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Chinese investors eye pharmaceutical, agro-processing, IT sectors in BD

FE Report | November 27, 2018 00:00:00

A visiting Chinese business delegation expressed on Monday their interest in investing in Bangladesh's pharmaceutical, agro-processing and information technology (IT) sectors.

They also invited their Bangladeshi counterparts to explore business opportunities in a special economic zone (EZ) in China's Shandong province.

They expressed their interest to strengthen bilateral trade relations between the two countries at the 'China (Dezhou)-Bangladesh Investment and Industry Cooperation Seminar', held at a city hotel.

Bangladesh Investment Development Authority (BIDA) and the visiting Chinese delegation jointly organised the seminar and a business match-making session.

BIDA Executive Chairman Kazi M Aminul Islam, a director of the management committee of Dezhou Economic and Technological Development Zone E Hongda, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md. Shafiul Islam (Mohiuddin) and President of Dhaka Chamber of Commerce and Industry (DCCI) Abul Kasem Khan attended the seminar among others.

Speaking on the occasion, Kazi M Aminul Islam apprised the Chinese businessmen of the existing conducive investment climate in Bangladesh.

"Bangladesh has been making a remarkable growth of around 7.0 per cent, thanks to the political stability and government initiatives to help boost the economy," he said.

Mentioning various steps including One Stop Service (OSS) for easing the investment procedure, Mr Islam said the country was preparing to post a growth of around 8.0 per cent through rapid industrialisation.

China, which already became one of the leading investors in Bangladesh, now could enjoy more benefits, he said.

"China has technology and innovation, while Bangladesh got a large pool of young energetic workforce," he said.

A director of the Chinese economic zone E Hongda made a brief presentation on the Dezhou Economic and Technological Development Zone in Shandong province.

"Located in Northeast of China, Dezhou has been making a good contribution to the national economy," he said.

Mentioning industrial achievement in the zone, he said: "We will have good opportunities to cooperate with Bangladesh."

Abul Kasem Khan said Bangladesh needed a large amount of investment to establish massive infrastructure facilities required to ensure the desired economic growth through industrialisation.

He urged the Chinese businesses to invest more in the country's infrastructure development and exploit the affordable production cost in various sectors.

Md. Shafiul Islam said China could reap the benefit of Bangladesh's demographic dividend by making investment in labour-intensive business.

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