DHAKA: Planning Minister A.H.M Mustafa Kamal urged the Chinese entrepreneurs to invest more in Bangladesh, capitalising on its positive demographics, strong economic growth, and rising exports.
“Bangladesh will post strong economic growth and see a bullish trend in exports through 2030. Seventy per cent people of the country are around 40 years,” he said.
Considering the demographic potential, “You can invest in Bangladesh, which will become a middle income country by 2021,” he added.
He made the call at a business conference on “China Zhejiang- Bangladesh Investment and Trade Conference” held at a city hotel.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and China Council for the Promotion of International Trade (CCPIT), Zhejiang organised the conference.
Terming Bangladesh a “miracle of success story” of economic resilience and development, the minister said that China invested US $ 84 billion across the globe last year.
But there was no foreign direct investment (FDI) from China to Bangladesh except loan or aid during the period.
“We want more Chinese investment rather than loan from China. If you (China) invest here in Bangladesh we will provide you (Chinese investors) pure land and other facilities,” he said.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid called upon the Chinese entrepreneurs to invest more in the power and energy sector.
He said the country has to produce 24,000 megawattts (MWs) power by 2021. The country needs $40 billion for investment in the power and energy sector.
“I called upon you to invest in power and energy sector in Bangladesh. We (the government) are ready to sign a long-term contract with you (Chinese entrepreneurs) for power and energy sector,” he said.
Executive Chairman of the Board of Investment (BoI) Dr Syed Abdus Samad said that last year, a total of 305 foreign companies registered for investment in Bangladesh. Out of the total, 111 companies are purely foreign companies, while 194 are joint-venture firms.
He said China now invests in the field of agriculture, food processing, textile and tannery sector etc. He called upon the Chinese businessmen to invest in other sectors.
He called upon the Chinese businessmen to invest in Bangladesh considering the government’s “package of guarantee” offer.
Besides, if Chinese entrepreneurs invest as ‘resident investor’ then they could enjoy tax holiday, duty-free and quota-free market access to other countries, vast local market of 160 million people and bonded warehouse facility.
Chairwoman of CCPIT Wu Guiying said that the conference would help further increase friendship and deepen cooperation between the businessmen of two countries.
Economic and Commercial Counsellor of the Chinese Embassy in Dhaka Wang Zijian said the bilateral cooperation between Bangladesh and China has been increasing day by day and will be strengthened in future.
First Vice-President of FBCCI Shafiul Islam Mohiuddin called upon the Chinese entrepreneurs to invest more considering the prevailing investment-friendly atmosphere in Bangladesh.
President of FBCCI Abdul Matlub Ahmad said that China the world’s largest economy of the world is a valuable economic and business partner of Bangladesh. Business relations between the two countries have grown profoundly.
“FBCCI and CCPIT has been working actively to continuously build and further promote the Sino-Bangladesh business relations, bringing the business communities of the two countries together for collaboration in research and development, energy, utilities, technology, manufacturing industries, service excellence, e-commerce and much more,” he said.
Vice- Chairwoman of CPPCC Zhejiang Committee (Vice Minister) Chen Yanhua said trade volume between China and Bangladesh is increasing fast. The bilateral trade volume in 2014 reached US $ 12.5 billion. Bangladesh has become the third largest trade partner of China in South Asia.
