Dhaka, Bangladesh
Bangladesh new Asian tiger

Bangladesh new Asian tiger

Bangladesh is developing rapidly and is set to become a mid-income group country by 2021, said Wang Feng, Chief Executive Officer (CEO) of China Petroleum Longway Engineering Project Management Company Limited while talking to The News Today at his office recently The representative of the Chinese business house termed Bangladesh a "new Asian Tiger" and expressed his interest to explore new business opportunities in gas and oil sectors. Wang Feng has graduated from China University of Petroleum-Beijing on July, 1996 with major in Chemical Engineering (Petroleum Processing). He is not only a professional in the field with the title of senior engineer, but also a reputable executive. He served as deputy manager of Tianjin branch of China Petroleum Pipeline Engineering Co., Ltd, Vice President of Tianjin branch of China Petroleum Pipeline Engineering Co., Ltd. and concurrent Manager of Survey Division of China Petroleum Pipeline Engineering Co., Ltd. for many years. Quoting the Asian Development Bank (ADB) report, he said that Bangladesh is expected to post 8.00 GDP growth, the highest in Asia, for Bangladesh for the current fiscal year as against the government's 8.2% projection based on buoyant exports and domestic consumption. However, developing Asia's gross domestic product growth is forecast to slow from 5.9% in 2018 to 5.4% in 2019 and 5.5% in 2020. Inflation across developing Asia is forecast to increase from 2.5% in 2018 to 2.7% this year and in 2020. The regional lender made the projection in its Asian Development Outlook 2019 report launched recently. "Bangladesh economy is in a good shape and is likely to continue to grow at 8% in FY2020. ADB's outlook indicates that Bangladesh is likely to continue as the fastest growing economy in Asia and the Pacific," he said quoting ADB Country DirectorManmohan Parkash. In the last fiscal year, Bangladesh registered a 8.13% GDP growth according to Bangladesh Bureau of Statistic data. Have you visited Bangladesh before? What is your impression on Bangladesh? Yes, this is my third visit to this beautiful country. The first time was for an opening of a project undertaken by Chinese enterprise in 2015. When Bangladesh is mentioned, the first word comes to my mind is "golden". When I was in China, I read about My Bengal of Goldby RabindranathTagore, so my first impression was"golden". However, I had not been keenly aware of the "Bengal of Gold" until I got here. The flight I took to come to Bangladesh arrived here at 1 pm, the golden ray of sunshine beamed down everything within my sight, the banyan trees, the bank of river, everywhere. I visited colleagues who work in Dhaka. They were living in a house of cream color. We greetedeach other and talked to each other. I can say for sure that they led a bright life in this house covered in light-gold color. Later, I realize that My Bengal of Gold is the national anthem of Bangladesh. It's not only a masterpiece in depicting the scenery of Bangladesh, but also a great work to encourage Bangladeshi people to unit together. This has fascinated me a lot. Bangladeshi people are romantic, strong and decisive. They are very proud of their country and they are making every effort to help their country to develop rapidly. 2. What kind of opportunities that makes you breed the idea of developing Bangladesh market? In 2015, I arrived here for the first time. After the event, we went back to Dhaka from Chittagong. In the mid of the journey we needed refuel and were surprised that oil here were rationed. I thought that we are in the field of oil and gas transmission; it would be great if we'd get a chance to develop an oil pipeline. Since then, we have been paying a lot of attention to the Bangladeshi Market. My second visit was two years later. Our company had the opportunity to enter the Bangladeshi market. There were noticeable changes in Bangladesh when I set foot here for the second time: there were more Chinese enterprises, more multi-storied buildings, more vehicles and more people started using natural gas for cooking. This is my third time to be here. I am aware of the acceleratingdevelopment of Bangladesh. I visited the Padma Bridge constructed by Chinese enterprises and it's the biggest project in Bangladesh with a total investment of $4.4 billion (about 29.2 billion Chinese RMB). The bridge with a length of 6 kilometers has joined the South and North of Bangladesh together. As a company specialized in oil engineering project management under CNPC Group, I feel it's a great time since Bangladesh has entrusted Chinese companies with such an important project. Therefore, we registered a branch office to facilitate our market and business expansion. 3. What challenges do you face? The Belt and Road Initiative in China always encourages that Chinese companies should vigorously pursue moves of "going abroad", "standing firm in local markets" and "winning middle and high-end markets". We have completed the step of "going abroad" by doing business here. Now the major tasks for us are to find our feet here and win the desired markets. We should seek to fit in Bangladesh market. We will not only pay attention to projects and economic benefits while operating in Bangladesh, but also attach great importance tofit in Bangladesh with regard toculture and customs to encourage mutual understanding, mutual respect and mutual appreciation. "Going abroad" puts high requirements on business, as well as culture. When culture is activated, business will be conducted in a more smooth way. "Winning middle and high-end markets" demands our efforts to fulfill our social responsibility with a whole new social responsibility view. We hope we can bring our specialty into play to improve the construction in oil and gas field of Bangladesh on all fronts. By doing so, we can garner recognition, demonstrate our philosophy and enhance our ability. To achieve these goals requires comprehensive understanding in laws, media, finance, accounting, design, consultancy and other aspects in Bangladesh. I think the most challenging thing is to carry out a perfect exemplary project and try to ensure Bangladeshi people to enjoy a sense of gain. 5. That sounds a lot. We all know that doing a energy project is not as easy as build a house. What makes you and your company so confident? We have participated in the construction and management in all major natural gas and oil pipelines and oil and natural reserve depots in China. We have also participated in 60% of China's domestic oil and gas transmission pipeline network and those connecting with other countries.To put it another way, among 1.39 billion people in China now, more than 1 billion have used natural gas and oil transported by pipelines we participated. Experience accumulated and successes achieved in hundreds of international projects have bestowed LONGWAY the opportunity to compete with the world- class project management company. Of course, such competition will better us. More importantly, we stand on the shoulder of CNPC, a giant. 