Bangladesh sees $200 million Thai investment in hospitality sector

July 16, 2024
Bangladesh and Thailand flag
  • PM's Press Secretary Md Nayeemul Islam Khan briefed the reporters after the meeting

Bangladesh sees Thai investment worth over 200 million US dollars in the hospitality sector as a high-powered Thai delegation will visit Sabrang Tourism Park in Cox's Bazar and  Naf Tourism Phek in Teknaf on Tuesday, sources said.

Thailand has vast experience in the hospitality industry and the Southeast Asian country has been one of the most popular tourist destinations in the world.

The hospitality sector of Bangladesh is growing slowing and the experience of Thailand will help Bangladesh to become a successful story in the hospitality industry, said Javed Ahmed, former Chief Executive Officer of the Bangladesh Tourism Board (BTB).

The tourism sector of Bangladesh has returned to the pre-Covid 19 period as the country attracted a record 6.5 lakh tourists in 2023 as expat Bangladeshis living in different parts of the world visited the country, sources said.

Out of 650,000 tourists, some 295,000 Indian tourists visited Bangladesh in 2023. However, mostly expats Bangladeshis living in different parts of the world contributed to the promotion of the tourism sector of Bangladesh.

However, the earnings of the inbound tourism sector stood at 439,231 US dollars in 2023, 382,732 US dollars in 2022, 227,962 US dollars in 2021, 178,240 US dollars in 2020, 322,058 US dollars in 2019 and 288,991 US dollar in 2018.

 Bangladesh attracted some 529,000 tourists in 2022 and the Bangladesh Tourism Board (BTB) has set a tarter of wooing some seven lakh tourists this year.

Adviser to the Prime Minister of Thailand Dr Nalinee Taveesin visited tourism parks in Cox’ Bazar with her delegation on Tuesday.

The business delegation included Vice Chairman of Board of Director Navavej International Hospital Nop Narongdej, Chairman and CEO of Wyncost Industrial Park PLC Jak Chamikorn, Assistant to the President of Rojana Industrial Park Waran-U Yuwanich, Special  Assistant to CEO of Green Business Integration Energy Abste PLC  Thanin Wanasuthanon, Senior Assistant to Managing Director of  B. Grimm Power Company Limited Rangsima Pakach, Senior Vice President  of Group Commercial and Government Liaison of  SCGJWD Logistics PLC Nattapume Pavarats, President and  CEO of Base Sony Group PMC Piriya Tanerananonth, President of Heritage Snacks & Food Company Limited  Vares Ploomphuisan, Vice President of  Sea Value/Sea West Frozen Food Company  Limited  Vichitra Aramwattananont,  Director of Corporate Governance and Sustainability Committee of President Foods PLC Pojjana Paniangvait, General Manager (International Franchise) of The Maciej Food Group Private Limited Maciej Pawel Kuczynski, Representative of Sutech Engineering Company Limited  Pia Pruksathorn, Managing Director of Berth Corporation . Yunchai Boonchai and Managing Director of Kevic Kate International (Thailand) Nakah Tharwichawatt.

Director of Sabrang Tourism Park at Teknaf, Cox’s Bazar Sharif Ahmed was with the Thai delegation during their visit to the destination.  

Sources in the BEZA said international tourists can enjoy their holidays at the end of next year as construction of some hotels, motels and resorts will be completed by that time.

“This Sabrang Tourism Park will be an exclusive tourist zone that will only cater to the international tourists  “ said a high official of the BEZA while talking to this correspondent  at his office recently.

Sabrang Tourism Park will be the first exclusive tourism park in the Cox’s Bazar district encompassing an area of 1027 acres. Sabrang is an amazing hill and sea beach territory, multifaceted, diverse and admirably beautiful. The purest air, lofty hill, sea and lagoon create perfect conditions for the development of all types of tourism & entertainment, said a high official of BEZA.

As of today, the BEZA allocated 118.26 acres of land to 28 organisations in Sabrang Tourism Park at Teknaf, Cox’s Bazar and got an offer of 458.18 million US dollars until June 30, 2024, sources said.  

Facilities like hotel complexes, eco-tourism elements, floating jetty, marine aquarium, eco-cottage, floating aquarium and floating restaurant will be located to operate as an exclusive tourism park.

Executive Chairman of Bangladesh Economic Zones Authority (BEZA) at the Prime Minister’s Office (PMO) Dr Md Sarwar Bari said that the government has prepared a master plan to develop three tourism parks at Cox’s bazar.

He said that within years, Bangladesh will become a successful country in the tourism sector like countries Thailand, Malaysia, Indonesia, Bhutan, the Maldives and Sri Lanka.

The BEZA executive chairman said ‘Bangladesh Economic Zones Authority has been working relentlessly to set up three special tourism parks in Cox’s Bazar district. Within the next 5 years, Bangladesh will see investment worth several billion US dollars in the special tourism parks in Cox’s Bazar district.’

After setting up three special tourism parks ---Sabrang and  Naf tourism parks and environment-friendly Sonadia eco-tourism park---the tourism parks will  support to employment generation of about 50,000 jobs in the next 10 years, and the same time financial activities will be $ 2 billion, said BEZA executive chairman added.

Meanwhile, Prime Minister of Bangladesh Sheikh Hasina on Sunday  laid emphasis on increasing trade, commerce, and cooperation among South Asia and South East Asia, alongside putting importance on coast to coast communications between Bangladesh and Thailand.

“If needed, Bangladesh could offer a separate land in Cox's Bazar where the Thai investors could flourish their tourism business," she said.

The premier said this while visiting Adviser to the Prime Minister of Thailand Dr Nalinee Taveesin called on her at her official residence Ganabhaban  in the city.

PM's Press Secretary Md Nayeemul Islam Khan briefed the reporters after the meeting.

Dr Nalinee, who holds the rank of minister, is now visiting Bangladesh as part of her four-day official visit. She is also a Thai trade representative.

She arrived in Dhaka on Saturday and is leading a Thai business delegation.

The prime minister said upon completion of the Cox's Bazar international airport, it would be easier to communicate with Thailand.

She mentioned that as the maritime boundary of the country has been identified, it would be better to do every work related to the Blue Economy.

"As the maritime boundary has been established, we now have immense opportunities, and investors from Thailand can establish a joint venture with any local investor for utilising their expertise here," she said.

Dr Nalinee said they are trying to find a good match in energy, logistics, food processing, seafood and tourism.

"They are actively searching for a partner here, and they are working," the PM’s press secretary said.

He said the Thai delegation also expressed their interest in halal food processing industry as they have thousands of halal food products.

"They said that there is an extraordinary opportunity for Bangladesh to collaborate in this sector for grabbing global and national markets," Khan said.

Civil aviation and tourism minister M Faruk Khan on Sunday said the government plans to establish a dedicated tourism university to create expert manpower for the country's tourism industry.

He hoped that all stakeholders of the tourism sector would come forward sincerely for the successful implementation of the initiative to establish a tourism university.

The minister was speaking as the chief guest of Association of Travel Agents of Bangladesh (ATAB)-Tourism Training Institute’s certificate awarding ceremony among the trainees in the capital, a press release said.

In his speech, Khan also put emphasis on the language expertise of the trainees and said the tourism sector's apprentices have to develop in such a way that they become fit to work anywhere in the world.

Pointing out that the travel agents are playing an vital role in world connectivity, the minister said travel agents have to deliver services with integrity.

The agents also need to be aware to check any cheating attempt on tourists as well as travelers must not face any trouble in taking a trip abroad, he added.