Talks with Chinese company underway

The government has started talks with a Chinese company for its potential investment in infrastructure in Bangladesh.

Last year, a team of the company 'China-Pacific Construction Group (CPCG) Holdings' sat with commerce minister Tipu Munshi in Dhaka.

During the meeting, they (Chinese delegates) informed the minister of their ongoing development activities in different countries and territories.

As part of its global business expansion, the firm is interested to invest in infrastructure sector here.

It has taken into consideration the prevailing investment friendly environment in Bangladesh, a commerce ministry official told the FE last week.

Mr Tipu is set to visit China in the first week of March to discuss an investment proposal with the high-ups of CPCG Holdings in Bangladesh.

A ministry official visited Beijing from January 13-17 as part of a follow-up discussion about the proposal.

He later informed the minister of the Chinese company's business interests in Bangladesh. "I hope to visit China in March to finalise the matter with the high-ups of CPCG Holdings," Mr Tipu told the FE last week.

He said the Chinese investment would be under public-private partnership if a deal is struck.

"CPCG high-ups have expressed their deep interest of investment in the infrastructure sector of Bangladesh," said Kamruzzaman Chowdhury Tuhin of the ministry.

During his meeting with CPCG's Nonwestern branch chairman Liu Junlan informed him that more than 1,000 projects are ongoing globally.

Mr Tuhin said CPCG Holdings is interested in investing in road communications and buildings for urbanisation.

A CPCG delegation will visit Dhaka after Mr Tipu's China visit, he added.

Founded by Yan Jiehe in 1995, It is one of the top 500 Chinese enterprises.

CPCG Holdings ranked 96th in the Fortune Global 500 in 2018. It has been engaged in urban infrastructure construction industry.

It is also one of the largest integrated construction groups in China and Asia in terms of the total engineering contract revenue.

Under the 'Belt and Road' initiative, CPCG is working closely with its Malaysian counterparts in infrastructure, investment and technology transfer.

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