Calling the agreement to operate Chattogram Port’s New Mooring Container Terminal (NCT) a deal to “sell the country” is a cheap and baseless remark, Commerce Minister Khandakar Abdul Muktadir has said.
Responding to questions from journalists after a discussion and grant distribution programme organised by Sylhet City Corporation today (9 October), ahead of Durga Puja, he said the agreement aims to increase the terminal’s capacity and efficiency and is for a fixed period, after which Bangladesh can either renew it or let it expire.
DP World, a Dubai-based global port operator, has been awarded the responsibility of operating NCT, the largest terminal at Chattogram Port. A 15-year concession agreement was formally signed yesterday (8 October).
Explaining the rationale behind the agreement, Muktadir said Bangladesh must make its production and export costs competitive with those in other countries to attract both foreign investment and new investment from domestic businesses.
“If the government cannot take Bangladesh to a globally competitive position, how will it attract investment?” he asked.
He said the government wants to improve efficiency at Chattogram Port to strengthen the country’s competitiveness.
The minister also stated that workers currently employed at the port will not lose their jobs under the agreement.
“Those working at the port will not lose their jobs. With increased efficiency, their benefits will improve, and their remuneration will also increase,” he said.
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