Chinese investors show interest in Bangladesh's power sector

Chinese investors say they have significant plans to invest in Bangladesh's power sector, particularly in the local manufacturing of lithium batteries and solar panels as well as the establishment of satellite connectivity.

They shared their interest at a view-exchange meeting with Executive Chairman of the Bangladesh Investment Development Authority (BIDA) Chowdhury Ashik Mahmud Bin Harun at his office in the capital's Agargaon area on Sunday.

The Chinese delegation comprised of officials from Wellbe Communication Technology Limited and Beijing Hairun Haoshen Technology Limited. They were accompanied by NAMSS Motors Limited of Bangladesh, a statement said.

Being informed of the investment plans, the BIDA executive chairman congratulated the Chinese investors and assured them of providing all the required support.

He highlighted the benefits of investing in Bangladesh and said BIDA was determined to provide all the investment-related services, adding there were respective officers for different countries to facilitate the investment process.

Chowdhury also urged the Chinese delegation to make further investments in Bangladesh.

Chairman of the Chinese companies in the delegation Wong Tik Benjamin said Bangladesh was a major reliable market and it was easy to export from here to the outside world.

He said there were currently many battery-powered cars in Bangladesh, but most of the batteries were not technologically advanced.

"Keeping in mind that the number of electric vehicles in the world will increase by many times in the future, we have decided to establish a high-quality lithium battery production centre," Benjamin added.

He also shared investment plans to establish a solar panel manufacturing plant and an advanced communication satellite connection in Bangladesh through joint investments.

Managing Director of NAMSS Motors Brig Gen (retd) Shafiquzzaman said the joint investments aimed not only for profitability but also to contribute to Bangladesh's push for green technology and pollution reduction.

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