Bangladesh Export Processing Zones Authority (BEPZA) Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman expected that the upcoming visit of Chief Adviser (CA) Prof Dr Muhammad Yunus to China would open the door to setting up Chinese high-end electrical and electronics products, vehicles and medical equipment manufacturing industries in Bangladesh, reports BSS.
"Chief Adviser Prof Dr Muhammad Yunus is an iconic figure and he is also acceptable across the world. Through his visit, we're expecting more Chinese investment, especially expediting the process for setting up high-end product manufacturing industries to Bangladesh," he said.
The BEPZA executive chairman said this in an interview with the national news agency BSS on the overall investment scenario of the country and moves to attract more investments.
Chief Adviser Prof Dr Muhammad Yunus is scheduled to visit China from March 26-29.
In a recent press conference, CA's Press Secretary Shafiqul Alam said during the visit, a big focus would be given on relocation of Chinese factories to Bangladesh to make the country a manufacturing hub.
Regarding relocation of Chinese factories, Ziaur Rahman said because of the trade restrictions and tariff imposition by the current US administration, Chinese investors are looking for investing in other countries which has created a 'golden opportunity' for Bangladesh.
"Manufacturers must relocate production to avoid the looming high tariffs on Chinese exports to the US before they are imposed. So, we'll see a lot more investment coming to Bangladesh. Bangladesh is the first choice for Chinese investors to relocate industries," he added.
Expressing satisfaction over the current law and order situation in Bangladesh following the mass uprising and changeover in August last year, the BEPZA chief said due to government's strict measures and initiatives, the situation has come to a satisfactory level while the investors from different countries are now coming to invest here.
"Many Chinese and Korean investors have already invested in the EPZs. We're now also looking for investments from European countries and also from the rest of the world. Due to improvement in the image of the country, I think, European and other countries will also increase their investments here," he added.
To expedite the flow of Chinese investment, he mentioned that Chinese investors have requested Bangladesh to open up consulate offices at Shanghai, Guangzhou and some other industrially developed cities for ensuring smooth travel of Chinese investors to Bangladesh.
"Most of the Chinese investors are outside of Beijing. For distance, it takes huge time to get visas. So, they requested us to set up consulate office at Shanghai and Guangzhou.
