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DCCI invites Chinese entrepreneurs to invest in Bangladesh

FE Report | Published: September 10, 2019 10:25:11 | Updated: September 12, 2019 14:59:18


The Dhaka Chamber of Commerce and Industry (DCCI) invited on Monday a visiting delegation of Chinese entrepreneurs to invest in the country's agro-processing sector for mutual benefits of the two countries.

The trade body made the request during a meeting between its board of directors and the delegation at the DCCI office in the city, with acting president of DCCI Waqar Ahmad Choudhury in the chair.

Chairman of the Liaoning Federation of Industry and Commerce Zhao Yanqing led the 11-member Chinese delegation.

Mr. Choudhury said that the agro-processing sector offers immense investment opportunities for the Chinese investors as this is the second largest export sector of Bangladesh.

He also requested the Chinese investors to invest in high-end apparel, backward linkage of pharmaceuticals, leather and footwear, electronics and automobile sectors of Bangladesh.

A memorandum of understanding (MoU) was signed between the DCCI and the Liaoning Federation of Industry and Commerce.

The DCCI also hosted an effective business-to-business (B2B) matchmaking meeting between the Chinese delegation members and their Bangladeshi counterparts from eight business companies with a view to boost bilateral trade.

Mr. Zhao Yanqing said that the Liaoning province is situated in the north-eastern side of China which is near Korea, Japan and Mongolia.

He invited Bangladeshi businesses to invest in Liaoning province to tap the export market of Korea, Japan and Mongolia.

He also said the province is rich in mineral resources like nickel, iron and magnesium.

Mr Yanqing said Bangladesh and Liaoning province is similar in size and the province is developed in terms of infrastructure and industrial base.

The bilateral trade of Bangladesh and China was about US$ 12.40 billion during the fiscal year 2017-18 which was 13.85 per cent of the total trade of Bangladesh, according to available data. The trade deficit of Bangladesh with China reached to $ 11 billion in 2017-18.

The foreign direct investment from China to Bangladesh reached $ 1.03 billion largely in power, apparel and financial sector.

talhabinhabib@yahoo.com

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