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Chairman of the China Export-Import Bank, Chen Huaiyu, said on Thursday that his bank would support the relocation of Chinese manufacturing plants to Bangladesh to make the country a platform for exports to other nations.
The China Exim Bank is a key financier of Beijing-funded infrastructure and energy projects in Bangladesh, but this is the first time it has shown interest in supporting investment from Chinese private manufacturers in the South Asian country.
Huaiyu's comments came when he met Bangladesh Chief Adviser Professor Muhammad Yunus on the sidelines of the Boao Forum for Asia Annual Conference 2025 at the Chinese coastal town of Boao, BSS reports.
Chief Adviser Prof Yunus said Bangladesh's strategic location and human resources could transform the country into a manufacturing hub for top global companies, both from China and elsewhere in the world.
He said he had invited top Chinese private manufacturers to relocate their factories to Bangladesh, adding that his government would offer attractive benefits for the manufacturers and provide a trade corridor.
"Bangladesh can be complementary to China as far as manufacturing is concerned," Prof Yunus said, adding that the Interim Government is fast-tracking the construction of a Chinese Special Economic Zone in the Chattogram region.
Prof Yunus also mentioned that Bangladesh is building large new ports to serve not only its economy but also the landlocked countries of Nepal and Bhutan and India's seven northeastern states.
Chen Huaiyu said Bangladesh is perfectly located to serve both Southeastern and Far Eastern Asia as well as the Middle East and Western Asia.
He said more and more Chinese companies are going global, and his bank would support their investment in Bangladesh and the development of its manufacturing sector.
The China Exim Bank would also support building infrastructures in Bangladesh to promote the country's socio-economic and sustainable growth, he said.
Citing how Vietnam has transformed its economy by attracting Chinese and Western manufacturers, Chen said Bangladesh needs to improve its business environment to attract investors from China.
In response, Prof Yunus said, "We will learn from Vietnam."
During the meeting, Bangladeshi officials also sought the quick disbursement of Eximbank’s funding and support for new infrastructure projects, such as the Dasherkandi Sewage Plant. They also urged the bank to reduce its commitment fees, which increase project costs.
Chen said his bank would look into the proposals and urged Bangladesh to switch to taking more concessionary loans in RMB, the Chinese currency.
Officials from both countries are likely to reconvene soon to finalize and take decisive actions on the key decisions made during Thursday’s meeting.
Foreign Adviser Touhid Hossain, Energy and Transport Adviser Fouzul Kabir Khan, High Representative of the Chief Adviser Dr. Khalilur Rahman, and the Executive Chairman of the Bangladesh Investment Development Authority Ashiq Chowdhury were also present.