World's largest port handlers eye big investment in Bangladesh

Highlights:

• DP World and AP Moller–Maersk came up with the proposals in a meeting with CA Yunus in Davos
• DP World CEO said they want to invest in New Mooring Container Terminal
•  AP Moller–Maersk said they want to invest in Laldia container terminal

DP World and AP Moller–Maersk, two major port handlers in the world, have expressed their interest in making big investments in Bangladesh's shipping industries to help the country build new ports along the coast of the Bay of Bengal and become a major global export hub.

They came up with the proposals when Sultan Ahmed Bin Sulayem, Group chairman and chief executive officer of DP World, and Robert Maersk Uggla, chair of AP Moller–Maersk, met Chief Adviser Professor Muhammad Yunus in Davos, Switzerland, during the World Economic Forum Summit on Thursday (23 January), reads a press statement issued by the CA's Press Wing.

Robert Maersk Uggla, Chair of Danish shipping and logistics company A.P. Moller – Maersk, calls on Chief Adviser Professor Muhammad Yunus during WEF Summit at Davos, Switzerland, on 23 Jan. Photo: Chief Adviser's Facebook

DP World CEO said they want to invest in New Mooring Container Terminal, aiming to reduce congestion in Chittagong Port and reduce emissions to increase the efficiency of the port.

"The CEO of the UAE-based logistics company insisted investment in the New Mooring Container Terminal near Chittagong Port would help Bangladesh attract more foreign direct investment and reduce pollution," reads the press statement.

"It happened in every country where DP World invested, Sultan Ahmed Bin Sulayem told the chief adviser, adding that they also wanted to invest in Bangladesh in 2022 but were snubbed by the then government," it adds.

Sultan Ahmed Bin Sulayem said that they also want to introduce a digital online customs procedure in Chittagong Port, which would help reduce corruption drastically.

He said that they also want to invest in inline container depots in Bangladesh.

The Chief Adviser told Sultan Ahmed Bin Sulayem that Bangladesh wants to make Chittagong Port more efficient and build more ports along the coast of the Bay of Bengal.

"We have to do it as our future lies with the Chittagong Port. We want to make it the biggest port in the region," said the chief adviser.

The chief adviser said that Bangladesh wants to increase the efficiency of Chittagong Port, as the country believes it can be a regional hub for exports handling containers for Northeast Indian states and Nepal and Bhutan, among others.

"We have to do it fast because time is a cost," said the chief adviser.

Danish company AP Moller–Maersk chair Robert Maersk Uggla said they want to invest in Laldia container terminal, also near Chittagong Port, and transform it into a green port with their technical support.

Robert Maersk Uggla said they implemented similar projects in Morocco and Oman. Salalah Port of Oman has become one of the best ports in the world with their investment, Uggla told the chief adviser.

The chief adviser invited the DP World and AP Moller–Maersk officials to visit Dhaka with concrete investment proposals.

"We have to build a series of ports along the coast of the Bay of Bengal to use our full potential as a regional business hub," said the chief adviser, welcoming FDI for capacity building of Bangladeshi ports.