The Padma Bridge is not only a pile of brick and cement; it is a symbol of Bangladesh’s pride, honour and ability.
These words from Bangladesh Prime Minister Sheikh Hasina sum up the importance of the Padma Multipurpose Bridge, ranked 122nd amongst other longest bridges globally, which has been thrown open by the Prime Minister for use recently.
The Padma Multipurpose Bridge is a two-level steel truss bridge with a four-lane highway on the upper level and a single-track railway on the lower level, connecting to the Padma Rail Link project.
Experts have it that with this mega project, the GDP growth of the south-western part of Bangladesh will increase by 2.5 per cent, while the country’s overall GDP will increase by 1.23 per cent per annum even if the Padma Rail Link project is expected to transform Bangladesh into a sub-route of the Trans-Asian Railway Network.
Controversy to unmatched accomplishment!
After years of delay due to allegations of corruption that forced the World Bank to walk away from the nearly US $ 4 billion mega project, now connecting Bangladesh’s capital city Dhaka to the underdeveloped south-western region, the throwing open of the multipurpose bridge marked a momentous occasion in the South Asian nation’s history, which coincidentally is one of the largest mega projects Bangladesh has ever undertaken.
In 2012, the World Bank withdrew from a US $ 1.2 billion loan agreement for the project following allegations of corruption. As it would have been, other donors, including Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA), also pulled out of the project in no time.
Given the unwanted turn of events, Bangladesh Government took it upon itself to realise this long-awaited dream, which materialised (has been built) over a period of almost eight years and through the Government’s own funds.
The bridge is not only an engineering marvel and a symbol of the economic transformation of the country under the leadership of Prime Minister Sheikh Hasina, but also an icon of Bangladeshi pride and nationalism, as is evidenced from the Prime Minister’s own admission.
Apparel sector set to gain
“We are looking for land to establish an apparel unit in Barishal,” opined the Chairman and Founder of Sheltech and Envoy Group Kutubuddin Ahmed, adding this particular region of Bangladesh had long been attractive for cheaper and easier water transport but for the long ferry delays to cross the mighty Padma, kept entrepreneurs away from investing there.
But that was until the Padma Bridge happened!
“Investments in this region will now be most profitable,” Kutubuddin claimed.
It’s just not Sheltech, scores of other apparel makers, scouting for cheaper labour and other benefits, are now making a beeline for trans-Padma even if according to industry insiders, factors like cheap labour, tax holiday for industries and the newly-established direct highway routes across the Padma Bridge, are what are driving the entrepreneurs to choose the region over others for investment purpose.
Helping the cause is the Bangladesh Economic Zones Authority (BEZA), which has already prepared a proposal for developing 17 economic zones in the south-western region.
As per BEZA Executive Chairman Shaikh Yusuf Harun, work on two economic zones in Mongla will begin soon. Besides, Gopalganj, Khulna, Madaripur, Satkhira and Kushtia economic zones will be implemented in phases.
The Kushtia Economic Zone will be built on 382 acres of land in Bheramara upazila of the district for which feasibility study is already underway.
Besides, the development project proposal has been prepared to set up an economic zone on about 800 acres of land near Mawa in Dhaka’s Nawabganj, he noted.
Once these initiatives are implemented, the planned industrialisation of the country, especially in the south-western region, will be more dynamic, claimed Shaikh Yusuf Harun, adding, more than one crore people will also be employed in this region.
Meanwhile, Bangladesh Investment Development Authority has also started work on drawing in large investments in a variety of other sectors as well.
“I am taking advantage of this opportunity without a doubt. I intend to open a new clothing factory in Khulna. I also urge my peers to invest in the region,” stated former BGMEA President Abdus Salam Murshedy, calling upon other apparel makers.
It may be mentioned here that way back in the 1960s, Khulna was one of the major industrial cities in Bangladesh but with time, it experienced the flight of almost all factories. However, the opening of the Padma Bridge has rekindled the hopes again.
Cutting down crucial lead time
Padma Bridge will help the country’s export-oriented apparel industry to reduce lead time as it will directly connect the Mongla and Benapole Ports to Dhaka and Chittagong, respectively.
This will help apparel makers, who are manufacturing in Mongla Export Processing Zone, to transport goods to Chittagong easily within a shorter period of time, who otherwise with the existing systems, have to transport goods via river and sometimes through roads, that are time consuming on account of various reasons.
In 2021, Mongla Export Processing Zone accounted for exports worth US $ 812 million, which is now set to grow manifold over, thanks to the opening of the Padma Bridge.
Transborder trade in for a facelift
Besides facilitating economic growth, the bridge will also make easy trade and commerce with neighbouring countries like India, Nepal and Bhutan, to which apparel makers will be able to transport goods through roads.
India, in particular, holds a lot of significance in this regard especially in light of its burgeoning fashion retail sector, which is now to a large extent dependent on Bangladesh apparel makers to cater to its requirements.
“The closest neighbour of Bangladesh as it is, India with its high economic growth is emerging as a major market for Bangladesh with very high potential and we need to tap the opportunities,” opined Vice Chairman & CEO of the Export Promotion Bureau, A. H. M. Ahsan, in an earlier interview with Apparel Resources (AR).
In terms of apparel products, shirts, tops, denim trousers, undergarments, polo shirts, T-shirts and trousers (for men and women) have already become popular in India even if garment exporters in Bangladesh credit popularity of the ‘Made in Bangladesh’ apparels and increasing exports to the growing middle-income groups in India.
“There is enormous economic potential but we could not properly utilise this,” opined lawmaker and former FBCCI President Md Shafiul Islam.
The fact that India is one of the major cotton producing countries while Bangladesh’s main export earning sector is apparel, adds another dimension to the issue.
“We can source cotton from India and export finished goods to the neighbouring country, thereby enhancing mutual trade,” Shafiul added.
It’s not just Bangladesh, the Padma Bridge is going to be of great advantage for India as well.
As per some Indian officials, who spoke to the media, the Padma Multipurpose Bridge is expected to benefit West Bengal and the north-eastern states in terms of both connectivity and trade.
“The connectivity with Kolkata will be much better and India will benefit from this project,” said an unnamed official, while experts underlined the bridge will play an important role in enhancing cross-border trade while also help tap the economic potential in the South Asian economic bloc.
The Multipurpose Bridge will transform Bangladesh into a viable route for the Trans-Asian Highway (N-8) and the Trans-Asian Railway Network, improving the regional and international connectivity with India, Bhutan and Nepal.
To put it in a nutshell, the Padma Multipurpose Bridge will not only boost the economic stardom of Bangladesh, but also transform it into a regional hub for development, connectivity and investment, to take the country to an altogether different level.
