PM invites Chinese companies to expand value chains into Bangladesh
Prime Minister Tarique Rahman on Thursday invited Chinese companies to extend their manufacturing value chains into Bangladesh, assuring investors of sweeping reforms, faster approvals and stronger institutional support as his government wants to position the country as a major destination for foreign investment.
Addressing the Bangladesh Investment Forum in Beijing, the Prime Minister also announced that Bangladesh will soon establish its first Investment Office in China to provide direct support for prospective Chinese investors and facilitate faster investment decisions.
"We are inviting Chinese companies to extend their value chain into Bangladesh. We can help Chinese companies serve global markets while benefitting from growing large domestic demand," he said, describing the prospect as a "complementary, practical and win-win relationship."
Speaking before Chinese business leaders, industrialists and institutional investors, Tarique Rahman described Bangladesh and China as partners whose relationship has evolved from diplomacy to development, from development to trade, and now towards deeper industrial cooperation.
He said Bangladesh is undergoing a "monumental economic and governance transformation" and is ready to become a trusted and competitive hub for Chinese businesses looking to expand globally.
"Bangladesh is open for business, ready for the future, and keen to work with China, one of our longstanding and trusted friends," the Prime Minister told the audience.
He expressed confidence that stronger economic collaboration will further deepen the long-standing friendship between Bangladesh and China.
“Today, I am also happy to announce that we will soon be opening our first 'Investment Office' in China. Our objective is simple. Chinese investors should not have to wait until they arrive in Bangladesh to receive support. We want to be closer to you, speak to you more regularly and help you move faster from interest to decision,” Tarique Rahman said.
Highlighting China's transition towards advanced manufacturing and high-value industries, he said parts of the country's manufacturing ecosystem will seek new competitive destinations and Bangladesh is well-positioned to become one of those locations.
The Prime Minister said his government has launched a rigorous 180-day Action Plan aimed at overhauling institutions dealing with international investment and removing long-standing bureaucratic obstacles.
Under the initiative, he said Bangladesh is improving policy continuity, reducing overlapping regulatory procedures and digitising government services to ensure greater transparency, predictability and efficiency for investors.
Tarique Rahman assured foreign investors of non-discriminatory treatment, the repatriation of capital and dividends in accordance with existing laws and regulations, and strong legal protections.
As part of efforts to attract more Chinese investment, he said Bangladesh is developing dedicated industrial facilities, including the Chinese Economic and Industrial Zone in Anwara and a second economic zone in Mongla.
PM seeks Chinese support for development projects, Friendship Hospital
Tarique Rahman sought China's support for Bangladesh's development projects, including the proposed China-Bangladesh Friendship Hospital.
He sought the cooperation during a courtesy meeting with Liu Haixing, Minister of the International Department of the Communist Party of China (CPC) Central Committee, at the Diaoyutai State Guest House in Beijing.
The Prime Minister welcomed the growing engagement between the two sides and expressed hope that the long-standing friendship between Bangladesh and China will continue to deepen in the years ahead.
At the beginning of the meeting, Liu congratulated Tarique Rahman on assuming office as Prime Minister and recalled the long-standing ties between Bangladesh and China.
Referring to former Prime Minister Khaleda Zia, Liu noted that she had visited China nine times and said a photograph from her 2001 visit is preserved at the CPC Museum in recognition of her contribution to strengthening bilateral relations.
He also referred to the Memorandum of Understanding (MoU) signed earlier in the day between the Bangladesh Nationalist Party (BNP) and the Communist Party of China and expressed interest in expanding exchanges and cooperation between the two parties.
Liu said the agreement could open up new avenues of cooperation in areas such as media, think tanks, people-to-people exchanges and initiatives aimed at improving living standards.
Reaffirming Beijing's position, he said China remains a firm supporter of Bangladesh's sovereignty, security and development and stressed the importance of advancing bilateral ties on the basis of mutual respect and cooperation.
Liu voiced confidence that the people of Bangladesh will enjoy greater progress and prosperity under Tarique Rahman's leadership.
During the meeting, Prime Minister Tarique Rahman highlighted Bangladesh's development priorities and sought Chinese support for a number of development projects.
Information and Broadcasting Minister Zahir Uddin Swapon, Water Resources Minister Shahiduddin Chowdhury Anee, Prime Minister's Adviser on Foreign Affairs Humaiun Kobir, State Minister for Civil Aviation and Tourism M Rashiduzzaman Millat, State Minister for Power, Energy and Mineral Resources Aninda Islam Amit, Prime Minister's Adviser Mahdi Amin, and Additional Press Secretary Atikur Rahman Rumon were present at the meeting.
On the Chinese side, Vice Minister of the CPC International Department Sun Haiyan, Chinese Ambassador to Bangladesh Yao Wen and other senior officials attended the meeting.