Chinese manufacturers urged to invest in Bangladesh, the country that is offering liberal policies for foreign investors at its 100 special economic zones (SEZs).
They conveyed the optimism at a seminar-meeting to explore ‘Trade and Investment Opportunities in Bangladesh’ at the Ministry of Foreign Affairs in Dhaka on May 23, 2019. Foreign Minister AK Abdul Momen briefed them, says a press release of the foreign ministry.
It was a 28-member delegation of Chinese Manufacturers’ Association (CMA), Hong Kong, led by Dennis NG, president of the association, that met the foreign minister in presence of executive heads of BIDA, BEZA, BEPZA, Hi-Tech Park, and Public Private Partnership Authority.
Ministry of Foreign Affairs and Bangladesh Investment Development Authority (BIDA) jointly organized it.
Foreign Minister Dr AK Abdul Momen was present as the chief guest at meeting.
Executive Chairman of BIDA Kazi M Aminul Islam and Bangladesh Economic Zones Authority (BEZA) Executive Chairman Paban Chowdhury also were present at the meeting, among others.
Hon’ble Minister welcomed them and wished them a fruitful visit in Bangladesh. In his introductory remarks Hon’ble Foreign Minister highlighted the pro-business, trade and investment friendly climate of Bangladesh. He reiterated that Bangladesh is now recognized worldwide as ‘Development Miracle’ under the visionary leadership and bold measures and initiatives taken by Hon’ble Prime Minister Sheikh Hasina and her government.
The foreign minister said: “Bangladesh offers well-educated, highly adaptive and industrious workforce with the lowest wages and salaries in the region.”
“Explore Bangladesh’s potentials, if you want to make money then invest here,” Momen added.
Besides cheap labour, Momen said Bangladesh has a vast local market with 160 million population to consume various goods.
“You will make money, in return Bangladesh will get more employment opportunities, it will be a win win situation,” the foreign minister further added.
He also urged the Chinese investors to explore various potentials of Bangladesh so that they can decide which sector will be beneficial for them.
Momen also said: “Bangladesh is looking forward to get huge fo
reign investments and trying to diversify its trade basket to achieve desired development goals set by Prime
Minister Sheikh Hasina turning the country into a developed one.
In 2018, Bangladesh received a record $3.61 billion as Foreign Direct Investment (FDI), up by 67.94% more than in 2017. While China became the leading investor in the country with $1.03 billion.
The power sector alone had attracted investments worth $1.01 billion, where China contributed $834 million, followed by $730 million in the food sector, and $430 million in the textile sector.