Bccci, Beza to jointly promote Chinese investments in economic zones

The Bangladesh China Chamber of Commerce and Industry (Bccci) is going to team up with the Bangladesh Economic Zones Authority (Beza) to promote Chinese investments in the economic zones across the country.

To this end, the two parties are set to sign a memorandum of understanding (MoU) on Wednesday (29 March).

Beza sources say the main objective of this MoU between Beza and Bccci is to work jointly for the augmentation of the trade and investment between Bangladesh and China by encouraging and facilitating Chinese entrepreneurs, business communities, researchers, and trade bodies of both countries.

Roles and Responsibilities of both parties:

The parties shall collaborate to attract Chinese entrepreneurs to set up industries and operate businesses in Economic Zones in coordination with other relevant agencies of the Government of Bangladesh. The parties will collaborate to promote bilateral business and investment in Bangladesh and China.

Al Mamun Mridha, secretary general of Bccci, told The Business Standard (TBS) "We are going to sign a MoU with Beza on 29 March."

"We have taken several steps to bring the total investment system into a structure as Chinese investment is increasing day by day in the country."

He said, "We will help investors who came to the Bangladesh China Chamber of Commerce and Industry in getting complete support. With this, we will play a significant role in attracting investment in the economic zone. Beza will assist us so that the investors will get faster service."

He said, "We have 750 members. Of those, 430 are direct Chinese investors."

Al Mamun Mridha said, "We have MoU with China Council for the Promotion of International Trade (CCPIT). Through this, we provide all the necessary facilities for an investor to invest in Bangladesh, starting from receiving them at the airport. We have a legal panel to help them prepare the paperwork required for investment."

Sources say Beza has taken initiatives to establish 100 economic zones across the country by 2041. Among those, Beza has initiated the establishment of a Chinese Economic and Industrial Zone (CEIZ) in Anwara upazila of Chattogram, based on the G2G [government-to-government].

Shaikh Yusuf Harun, executive chairman at Beza, told TBS that the economic zone on 778 acres of land is expected to create employment for at least 30,000 people.