Speakers at the China-Bangladesh Investment Summit said that Bangladesh is the perfect destination for Chinese investments.
Standard Chartered and Bangladesh Investment Development Authority (BIDA) jointly held the virtual summit on Monday, said a press release.
The summit has showcased partnership potential between Bangladesh and China and highlighted emerging strategic opportunities in a shifting global landscape.
Over 400 delegates representing Chinese public and private sectors, policymakers, investors, bankers and economists, along with prominent leaders from Bangladesh’s private and public sector joined the event.
It may note that Standard Chartered and BIDA have recently announced a partnership to jointly promote Bangladesh as a preferred investment destination.
They will work together to bring in targeted global investments to the country. The online summit was the first initiative to be undertaken through this partnership.
Speaking as the chief guest, Planning Minister MA Mannan said that platforms such as Showcase Bangladesh 2021 highlights the importance of connecting with potential investment opportunities for shared overall economic prosperity goals among all parties involved.
Private Sector Industry and Investment Adviser to the Prime Minister, Salman Fazlur Rahman, said, “Our government is keen on facilitating trade and investment for both Bangladesh and China. Bangladesh’s liberalized investment policies and concessions encourage foreign investment, and we see China as a strong investment partner. We hope investment cooperation between Bangladesh and China will reach new heights during Mujib Borsho – the birth centennial of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.”
Mahbub Uz Zaman, Ambassador of Bangladesh to China said, “I have seen growing interest among Chinese entrepreneurs due to the 97 percent duty free access and other incentives provided by Bangladesh. We believe China’s support and cooperation will help us in our journey of self-reliance.”
Li Jiming, Ambassador of China to Bangladesh said that China witnessed an annual growth rate of 2.3% in the last year and Bangladesh achieved an even higher growth rate than that of China during this time. The country’s spectacular development and their aspirations of becoming a developed economy by 2041 have attracted China.
Speaking at the event, Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh said that 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.
Mohammad Sirazul Islam, Executive Chairman of BIDA delivered the keynote presentation that highlighted opportunities for Chinese investors in sectors such as RMG, leather, pharmaceuticals/API & medical equipment, software & IT, agro & food processing, agro tools & machinery, electronics, automobile and shipbuilding.
President of FBCCI, Sheikh Fazle Fahim, said that such potential investment opportunities will allow for maximizing knowledge to ensure sustainable growth for both the economies involved.
In response to a question, Paban Chowdhury, Executive Chairman, Bangladesh Economic Zones Authority (BEZA) said, “We are currently developing one of the biggest economic zones and have already developed 28 economic zones in Bangladesh and received $1 billion in investment from Chinese investors alone. We believe this will further pave the way for other foreign investors from European and North American markets.”
