Chinese investors want simplification of tax,customs procedures and visa processes to enhance trade and investment withBangladesh.
Commercial Counsellor at the Embassy of China in Bangladesh Song Yang madethe remarks while addressing a seminar on "Stakeholder Consultation withChinese Investors: Challenges, Expectations and Prospects" held at theBangabandhu Bangladesh-China Friendship Exhibition Center (BCFEC) atPurbachal.
The Embassy of the People's Republic of China in Bangladesh, in collaborationwith the Bangladesh China Chamber of Commerce and Industry (BCCCI) and theChinese Enterprises Association in Bangladesh (CEAB), is holding a three-day"The Belt and Road Initiative in Bangladesh Exhibition 2023" inaugurated onFriday at the BCFEC.
"Bangladesh enjoys a long-standing relationship with China. Such exhibitioncreates a new hope for us. It is a platform to highlight
the collaborativespirit between the two nations," Song Yang added.
Noting that the Chinese president Xi Jinping launched the Belt and RoadInitiative (BRI) in 2013, he said it is now fruitful. "Our strong support andcooperation will continue for Bangladesh," he pointed out.
Speaking on the occasion, BIDA Executive Member (Additional Secretary) AvijitChowdhury requested Chinese investors to invest in Bangladesh as itsinvestment climate is congenial.
"Bangladesh will attain LDC graduation by 2026. So, we have to face a lot ofchallenges. We need more foreign direct investment particularly of China intechnology and labour skill development to compete with 4IR," he added.
He urged all investors to come at BIDA if they face any problem whileinvesting in the country.
Speaking on the occasion, BCCCI Secretary General Al MamunMridha said theyhave been working tirelessly towards fostering stronger economic relationsbetween the two friendly nations.
Back in 2016, over $40 billion was promised to Bangladesh as part of the BRIinitiative. Almost $5 billion has already been disbursed while many projectshave already been implemented, some milestone projects are about to beinaugurated and some project's work are going on at a rapid pace, Song Yangsaid.
CEAB president KeChangliang and BCCCI Gazi Golam Murtoza spoke, amongothers, there.
In another seminar, BKMEA executive president Mohammad Hatem said there
exists a huge trade gap in favor of China. "But I think the BRI has the
potential to influence and transform the garment industry in Bangladesh
positively. Through infrastructural development, trade facilitation,
technology transfer, investment, and sustainable practices, the BRI can
contribute to the continued growth and competitiveness of Bangladesh's RMGsector," he added.
