bangladesh Investment Development Authority (BIDA), told BenarNews. BIDA is an agency under Prime Minister Sheikh Hasina’s office.


    China’s overall investment of U.S. $1.03 billion in 2018 represented a 16-fold increase compared with its 2016 investment of just over $61 million.


    “The Chinese have been the largest investor almost everywhere in the world,” al-Mujahid said. “Bangladesh is no exception.”


    According to the BIDA figures, the Netherlands last year ranked as Bangladesh’s second-largest foreign investor behind China, with $692 million, while Britain took the third spot with $371 million. Britain was Bangladesh’s biggest foreign investor in 2017, with $313 million. In 2018, the United States, traditionally one of Bangladesh’s biggest investors, ranked fourth with $174 million in direct investments, according to the figures.


    FDI has been a major source of foreign capital for Bangladesh since 1980, when the country adopted its Foreign Private Investment Act.


    In 1995, Bangladesh opened up foreign investments in the mobile telecommunications sector mainly because of the absence of ground-telephone infrastructure in the country. It attracted investments from telecoms giants such as Norway’s Telenor and Egypt’s Orascom.


    But Bangladesh also struggled with power outages, with the nation experiencing its worst electricity crisis in 2008 and 2009. Reports said one blackout alone, in 2014, affected as many as 100 million people – more than 60 percent of the population.


    As persistent energy crises plagued Bangladesh, Chinese leader Xi Jinping unveiled the One Belt, One Road (OBOR) plan in 2013, saying that the massive infrastructure initiative would accelerate development in many of the world’s poorest countries by building trade routes that would bring economic benefits.


    OBOR, which critics say is a tool for Beijing to amass geopolitical power, is an ambitious project reaching from China to many points across the globe through investments that could rise above U.S. $1 trillion.



    Heavily invested in power sector


    As part of OBOR, Chinese banks have earmarked $23 billion to build coal-fired power plants in 23 countries, according to the Institute for Energy Economics and Financial Analysis (IEEFA), a U.S.-based think tank.


    Bangladesh is expected to be the biggest recipient with $7 billion, it said. In 2018, China invested more than $800 million in the South Asian nation’s power sector alone.


    Last year, China Huadian Hongkong Company Limited signed a deal with a local partner to build a 1,320-megawatt plant at Moheshkhali island in Bangladesh.


    China’s involvement in Bangladesh’s energy supply has spurred criticisms among Bangladeshi economists and experts who have underscored that the South Asian nation’s power sector is “poorly governed.”


    “There is criticism regarding the business climate in Bangladesh. There is corruption, bureaucratic and legal hassles. But the Chinese businessmen have invested huge in the power sector,” said Hossain Zillur Rahman, an economist and former government adviser.


    “They want to get maximum benefits from the power sector, which practically has no governance and no accountability,” Rahman told BenarNews.


    Khaleda Mahmood, chairman of the Bangladesh Power Development Board (PDB), brushed aside Rahman’s allegations.


    “It is not true that the power sector has no governance,” he told BenarNews, underscoring that his public-sector organization was providing 45 percent of the country’s total electricity demand.


    Last year, Transparency International (TI) gave Bangladesh a score of 26 in its Corruptions Perceptions Index. China received a score of 39.


    The index, which ranks 180 countries and territories based on their perceived levels of public-sector corruption, uses a scale of 0 to 100, where 0 is highly corrupt and 100 is very clean, according to TI, a Berlin-based nonprofit that fights global corruption.



    ‘No accountability’


    Allegations of corruptions had been raised in Bangladesh’s energy sector during the past few years, but those claims were revived less than a week after officials said that three Chinese companies had started lobbying Bangladesh for a contract to build the nation’s second nuclear power plant.


    Mahbubul Hoq, chairman of Bangladesh Atomic Energy Commission, told BenarNews that officials of three Chinese companies met with him during the past few months and expressed interest in building the second nuclear plant. It is expected to cost 1.5 trillion taka (U.S. $18 billion).


    In 2009, the Bangladeshi parliament led by the ruling Awami League passed a law that authorized the Power Development Board to procure electricity from the private sectors, bypassing the lengthy bureaucratic process. The law shielded its officials from prosecution on matters related to procurement of electricity, according to its critics.


    The law was initially passed to exist for two years, bringing temporary relief to the public, said Shahiduzzaman Sarker, chairman of the parliamentary standing committee on energy and mineral resources. But it has been extended every two years, he said.


