China to invest US$350mn in Bangladesh

Ittefaq Report,

The visiting Chinese Commerce Minister Gao Huchen while meeting the Prime Minister Sheikh Hasina on Tuesday informed that China will invest around $350 million in various sectors of Bangladesh.

The investment will aim for product diversification, value addition as well as boosting exports for the mutual benefits of China and Bangladesh.

The Chinese minister had the meeting with the Bangladesh premier at her official residence Ganobhaban.

The PM’s Press Secretary Ihsanul Karim while briefing the reporters after the meeting said that Huchen termed Bangladesh a development partner of China and urged PM Hasina to form a committee that would coordinate with the Chinese side regarding the investment.

The Chinese minister talked highly of Bangladesh’s jute products for which their export from Bangladesh increased by 10 percent just in the first half of this year.

The Chinese Minister also informed the PM that a letter of exchange has been signed between Bangladesh and China for building Bangladesh-China Friendship Exhibition Centre at Purbachal on the outskirts of capital Dhaka.

He commended the incumbent government which has been able to maintain over 6 percent GDP growth rate for the last couple of years. Gao Huchen added that Bangladesh is marching ahead under Sheikh Hasina’s visionary and dynamic leadership.

In response, PM Hasina said Bangladesh highly values its friendship with China.

About connectivity, she said Bangladesh gives importance towards strengthening connectivity among the BICM member countries to facilitate and enhance economic cooperation.

Sheikh Hasina further informed the Chinese minister that the government has allocated a land in Anwara upazila of Chittagong district, particularly for Chinese Economic and Industrial Zone.

In this regard, she stressed establishing garment industries on joint venture initiatives saying her government has been setting up 22 special economic zones where such investment could be made.

The two friendly countries have enormous potentials for building joint venture industries, she added.

Source: Ittefaq