Swiss, Spanish envoys pitch for Bangladesh's investment climate despite terror attacks

The Swiss and Spanish ambassadors in Dhaka, in a joint statement, have said that they have faith in the investment climate in Bangladesh despite “current challenges” caused by terror attacks.

The two countries are working together for a “landmark” railway project in Bangladesh.

The comment comes at a time when there is a climate of despondency over the terror attacks in July.

Seventeen foreigners were among the 22 victims of the unprecedented attack that prompted many western countries to issue travel alerts for Bangladesh.

A train passes through Tongi rail bridge which may collapse anytime, officials of Bangladesh Railway fear. Photo: Qamruzzaman/ bdnews24.com/ Dhaka, Apr 30, 2007

The Spain based Swiss company Stadler Rail Valencia SAU has been selected as preferred bidder by the railways ministry in a tender process for supplying 70 locomotives.

Swiss Ambassador Christian Fotsch and Spanish Ambassador Eduardo de Laiglesia y del Rosal jointly paid a call on Finance Minister AMA Muhith on Tuesday to apprise him about the project.

One of the “important” elements of this project is technology transfer.

The Stadler Rail will manufacture 30 locomotives in Spain and 40 locomotives will be partially manufactured in Bangladesh, according to the statement.

Besides, Stadler Rail will also arrange 100 percent financing of the project at a “highly competitive rate”.

The development of railways is one of the priorities of the current government.

The ambassador believed that this project would “contribute immensely towards this goal.”