Three firms spending Tk 1,000cr on first private submarine cable

Three local companies are spending about Tk 1,000 crore for the first private submarine cable that will connect Bangladesh with the outside world for data transmission. Three private licensees of submarine cable — Summit Communications, CdNet Communications and Metacore Subcom Ltd — have formed a consortium to install the cable, which will have the capacity to supply 45,000Gbps bandwidth. The 3,000km undersea cable, originating from Singapore, will connect to Bangladesh’s Cox’s Bazar. The fibre laying process will be conducted in two phases. Bangladesh is a member of the South East Asia-Middle East-Western Europe 4 (SEA-ME-WE 4) consortium, the first undersea cable with which Bangladesh was connected in 2006. It supplies about 800Gbps bandwidth.

Source: https://www.thedailystar.net/business/news/three-firms-spending-tk-1000cr-first-private-submarine-cable-3481351

ADB to give Bangladesh $1 billion loan for five projects

The Asian Development Bank (ADB) today signed multiple agreements with Bangladesh to provide the country with $1.026 billion in loans for five different projects. The projects are taken for energy efficiency, vaccine production, clean water and sanitation in Chattogram Hill Tracts, improving computer and software engineering education in three universities and upgrade Dhaka-Northwest international road corridor. The assistance forms the third tranche of $1.2 billion multitranche ADB loans for the Second South Asia Subregional Economic Cooperation Dhaka-Northwest Corridor Road Project. The Smart Metering Energy Efficiency Improvement Project taken as part of the government’s efforts to reduce losses by installing 650,000 smart prepaid gas meters for residential customers, primarily in South Dhaka and Narayanganj will get $200 million ADB loan.

Source: https://www.thedailystar.net/business/news/adb-give-bangladesh-1-billion-loan-five-projects-3481076

One-stop service centre opens at BSEZ for investors

A regional one-stop service centre (OSSC) was inagurated at the Bangladesh Special Economic Zone (BSEZ) in Araihazar, Narayanganj on Tuesday aimed at ensuring a seamless solution for potential investors. The regional OSSC would act as a central hub for various administrative processes, including licensing, permits, and customs clearance, says to a press release. The Bangladesh Economic Zones Authority (BEZA) set up the OSSC with the technical cooperation of the Japan International Cooperation Agency (JICA) under the ‘Special Economic Zone Management and Investment Promotion Capacity Building Project.’

Source: https://today.thefinancialexpress.com.bd/trade-market/one-stop-service-centre-opens-at-bsez-for-investors-1701188092