The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: We remain positive on Bangladesh's construction sector over the long term as the government
continues to make meaningful progress in improving the country's institutional and regulatory framework.
However, we note that these reforms are coming from a low base, and rising security threats in the country
pose downside risks to our construction growth forecast of 9.5% in 2016.
Latest Updates And Structural Trends
- According to the World Bank, Bangladesh had the third highest level of private sector participation
(between 2011-2015) in infrastructure investments (worth USD2.7bn) in energy, transport, water, and
sanitation sectors among 56 countries that are eligible for support from the International Development
Association (IDA). We expect this positive trend to be sustained as Bangladesh continues to make
progress in its legal and institutional framework, particularly with the introduction of its Public-Private
partnership act in September 2015.
- The Bangladeshi government postponed the closing bid for a USD6.7bn infrastructure project funded by
Japan's official development assistance in July after the terrorist attack on a restaurant in Dhaka earlier
that month resulted in death of seven Japanese nationals. The tendering process for the massive
infrastructure project which includes two 600-megawatt coal-fired power plants and a deep-sea port in
Matabari was scheduled to be completed by late-July.
- China Railway Construction Corporation (CRCC) signed a USD4.44bn contract to build a railway
line in Bangladesh. The company received final approval from the Bangladeshi government in July to
start building the 215km rail link connecting the capital city of Dhaka to the Jessore district via Padma
Bridge. The scheme reportedly includes construction of 66 main bridges, 244 minor bridges, 14 rail
stations and procurement of 100 passenger coaches. The project will be funded through a soft loan from
China and from Bangladesh's own funds. Work is expected to be completed by June 30 2022.