• Sunday, Nov 28, 2021
  • Last Update : 11:15 am

Conducive business environment key to more Chinese investment

  • Published at 09:05 pm January 26th, 2021
BIDA SCB webinar Bangladesh China investment

Bangladesh is in a much better position now in South Asia to woo more Chinese investment, says planning minister

Bangladesh is a golden destination for potential Chinese investors, said experts on Monday.

Bangladesh Investment Development Authority (BIDA) organised a webinar titled "Showcase Bangladesh 2021: Bangladesh China Investment summit" in collaboration with Standard Chartered Bank, which highlighted Bangladesh as an attractive investment destination, along with its achievement in the GDP, demographic dividend and increased FDI inflow, said a press release.

Planning Minister MA Mannan asked Chinese businesses to invest more in Bangladesh for mutual benefits.

Terming China as a big contributor, the minister said Bangladesh is in a much better position now in South Asia to woo more Chinese investment.

"We are completely open to cement further friendship ties with China," he said, and added that Bangladesh can reap optimum benefits of its friendship with China, which is currently not merely a big economy but also a driving force of the world economy.

Li Jiming, the Chinese ambassador to Bangladesh, encouraged Chinese companies to invest in Bangladesh and urged the Bangladesh Bank to consider introducing the Chinese yuan as a trading currency.

Bangladesh has now a stable currency and economy to attract more foreign investment, said Salman F Rahman, private industry and investment adviser to the prime minister.

"As China is our big partner we have always special attention for the Chinese investment," he added.

Presenting a paper titled "Bangladesh-- we nurture your investment dreams" at the webinar, Md Sirazul Islam, executive chairman of BIDA, urged the Chinese investors to participate in the "Bangladesh Investment Summit" which is to be held in July.

"The Bangladeshi government assures you all necessary support for starting and operating your business in Bangladesh," he added.

Paban Chowdhury, executive chairman of Bangladesh Economic Zones Authority, said they are currently developing one of the biggest economic zones of the country while the existing 28 have received $1 billion in investment from Chinese investors alone.

"We believe this will further pave the way for other foreign investors," he added.

Sheikh Fazle Fahim, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said Bangladesh managed the Covid-19 crisis very well. The country ensures multimodal connectivity, including riverways.

Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, said: "As Chinese firms seek new ports-of-call to expand integration to global value chains, Bangladesh-China partnerships hold a unique promise: deep ties and familiarity of centuries, but new and untapped opportunities."

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