China reaffirms continued support for Bangladesh’s development

Chinese Ambassador to Bangladesh Yao Wen said China is committed to continuing its utmost support for Bangladesh's development and deepening cooperation in infrastructure projects including railways.

"We are ready to actively consider all project proposals officially submitted by the Bangladeshi government after a sound feasibility and cost-benefit analysis," he said yesterday while speaking at the inaugural ceremony of the Padma Bridge Rail Link Project.

Noting that next year marks the 50th anniversary of diplomatic relations between Bangladesh and China, Ambassador Yao said China is also ready to provide technical support for feasibility studies.

Adviser for the Ministry of Railways, Ministry of Power, Energy and Mineral Resources, and Ministry of Road Transport and Bridges Muhammad Fouzul Kabir Khan, Secretary of the Ministry of Railways Fahim Islam, and Director General of Bangladesh Railway Afzal Hussain were, among others, present at the event.

According to statistics released by Bangladesh, in the fiscal year 2024, he said, the total amount of foreign direct investment (FDI) to Bangladesh declined by 8.8%.

But the FDI from China experienced a remarkable threefold increase compared to the previous fiscal year, said Ambassador Yao, adding, "So far, more than 20 Chinese companies have set up their South Asian headquarters in Bangladesh."

Since the interim government took office, at least 11 Chinese enterprises have invested a total of $180 million in Bangladesh.

The Ambassador said they will continue to encourage Chinese enterprises to remain deeply engaged in Bangladesh, contributing to the nation's industrial upgrading and export diversification and further strengthening our comprehensive strategic cooperative partnership to benefit the Bangladeshi people.

"As a key cooperation project under the Belt and Road Initiative, it is also the "Road of Dreams" for the Bangladeshi people," he said, referring to the rail link project.

With today's entire operation of the project, the travel time between Dhaka and Jashore will be reduced from 10 hours to 2 hours, directly benefiting a population of 80 million and contributing an estimated 1.5% to Bangladesh's GDP growth, he said.