    “The PDB enjoys immunity for its actions," said Rahman, the economist. "So, there is no accountability in the sector."

    https://www.rfa.org/english/news/chi...019192122.html

  2. #2
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    most of the Chinese money invested in a power sector tainted by allegations of bureaucratic corruption
    Of course it is, that's how the chinkies work.

  3. #3
    last farang standing
    Hugh Cow's Avatar
    Join Date
    May 2015
    Last Online
    15-03-2024 @ 01:44 PM
    Location
    Qld/Bangkok
    Posts
    4,110
    When it comes to throwing money at corrupt governments and tinpot regimes the chinese actually outdo the Americans and that's saying something.

  4. #4
    . Neverna's Avatar
    Join Date
    Mar 2012
    Last Online
    @
    Posts
    21,241
    I'm quite sure Bangladesh will be happy to receive investment from other countries. Investors, business people and countries that are not happy with the situation are welcome to step up to the plate and open their wallets.

  5. #5
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    Quote Originally Posted by Neverna View Post
    I'm quite sure Bangladesh will be happy to receive investment from other countries. Investors, business people and countries that are not happy with the situation are welcome to step up to the plate and open their wallets.
    I'm quite sure crooked Bangledeshi politicians that take the backhanders from Chinastan will be ecstatic.

    But it doesn't do much for the Bangladeshi people when these crooks award lucrative contracts to chinky companies who use Chinese labour, and then charge such extortionate rates that they end up owning the projects and sucking the fucking country dry.

    Perhaps you're in China and can't read news about the chinky shenanigens because they block it.

    Here you go:

    DEBT TRAP DIPLOMACY

  6. #6
    Thailand Expat
    GracelessFawn's Avatar
    Join Date
    Jul 2007
    Last Online
    03-03-2022 @ 09:17 AM
    Location
    Somewhere.... out here.
    Posts
    2,766
    I can imagine their malls and markets over-flowing with cheap smelly Chinese plastic wares and poor quality Chinese goods.

  7. #7
    Thailand Expat OhOh's Avatar
    Join Date
    Jul 2010
    Last Online
    Today @ 08:43 PM
    Location
    Where troubles melt like lemon drops
    Posts
    25,222
    Quote Originally Posted by harrybarracuda View Post
    Of course it is, that's how the chinkies work.
    The Chinese are responsible for regime change? Another ameristani market lost to the innovative Oriental.

    Quote Originally Posted by Hugh Cow View Post
    When it comes to throwing money at corrupt governments
    You prefer the military, H/E from 10,000 m tactics, illegal high sea piracy, illegal financial sanctions or illegal imprisonment, historically and currently utilised by declining empires? Is it your money or Chinese citizens?

    Quote Originally Posted by harrybarracuda View Post
    I'm quite sure crooked Bangledeshi politicians that take the backhanders from Chinastan will be ecstatic.
    "I'm quite sure", but have nothing proven. Maybe some Bangladeshi court decision links would assist our understanding of your currently unfounded allegations.

    Quote Originally Posted by GracelessFawn View Post
    I can imagine their malls and markets over-flowing with cheap smelly Chinese plastic wares and poor quality Chinese goods.
    I would suggest to you that the local shop and market traders supply and make a profit, due to their ability in satisfying their customers desires, in quality, price and odour. If you are not happy look and buy at some other, more pleasantly perfumed, garden elsewhere. If you can afford too.

    The local security officer can surely help you with directions or a personal recommendations. It's an Asian thing.

    There maybe an app on your phone to make easier for you. Just to avoid getting your clothes on and hence losing an hour or two's "tips".
    Last edited by OhOh; 20-05-2019 at 01:06 PM.
    A tray full of GOLD is not worth a moment in time.

  8. #8
    . Neverna's Avatar
    Join Date
    Mar 2012
    Last Online
    @
    Posts
    21,241
    Investors, business people and countries that are not happy with the current situation are welcome to step up to the plate and open their wallets.

  9. #9
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    I replied to this comment:

    most of the Chinese money invested in a power sector tainted by allegations of bureaucratic corruption
    And somehow your dysfunctional brain decided this complete non sequitur was somehow relevant.

    Quote Originally Posted by OhOh View Post
    The Chinese are responsible for regime change? Another ameristani market lost to the innovative Oriental.
    What on earth are you about?

    Have you been taking lessons in gibbering from your protege foobar or something?

  10. #10
    Hangin' Around cyrille's Avatar
    Join Date
    Oct 2006
    Last Online
    @
    Location
    Home
    Posts
    33,534
    Quote Originally Posted by OhOh View Post
    There maybe an app on your phone to make easier for you. Just to avoid getting your clothes on and hence losing an hour or two's "tips".
    Ouch.

