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Haikou Jiangdong New Area
Investment

Bangladesh bags 20.5 bln USD investment proposals, with Chinese firms among major investors

March 04, 2020


Abstract : Bangladesh has received investment proposals worth around 20.50 billion U.S. dollars from 151 local and foreign business entities, with Chinese firms among its list of leading investors.

DHAKA, March 3 (Xinhua) -- Bangladesh has received investment proposals worth around 20.50 billion U.S. dollars from 151 local and foreign business entities, with Chinese firms among its list of leading investors.

Out of the investment proposals, Bangladesh Export Processing Zones Authority (BEPZA) officials said around 2.80 billion U.S. dollars has already been invested in different of state-run special economic zones (SEZs) across the country, national news agency BSS reported on Tuesday.

Around 4.808 billion U.S. dollars will come as foreign direct investment (FDI) from different companies including those from China.

According to the BSS report, which did not give a duration of investments, World-famous companies like China Harbour, Honda Motors, Sumitomo Nippon and Yabang are among the major foreign investors.

BEZA Executive Chairman Paban Chowdhury said beyond these investment proposals, many world-renowned foreign companies are coming with big investment offers.

"We've already developed eight state-run SEZs as per a move to make the country an industrial hub in the world," said Chowdhury.

He mentioned that the government is providing all sorts of facilities to the economic zones to ensure an investment-friendly environment.

"Both local and foreign businesses who will invest in the economic zones will enjoy the same facilities," he added.

Chowdhury said Jinyuan Chemical Industry Limited, a sister concern of the Chinese Zhuzhou Jinyuan Chemical Industry Company Limited, has already set up their factory in the Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) at Mirsarai, Sitakundu and Sonagazi sub-district under southeastern Chattogram and Feni districts.

"We hope that at least 20 companies will start their construction works within this year," he said.

The BEZA executive chairman said the development works of another seven state-owned SEZs are going at a quicker pace to attract both foreign and local investors.

"We're also planning to establish another 14 state-owned SEZs across the country," he said.

He said the economic zones have already created direct employment opportunities for around 30,000 people, and through the proposed industrial units, there will be direct employment scope for at least eight lakh people.

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Keyword: investment China-Bangladesh

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