• Thursday, Jan 23, 2020
  • Last Update : 01:49 am

Chinese investors keen to expand footprint in Bangladesh

  • Published at 12:15 am May 26th, 2018

'There are numerous areas to further expand the ever-increasing trade and investment cooperation between Bangladesh and China'

Chinese investors at an event in Beijing have expressed keen interest in expanding their footprint in Bangladesh.

The views were expressed at the China-Bangladesh Business Forum, jointly organized by the Embassy of Bangladesh in Beijing and the China Top500 Foreign Trade Enterprises Club at the Hotel St Regis in Beijing on Friday.

Speaking at the forum, a number of senior executives of some prominent Chinese companies commended Bangladesh for creating a pro-business environment. Narrating their experience of setting up factories and offices in Bangladesh, they appreciated the friendly attitude of the people as well as of the business community of Bangladesh. 

They also praised the stable political environment and expressed hope that Bangladesh would soon become a prosperous country.

Yang Qingyun, general manager of Shandong Water Conservancy Construction Group of Companies, was among those to praise Bangladesh’s efforts to increase ease of business.

Delivering the opening speech at the forum, Bangladesh Ambassador to China M Fazlul Karim identified various traditional and non-traditional sectors, such as shipbuilding, pharmaceuticals, agro-processing, light engineering, jute, ICT, Infrastructure and tourism, where Chinese companies can focus their investment.

“There are numerous areas to further expand the ever-increasing trade and investment cooperation between Bangladesh and China,” the ambassador added.

During the question and answer session of the forum, Chinese investors expressed their willingness to explore new areas for cooperation in areas such as river dredging, automotive manufacturing, agriculture and irrigation, and airport building. 

A similar investment seminar was organized by the Bangladesh Embassy in Beijing last month, where over a hundred Chinese businessmen and entrepreneurs participated.

Earlier on May 14, the Dhaka Stock Exchange (DSE) agreed to sell 25% of its ordinary shares to a Chinese consortium comprised of the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) to make them strategic partner.

According to the SPA, the consortium will hold 25% – equivalent to 450,944,125 ordinary shares – of DSE at Tk21 each in order to partner with the bourse. 

The consortium has also offered Tk3.7 crore on top of the initial Tk947 crore, for infrastructural and technological development.

In addition, they have proposed to develop an SME market, assist in product diversification, and jointly operate the V-Next alliance program in Bangladesh. 

The DSE is being offered assistance in mapping information disclosure and investor service automation framework, developing human resources, and technological support to develop the DSE portfolio.