Padma Bridge will bring more investment to Barishal

Land prices have doubled in the country’s south and southwest regions as many companies have purchased land and some of them have already started developing infrastructures there with the aim to capitalise on the expected ease of doing business boosted by the connectivity through the Padma Bridge. However, these regions will keep seeing huge new investments as the bridge will create new jobs and increase connectivity with the capital city and several land and sea ports, Barishal Chamber of Commerce and Industry (BCCI) President Saidur Rahman Rintu told The Business Post’s Abdur Razzak Sohel in an interview

How hopeful are you about the development Padma Bridge will lead to?

Very hopeful. The Padma Bridge has been a dream for the people of the country’s southern region for a long time and now it is a reality. We are really excited and looking forward to its inauguration.

The bridge will establish easy and swift connectivity between Dhaka and Kuakata Sea Beach, Payra seaport and Mongla port, which will inspire many investors to invest. The people of the region are hoping to see high investment as many businesses are planning to capitalise on this area that now has huge prospects.

What are the plans of investors and what types of development activities we’ll see here?

Many companies have already shown their interest to invest in this region. I have received calls from many industrialists from Dhaka, Chattogram, Barishal and Patuakhali who want to invest. Many of them have already bought land and some even started developing infrastructures.

Garment factory investors are also highly interested. Many garment factories are likely to be established in Barishal.

Most of the workers in the factories of Dhaka are from the south. The investors want to capitalise on that fact as well. Once Padma Bridge opens and development activities start, labourers from this region will be able to work while staying in Barishal. Apart from employment generation, this will be very cost-effective for the companies as they will find workers easily.

Are any major players among the companies interested to invest?

Yes. As the bridge will establish better connectivity between everything in the southern region and the rest of the country, many big companies will choose this area to invest in for better benefits.

Some have already done that. Many new entrepreneurs are entering the tourism sector as this industry will also see huge expansion after the bridge opens.

What are the investors focusing on while buying lands?

Many investors have purchased lands to set up business in this region while some are planning or working on it. The investors are focusing on the lands in Shikarpur, Doarika and several other areas besides Bakerganj.

As a result, the land prices in these areas have increased significantly. The prices have also doubled in some of the areas. The land prices around Kuakata Sea Beach have already gone up several times.

You are in the launch business. Do you think Padma Bridge will hurt it?

I don’t think so. The launch business may incur some losses at the beginning. But that won’t last. At the end of the day, waterway transport will still cost less compared to other modes of transportation.