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    Thailand Expat misskit's Avatar
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    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
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    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.

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    When it comes to throwing money at corrupt governments and tinpot regimes the chinese actually outdo the Americans and that's saying something.

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    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
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    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
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    I can imagine their malls and markets over-flowing with cheap smelly Chinese plastic wares and poor quality Chinese goods.

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    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; Yesterday at 01:06 PM.
    A tray full of GOLD is not worth a moment in time.

  8. #8
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    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
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    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
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    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
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    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
    disturbance in the Turnip baldrick's Avatar
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    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

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    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; Yesterday at 02:11 PM.

  14. #14
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    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" ...

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    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
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    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
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    Any breakdown on how much of that investment was for signatures agreeing to sell off whatever few resources the country owns?

  18. #18
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    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.


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