TBT Desk: Asian Development Bank (ADB) on Monday hosted a business opportunities seminar (BOS) aimed at providing a platform for accessing information on a wide range of ongoing and upcoming opportunities.
The BOS was held for ADB-financed projects where over 500 participants consisting of suppliers, contractors, consultants, officials, representatives of development partners and members of diplomatic community attended.
Ehsanul Hoque, Senior Secretary, Road Transport and Highways Division, inaugurated the event. Various stakeholders from business and other trade related organizations were present.
Director, Procurement, Portfolio and Financial Management Department of ADB Jesper Pedersen delivered the keynote address.
Pedersen highlighted ADB's efforts to enhance its procedures to better meet the growing and evolving needs of developing member countries, with a strong focus on sustainability, transparency and quality in procurement.
"ADB underscores higher skills and efficiency for accelerated project implementation as Bangladesh diversifies its economy, implements reforms to drive economic transformation, and graduates from the least developed country status in 2026," said Country Director Hoe Yun Jeong.
"We are working with stakeholders to reduce procurement time while ensuring economy, efficiency, fairness, transparency, quality, and value for money." "In line with ADB's strategic direction on expanding private sector operations, we are also promoting private sector business opportunities" Jeong added.
The ADB reaffirmed its commitment to supporting the growth of local industries, noting that Bangladeshi contractors and consultants have consistently demonstrated success in securing contracts both domestically and internationally, as ADB operations are projected to expand in the coming years, these opportunities are expected to grow further.
In its 52-year partnership with Bangladesh, the ADB has mobilized over $62 billion in loans and grants, including co-financing to improve infrastructure, public services and social development for the country's people.
The ADB's current sovereign portfolio in Bangladesh has 51 projects and programmes worth of over $12 billion and it is a leading multilateral development bank supporting sustainable, inclusive and resilient growth across Asia and the Pacific.