Govt seeks over $1bn private investment in tourism 

The Bangladesh Tourism Board (BTB) has formulated 10 development project proposals (DPPs) which will require around $1.18 billion investment, mostly private, in the next 15 years, said Md Mokammel Hossain, secretary to the Ministry of Civil Aviation and Tourism.

Of the total sought amount, private investors (local and foreign) will have the opportunity to invest $1.07 billion for the development of these tourist zones in Kuakata, Padma Bridge, Shahpori Dwip, Sundarbans, Shalbon Bhihar, Sompura Mahabhihara, Lawachara, Tanguar Haor, Padma Char and Nazirtek areas.

The private investors will mainly invest in constructing star hotels, resorts, amusement parks and other luxury facilities, the tourism secretary said in a parallel session of Bangladesh Business Summit 2003. 

Besides, the government will also invest $105.5 million to develop infrastructural facilities like roads, electricity and security, he said.

The session titled "Market Readiness and Opportunities for Foreign Direct Investment (FDI) in the Tourism Sector" was held on Monday, the third and final day of the business summit being held at the Bangabandhu International Conference Centre in the capital.
Mokammel Hossain said the 10 sites have been categorised as an integrated tourism zone, multi-zone development, site development, and special tourism zone.  

"For this, we need foreign direct investments to usher in a new era in the tourism industry as we are formulating a master plan for the sector. There are unexplored areas of investment from non-resident Bangladeshis and the increasing rate of foreign remittance can be tapped into the sector as investment," he added.

Abu Tahir Muhammad Zaber, chief executive officer (additional charge) of BTB, told The Business Standard (TBS), "The 10 DPPs have been prepared as an action plan for the first-ever master plan that we are preparing for boosting the tourism sector. We want to implement these projects on a priority basis."

"The proposals will be placed in the next meeting of the National Tourism Council, headed by the prime minister. After that, the DPPs will be sent to the Ministry of Planning as usual," he added.

According to BTB sources, wellness and nature-based tourism will be promoted in Lawachara, Tanguar Haor and Sundarban areas.

The Padma Bridge and Padma Char will be developed as integrated tourism zones where the concept is meetings, incentives, conferences and exhibitions (mice tourism).

The highest $341 million in private investment and $40 million in public investment have been proposed for Padma bridge-centric project while the figure is $136.5 million for the Padma char project.

Around $200 million in private investment has been sought for the Kuakata project to develop beach-centric leisure tourism.
Shahpori Dwip, in Teknaf, will be developed as an integrated zone for business or leisure tourism.  

"The proposals are excellent but we need huge marketing from the government side to develop the sector and attract investors from abroad. We do not have sufficient budget to highlight the tourism potential of Bangladesh to foreigners," said Hakim Ali, president of the Bangladesh International Hotel Association at the session.

Prof Dr Santus Kumar Deb, chairman of the Tourism and Hospitality Department at Dhaka University, said, "There are some prospective projects like the ones planned for Shahpori Dwip, Nazirtek and Shalbon Bhihar. We can attract China, the UK, the USA, Germany and India for investment in these zones. But we have to ensure some policy changes first to attract those countries."