6. Why would you say "you stand on the shoulder of the giant, CNPC" CNPC is a wholly state-owned company, a comprehensive international energy company with ability to handle production, refining, storage, transportation and trade. In 2017, it ranked third in the top 50 oil company in the world and fourth in Fortune Global 500. LONGWAY comes under CNPC. Since the foundation of CNPC, it has achieved remarkable development in both domestic and international business. The development level of CNPC stands for the China's national level in oil industry. The rapid and sound development achieved by CNPC results from the high standards China has put on energy management and CNPC has also put a high requirement on its own orientation in development and long-term development. As a professional project management company, we serve CNPC group, providing project management and consultancy in every project that CNPC invested. In addition, we also plan and prepare the industrial project management standards of CNPC. Now, among the standards we have prepared, more than 20 have become national, industrial or corporate standards. It's fair to say that the development of CNPC has led or promote the development of LONGWAY. That's why we say "we stand on the shoulder of a giant, CNPC". 7. So I suppose we can say that you are the standard-setter of the industry in China? Haha, to put it more accurately, we are the participator in setting the standards. In fact, to be the participator in setting the standards of the industry, we have put a lot of efforts. First of all, we have to perfect ourselves to the greatest extent in order to be the best, the No.1 in this industry. Second, we should have abundant show cases and work experiences. We also need exploration experience in new energy. Third, we keep innovative to lead in the industry, to be the front runner in the development of the industry. To maintain this performance level requires us to think through every step we make. It also needs the alertness of our staff. They should constantly remind themselves to maintain their work in a good level so as to deliver a perfect project to the client. They should also think about how to improve their work efficiency and make sure their work can be done in a better way. In this way, the dynamics of themselves and the company they work for can be guaranteed. Of course, as we are working in Bangladesh now, we will see to behave in strict compliance with the rules and industrial regulations in Bangladesh and common international practices. 8. It seems in china, your company is incomparable in strength. Then how is the situation in international markets? You have just mentioned that you have delivered success in managing over 150 international projects Yes. Now we have undertaken over 150 international projects in 17 countries. We have participated in the construction and management of over 40,000-kilometer oil and gas pipeline. We have provided project management consulting services in projects of oil and gas pipeline and storage tanks in countries like Sudan, Ethiopia, Niger, Iraq and Chad. Myanmar-China Pipelines have won the "Luban Prize", China's highest accolade for engineering projects because of our outstanding management. In addition, the pipelines we participated in Niger and Chad have won national awards. We have built partnership with companies like ILF in Germany, VECO in Canada, Universal in the U.S., Moody in the U.K., BV in France. 9. What do you think is the most important element in doing international businesses? People. LONGWAY needs a large group of international professionals if we want our company to grow and to go abroad. This includes local talents. LONGWAY will recruit a group of local talents in every country we undertake projects. We will provide them reasonable remuneration, as well as more opportunities to learn and grow. Some of our employees came as average staff, but with their increasing knowledge about the Company and the project and expanded capability, they are now working as a member of our management. Many other companies offered them higher salaries, but they would rather stay in LONGWAY than go anywhere else. With the growing businesses we had in Bangladesh, there will be more Bangladeshi talents to join us. Just like "MengLiangfu", a employee of our Bangladesh office, he is a Bangladeshi and studied Science and Technology Management in China. He is the kind of talent we want. His name was given by a Chinese professor. "Meng" stands for Bangladesh. "Liangfu" means the wish that Bangladesh will be bright and affluent. He works very hard and has gained popularity in our project office. Our colleagues asked him once that which Chinese character is his favorite. He said "jia", which means home in Chinese. Chinese and Bangladeshi are families to each other and we will grow wealthy together. Our staff including me has learned the Bangla way of expressing "home". In my opinion, we will not only write down the word of "Home", but also treat the projects we had in Bangladesh as the work we had for our own home. 10. What methods do you have to help the company achieve success other than attaching importance to talents training? From the operation of the enterprise, I think it should be "win-win spirit". From the standpoint of specialty, it should be innovation. First of all, a "win-win" mode is the fruit of combining the concept of "peace and harmony" which have long existed in Chinese traditional culture and the value of competition of the west. To our knowledge, once we have reached an agreement in cooperation with our client, we will become one team which rise and fall together. Our value of being professional will not be shown if we cannot ensure the interests of our client. We will also gain our benefits through our professional services once the interests of the client have been ensured.Under all circumstances, we pursue longstanding cooperation between two sides and bring about happy endings through effective cooperation. Next is the innovation. We have mentioned earlier that, in China, we have participated in setting many standards and codes of the industry. Rich experience we had in constructing oil and gas pipeline network and storage tanks lays a solid foundation for us to develop, but this is not enough. Now the 2.4 million kilometer oil and gas pipeline under operation in the world is mainly in North America, Europe and Asia-pacific area. Another 100 thousand kilometeroil and gas pipeline will be constructed before 2025.

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