AD Ports Group Signs MoU For Multi-Purpose Port Development In Chittagong, Bangladesh

AD Ports Group, a prominent entity in global trade, logistics, and industry, has signed a Memorandum of Understanding (MoU) with the Chittagong Port Authority. The agreement aims to explore the future development and operation of the Multi-Purpose Port in Chittagong and other related opportunities in Bangladesh.

The MoU was signed by Rear Admiral Mohammad Sohail, Chairman of Chittagong Port Authority, and Ahmed Al Mutawa, Regional CEO of AD Ports Group. The signing ceremony was attended by Abdullah Ali Al Hammoudi, UAE Ambassador to Bangladesh; Khalid Mahmud Chowdhury, MP, Minister of State for Shipping; and Md. Mostafa Kamal, Senior Secretary, Ministry of Shipping – Government of the People’s Republic of Bangladesh.

Rear Admiral Mohammad Sohail emphasized the significance of the Multi-Purpose Port in Chittagong for Bangladesh's economy. "The Multi-Purpose Port in Chittagong is a priority for the Government of Bangladesh. It will be a game changer for the regional economy in general and Bangladesh economy in particular," he stated.

Sohail expressed optimism about collaborating with AD Ports Group on this crucial project. "We are pleased to collaborate with AD Ports Group on the development of this vital project, leveraging their expertise and capabilities as a global trade and logistics player. We hope that this MoU will pave the way for further cooperation that will attract more foreign direct investments to Bangladesh," he added.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, shared his enthusiasm for the project. "We are excited to explore the development and operation of the Multi-Purpose Port and other ancillary opportunities in Chittagong, the main seaport of Bangladesh," he said.

Al Shamisi highlighted AD Ports Group's commitment to leveraging its experience and capabilities to support increased trade volumes in one of South-East Asia's fastest-growing economies. "We look forward to leveraging our experience and capabilities to assist our partners in addressing increased trade volumes in one of the fastest growing economies in South-East Asia, guided by the vision of our wise leadership," he noted.

Economic Impact

Chittagong Port handles over 90 percent of Bangladesh’s international trade. The port is also a critical component of a multimodal network linking Bangladesh to its hinterland. Additionally, it provides sea access for landlocked Himalayan countries such as Nepal and Bhutan, as well as India's Northeast region.

The collaboration between AD Ports Group and Chittagong Port Authority is expected to enhance trade efficiency and attract foreign investments. This partnership aligns with Bangladesh's strategic goals for economic growth and regional connectivity.

Future Prospects

The MoU signifies a step towards strengthening bilateral relations between the UAE and Bangladesh. It also underscores both nations' commitment to fostering economic development through strategic infrastructure projects.

This collaboration is anticipated to bring significant benefits not only to Bangladesh but also to neighbouring regions that rely on Chittagong Port for their maritime trade needs.

With inputs from WAM