11 Chinese Companies Propose $9.21 Billion Investment in BD

Eleven leading Chinese companies have proposed investing $9.21 billion in Bangladesh in sectors including gas exploration, infrastructure, waste management, logistics, ports, education, pharmaceuticals and manufacturing, according to a company-wise document received by the Bangladesh Investment Development Authority (BIDA).

The proposals were presented on 25 June in Beijing, the Chinese capital, during a meeting between Prime Minister Tarek Rahman and chief executive officers and senior officials of the Chinese firms.

BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun said the proposals had been submitted by the companies concerned and had not yet been verified by the government. He said nothing could be said at this stage about the likelihood or certainty of implementation.

Speaking to reporters, BIDA Chairman Ashik Chowdhury said political and economic stability had returned after the newly elected government assumed office, and that message had been conveyed to foreign investors. He said confidence in Bangladesh had increased as a result.

Ashik Chowdhury also said Bangladesh had published, for the first time, a five-year tax outlook, which had given prospective investors a message of long-term policy stability.

The largest proposal came for the Dhaka-Chattogram highway public-private partnership project, with Sichuan Road and Bridge Group offering to invest $4.5 billion.

Zhongxin Environmental Protection Group proposed investing $1.65 billion to establish an e-waste recycling and disposal industry in the Payra Port industrial zone.

Shanghai SUS Environment Co. proposed $890 million for waste-to-energy projects in Bangladesh.

State-owned China Civil Engineering Construction Corporation proposed $650 million for the development of the Mongla Economic Zone, bonded warehouses and a regional logistics hub. The proposal claimed the project could create employment for about 50,000 people.

Other proposals included $250 million for gas field exploration and development, $250 million for smart electricity meter manufacturing, and $270 million for the construction of a modern applied university and a technical education industrial park.

Various Chinese companies also proposed investments in cold-chain logistics, railway parts manufacturing, solar power, batteries, recycled cotton and yarn production, and herbal plant-based industries.

Sources concerned said the Chinese investors expressed interest at the meeting in making long-term investments in various sectors in Bangladesh. The proposals, however, will undergo the necessary government scrutiny and evaluation before any implementation decision is made.