Naguib Sawiris

Naguib Sawiris, chairman of Orascom Telecom Holding (OTH), parent company of Banglalink, the second largest mobile operator of the country, arrives in Dhaka today to announce his company's future investment plan.

During his daylong visit, Sawiris will meet with Banglalink's high officials to unveil plans with aim to make the company more competitive. Sawiris, who ranked as the world's 60th richest person by Forbes in 2008, is also scheduled to meet with the chief adviser and chairman of telecom regulatory agency.

OTH is a sister concern of the Orascom Group, one of Egypt's largest business groups, maintaining significant holdings in the areas of telecommunications, information technology, tourism and construction in the global market.

OTH was established in 1998 and has grown to become a major player in the global telecommunications market. Orascom Telecom has an average penetration of approximately 40 percent in six emerging markets with a population of 430 million, exceeding 74 million subscribers as of May with a market capitalization of $15 billion.

The OTH's subsidiary in Bangladesh, Banglalink has secured the second position in terms of subscriber acquisition. The company's total subscriber has reached 8.3million.

According to company sources, Sawiris is also the chairman of the Board of Weather Investments and the Egyptian Company for Mobile Services (ECMS), commonly known as MobiNil.

In January 2003, in recognition of its regional initiatives in the telecommunication industry, Orascom Telecom, represented by Sawiris, was appointed as board member of the GSM Association.