BE Magazine

Monthly business magazine
News Snippets
12
News Snippets
Saudi inked $2.5b investment in the power sector
ACWA Power, a Saudi Arabia based company, recently signed a memorandum of understanding (MoU) with
Bangladesh Power Development Board (BPDB), for investing around US$2.5 billion in power and energy sector,
aiming for Development of Natural Gas/R-LNG Based Combined Cycle Power Plant in Bangladesh. The power
plant will be set up within the next 4-5 years. ACWA Power Chairman Mohammed Abunayyan signed the
agreement with BPDB Chairman Engineer Khaled Mahmood.
Greenland Malaysia keen to
invest in Bangladesh
Greenland Group, the Shanghai-based real
estate and property developing company of
China stepped into the Malaysian market
during 2014 and has completed many
remarkable projects. Now the Malaysian entity
is keen to step in the Bangladesh housing and
real estate sector. The Managing Director Mr.
Lim Sun Peng met the Housing and Public
Works Minister Mr. SM Rezaul Karim recently
and expressed the company’s intent about
investing in Bangladesh. They are interested
in ‘Business-to-Business’ or ‘Public-Private-
Partnership’ projects, with a focus on microhome
or micro-housing, following the models
of Malaysia, Indonesia, and Singapore.
Bangladesh fastest-growing
economy in South-Asia
World Bank report on the economic situation ranked
Bangladesh as the second fastest-growing economy in
South Asia, after Bhutan. The report projected a 7.2%
growth for Bangladesh in 2020, following Bhutan’s
7.4%. India has been forecasted to grow at 6.9%, Nepal
6.4%, Maldives 5.5%, Sri Lanka 3.3% and Pakistan 2.4%.
World Bank predicts that Bangladesh is projected to
grow 7.3% in the next fiscal year.
Monthly business magazine
december, 2019