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Dhaka Tribune

PWC seminar: Chinese companies keen to invest here

Speakers at the program said Chinese FDI in Bangladesh increased 10 times in one year. Chinese investment was $90  million in 2017, which rose to $1,029 million in 2018

Update : 28 Aug 2019, 11:53 PM

A group of Chinese companies are looking to invest in Bangladesh as well as relocate their manufacturing industries here due mainly to trade war with the US, Bangladesh's economic progress and rising cost bask in their country.

This was stated in a seminar on “China-Bangladesh Investment Facilitation” organised by PricewaterhouseCoopers (PWC) Bangladesh at The Westin Dhaka Tuesday night.

Speakers at the program said Chinese FDI in Bangladesh increased 10 times in one year. Chinese investment was $90  million in 2017, which rose to $1,029 million in 2018.

Planning Minister MA Mannan was present in the seminar as chief guest. State Minister for Power, Energy and Mineral Resources Nasrul Hamid was as special guest.

Nasrul Hamid said the number of Chinese companies, interested to invest in Bangladesh, was rising significantly and only the power sector was receiving queries from at least 20 Chinese companies every week.

He also said that over the past five to six years China gathered vast experience in cheap, clean and renewable energy, something Bangladesh was transitioning into, for which their companies were exploring investment opportunities here.

"There are huge opportunities in the power and energy sector in Bangladesh. Many Chinese companies are investing in our country," he said.

Nasrul also said: "We are going to produce cleaner energy in future. China has vast experience in energy transition. There are lots of investment opportunities in energy sector in Bangladesh. So we are looking for more investment here."

Planning Minister MA Mannan told the program that Prime Minister Sheikh Hasina recently visited China.

He said the government was trying its best to ensure a better atmosphere for investment. “We want better investment in the country,” he said.

"We want increased investment here. We can assure you of a good investment environment. Every suggestion from you about investment will be considered with utmost importance. It's an encouraging message for China and Bangladesh friendship," he added.

William Yuan, Partner of Global China Business Network said they were looking for investment opportunities in Bangladesh.

"There are a lot of opportunities in infrastructure development, energy sector and economic zones in Bangladesh," he also said.

Mamun Rashid, managing director of PwC Bangladesh, said his organisation was delighted to host so many prominent leaders from both Chinese and Bangladeshi businesses at the seminar.

“Bangladesh has emerged as a significant investment destination in South-East Asia over the last few years,” he said, adding, “Many Chinese companies have already invested here.” 

"I would like to thank the PwC China delegation for visiting us this week to kick-start our China-Bangladesh corridor. Bangladesh has emerged as a significant investment destination in South-East Asia over the last few years," he also said.

A report styled "Destination Bangladesh," was released in the seminar.

Principal Coordinator (SDG) of Prime Minister's office Md Abul Kalam Azad and Executive Chairman of Bangladesh Economic Zones Authority (BEZA) Paban Chowdhury, Chief Executive Officer of the Standard Chartered Bank Naser Ezaz Bijoy, Bangladesh Chief Executive Officer of the HSBC Bangladesh Francois de Maricourt, Partner of the PwC India, Sanjeev Krishan Deals Leader of the PwC India Sushmita Basu, and Bangladesh Ambassador to China Mahbub Uz Zaman were also present at the programme among others.

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