Experts demand 51pc domestic ownership in seaports, airports and energy sector

"Foreign dominance is increasing in the management of the country's strategic infrastructure, including seaports, airports, and the energy sector. Despite the capabilities of domestic entrepreneurs in these sectors, they are being marginalized - a development that goes against the national interest in the long term.

Experts have therefore demanded at least 51 percent domestic ownership and mandatory technology transfer in all foreign investments in these assets.

These views were expressed at a policy-making roundtable discussion organized by the Center for Strategic Research (CSR) at Hotel Sarina in the capital on Tuesday. CSR Executive Director Shakib Anwar delivered the keynote address at the event, titled 'Priority of Domestic Investment in Strategic Assets'."

State Minister for Planning Jonayed Saki, Member of Parliament Fazle Huda Babul, President of Nagorik Oikya Mahmudur Rahman Manna, Sujon Secretary Badiul Alam Majumder, CAB President Abu Alam Shahid Khan, Former Secretary Shafiq Zaman, Former Director of BSCIC Abu Taher Khan, Dhaka Steam Advisory Secretary Hasan Mamun, Chief Executive Officer of Dhaka Steam Col (Retd) Md. Sohel Rana, Center for Strategic Research Coordinator Subuj H Chowdhury, FCA, ATJFB General Secretary Baten Biplob and Center for Strategic Research Program Director Iqtandar Hossain Howlader participated in the discussion.

In the main article, Shakib Anwar said that in many cases, domestic money and loans are being used in the name of foreign direct investment (FDI). Citing the example of Patenga Container Terminal (PCT), he said that out of the $170 million investment by foreign operators, $100 million or 58.8 percent came from loans from domestic and regional banking and financial institutions.

On the other hand, CDDL and MGH Group are proof that domestic entrepreneurs are capable of providing international quality services if given equal opportunities. In the NCT of Chittagong Port, CDDL of the Bangladesh Navy has shown 46.66 percent more productivity than the previous operator. Similarly, MGH Group, which operates NCT, has proposed to pay more revenue per container than the foreign company DP World. Moreover, MGH Group has taken the initiative to build a green terminal in Laldia at a cost of Tk 550 crore.

The speakers said, "Foreign companies are lobbying at the ambassador and head of state levels to get ground handling services at the third terminal of Shahjalal International Airport. But the government does not have any meaningful dialogue with domestic logistics companies. We are not against foreign investment, but showing 'FDI' with loan money like PCT makes no sense. In the case of foreign technology partnerships, domestic majority ownership or joint ventures should be made mandatory.