Bangladesh has secured a commitment of $2.1 billion from China during Chief Adviser Muhammad Yunus’s visit. Key investments include $1 billion from Chinese companies in the Industrial Economic Zone, and loans for port modernization and other developments. Chinese President Xi Jinping indicated support for relocating manufacturing plants to Bangladesh, fostering a hopeful outlook for future investments from China.

Bangladesh has successfully secured a commitment of $2.1 billion in investments, loans, and grants from China during a significant visit by Chief Adviser Muhammad Yunus. This funding was confirmed by officials from Bangladesh and Yao Wen, the Chinese ambassador in Dhaka. Approximately 30 Chinese companies have pledged to invest one billion dollars in the Exclusive Chinese Industrial Economic Zone, following Yunus’s encouragement of private sector investments in the nation’s manufacturing sector.

In addition to private investments, China plans to allocate around $400 million for the modernization of Mongla port, $350 million for the development of the China Industrial Economic Zone, and $150 million for technical assistance. The remainder will be provided through other grants and loans, according to the agreements made during this important engagement.

Yao Wen referred to this trip as a “milestone visit” that could significantly enhance Chinese investments in Bangladesh. During the visit, Yunus sought the endorsement of President Xi Jinping, requesting support for Chinese private enterprises to invest in Bangladesh. President Xi acknowledged this request and indicated that he would promote the relocation of Chinese manufacturing plants to Bangladesh, aligning with production diversification efforts.

Ashik Chowdhury, the executive chairman of the Bangladesh Investment Development Authority, expressed optimism about a potential surge in Chinese investments resulting from this visit. Yunus and Chowdhury also engaged with officials from over 100 major Chinese companies, encouraging them to invest in various sectors such as advanced textiles, pharmaceuticals, light engineering, and renewable energy during three sessions held in Beijing.

Chowdhury reported a highly positive response from the Chinese companies present at the sessions, reinforcing the notion that the visit will significantly contribute to fostering future investments in Bangladesh.

The recent high-level visit to China by Chief Adviser Muhammad Yunus has culminated in a substantial commitment of $2.1 billion from Chinese sources, which includes substantial investments in diverse sectors such as manufacturing and port modernization. The interactions with prominent Chinese companies demonstrate a positive reception towards potential investments. This diplomatic engagement is anticipated to catalyze further economic collaboration between Bangladesh and China, thus enhancing investment opportunities for various industries in Bangladesh.

Original Source: www.newagebd.net

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