Mali, a potential business hub for Bangladeshi investors
No significant industry develops there
Mosque of Djenné, Mali. Image: ulldellebre—iStock/Thinkstock
Written by Ahamed Ullah, back from Mali
Bangladesh may tap the potential market in Mali, by setting up different industries, including pharmaceutical companies, in the West African country.
Malian people said they are facing difficulties in buying medicine due to its exorbitant price. Apart from the high price, they have also mentioned lack of supply of medicine, an essential item for treatment of various diseases.A top businessman of Mali said they do not have a significant industry despite huge resources.
They will welcome investment in various sectors, including health and agriculture, from Bangladesh as peacekeepers from Bangladesh have already won the hearts of 20 million Malian standing by them in crisis.
“Bangladeshis may set up pharmaceutical factories and cultivate the vast land in Mali as we face troubles due to shortage of medicine and agricultural production amid manpower crisis,” Mamadou N’Fa Simpara, managing director of Simpara Group, told the Daily Sun.
The Daily Sun correspondent recently visited the African nation, which is about nine times bigger than Bangladesh.
Mamadou, also a former lawmaker, said Mali has great potential for trade and commerce. Their vast tracts of fertile lands have remained uncultivated due to lack of agricultural workers and agricultural technology. Some 90 percent people of the country are Muslims. They have to depend on imports as they do not have mentionable industries.
PRAN-RFL Group of Bangladesh has started business in Mali while Walton is going to market their electronics products there soon.
Despite the activities of terrorists in different parts of the country, public life has not stopped. The situation in the capital Bamako is as normal as in Dhaka. More than 90 percent of the country’s population live in southern Mali, especially in the capital Bamako.
According to the Malian businessmen, Bangladesh has the opportunity to invest in various sectors, including agriculture and pharmaceuticals.
The currency of Mali is called CFA Franc. The value of one dollar is equal to 550 CFA Franc. This common currency is used in 14 countries in Africa.
Gold is the main mineral of Mali. Mali is the third largest producer of gold in Africa, after South Africa and Ghana. But it cannot play any role in changing the destiny of its common people.
Mali was once part of the West African Empire that controlled trans-Saharan trade. The amount of unused land in the country is so countless that there is no boundary between the lands.
While visiting different parts of Bamako, this correspondent saw various installations that bore the signs of Mali’s golden age.
Mamadou N’Fa Simpara praised the role of Bangladeshi peacekeepers in UN peacekeeping missions and said, “As Muslim, Bangladeshi peacekeepers are very sympathetic to us. They help our people in various ways beyond the responsibilities of the United Nations.”
“We [Malian people] have brotherly relations with Bangladesh. We also want to work together. The people of Mali have given the army of Bangladesh a place in their hearts. We believe this relationship will lead to the expansion of trade. Adequate strategies and methods need to be determined for this,” he added.
Mamadou N’Fa Simpara, who is also the honorary consul of Bangladesh to Mali, said, “Our health sector is very backward. Besides, the high cost and inadequate supply of medicines is beyond the purchasing power of the common people. In this case, there is a huge potential for export of medicines from Bangladesh to Mali.”
“Our vast fertile lands are uncultivated. We need agricultural workers and agricultural technology. The people of our country are interested in working with Bangladesh in agriculture and trade. The agricultural workers of Bangladesh can cultivate the vast agricultural land of Mali on lease,” he said.
He also said Malian farmers are lagging far behind due to lack of agricultural knowledge. By sending agriculturists and agricultural labourers, Bangladesh can contribute to the agricultural development of Mali as well as create opportunities for manpower export.
Shahab Enam Khan, professor of International Relations at Jahangirnagar University, said, “Whatever you say, the main reason for conflict and war is underdevelopment. I see a lot of places there [in Mali] where Bangladesh has the opportunity to invest.”
“Manpower can be sent there. Besides, there is a great opportunity in agriculture for Bangladesh. All in all, there is no risk of loss without profit if you invest in the country,” said the professor, who also visited Mali with this correspondent.
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