    Blimey, ohno, you do take any perceived slights against the Chinese rather personally.

    What is it that makes you defend every aspect of the place incessantly?

  11. #11
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    Quote Originally Posted by cyrille View Post
    Ouch.

    Blimey, ohno, you do take any perceived slights against the Chinese rather personally.

    What is it that makes you defend every aspect of the place incessantly?
    He's a little chinky brown noser.

    He used to expend all his effort brown nosing Putin, but he's a bit lax on that these days. Might find himself drinking a cup of Putin's tea, the one that comes with "glowing recommendations".


  12. #12
    Excommunicated baldrick's Avatar
    Join Date
    Apr 2006
    Last Online
    Today @ 09:12 PM
    Posts
    24,760
    Quote Originally Posted by cyrille View Post
    What is it that makes you defend every aspect of the place incessantly?
    it twists harry's titties

  13. #13
    Thailand Expat OhOh's Avatar
    Join Date
    Jul 2010
    Last Online
    Today @ 08:43 PM
    Location
    Where troubles melt like lemon drops
    Posts
    25,222
    Quote Originally Posted by cyrille View Post
    What is it that makes you defend every aspect of the place incessantly
    The racist and unproven accusations. Show me the proven facts, that's all I ask.

    Sure the Chines people do things differently as I'm sure you and I do. What can be factually proven, are the beneficial results, from a very low base, achieved over the last few decades. Along with public plans to improve their citizens and all foreigners who care to join them. Their door is open, come take a seat.

    The alternate offering doesn't offer anything I desire.



    Are you privy to GracelessFawn's real situation, location, method of income or employment status? I'm not.

    Purports to be a typical Asian woman. Unfortunately unless she ups her game here on TD she will continue be treated by me as I do all others. Sexual proclivity, age and intelligence are irrelevant. Her/his/it's, to cover all known bases, racist bigoted comments are displayed daily.

    I treat all similar here equally, ask 'arry, regardless of "reputation". She/he/it stands or falls by her/his/it's posts. As we all do.

    Quote Originally Posted by baldrick View Post
    it twists harry's titties
    He enjoys the foreplay, the vinegar strokes makes him squeal like a gilt.
    Last edited by OhOh; 20-05-2019 at 02:11 PM.

  14. #14
    Thailand Expat
    Klondyke's Avatar
    Join Date
    Aug 2014
    Last Online
    26-09-2021 @ 10:28 PM
    Posts
    10,105
    Quote Originally Posted by harrybarracuda View Post
    Of course it is, that's how the chinkies work.
    In contrast to others (please no names here) who - instead of investments - use the clever Obama's advice: "Twist their arm" ...

  15. #15
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    Quote Originally Posted by OhOh View Post
    The racist and unproven accusations. Show me the proven facts, that's all I ask.
    Translation: If it's not on Chinastan Daily or some other Chinky state propaganda, HoHo refuses to believe it's true.

  16. #16
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    Quote Originally Posted by OhOh View Post
    He enjoys the foreplay, the vinegar strokes makes him squeal like a gilt.
    Now now Hoho, keep your perverted homosexual fantasies to yourself (or PM buttplug, I'm sure he'll satisfy your urges).

  17. #17
    Thailand Expat jabir's Avatar
    Join Date
    Jul 2016
    Last Online
    @
    Posts
    12,009
    Any breakdown on how much of that investment was for signatures agreeing to sell off whatever few resources the country owns?

  18. #18
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    Quote Originally Posted by jabir View Post
    Any breakdown on how much of that investment was for signatures agreeing to sell off whatever few resources the country owns?
    Yeah, I don't think they include where the bribes go in the project documentation.


  19. #19
    Thailand Expat
    Farang Ky Ay's Avatar
    Join Date
    May 2009
    Last Online
    03-01-2022 @ 12:29 AM
    Location
    Chiang Mai
    Posts
    2,081
    Debt to China very bad as they may ask for concessions on major infrastructures (energy, transports etc) and/or political changes
    Debt to US controlled world Bank and IMF good, even if those countries are expected to give the same concessions or to apply political changes (domestically or toward other countries)

    Agree with Neverna, other countries bothered shoul offer loans or invest to free those countries from foreign influence ..cough cough ...or rather submit them to their influence

  20. #20
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    Quote Originally Posted by Farang Ky Ay View Post
    Debt to China very bad as they may ask for concessions on major infrastructures (energy, transports etc) and/or political changes
    Debt to US controlled world Bank and IMF good, even if those countries are expected to give the same concessions or to apply political changes (domestically or toward other countries)

    Agree with Neverna, other countries bothered shoul offer loans or invest to free those countries from foreign influence ..cough cough ...or rather submit them to their influence
    I think they do. They just don't throw billions at them and bribe them to lure them into taking on loans they can't afford.

