A significant number of Chinese companies are looking for investing in Bangladesh as well as relocating their manufacturing industries to the country, mainly due to global trade dispute and rising cost there, speakers at a seminar said.
They emphasised improving infrastructure in the country to attract Chinese investment and to facilitate relocation of manufacturing industries here.
They were speaking at a seminar on China-Bangladesh investment facilitation, organised by the PricewaterhouseCoopers (PwC) at a city hotel on Tuesday.
Planning Minister M A Mannan was present in the seminar as the chief guest, while Mamun Rashid, Managing Partner of the PwC Bangladesh, moderated it.
A report of the PwC - 'Destination Bangladesh' - was also unveiled in the programme.
A large number of businessmen of Bangladesh and China, bankers, trade analysts, and the government high-ups attended the event.
The number of Chinese companies, interested to invest in Bangladesh, is rising significantly. Only the power sector is receiving queries from at least 20 Chinese companies every week, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid.
The Chinese companies are interested not only in the power sector, but recently other sectors are also witnessing the similar trend, he noted.
Over the last five to six years China has gathered vast experiences on cheap, clean and renewable energy. Bangladesh is also shifting to clean, cheap and renewable energy.
So, the Chinese companies are exploring their investment opportunities here, he added.
William Yuan, Partner of the Global China Business Network, PwC China, said Bangladesh is gradually becoming an investment destination for the Chinese manufacturing companies due to global trade dispute and rising cost there.
The Chinese companies, producing consumer goods, are also interested in Bangladesh market for its size and potentials, he said, suggesting improvement in infrastructure here.
Naser Ezaz Bijoy, Chief Executive Officer of the Standard Chartered Bank, Bangladesh, said the country will require a US$ 3.0 trillion economy to be a developed country by 2041, and the existing infrastructure here are not helpful to achieve it.
It is possible to emerge as a large economy by the stipulated timeframe, if the country can attract more foreign direct investment. Bangladesh needs to invest more on infrastructure and improving stock market, he opined.
He also suggested issuance of sovereign bonds to achieve the target of becoming a developed country by 2041.
Abul Kalam Azad, Chief Coordinator for SDG at the Prime Minister's Office, urged the Chinese investors to come to Bangladesh, as the government is offering different incentives.
Francois de Maricourt, Chief Executive Officer of the HSBC Bangladesh, Sushmita Basu, Partner of the PwC India, Sanjeev Krishan Deals Leader of the PwC India, Franklin (Liming) Zhai, the PwC China Bangladesh Country Champion, and Mahbub Uz Zaman, Bangladesh Ambassador to China, were also present at the programme, among others.
