Daewoo Grows in South Aisa

Kang Young-won, president and CEO of Daewoo International, contributed the following message to The Korea Times on the occasion of the Bangladeshi National Day.

We extend our heartfelt congratulations to Bangladesh on its 37th National Day.

Since 1973 when they first established diplomatic relations, Korea and Bangladesh have grown as strong partners in many ways, particularly economic.

The Bangladeshi economy is growing rapidly and is listed among the ``Next 11'' markets with the most potential in the world by prominent economists.

The Bangladeshi government is making vigorous efforts to attract more foreign investment to contribute to economic development, lower unemployment, new skills and increases in exports.

In particular, the government has established Export Processing Zones, the Bangladesh Export Processing Zone Authority and the Bureau of Investment, which are to provide foreign investors with legal services and tax benefits and are expected to propel its economic engine even faster.

Daewoo International was the first Korean company to set up a branch office in Dhaka, in July 1977.

We have attempted to support economic liveliness in Bangladesh by facilitating machinery exports.

Through the Embassy of Bangladesh in Korea, Daewoo International has provided raw materials such as steel, nonferrous metals and raw cotton to Bangladeshi steel firms, electricity / communication companies, cement companies and cotton mills.

In addition, using the Economic Development Cooperation Fund, we have provided the Bangladeshi government sector with infrastructure facilities.

Most recently, we have assisted the implementation of a gas pipeline project by providing pipes and ports through funds from the Asian Development Bank. We hope to increase assistance even further.

Daewoo International will strive to contribute to Bangladesh's economic development, and as a private firm, we will work to promote friendship at the state level.

Once again, we offer congratulations on the National Day of Bangladesh, and wish Bangladesh all the best.