    I think most countries had their fingers burned in the '80's when they gave Latin America unbelievable credit that turned toxic when recession hit and oil prices crashed.

    In the case of Chinastan, they don't care, they have loads of money and are willing to sacrifice some of it for long term gain.

    I look forward to hearing the words "Chinastan" and "Debt forgiveness" in the same sentence. It's more "OK, give us your port/power stations/land/fishing rights, etc. then".

  21. #21
    Thailand Expat
    GracelessFawn's Avatar
    Join Date
    Jul 2007
    Last Online
    03-03-2022 @ 09:17 AM
    Location
    Somewhere.... out here.
    Posts
    2,766
    Ohoh you prolly haven't been to PI. I wasn't exagerating about the Chinese plastic invasion in flipper markets. They are slowly poisoning the flippers with those cheap plastic wares that release toxins when heated.

    All that hatred... if I get drunk enuff i might post a pic of myself naked, but you could never afford me. I'm not for sale. Keep your satangs in your pocket.
    I am so unlucky that if I fall into a barrel full of D*ick**s, I'd come out sucking my own thumb!

  22. #22
    Days Work Done! Norton's Avatar
    Join Date
    Oct 2007
    Last Online
    Today @ 07:05 PM
    Location
    Roiet
    Posts
    34,895
    Quote Originally Posted by GracelessFawn View Post
    Keep your Rubles in your pocket.
    FTFY.

  23. #23
    Thailand Expat OhOh's Avatar
    Join Date
    Jul 2010
    Last Online
    Today @ 08:43 PM
    Location
    Where troubles melt like lemon drops
    Posts
    25,222
    Quote Originally Posted by harrybarracuda View Post
    They just don't throw billions at them and bribe them to lure them into taking on loans they can't afford.
    As most are aware it's normally bombs from 10,00m, blockades, stealing gold, regime change, FX runs, down grading of credit scores.

    As most are advised by western bankers your guilt accusations should be directed to them.

  24. #24
    Thailand Expat harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    @
    Posts
    96,555
    Quote Originally Posted by OhOh View Post
    As most are aware it's normally bombs from 10,00m, blockades, stealing gold, regime change, FX runs, down grading of credit scores.

    As most are advised by western bankers your guilt accusations should be directed to them.

    As most of the bribees don't heed any sensible banker, your point is basically rubbish.

  25. #25
    Thailand Expat OhOh's Avatar
    Join Date
    Jul 2010
    Last Online
    Today @ 08:43 PM
    Location
    Where troubles melt like lemon drops
    Posts
    25,222
    Thank you for your reply and playing the game. To continue.

    Quote Originally Posted by GracelessFawn View Post
    Ohoh you prolly haven't been to PI.
    My TD tag is OhOh.

    Correct.

    Quote Originally Posted by GracelessFawn View Post
    They are slowly poisoning the flippers with those cheap plastic wares that release toxins when heated.
    Does your country not have any control on the safety of products in your markets. Or possibly your politicians do a Nelson. Start a campaign to have them banned, if what you alleged is factual.

    Quote Originally Posted by GracelessFawn View Post
    All that hatred.
    You are taking this forum and other's posts far to seriously. I've never met you, as a person, how can I hate you?

    Your posts though ......

    Quote Originally Posted by GracelessFawn View Post
    but you could never afford me. I'm not for sale


    For someone who claims to be not for sale, you appear to know one end of your, go/no go decision scale and are happy to state it here on TD.

    Quote Originally Posted by GracelessFawn View Post
    Keep your satangs in your pocket.
    Satangs, maybe not. Could trillions of them not tempt you?

    However, there maybe other chips that would interest you.

    An audience with the Pope at the Vatican, a foreign passport, a non returnable deposit into your bank account, that would keep you and family for life?

    Most know both ends, how to negotiate, when to decline or when to nod in acceptance and stick their finger into the red ink and onto the contract.

    The contract could include a secrecy clause, by both parties. With defined breakage penalties.

    As they say here in The Land of Smiles, "It's up to you."

    Last edited by OhOh; 21-05-2019 at 10:01 PM.

Page 1 of 2 12 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •